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Residential Finance Survey: 2001 - Midwest
Table 7-3c. Mortgage Insurance Status, Rental and Vacant 50-or-More-Housing-Unit Mortgaged Properties
^Number of mortgaged properties.
For information on confidentiality protection, sampling error, nonsampling error, and definitions, see text.
For minimum base of derived figures (percent, median, etc.) and meaning of symbols, see text.
@5Includes first mortgages that are guaranteed by the VA or Rural Housing Service/Rural Development or are insured by state and local governments with or without FHA insurance, VA, or Rural Housing Service/Rural Development guarantees.
Monthly Rental Receipts Per Housing Unit, Rental Receipts as Percent of Value, Rental Vacancy Losses as Percent of Potential Receipts, Interest and Principal Payments on First Mortgage as Percent of Rental Receipts and Real Estate Tax as Percent of Rental Receipts acquired before 2000 exclude properties with less than half of units in rental market during all of year preceding survey and cooperatively owned apartments^^

Properties with government-insured
rental market during all of year preceding survey and cooperatively owned apartments^^
or guaranteed first mortgage
Total mortgaged
properties
FHA
first mortgage
Other
insured or guaranteed
first mortgage@5
Properties with
privately-insured
first mortgage
Not insured

50-or-more housing properties
with traditional first mortgage
13155 1463 2667 806 8218

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
11751 1249 2366 766 7370
In central cities 5369 722 349 348 3950
Not in central cities 6382 527 2017 418 3420
Outside MAs 1405 215 301 40 849

Number of Housing Units

50 to 74 housing units
4455 464 651 289 3052
75 to 99 housing units 1748 262 185 115 1185
100 to 149 housing units 2364 352 177 197 1638
150 to 199 housing units 2598 135 1535 82 847
200 to 299 housing units 1164 150 53 65 896
300 to 499 housing units 657 70 48 51 487
500 to 999 housing units 157 22 17 8 111
1,000 or more housing units 14 9 1 0 4

Manner of Acquisition

By purchase
12272 1337 2534 771 7630
Placed one new mortgage 10096 1147 2300 540 6108
Placed two or more new mortgages 587 22 66 83 416
Assumed mortgage(s) already on property 958 53 122 141 642
Assumed mortgage(s) already on property
and placed new mortgage
162 64 8 6 85
Borrowed using assets other than this
property as collateral
111 24 6 0 81
Paid all cash-no borrowing 241 26 23 2 190
Other manner 116 0 8 0 108
By inheritance or gift 76 4 23 10 39
By divorce 0 0 0 0 0
By tax free exchange of
other property
111 50 0 0 61
By foreclosure or assignment 38 7 0 0 31
By some other manner 253 13 21 17 202
Not reported 407 52 90 9 256

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
4031 301 417 311 3002
Sale of stock or other partnership
shares for this project
422 40 33 3 347
Sale of previously owned stocks,
shares, or other securities
63 0 3 0 60
Sale of land or other real estate 424 4 107 86 227
Owner's cash, bank deposits,
share accounts, or bonds
1799 114 135 137 1413
Borrowing from a retirement plan 12 0 0 0 12
Borrowing using assets other than this
property as collateral
348 4 5 81 257
Proceeds from an insurance policy 6 0 0 0 6
From a state or local government source 31 0 20 0 11
From a non-profit organization 14 1 2 0 10
Proceeds from sale of tax credits 203 20 42 16 125
From parents or relatives 29 0 0 4 25
Other cash source 284 29 36 1 218
Non-cash source 19 0 3 0 16
No downpayment required 246 47 21 0 178
Not reported 536 46 64 55 372
Other properties 8988 1150 2249 495 5094
Not reported 136 12 1 0 123

Year Property Acquired

1999 to 2001 (part)
1666 119 148 50 1349
1997 and 1998 1725 135 210 108 1271
1995 and 1996 954 81 67 164 643
1990 to 1994 1444 193 113 109 1029
1985 to 1989 1734 158 208 179 1189
1980 to 1984 1615 377 137 69 1033
1975 to 1979 2847 238 1647 27 934
1970 to 1974 817 139 89 80 510
1969 or earlier 354 24 49 20 261

Building and Land Acquisition

Acquired at same time
7330 850 651 525 5304
Not acquired at same time 5220 570 1906 245 2499
Land not owned by building owner 60 12 5 0 43
Not reported 546 31 106 35 373

Property New or Previously Owned When
Acquired

Acquired by purchase
12272 1337 2534 771 7630
New 6318 750 1929 366 3272
Previously owned 5758 580 510 397 4270
As residential property 5567 553 503 385 4127
Converted from nonresidential use 191 28 7 12 144
Other 129 7 77 8 37
Not reported 66 0 16 0 50
Other properties 477 74 44 26 333
Not reported 407 52 90 9 256

Year Structure Built

1999 to March 2000
258 34 11 3 210
1997 and 1998 555 66 62 4 423
1995 and 1996 512 24 13 110 365
1990 to 1994 834 85 69 27 653
1980 to 1989 2802 323 444 234 1800
1970 to 1979 5260 658 1888 134 2580
1960 to 1969 1639 155 127 142 1214
1950 to 1959 235 1 9 5 220
1940 to 1949 141 32 2 35 72
1939 or earlier 919 83 42 111 682

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
3144 230 350 156 2409
Less than $20,000 655 51 54 25 526
$20,000 to $39,999 1659 84 207 110 1259
$40,000 to $59,999 441 30 38 14 359
$60,000 to $79,999 241 54 36 1 150
$80,000 to $99,999 74 0 4 6 63
$100,000 to $124,999 15 3 3 0 9
$125,000 to $149,999 24 5 5 0 14
$150,000 to $174,999 4 0 0 0 4
$175,000 to $199,999 13 0 3 0 10
$200,000 to $249,999 3 3 0 0 0
$250,000 to $299,999 4 0 0 0 4
$300,000 to $499,999 5 0 0 0 5
$500,000 or more 0 0 0 0 0
Median 31017 35238 31719 29668 30737
Mean 35419 42790 37914 26083 34957
Other properties 10011 1234 2317 650 5810

Value

Less than $1,000,000
582 49 106 36 391
$1,000,000 to $1,999,999 2223 375 302 127 1420
$2,000,000 to $2,999,999 2085 198 125 74 1689
$3,000,000 to $3,999,999 1688 196 241 180 1071
$4,000,000 to $4,999,999 988 108 141 60 679
$5,000,000 to $7,499,999 1799 291 145 174 1189
$7,500,000 to $9,999,999 702 55 28 68 551
$10,000,000 to $14,999,999 2254 108 1513 14 619
$15,000,000 to $19,999,999 400 24 31 15 330
$20,000,000 to $29,999,999 263 35 21 26 182
$30,000,000 to $39,999,999 83 16 7 12 47
$40,000,000 to $49,999,999 40 3 1 15 21
$50,000,000 or more 48 7 7 4 31
Median 3999613 3563711 10812743 3923265 3570104
Mean 6088956 5528403 7628172 6408550 5657828

Value Per Housing Unit@8

Less than $20,000
1688 189 237 67 1195
$20,000 to $39,999 5497 813 467 328 3889
$40,000 to $59,999 4242 279 1719 264 1980
$60,000 to $79,999 1042 87 190 90 675
$80,000 to $99,999 252 37 23 19 173
$100,000 to $124,999 156 45 10 3 99
$125,000 to $149,999 125 1 16 15 93
$150,000 to $174,999 51 1 1 0 48
$175,000 to $199,999 43 0 5 6 32
$200,000 to $249,999 20 6 0 7 7
$250,000 to $299,999 22 5 0 0 17
$300,000 to $499,999 17 0 0 7 10
$500,000 or more 0 0 0 0 0
Median 37790 33340 47330 40600 34986
Mean 42274 38633 46700 47672 40956

Purchase Price as Percent of Value@8

Acquired by purchase
12272 1337 2534 771 7630
Purchased 1997 to 2001 (part) 3144 230 350 156 2409
Less than 60 percent 278 49 17 4 209
60 to 69 percent 115 41 9 6 59
70 to 79 percent 344 43 101 4 197
80 to 99 percent 1163 38 113 94 918
100 percent or more 1238 59 110 49 1020
Median 94 76 89 94 96
Purchased 1990 to 1996 (part) 2208 213 174 249 1572
Less than 40 percent 226 36 6 28 156
40 to 59 percent 353 44 14 25 270
60 to 79 percent 541 41 61 67 372
80 to 99 percent 512 29 47 66 370
100 percent or more 576 63 46 64 404
Median 79 73 83 81 79
Purchased 1989 or earlier 6920 894 2010 366 3649
Less than 20 percent 196 1 12 16 166
20 to 39 percent 458 52 22 14 370
40 to 59 percent 809 109 47 43 610
60 to 79 percent 2535 110 1624 54 748
80 to 99 percent 771 203 61 125 382
100 percent or more 2070 419 221 115 1315
Median 75 97 71 89 77
Not acquired by purchase 884 126 134 35 588

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
7479 1059 729 573 5117
Less than $50,000 2343 418 217 215 1493
$50,000 to $99,999 1541 240 228 133 940
$100,000 to $249,999 1976 217 159 159 1441
$250,000 to $499,999 784 114 63 28 580
$500,000 to $749,999 299 28 10 15 247
$750,000 to $999,999 118 12 12 14 81
$1,000,000 to $1,499,999 165 11 20 7 127
$1,500,000 to $1,999,999 67 3 9 0 55
$2,000,000 to $2,999,999 51 6 6 0 39
$3,000,000 or more 134 11 6 2 114
Median 95326 73337 82422 76917 113060
Mean 370752 241137 262886 150667 437616
Properties with no capital
improvements between 1998 and 2000
3916 272 1669 135 1840
Capital improvements not
reported
1760 132 269 98 1261

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
7479 1059 729 573 5117
Less than $500 2317 433 171 187 1526
$500 to $999 1784 321 213 140 1109
$1,000 to $2,499 2383 221 253 208 1701
$2,500 to $4,999 559 25 70 22 442
$5,000 to $7,499 180 53 7 15 105
$7,500 to $9,999 66 0 0 0 66
$10,000 to $14,999 65 0 0 0 65
$15,000 to $19,999 24 0 6 0 18
$20,000 to $29,999 17 1 7 0 9
$30,000 or more 84 6 3 0 76
Median 899 651 954 855 965
Mean 2802 1655 1770 1088 3378
Properties with no capital
improvements between 1998 and 2000
3916 272 1669 135 1840
Capital improvements not
reported
1760 132 269 98 1261

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
12183 1398 2545 768 7472
Less than $100 179 73 4 17 85
$100 to $199 344 10 137 7 190
$200 to $299 669 95 172 43 359
$300 to $399 1592 122 105 160 1206
$400 to $499 1987 458 149 87 1293
$500 to $599 2351 230 234 221 1665
$600 to $799 1599 192 151 70 1186
$800 to $999 2669 75 1540 118 935
$1000 or more 786 142 54 45 545
No rental receipts 8 0 0 0 8
Median 556 487 842 531 536
Mean 617 571 630 576 626
Acquired 2000 and 2001 (part) 972 66 122 38 746

Rental Receipts as Percent of Value@8

Acquired before 2000
12183 1398 2545 768 7472
Less than 5 percent 150 53 5 12 79
5 to 9 percent 427 34 130 63 199
10 to 14 percent 2769 308 355 261 1845
15 to 19 percent 5065 335 1780 272 2678
20 to 24 percent 1682 294 180 87 1121
25 to 29 percent 876 223 30 27 595
30 to 39 percent 662 121 37 33 472
40 percent or more 546 31 28 14 474
Median 18 20 17 16 18
Acquired 2000 and 2001 (part) 972 66 122 38 746

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
12183 1398 2545 768 7472
Less than 1.0 percent 1315 192 142 46 934
1.0 to 2.9 percent 2258 349 200 227 1483
3.0 to 4.9 percent 1901 230 171 128 1373
5.0 to 6.9 percent 1084 172 104 102 706
7.0 to 8.9 percent 2179 52 1510 45 572
9.0 to 10.9 percent 664 34 50 27 554
11.0 to 12.9 percent 402 117 25 74 186
13.0 to 14.9 percent 131 10 13 0 108
15.0 percent or more 603 107 61 20 415
Not reported or not computed 1647 135 270 99 1142
Median 4.8 3.8 7.7 4.0 4.1
Acquired 2000 and 2001 (part) 972 66 122 38 746

Age Restrictions

Property restricted to people
age 55 or older
2940 382 396 166 1995
Property not restricted to people
age 55 or older
9833 1056 2173 589 6016
Not reported 382 25 98 51 208

Age Composition

Over one-half the residents of the
building age 55 or older
891 121 79 92 599
Over one-half the residents of the
building not age 55 or older
8694 888 2088 470 5248
Not reported 3570 454 501 244 2372

Meal Service Provided by Properties
Exclusively or Predominantly Occupied by
People Age 55 or Older

Property provides meal service
1845 259 185 109 1292
Charge included in rent 1226 201 65 91 869
Charge not included in rent 275 15 21 13 226
Not reported 344 43 99 4 198
Property does not provide meal
service
1885 284 273 159 1170
Not reported 9425 921 2210 539 5756

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
1189 201 165 116 707
Government rental subsidy 3164 704 420 196 1843
Government grant 191 16 0 90 85
Property tax relief 800 85 63 74 578
Federal income tax credit for
low-income, old or historic properties
696 59 77 105 455
Accelerated federal income tax
depreciation for low- and
moderate-income properties
290 58 50 10 172
Subsidy from a non-profit corporation 219 27 76 3 113
None of the above benefits 7975 561 2006 373 5035
Not reported 862 83 114 75 590

Source of Property Benefits@1

With property benefits
4319 820 548 358 2594
Federal government 3491 764 419 291 2017
State government 563 23 78 101 361
Local government 470 49 26 22 373
Non-profit corporation 219 27 76 3 113
Not reported 143 1 0 46 96
With no property benefits 7975 561 2006 373 5035
Not reported 862 83 114 75 590

Reason for Benefits@1

With property benefits
4319 820 548 358 2594
Occupied by low- or moderate-income
individuals
3658 715 478 326 2140
Occupied by elderly or disabled
individuals
1816 372 309 103 1032
A historic structure 109 11 8 14 77
Located in a community development or
economic development area
263 12 33 17 202
Covered by a Homestead Exemption 39 0 0 0 39
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0
Other reason 90 9 9 6 66
Not reported 127 24 4 0 99
With no property benefits 7975 561 2006 373 5035
Not reported 862 83 114 75 590

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
5147 710 534 397 3506
Property has never had tenants
receiving Section 8 assistance
7173 692 2009 308 4164
Not reported 835 62 124 101 548

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
1710 139 200 161 1209
Limited partnership 4965 893 477 372 3223
Joint venture 108 9 20 5 74
General partnership 1252 168 118 61 905
Life insurance company 13 0 0 0 13
Depository institution 0 0 0 0 0
Public real estate investment trust 226 14 36 5 172
Private real estate investment trust 72 0 6 0 66
Corporation - other than real estate
investment trust
3323 113 1591 88 1531
Housing cooperative organization 42 6 6 2 28
Non-profit or church-related institution 983 99 203 64 616
Pension fund 20 0 0 0 20
Fraternal organization 9 0 0 6 4
Other 432 22 11 42 358

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
11766 1325 2480 708 7254
2 mortgages 1048 92 120 80 756
3 or more mortgages 341 46 68 18 209

Form of Debt of First Mortgage

Mortgage or deed of trust
13152 1463 2665 806 8218
Contract to purchase 0 0 0 0 0
Some other loan secured by this property 3 0 3 0 0

Method of Loan Application

By computer over the Internet or
by e-mail
6 0 6 0 0
By telephone or FAX 1317 84 97 94 1042
By regular mail 958 221 64 72 601
By personal visit 4775 564 525 291 3395
Through third party (such as real
estate agent or builder)
3602 354 1683 93 1473
Some other way 788 70 11 147 560
Not reported 1153 97 208 23 825
Not available 556 74 72 88 322

Origin of First Mortgage

Mortgage made at time property acquired
7475 951 846 417 5260
Mortgage assumed at the time property
acquired
856 116 128 97 517
Mortgage placed later than acquisition of
property
4824 396 1694 292 2442
Refinanced mortgage 4613 377 1664 290 2281
Same lender 879 128 73 107 571
Different lender 3733 249 1591 183 1710
Mortgage placed on property
owned free and clear of debt
212 20 30 2 160
Not available 0 0 0 0 0

Purpose of First Mortgage Placed
Later Than Acquisition of Property

Properties on which
mortgages placed later
than acquisition of property
4824 396 1694 292 2442
Obtain lower interest rate 3080 102 1569 143 1266
Increase payment period for mortgage 91 0 5 45 41
Reduce payment period for mortgage 15 0 0 0 15
Renew or extend loan that had fallen
due, without increasing outstanding
balance
461 97 24 53 287
Receive cash or increase outstanding
balance of loan
656 56 37 28 535
Other reason 458 131 58 16 252
Not reported 64 10 1 7 46
Other properties 8331 1067 973 514 5777
Not available 0 0 0 0 0

Cash Received From Refinancing
or Placing Mortgage on Property
Owned Free and Clear

Properties on which cash
received
2908 74 1569 70 1194
Less than $1,000,000 804 40 59 42 662
$1,000,000 to $1,999,999 1729 10 1472 17 230
$2,000,000 to $2,999,999 89 6 8 1 74
$3,000,000 to $3,999,999 103 4 10 0 88
$4,000,000 to $4,999,999 76 0 4 6 67
$5,000,000 to $7,499,999 24 10 0 1 12
$7,500,000 to $9,999,999 32 3 8 0 21
$10,000,000 to $14,999,999 6 0 1 2 3
$15,000,000 to $19,999,999 21 0 3 0 18
$20,000,000 to $29,999,999 21 0 0 2 19
$30,000,000 to $39,999,999 0 0 0 0 0
$40,000,000 to $49,999,999 0 0 0 0 0
$50,000,000 or more 3 0 3 0 0
Not reported 0 0 0 0 0
Median 1375894 919991 1492555 838194 901653
Mean 1659754 2057679 1392219 1968335 1968346
Properties that refinanced
and did not receive cash back
1624 284 104 192 1043
Properties that refinanced
and did not report if received
cash back
293 38 21 30 205
Properties that did not
refinance
8331 1067 973 514 5777
Not available 0 0 0 0 0

Use of Cash From Refinancing or
Placing Mortgage on Property Owned Free
and Clear

Properties on which cash
received@1
2908 74 1569 70 1194
For additions, improvements or repairs
to this property
2133 34 1487 54 557
To consolidate debts 150 7 10 3 129
For investment in other real estate 1964 23 1497 13 431
For other types of investments 274 24 30 1 220
For educational or medical expenses 0 0 0 0 0
To start a business 0 0 0 0 0
To settle a divorce 4 0 0 0 4
To pay taxes 11 0 0 0 11
To purchase an automobile, truck, or
other vehicle
2 0 0 0 2
To purchase consumer product other than
automobile, truck, or other vehicle
57 0 0 0 57
Other 258 12 19 7 221
Not reported 47 0 1 0 46
Properties that refinanced
and did not receive cash back
1624 284 104 192 1043
Properties that refinanced
and did not report if received
cash back
293 38 21 30 205
Properties that did not
refinance
8331 1067 973 514 5777
Not available 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
1334 138 188 98 910
Provide funds for the purchase of this
property
423 35 63 19 306
Provide funds for additions,
improvements or repairs to this
property
423 34 73 33 283
Provide funds for consolidation of debts 72 6 4 0 62
Provide funds for investment in other
real estate
33 7 0 0 26
Provide funds for other types of
investments
17 11 7 0 0
Provide funds for educational or
medical expenses
0 0 0 0 0
Provide funds for starting a business 7 0 0 0 7
Provide funds to settle a divorce 7 0 0 0 7
Provide funds to pay taxes 3 0 0 0 3
Provide funds to purchase automobile,
truck, or vehicle
0 0 0 0 0
Provide funds to purchase another type
of consumer product
0 0 0 0 0
Other reasons 218 39 10 27 143
Not reported 128 6 31 19 72
Other properties 11821 1325 2480 708 7309

Purpose of Line of Credit

Properties with second
mortgage or line of credit
67 0 0 2 66
Provide funds for additions,
improvements or repairs to this
property
7 0 0 0 7
Provide funds for consolidation of debts 0 0 0 0 0
Provide funds for investment in other
real estate
28 0 0 0 28
Provide funds for other types of
investments
0 0 0 0 0
Provide funds for educational or
medical expenses
0 0 0 0 0
Provide funds for starting a business 0 0 0 0 0
Provide funds to settle a divorce 0 0 0 0 0
Provide funds to pay taxes 0 0 0 0 0
Provide funds to purchase automobile,
truck, or vehicle
0 0 0 0 0
Provide funds to purchase another type
of consumer product
0 0 0 0 0
Other reasons 0 0 0 0 0
Not reported 33 0 0 2 31
Other properties 13088 1463 2667 805 8153

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
2922 292 257 104 2268
1997 and 1998 4223 178 1672 219 2154
1995 and 1996 1336 165 90 210 871
1990 to 1994 1347 196 156 99 896
1985 to 1989 953 68 215 65 604
1980 to 1984 1068 332 125 49 562
1979 or earlier 1306 232 152 60 863

Traditional First Mortgage Loan

Less than $500,000
644 43 215 26 360
$500,000 to $999,999 990 98 111 87 694
$1,000,000 to $1,499,999 1599 140 250 107 1102
$1,500,000 to $1,999,999 1594 343 72 72 1106
$2,000,000 to $2,499,999 990 145 54 80 711
$2,500,000 to $2,999,999 899 33 176 94 596
$3,000,000 to $3,999,999 1282 130 98 65 990
$4,000,000 to $4,999,999 905 173 66 93 573
$5,000,000 to $7,499,999 2581 205 1520 43 812
$7,500,000 to $9,999,999 483 50 19 32 382
$10,000,000 to $12,499,999 308 28 27 24 229
$12,500,000 to $14,999,999 188 20 24 6 138
$15,000,000 to $19,999,999 128 28 15 4 82
$20,000,000 or more 157 20 17 28 93
Not reported 405 8 3 45 349
Median 2809826 2356648 5476075 2543012 2472654
Mean 4113924 4049358 5125913 4163624 3778452

Total Mortgage Loan

Less than $500,000
467 43 157 26 240
$500,000 to $999,999 1028 87 92 81 767
$1,000,000 to $1,499,999 1605 140 275 92 1099
$1,500,000 to $1,999,999 1487 263 120 65 1039
$2,000,000 to $2,499,999 944 140 54 101 650
$2,500,000 to $2,999,999 839 35 175 75 554
$3,000,000 to $3,999,999 1417 182 92 85 1058
$4,000,000 to $4,999,999 1002 197 68 97 639
$5,000,000 to $7,499,999 2622 213 1519 43 847
$7,500,000 to $9,999,999 514 57 29 34 394
$10,000,000 to $12,499,999 312 26 19 22 244
$12,500,000 to $14,999,999 193 20 30 4 140
$15,000,000 to $19,999,999 140 30 18 4 89
$20,000,000 or more 180 21 18 32 109
Not reported 405 8 3 45 349
Median 3003801 3108654 5494243 2601281 2625994
Mean 4270473 4259266 5212254 4359125 3945139

Traditional First Mortgage Outstanding
Debt

Less than $500,000
1230 250 303 45 631
$500,000 to $999,999 1597 158 99 99 1240
$1,000,000 to $1,499,999 1687 217 204 128 1138
$1,500,000 to $1,999,999 1376 224 116 124 912
$2,000,000 to $2,499,999 932 59 108 53 713
$2,500,000 to $2,999,999 816 42 106 71 597
$3,000,000 to $3,999,999 1051 204 79 38 729
$4,000,000 to $4,999,999 751 75 48 89 539
$5,000,000 to $7,499,999 2306 102 1511 45 647
$7,500,000 to $9,999,999 409 40 22 26 320
$10,000,000 to $12,499,999 234 25 34 6 168
$12,500,000 to $14,999,999 144 26 14 8 96
$15,000,000 to $19,999,999 101 13 4 6 79
$20,000,000 or more 117 19 15 22 62
Not reported 405 8 3 45 349
Median 2260474 1727741 5444187 1936752 2009756
Mean 3572610 3099432 4776702 3573717 3252358

Total Mortgage Outstanding Debt

Less than $500,000
999 244 232 37 486
$500,000 to $999,999 1648 145 93 83 1327
$1,000,000 to $1,499,999 1619 166 271 138 1045
$1,500,000 to $1,999,999 1296 196 117 128 855
$2,000,000 to $2,499,999 955 62 109 53 731
$2,500,000 to $2,999,999 804 67 95 55 586
$3,000,000 to $3,999,999 1176 234 88 74 779
$4,000,000 to $4,999,999 863 102 44 89 627
$5,000,000 to $7,499,999 2363 113 1522 45 681
$7,500,000 to $9,999,999 426 42 22 28 333
$10,000,000 to $12,499,999 232 23 36 3 170
$12,500,000 to $14,999,999 141 24 12 7 98
$15,000,000 to $19,999,999 116 17 6 7 85
$20,000,000 or more 138 20 17 24 77
Not reported 381 8 3 33 336
Median 2432250 1941981 5465994 2002183 2156114
Mean 3612660 3283915 4858269 3597778 3268362

Current Interest Rate on First Mortgage

Less than 6.0 percent
4898 176 333 530 3859
6.0 percent 125 5 14 3 104
6.1 to 6.4 percent 113 52 10 0 51
6.5 to 6.9 percent 329 102 41 0 186
7.0 percent 958 60 62 93 744
7.1 to 7.4 percent 555 139 96 0 319
7.5 to 7.9 percent 2381 180 1521 9 672
8.0 percent 304 83 45 13 163
8.1 to 8.4 percent 558 111 125 0 322
8.5 to 8.9 percent 455 29 71 0 355
9.0 percent 292 5 148 0 140
9.1 to 9.4 percent 100 15 4 0 81
9.5 to 9.9 percent 94 24 8 0 62
10.0 percent 63 0 46 0 17
10.1 to 10.4 percent 48 41 4 0 3
10.5 to 10.9 percent 59 53 7 0 0
11.0 percent 85 5 4 14 63
11.1 to 12.9 percent 245 215 1 0 28
13.0 percent 22 0 4 0 18
13.1 percent or more 1470 170 125 145 1030
Not reported 0 0 0 0 0
Median 7.2 8.0 7.8 4.6 6.8

Type of Interest Rate Buydown

Properties with interest rate
buydown
23 21 0 0 1
Constant payment 1 0 0 0 1
3-2-1 buydown 5 5 0 0 0
Other 16 16 0 0 0
Not reported 0 0 0 0 0
Properties without interest
rate buydown
5067 454 2185 24 2405
Not reported 8065 988 483 782 5812

Term of First Mortgage

Less than 5 years
57 0 9 7 40
5 years 284 0 1 0 283
6 to 9 years 124 0 3 0 121
10 years 2313 0 1572 0 740
11 to 14 years 114 0 2 0 112
15 years 317 3 25 5 284
16 to 19 years 97 7 9 0 81
20 years 271 3 12 3 254
21 to 24 years 34 13 12 0 8
25 years 236 10 3 0 223
26 to 29 years 29 2 14 0 13
30 years 1682 1332 46 6 299
More than 30 years 829 93 457 3 276
No stated term 6769 0 502 782 5485
Median 16 31 11 16 15

Unexpired Term of First Mortgage

Less than 5 years
665 122 20 7 516
5 to 9 years 2696 236 1564 0 897
10 to 14 years 613 163 57 5 387
15 to 19 years 465 76 40 5 344
20 to 24 years 683 367 82 0 235
25 to 29 years 1077 438 337 6 296
30 or more years 187 62 66 0 59
No stated term or not computed 6769 0 502 782 5485
Median 10 22 8 14 10

Holder of First Mortgage

Commercial bank or trust company
2327 227 70 229 1802
Savings and loan association, federal
savings bank
1267 90 36 176 964
Mutual savings bank 166 53 2 1 110
Life insurance company 723 88 35 1 599
Mortgage banker or mortgage company 50 19 2 6 24
Federally-sponsored secondary market
agency or pool
5510 544 1912 243 2812
Conventional mortgage pool 120 40 0 0 81
Other federal agency 898 134 398 5 361
Real estate investment trust 15 0 0 0 15
Pension or retirement fund 112 44 0 0 68
Credit union 354 38 2 28 286
Finance company 75 20 3 11 41
State or municipal government or
housing finance agency
699 60 166 42 430
Individual or individual's estate 368 21 5 37 305
Other 470 86 37 27 320

Servicer of First Mortgage

Commercial bank or trust company
2311 173 70 229 1840
Savings and loan association, federal
savings bank
1306 103 33 176 993
Mutual savings bank 160 53 2 1 103
Life insurance company 354 73 19 1 261
Mortgage banker or mortgage company 6170 863 1927 249 3131
Federally-sponsored secondary market
agency or pool
35 5 2 0 28
Conventional mortgage pool 68 1 0 0 66
Other federal agency 772 31 398 5 338
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 6 0 0 0 6
Credit union 354 38 2 28 286
Finance company 108 0 3 11 94
State or municipal government or
housing finance agency
705 65 166 42 432
Individual or individual's estate 391 21 5 37 329
Other 415 36 41 27 311

Holder's Acquisition of First Mortgage

Originated directly from borrower
7953 792 1895 485 4781
Purchased from present servicer 3206 252 637 181 2136
Purchased from someone else 1996 419 136 140 1301
Not reported 0 0 0 0 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
7569 949 865 483 5272
Less than 40 percent 377 12 114 51 199
40 to 49 percent 174 10 83 19 63
50 to 59 percent 414 35 28 47 305
60 to 69 percent 653 75 90 44 446
70 to 79 percent 757 69 69 13 606
80 to 89 percent 1176 115 144 28 889
90 to 94 percent 447 47 74 6 320
95 to 99 percent 338 36 35 33 234
100 percent or more 2904 547 203 204 1950
Not reported 328 5 26 37 261
Median 91 13709 83 97 90
Other properties 5586 514 1803 323 2946
Not available 0 0 0 0 0

First Mortgage Loan as a Percent
of Value

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
7569 949 865 483 5272
Less than 40 percent 281 7 28 50 196
40 to 49 percent 93 5 6 11 71
50 to 59 percent 303 5 30 4 264
60 to 69 percent 1971 376 377 119 1099
70 to 79 percent 948 106 100 18 724
80 to 89 percent 1069 71 78 32 888
90 to 94 percent 440 33 109 4 294
95 to 99 percent 221 29 20 29 143
100 percent or more 1969 311 113 179 1366
Not reported 274 5 3 37 229
Median 80 77 70 86 82
Other properties 5586 514 1803 323 2946
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
600 107 19 48 426
Not subprime loan 12555 1356 2648 758 7792
Not reported 0 0 0 0 0

Total Mortgage Loan as a Percent of
Purchase Price

Properties acquired by purchase
with first mortgage made or
assumed at time of purchase
7569 949 865 483 5272
Less than 40 percent 250 12 48 45 144
40 to 49 percent 163 9 74 19 61
50 to 59 percent 411 29 35 47 301
60 to 69 percent 598 61 136 26 376
70 to 79 percent 700 37 35 7 621
80 to 89 percent 1218 119 159 45 896
90 to 94 percent 452 50 68 11 323
95 to 99 percent 368 39 40 26 263
100 percent or more 3080 590 244 221 2025
Not reported 328 5 26 37 261
Median 93 19986 86 100 92
Other properties 5586 514 1803 323 2946
Not available 0 0 0 0 0

Total Mortgage Loan as Percent
of Value

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
7569 949 865 483 5272
Less than 40 percent 669 42 152 63 413
40 to 49 percent 319 26 20 12 262
50 to 59 percent 1008 112 64 64 768
60 to 69 percent 1088 138 197 51 703
70 to 79 percent 1093 126 103 36 827
80 to 89 percent 993 89 98 118 688
90 to 94 percent 390 84 71 12 223
95 to 99 percent 256 26 24 15 190
100 percent or more 1480 302 134 74 970
Not reported 274 5 3 37 229
Median 75 83 70 79 75
Other properties 5586 514 1803 323 2946
Not available 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
731 118 97 43 474
20 to 29 percent 606 100 103 45 358
30 to 39 percent 923 51 152 40 679
40 to 49 percent 1248 173 115 113 847
50 to 59 percent 1634 182 126 113 1212
60 to 69 percent 3299 279 1663 134 1224
70 to 79 percent 1699 299 185 201 1014
80 to 89 percent 1086 57 89 24 916
90 to 99 percent 625 81 44 40 460
100 percent or more 922 115 91 19 698
Not reported or not computed 383 8 3 36 336
Median 64 64 64 62 63

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
2005 106 146 198 1556
Treasury security 417 0 13 0 404
Average cost of funds in bank district 18 0 0 0 18
National average cost of funds 8 0 0 0 8
OTS contract mortgage rate 0 0 0 0 0
Other method 123 0 7 0 117
No index used 26 0 3 0 24
Not reported 1413 106 123 198 987
Other properties 11150 1358 2522 608 6662
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
2005 106 146 198 1556
Monthly 98 0 4 0 94
Every 3 months 8 0 0 0 8
Every 6 months 0 0 0 0 0
Yearly 319 0 3 0 316
Every 3 years 71 0 5 0 66
Every 5 years 66 0 8 0 58
Other 20 0 3 0 18
Not reported 1422 106 123 198 996
Other properties 11150 1358 2522 608 6662
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
2005 106 146 198 1556
Less than 1 percent 13 0 0 0 13
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 204 0 0 0 204
2.1 to 2.9 percent 0 0 0 0 0
3 percent 3 0 0 0 3
3.1 to 3.9 percent 5 0 5 0 0
4.0 percent or more 17 0 0 0 17
No caps 292 0 17 0 275
Not reported 1471 106 123 198 1045
Other properties 11150 1358 2522 608 6662
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
2005 106 146 198 1556
Less than 1 percent 8 0 0 0 8
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 0 0 0 0 0
2.1 to 2.9 percent 0 0 0 0 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 255 0 8 0 247
No caps 296 0 15 0 282
Not reported 1446 106 123 198 1020
Other properties 11150 1358 2522 608 6662
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
2005 106 146 198 1556
Yes, rate has changed 485 0 12 0 473
No change since mortgage made 123 0 11 0 113
Not reported 1397 106 123 198 970
Other properties 11150 1358 2522 608 6662
Not reported 0 0 0 0 0

Change in Monthly Interest and Principal
Payments Other Than Change in Interest
Rate

Monthly payments can change
(other than change in interest
ra
7 0 0 0 7
Payments can change monthly 0 0 0 0 0
Payments can change every three months 0 0 0 0 0
Payments can change every six months 0 0 0 0 0
Payments can change yearly 7 0 0 0 7
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot
change
11720 1358 2544 608 7210
Not reported 1428 106 123 198 1002

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
7 0 0 0 7
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 7 0 0 0 7
Not reported 0 0 0 0 0
Monthly payments cannot change 11720 1358 2544 608 7210
Not reported 1428 106 123 198 1002

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
12549 1417 2583 737 7811
Interest and principal 12490 1417 2574 737 7762
Fully amortized 9866 1249 2081 685 5850
Not fully amortized 2624 168 492 51 1912
Interest only 59 0 10 0 49
No regular payments required 58 2 8 0 48
Not reported 549 44 76 70 359

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
12490 1417 2574 737 7762
Real estate taxes 3886 565 1738 9 1574
Property insurance 3343 575 1701 6 1061
Mortgage insurance 2194 564 1491 3 136
Other 2823 421 1715 0 687
No items included or not reported 8570 841 824 728 6177
No regular payments of interest
and principal
666 46 94 70 456

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
13097 1462 2660 806 8170
Less than $100 1672 247 392 64 970
$100 to $199 4080 568 211 235 3066
$200 to $299 4544 312 1796 306 2130
$300 to $399 1193 161 111 93 829
$400 to $499 534 92 36 23 384
$500 to $599 249 29 12 5 203
$600 to $699 72 2 8 1 60
$700 to $799 22 2 0 0 20
$800 to $899 33 0 3 1 29
$900 to $999 15 0 2 0 13
$1,000 to $1,249 45 5 2 6 33
$1,250 to $1,499 27 0 4 3 21
$1,500 or more 61 0 9 0 52
Not reported 549 44 76 70 359
Median 212 181 238 223 196
Mean 239 205 239 227 246
No regular payments required 58 2 8 0 48

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
13097 1462 2660 806 8170
Up-to-date, ahead of schedule, or
less than 90 days past due
5585 570 2179 24 2813
Delinquent by 90 days or more 10 0 0 0 10
Legal proceedings have begun 3 0 0 0 3
Legal proceedings have not begun 7 0 0 0 7
Not reported 0 0 0 0 0
Not reported 7503 892 481 782 5348
Other properties 58 2 8 0 48

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
13097 1462 2660 806 8170
Less than $100 2046 276 402 115 1252
$100 to $199 4036 517 269 251 2999
$200 to $299 4657 347 1800 307 2204
$300 to $399 1267 189 112 93 873
$400 to $499 535 95 36 20 385
$500 to $599 276 29 12 8 226
$600 to $699 62 2 6 1 53
$700 to $799 32 2 0 0 30
$800 to $899 32 0 4 1 26
$900 to $999 12 0 0 0 12
$1,000 to $1,249 47 5 4 6 33
$1,250 to $1,499 27 0 6 3 19
$1,500 or more 67 0 9 0 58
Not reported 0 0 0 0 0
Median 210 188 237 212 194
Mean 235 206 238 210 242
No regular payments required 58 2 8 0 48

Interest and Principal Payment on
First Mortgage as Percent of Rental
Receipts

Acquired before 2000 and
regular payments of interest
and/or princi
11649 1354 2508 699 7087
Less than 20 percent 1330 173 243 78 837
20 to 29 percent 1813 302 245 83 1183
30 to 39 percent 3986 371 1656 91 1867
40 to 49 percent 2196 202 162 223 1609
50 to 59 percent 1290 102 85 204 900
60 to 69 percent 510 133 48 5 324
70 to 79 percent 119 0 7 3 109
80 to 89 percent 65 1 8 6 50
90 to 99 percent 36 0 3 0 33
100 percent or more 294 70 50 7 167
Not reported or not computed 8 0 0 0 8
Median 37 35 35 44 38
Other properties 1507 109 159 107 1131

Interest and Principal Payment on Total
Mortgages as Percent of Rental Receipts

Acquired before 2000 and regular
payments of interest and/or
principal
11672 1356 2510 700 7105
Less than 20 percent 1229 159 216 55 800
20 to 29 percent 1660 249 188 99 1124
30 to 39 percent 3907 375 1667 90 1775
40 to 49 percent 2246 239 146 228 1633
50 to 59 percent 1422 130 119 205 968
60 to 69 percent 657 133 105 9 411
70 to 79 percent 119 0 7 3 109
80 to 89 percent 68 1 8 6 53
90 to 99 percent 58 0 3 0 55
100 percent or more 298 70 50 7 170
Not reported or not computed 8 0 0 0 8
Median 38 37 35 45 39
Other properties 1483 107 157 106 1113

Real Estate Tax Per Housing Unit

Acquired before 2000
12183 1398 2545 768 7472
Less than $100 1003 147 142 78 636
$100 to $199 531 50 41 23 417
$200 to $299 1147 188 199 69 691
$300 to $399 1330 246 139 124 821
$400 to $499 1224 251 51 127 795
$500 to $599 951 119 91 91 649
$600 to $699 1167 71 120 47 928
$700 to $799 2218 75 1496 19 628
$800 to $899 687 52 52 74 509
$900 to $999 418 72 82 28 236
$1,000 to $1,249 588 49 80 26 433
$1,250 to $1,499 355 37 22 23 274
$1,500 to $1,999 266 18 12 6 230
$2,000 to $2,499 90 10 3 7 70
$2,500 or more 77 4 14 10 49
Not reported 132 8 1 17 105
Median 583 425 733 464 550
Mean 615 510 677 582 617
Acquired 2000 and 2001 (part) 972 66 122 38 746

Real Estate Tax Per $1,000 Value

Acquired before 2000
12183 1398 2545 768 7472
Less than $5 1199 145 171 93 790
$5 to $9 1120 140 154 130 696
$10 to $14 2410 502 253 181 1474
$15 to $19 3777 228 1657 214 1678
$20 to $24 1446 116 118 51 1160
$25 to $29 985 128 102 38 716
$30 to $39 1088 130 89 43 826
$40 to $49 8 0 0 0 8
$50 to $59 0 0 0 0 0
$60 or more 19 0 0 0 19
Not reported or not computed 132 8 1 17 105
Median 17 14 17 14 17
Acquired 2000 and 2001 (part) 972 66 122 38 746

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
12183 1398 2545 768 7472
Less than 5 percent 1941 213 246 123 1358
5 to 9 percent 5831 715 1915 391 2810
10 to 14 percent 3215 310 244 183 2479
15 to 19 percent 718 81 102 47 489
20 to 24 percent 228 17 17 0 194
25 to 29 percent 21 0 10 0 11
30 to 34 percent 10 10 0 0 0
35 to 39 percent 5 0 5 0 0
40 percent or more 74 44 5 7 18
Not reported or not computed 139 8 1 17 113
Median 8 8 8 8 9
Acquired 2000 and 2001 (part) 972 66 122 38 746

Property Management

Property managed by paid property
management company
11640 1252 2422 728 7238
Property not managed by paid property
management company
1159 191 160 30 778
Not reported 357 21 86 48 202

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
12183 1398 2545 768 7472
Less than $100 54 0 26 0 27
$100 to $199 468 71 40 18 339
$200 to $299 1152 101 82 51 917
$300 to $399 1643 177 115 161 1190
$400 to $499 2825 142 1633 94 955
$500 to $599 851 119 52 73 607
$600 to $699 580 44 146 34 356
$700 to $799 370 44 47 79 199
$800 to $899 328 42 29 16 240
$900 to $999 422 115 9 1 297
$1,000 to $1,249 837 223 114 29 471
$1,250 to $1,499 553 107 64 29 353
$1,500 to $1,999 340 15 36 67 222
$2,000 to $2,499 43 8 7 1 26
$2,500 or more 211 46 6 9 150
No expenses 551 90 19 26 415
Not reported or not computed 956 52 118 79 707
Median 472 640 458 512 473
Acquired 2000 and 2001 (part) 972 66 122 38 746

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
12183 1398 2545 768 7472
Less than $100 211 104 4 2 101
$100 to $199 525 23 78 56 369
$200 to $299 464 47 37 18 362
$300 to $399 645 70 138 69 368
$400 to $499 787 95 74 88 531
$500 to $599 948 82 73 32 762
$600 to $699 596 50 49 20 477
$700 to $799 761 47 135 23 556
$800 to $899 1958 63 1488 39 368
$900 to $999 539 34 96 33 375
$1,000 to $1,249 1267 195 52 74 946
$1,250 to $1,499 803 234 32 38 500
$1,500 to $1,999 863 140 122 23 579
$2,000 to $2,499 169 56 14 21 78
$2,500 or more 333 88 17 2 226
No expenses 117 13 0 55 48
Not reported or not computed 1196 57 137 177 826
Median 825 1063 841 620 759
Acquired 2000 and 2001 (part) 972 66 122 38 746

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
12183 1398 2545 768 7472
Less than $250 894 143 158 54 540
$250 to $499 3677 496 328 231 2621
$500 to $749 3881 285 1706 114 1776
$750 to $999 1205 195 111 111 789
$1,000 to $1,249 746 150 33 68 494
$1,250 to $1,499 220 6 57 20 138
$1,500 to $1,749 98 4 6 2 86
$1,750 to $1,999 40 2 5 4 29
$2,000 to $2,499 14 5 0 0 9
$2,500 or more 87 26 8 0 53
No expenses 151 26 0 48 76
Not reported or not computed 1171 59 134 118 860
Median 555 515 605 536 515
Acquired 2000 and 2001 (part) 972 66 122 38 746

Source: U.S. Census Bureau | Residential Finance Survey |  Last Revised: 2012-08-02T15:15:13.203-04:00