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Residential Finance Survey: 2001 - West
Table 7-3e. 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
14812 1385 1114 1076 11236

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
13934 1296 962 977 10699
In central cities 7730 789 538 515 5888
Not in central cities 6205 507 425 462 4811
Outside MAs 877 89 151 100 537

Number of Housing Units

50 to 74 housing units
4863 270 427 335 3831
75 to 99 housing units 2776 253 173 196 2154
100 to 149 housing units 3234 410 196 231 2397
150 to 199 housing units 1314 132 77 129 975
200 to 299 housing units 1611 198 147 112 1154
300 to 499 housing units 795 90 71 55 579
500 to 999 housing units 201 30 22 17 132
1,000 or more housing units 17 1 1 1 14

Manner of Acquisition

By purchase
13353 1268 1045 998 10043
Placed one new mortgage 10045 943 706 806 7590
Placed two or more new mortgages 1061 98 94 97 771
Assumed mortgage(s) already on property 1424 186 169 67 1002
Assumed mortgage(s) already on property
and placed new mortgage
264 19 9 11 225
Borrowed using assets other than this
property as collateral
75 1 6 1 68
Paid all cash-no borrowing 341 14 43 8 277
Other manner 141 7 18 7 110
By inheritance or gift 92 15 3 9 66
By divorce 16 0 5 0 11
By tax free exchange of
other property
445 9 20 9 408
By foreclosure or assignment 111 13 6 20 72
By some other manner 235 33 12 12 178
Not reported 559 48 24 28 459

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
6736 665 514 443 5114
Sale of stock or other partnership
shares for this project
753 86 69 49 547
Sale of previously owned stocks,
shares, or other securities
86 0 20 8 58
Sale of land or other real estate 962 66 84 69 742
Owner's cash, bank deposits,
share accounts, or bonds
2775 276 244 178 2077
Borrowing from a retirement plan 15 3 0 0 12
Borrowing using assets other than this
property as collateral
449 4 26 13 406
Proceeds from an insurance policy 10 0 3 0 7
From a state or local government source 154 7 10 6 131
From a non-profit organization 98 25 2 3 68
Proceeds from sale of tax credits 498 61 19 72 346
From parents or relatives 37 0 0 0 37
Other cash source 264 47 9 2 205
Non-cash source 96 1 5 5 85
No downpayment required 511 35 32 36 408
Not reported 891 108 49 43 691
Other properties 7817 691 590 622 5913
Not reported 259 30 9 11 210

Year Property Acquired

1999 to 2001 (part)
3244 301 276 168 2499
1997 and 1998 2566 260 190 188 1927
1995 and 1996 1571 166 68 111 1225
1990 to 1994 2267 193 235 164 1675
1985 to 1989 1743 96 113 110 1423
1980 to 1984 1275 94 90 70 1021
1975 to 1979 1068 117 69 159 724
1970 to 1974 719 100 60 75 483
1969 or earlier 359 57 13 31 258

Building and Land Acquisition

Acquired at same time
10922 960 868 769 8325
Not acquired at same time 3164 380 228 262 2294
Land not owned by building owner 185 13 6 2 164
Not reported 541 32 12 44 453

Property New or Previously Owned When
Acquired

Acquired by purchase
13353 1268 1045 998 10043
New 4551 513 437 414 3187
Previously owned 8601 749 598 576 6678
As residential property 8293 731 587 565 6411
Converted from nonresidential use 308 19 11 11 267
Other 56 0 7 0 49
Not reported 145 6 3 8 129
Other properties 900 70 45 50 735
Not reported 559 48 24 28 459

Year Structure Built

1999 to March 2000
457 53 20 29 355
1997 and 1998 870 144 60 46 620
1995 and 1996 673 78 65 63 467
1990 to 1994 999 93 124 91 691
1980 to 1989 4244 385 334 254 3272
1970 to 1979 4670 451 326 340 3552
1960 to 1969 1892 128 126 159 1479
1950 to 1959 311 19 11 8 274
1940 to 1949 143 2 7 30 104
1939 or earlier 554 32 41 57 423

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
5287 504 450 343 3990
Less than $20,000 614 13 69 26 506
$20,000 to $39,999 1671 134 117 101 1319
$40,000 to $59,999 1476 206 108 106 1055
$60,000 to $79,999 836 93 109 35 600
$80,000 to $99,999 364 36 23 21 284
$100,000 to $124,999 191 20 20 14 137
$125,000 to $149,999 62 1 2 33 25
$150,000 to $174,999 18 0 1 4 12
$175,000 to $199,999 10 0 0 0 10
$200,000 to $249,999 34 1 1 0 32
$250,000 to $299,999 0 0 0 0 0
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 4 0 0 3 1
Median 44812 50247 47240 48365 43144
Mean 50100 52836 50620 64946 48418
Other properties 9525 881 663 734 7247

Value

Less than $1,000,000
365 18 45 2 299
$1,000,000 to $1,999,999 1339 107 176 59 996
$2,000,000 to $2,999,999 1811 125 133 117 1435
$3,000,000 to $3,999,999 1964 130 103 161 1571
$4,000,000 to $4,999,999 1550 148 61 142 1199
$5,000,000 to $7,499,999 2740 255 227 200 2058
$7,500,000 to $9,999,999 1417 129 83 99 1106
$10,000,000 to $14,999,999 1635 220 115 124 1176
$15,000,000 to $19,999,999 795 99 49 55 592
$20,000,000 to $29,999,999 675 63 67 92 453
$30,000,000 to $39,999,999 186 17 30 9 130
$40,000,000 to $49,999,999 126 13 17 10 87
$50,000,000 or more 209 60 7 7 134
Median 5344666 6601996 5423230 5714128 5144043
Mean 8511923 12021410 8337042 8527004 8095100

Value Per Housing Unit@8

Less than $20,000
1168 87 65 52 963
$20,000 to $39,999 3780 304 349 317 2811
$40,000 to $59,999 4104 448 279 241 3136
$60,000 to $79,999 2762 201 217 198 2145
$80,000 to $99,999 1306 130 95 88 993
$100,000 to $124,999 770 70 71 73 556
$125,000 to $149,999 443 67 19 30 327
$150,000 to $174,999 148 16 1 25 106
$175,000 to $199,999 67 13 7 4 43
$200,000 to $249,999 116 9 6 0 101
$250,000 to $299,999 52 2 3 0 46
$300,000 to $499,999 58 3 0 48 7
$500,000 or more 38 36 0 0 2
Median 51978 53476 50216 54028 51763
Mean 61088 76743 56275 71810 58608

Purchase Price as Percent of Value@8

Acquired by purchase
13353 1268 1045 998 10043
Purchased 1997 to 2001 (part) 5287 504 450 343 3990
Less than 60 percent 660 61 42 45 513
60 to 69 percent 442 46 38 32 326
70 to 79 percent 732 114 31 23 564
80 to 99 percent 1649 108 140 83 1318
100 percent or more 1797 175 201 160 1261
Median 90 86 97 97 89
Purchased 1990 to 1996 (part) 3478 331 274 236 2637
Less than 40 percent 412 20 20 33 339
40 to 59 percent 654 48 51 68 488
60 to 79 percent 774 91 38 60 585
80 to 99 percent 609 46 73 26 464
100 percent or more 1028 126 91 48 762
Median 77 83 88 66 77
Purchased 1989 or earlier 4588 432 320 420 3416
Less than 20 percent 393 41 11 15 325
20 to 39 percent 686 56 35 108 487
40 to 59 percent 883 71 49 43 720
60 to 79 percent 713 72 81 37 524
80 to 99 percent 429 56 46 25 302
100 percent or more 1469 137 99 192 1042
Median 69 73 76 85 66
Not acquired by purchase 1459 118 69 78 1194

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
9847 944 766 726 7411
Less than $50,000 2947 253 239 174 2281
$50,000 to $99,999 1959 204 120 191 1443
$100,000 to $249,999 2414 192 228 181 1814
$250,000 to $499,999 1372 186 99 110 977
$500,000 to $749,999 431 42 25 30 334
$750,000 to $999,999 180 28 19 9 124
$1,000,000 to $1,499,999 198 24 17 11 146
$1,500,000 to $1,999,999 84 2 4 10 67
$2,000,000 to $2,999,999 102 8 8 2 83
$3,000,000 or more 159 4 5 8 141
Median 101064 111226 115705 99497 99335
Mean 351227 263118 320722 279212 372658
Properties with no capital
improvements between 1998 and 2000
2963 237 169 185 2371
Capital improvements not
reported
2002 205 179 165 1454

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
9847 944 766 726 7411
Less than $500 3136 297 237 221 2382
$500 to $999 2109 235 152 164 1559
$1,000 to $2,499 2805 247 238 187 2134
$2,500 to $4,999 1142 125 89 104 824
$5,000 to $7,499 271 30 29 16 195
$7,500 to $9,999 86 3 9 16 57
$10,000 to $14,999 92 2 6 7 77
$15,000 to $19,999 30 4 3 1 22
$20,000 to $29,999 63 0 0 0 63
$30,000 or more 113 1 4 9 98
Median 924 873 981 933 925
Mean 2322 1542 1763 2096 2502
Properties with no capital
improvements between 1998 and 2000
2963 237 169 185 2371
Capital improvements not
reported
2002 205 179 165 1454

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
12666 1195 996 967 9508
Less than $100 294 25 28 8 233
$100 to $199 336 29 27 36 243
$200 to $299 528 37 47 19 424
$300 to $399 1266 99 124 83 959
$400 to $499 1842 154 152 129 1407
$500 to $599 2315 233 132 193 1756
$600 to $799 1872 205 150 183 1334
$800 to $999 2697 245 213 197 2043
$1000 or more 1483 165 122 111 1084
No rental receipts 33 3 0 6 24
Median 589 618 590 612 584
Mean 674 687 706 679 669
Acquired 2000 and 2001 (part) 2145 191 118 109 1728

Rental Receipts as Percent of Value@8

Acquired before 2000
12666 1195 996 967 9508
Less than 5 percent 480 86 24 67 304
5 to 9 percent 1254 98 57 92 1006
10 to 14 percent 5744 518 536 343 4347
15 to 19 percent 2740 257 211 250 2021
20 to 24 percent 985 80 73 91 740
25 to 29 percent 535 38 19 79 399
30 to 39 percent 388 56 33 25 275
40 percent or more 515 61 44 18 392
Median 14 14 14 15 14
Acquired 2000 and 2001 (part) 2145 191 118 109 1728

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
12666 1195 996 967 9508
Less than 1.0 percent 1423 154 136 118 1015
1.0 to 2.9 percent 2635 215 197 210 2014
3.0 to 4.9 percent 2542 224 212 220 1887
5.0 to 6.9 percent 1519 189 127 92 1110
7.0 to 8.9 percent 794 77 59 63 595
9.0 to 10.9 percent 542 60 21 33 429
11.0 to 12.9 percent 300 39 23 16 221
13.0 to 14.9 percent 120 11 4 7 99
15.0 percent or more 795 64 24 56 653
Not reported or not computed 1995 161 195 153 1485
Median 4.0 4.3 3.6 3.7 4.0
Acquired 2000 and 2001 (part) 2145 191 118 109 1728

Age Restrictions

Property restricted to people
age 55 or older
2723 337 208 182 1996
Property not restricted to people
age 55 or older
11736 1011 883 870 8972
Not reported 352 37 22 24 268

Age Composition

Over one-half the residents of the
building age 55 or older
499 40 26 62 370
Over one-half the residents of the
building not age 55 or older
10933 937 838 774 8384
Not reported 3380 408 250 240 2482

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

Property provides meal service
1381 173 83 91 1033
Charge included in rent 958 140 47 67 704
Charge not included in rent 117 12 19 6 80
Not reported 306 21 17 19 249
Property does not provide meal
service
1497 173 133 157 1034
Not reported 11933 1039 898 827 9169

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
1738 246 196 164 1132
Government rental subsidy 3048 293 303 270 2183
Government grant 288 23 16 65 183
Property tax relief 1003 109 50 115 729
Federal income tax credit for
low-income, old or historic properties
994 112 93 100 689
Accelerated federal income tax
depreciation for low- and
moderate-income properties
237 35 23 7 173
Subsidy from a non-profit corporation 228 6 16 32 174
None of the above benefits 8881 698 597 647 6939
Not reported 1306 186 63 69 988

Source of Property Benefits@1

With property benefits
4625 501 454 361 3309
Federal government 3266 399 358 293 2216
State government 581 37 38 42 464
Local government 961 99 73 72 716
Non-profit corporation 228 6 16 32 174
Not reported 166 16 20 5 125
With no property benefits 8881 698 597 647 6939
Not reported 1306 186 63 69 988

Reason for Benefits@1

With property benefits
4625 501 454 361 3309
Occupied by low- or moderate-income
individuals
4004 402 416 320 2866
Occupied by elderly or disabled
individuals
1475 161 97 173 1044
A historic structure 19 4 0 0 14
Located in a community development or
economic development area
215 12 19 7 177
Covered by a Homestead Exemption 15 3 0 7 4
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 31 3 0 0 29
Other reason 105 35 0 2 68
Not reported 252 19 11 15 206
With no property benefits 8881 698 597 647 6939
Not reported 1306 186 63 69 988

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
7438 623 535 594 5686
Property has never had tenants
receiving Section 8 assistance
6352 688 501 417 4747
Not reported 1022 75 78 66 804

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
2814 187 132 228 2268
Limited partnership 5681 656 517 398 4111
Joint venture 221 20 19 18 164
General partnership 1163 75 86 86 917
Life insurance company 15 8 0 2 5
Depository institution 0 0 0 0 0
Public real estate investment trust 176 31 30 2 113
Private real estate investment trust 56 0 6 2 48
Corporation - other than real estate
investment trust
2933 233 189 186 2325
Housing cooperative organization 110 14 4 9 84
Non-profit or church-related institution 1054 106 39 92 817
Pension fund 21 15 0 0 6
Fraternal organization 2 0 0 0 2
Other 566 41 92 55 377

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
12849 1192 942 900 9815
2 mortgages 1493 144 137 93 1118
3 or more mortgages 470 50 34 83 303

Form of Debt of First Mortgage

Mortgage or deed of trust
14812 1385 1114 1076 11236
Contract to purchase 0 0 0 0 0
Some other loan secured by this property 0 0 0 0 0

Method of Loan Application

By computer over the Internet or
by e-mail
36 4 1 0 31
By telephone or FAX 2006 147 190 121 1548
By regular mail 1931 147 132 147 1505
By personal visit 4850 487 302 363 3699
Through third party (such as real
estate agent or builder)
3336 261 226 247 2601
Some other way 505 69 48 59 329
Not reported 1272 164 110 101 897
Not available 876 106 104 39 627

Origin of First Mortgage

Mortgage made at time property acquired
9237 931 660 633 7013
Mortgage assumed at the time property
acquired
1554 195 179 79 1101
Mortgage placed later than acquisition of
property
4021 259 274 364 3123
Refinanced mortgage 3879 255 250 356 3019
Same lender 952 77 36 86 753
Different lender 2928 178 213 270 2266
Mortgage placed on property
owned free and clear of debt
141 5 25 8 104
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
4021 259 274 364 3123
Obtain lower interest rate 1989 116 118 222 1532
Increase payment period for mortgage 57 4 1 3 48
Reduce payment period for mortgage 13 0 0 0 13
Renew or extend loan that had fallen
due, without increasing outstanding
balance
641 38 63 47 492
Receive cash or increase outstanding
balance of loan
809 65 55 69 620
Other reason 347 29 24 17 277
Not reported 165 6 13 5 141
Other properties 10791 1126 839 712 8113
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
1496 90 116 141 1149
Less than $1,000,000 727 41 40 64 582
$1,000,000 to $1,999,999 331 21 21 43 246
$2,000,000 to $2,999,999 118 3 8 7 100
$3,000,000 to $3,999,999 97 5 9 8 74
$4,000,000 to $4,999,999 74 0 10 8 56
$5,000,000 to $7,499,999 64 3 13 7 42
$7,500,000 to $9,999,999 15 1 1 1 11
$10,000,000 to $14,999,999 19 0 5 2 12
$15,000,000 to $19,999,999 22 8 5 0 8
$20,000,000 to $29,999,999 10 2 2 0 5
$30,000,000 to $39,999,999 10 1 0 0 9
$40,000,000 to $49,999,999 3 0 0 0 3
$50,000,000 or more 7 4 1 0 2
Not reported 0 0 0 0 0
Median 1065130 1183110 1882410 1150166 987745
Mean 3767268 24992615 4441126 1625873 2307869
Properties that refinanced
and did not receive cash back
1991 111 127 168 1585
Properties that refinanced
and did not report if received
cash back
533 59 31 55 389
Properties that did not
refinance
10791 1126 839 712 8113
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
1496 90 116 141 1149
For additions, improvements or repairs
to this property
708 34 49 65 560
To consolidate debts 137 13 11 4 109
For investment in other real estate 805 57 37 45 665
For other types of investments 235 8 15 41 172
For educational or medical expenses 5 0 0 0 5
To start a business 1 0 0 0 1
To settle a divorce 2 0 0 0 2
To pay taxes 2 2 0 0 0
To purchase an automobile, truck, or
other vehicle
8 0 0 0 8
To purchase consumer product other than
automobile, truck, or other vehicle
6 1 0 0 5
Other 139 13 5 15 105
Not reported 25 1 9 0 14
Properties that refinanced
and did not receive cash back
1991 111 127 168 1585
Properties that refinanced
and did not report if received
cash back
533 59 31 55 389
Properties that did not
refinance
10791 1126 839 712 8113
Not available 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
1899 188 170 174 1366
Provide funds for the purchase of this
property
738 75 56 88 519
Provide funds for additions,
improvements or repairs to this
property
483 32 64 21 366
Provide funds for consolidation of debts 74 4 2 3 65
Provide funds for investment in other
real estate
125 25 6 8 87
Provide funds for other types of
investments
52 18 5 3 25
Provide funds for educational or
medical expenses
3 0 0 0 3
Provide funds for starting a business 0 0 0 0 0
Provide funds to settle a divorce 3 0 0 0 3
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 152 4 4 13 131
Not reported 269 32 33 38 166
Other properties 12913 1197 944 902 9870

Purpose of Line of Credit

Properties with second
mortgage or line of credit
119 6 1 2 110
Provide funds for additions,
improvements or repairs to this
property
18 0 0 0 18
Provide funds for consolidation of debts 10 0 0 0 10
Provide funds for investment in other
real estate
9 0 0 0 9
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 8 3 0 0 5
Not reported 75 3 1 2 68
Other properties 14693 1380 1112 1074 11126

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
4944 412 406 330 3795
1997 and 1998 3494 319 231 239 2706
1995 and 1996 1819 159 107 122 1431
1990 to 1994 1903 184 145 165 1408
1985 to 1989 892 78 51 74 689
1980 to 1984 776 58 102 32 584
1979 or earlier 985 175 73 114 623

Traditional First Mortgage Loan

Less than $500,000
511 22 59 30 400
$500,000 to $999,999 1081 76 93 31 881
$1,000,000 to $1,499,999 1495 121 136 77 1162
$1,500,000 to $1,999,999 1618 84 111 145 1278
$2,000,000 to $2,499,999 1447 193 67 110 1078
$2,500,000 to $2,999,999 1172 93 63 115 901
$3,000,000 to $3,999,999 1912 197 170 124 1421
$4,000,000 to $4,999,999 1178 106 81 124 868
$5,000,000 to $7,499,999 1595 155 132 120 1188
$7,500,000 to $9,999,999 1000 155 61 54 730
$10,000,000 to $12,499,999 509 74 38 41 356
$12,500,000 to $14,999,999 287 31 30 31 194
$15,000,000 to $19,999,999 311 22 40 20 230
$20,000,000 or more 382 41 30 27 284
Not reported 312 15 4 27 267
Median 2967747 3487180 3153827 3134750 2881023
Mean 4828744 5774010 4899778 4744351 4711521

Total Mortgage Loan

Less than $500,000
459 22 40 21 376
$500,000 to $999,999 973 61 96 26 790
$1,000,000 to $1,499,999 1430 119 134 79 1098
$1,500,000 to $1,999,999 1501 85 102 114 1201
$2,000,000 to $2,499,999 1307 183 72 94 958
$2,500,000 to $2,999,999 1196 84 63 114 936
$3,000,000 to $3,999,999 1918 188 164 125 1441
$4,000,000 to $4,999,999 1221 113 65 94 949
$5,000,000 to $7,499,999 1821 164 155 208 1294
$7,500,000 to $9,999,999 1068 171 65 56 775
$10,000,000 to $12,499,999 520 72 41 31 377
$12,500,000 to $14,999,999 322 30 33 38 221
$15,000,000 to $19,999,999 353 33 43 20 257
$20,000,000 or more 410 46 38 30 297
Not reported 312 15 4 27 267
Median 3199782 3696140 3294311 3619760 3087862
Mean 5148644 6193918 5448441 5204056 4982399

Traditional First Mortgage Outstanding
Debt

Less than $500,000
1160 103 122 67 868
$500,000 to $999,999 1409 99 107 74 1129
$1,000,000 to $1,499,999 1548 133 117 90 1208
$1,500,000 to $1,999,999 1845 116 99 166 1464
$2,000,000 to $2,499,999 1297 152 66 104 975
$2,500,000 to $2,999,999 995 117 79 54 745
$3,000,000 to $3,999,999 1695 156 138 156 1245
$4,000,000 to $4,999,999 1012 70 99 98 745
$5,000,000 to $7,499,999 1443 159 106 91 1088
$7,500,000 to $9,999,999 809 121 57 46 584
$10,000,000 to $12,499,999 437 59 30 37 311
$12,500,000 to $14,999,999 261 31 32 34 164
$15,000,000 to $19,999,999 265 17 32 11 205
$20,000,000 or more 322 35 26 21 240
Not reported 312 15 4 27 267
Median 2496369 2845163 2781145 2721304 2418495
Mean 4312798 5108079 4450523 4198065 4210471

Total Mortgage Outstanding Debt

Less than $500,000
1059 92 90 42 835
$500,000 to $999,999 1264 93 118 74 979
$1,000,000 to $1,499,999 1479 105 120 78 1176
$1,500,000 to $1,999,999 1685 100 100 142 1342
$2,000,000 to $2,499,999 1267 169 59 105 934
$2,500,000 to $2,999,999 1044 118 75 59 793
$3,000,000 to $3,999,999 1744 163 142 169 1269
$4,000,000 to $4,999,999 1118 81 77 100 861
$5,000,000 to $7,499,999 1615 174 132 132 1177
$7,500,000 to $9,999,999 846 122 63 43 617
$10,000,000 to $12,499,999 462 69 34 33 326
$12,500,000 to $14,999,999 285 20 32 38 195
$15,000,000 to $19,999,999 301 33 35 9 224
$20,000,000 or more 344 37 34 26 248
Not reported 300 9 4 27 261
Median 2740709 3065080 2954553 3152221 2639836
Mean 4512798 5444076 4950429 4447593 4360845

Current Interest Rate on First Mortgage

Less than 6.0 percent
6297 216 415 680 4986
6.0 percent 68 25 4 0 39
6.1 to 6.4 percent 255 65 18 3 169
6.5 to 6.9 percent 599 87 71 6 434
7.0 percent 1175 42 46 94 993
7.1 to 7.4 percent 672 114 95 10 453
7.5 to 7.9 percent 1068 157 76 11 824
8.0 percent 183 34 8 0 141
8.1 to 8.4 percent 591 98 19 13 462
8.5 to 8.9 percent 393 62 33 0 299
9.0 percent 179 14 73 0 92
9.1 to 9.4 percent 161 59 0 0 102
9.5 to 9.9 percent 129 60 12 0 58
10.0 percent 50 17 10 0 23
10.1 to 10.4 percent 68 46 0 0 23
10.5 to 10.9 percent 92 56 0 0 37
11.0 percent 145 3 15 25 102
11.1 to 12.9 percent 154 129 10 0 16
13.0 percent 44 4 11 17 13
13.1 percent or more 2487 99 197 218 1973
Not reported 0 0 0 0 0
Median 7.0 8.0 7.1 4.8 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
2 2 0 0 0
Constant payment 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 2 2 0 0 0
Not reported 0 0 0 0 0
Properties without interest
rate buydown
4181 268 470 60 3383
Not reported 10629 1116 644 1016 7853

Term of First Mortgage

Less than 5 years
98 3 4 0 91
5 years 69 0 3 0 67
6 to 9 years 135 0 7 0 128
10 years 1245 11 131 17 1086
11 to 14 years 84 0 0 0 84
15 years 341 8 20 9 304
16 to 19 years 85 0 3 0 82
20 years 208 0 21 6 181
21 to 24 years 12 0 1 0 11
25 years 167 3 10 23 131
26 to 29 years 21 4 0 0 17
30 years 2542 1275 92 9 1165
More than 30 years 536 80 185 0 270
No stated term 9267 0 636 1012 7619
Median 30 31 30 25 18

Unexpired Term of First Mortgage

Less than 5 years
565 75 40 4 446
5 to 9 years 1363 116 101 10 1136
10 to 14 years 579 80 40 12 448
15 to 19 years 536 87 42 29 379
20 to 24 years 555 196 41 0 318
25 to 29 years 1492 725 119 7 641
30 or more years 453 107 95 2 249
No stated term or not computed 9267 0 636 1012 7619
Median 17 26 22 16 13

Holder of First Mortgage

Commercial bank or trust company
2795 350 104 257 2085
Savings and loan association, federal
savings bank
1831 127 107 131 1465
Mutual savings bank 303 31 5 35 233
Life insurance company 752 57 49 12 634
Mortgage banker or mortgage company 264 24 11 7 223
Federally-sponsored secondary market
agency or pool
5641 492 421 432 4296
Conventional mortgage pool 125 13 9 0 103
Other federal agency 809 82 214 71 441
Real estate investment trust 98 11 0 12 75
Pension or retirement fund 126 12 0 0 114
Credit union 270 46 19 28 177
Finance company 225 21 10 22 172
State or municipal government or
housing finance agency
885 64 112 34 674
Individual or individual's estate 291 8 17 16 250
Other 397 47 35 19 295

Servicer of First Mortgage

Commercial bank or trust company
2859 334 132 257 2136
Savings and loan association, federal
savings bank
1891 129 116 131 1515
Mutual savings bank 300 28 5 35 233
Life insurance company 501 53 26 12 410
Mortgage banker or mortgage company 6345 616 442 451 4835
Federally-sponsored secondary market
agency or pool
15 2 9 0 4
Conventional mortgage pool 137 3 7 0 127
Other federal agency 738 42 214 71 411
Real estate investment trust 30 0 0 0 30
Pension or retirement fund 9 2 0 0 7
Credit union 270 46 19 28 177
Finance company 254 22 10 22 200
State or municipal government or
housing finance agency
836 71 86 34 645
Individual or individual's estate 241 8 12 16 205
Other 384 29 35 19 301

Holder's Acquisition of First Mortgage

Originated directly from borrower
7884 695 521 565 6103
Purchased from present servicer 3968 311 440 317 2900
Purchased from someone else 2960 379 153 195 2233
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
9641 1027 795 657 7161
Less than 40 percent 731 80 103 64 483
40 to 49 percent 468 45 55 32 337
50 to 59 percent 708 99 96 56 457
60 to 69 percent 1298 134 88 127 950
70 to 79 percent 1582 164 88 86 1244
80 to 89 percent 1259 121 92 63 983
90 to 94 percent 531 72 36 33 390
95 to 99 percent 399 65 31 25 278
100 percent or more 2451 243 203 160 1845
Not reported 214 6 2 11 195
Median 80 79 76 75 80
Other properties 5171 358 319 419 4075
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
9641 1027 795 657 7161
Less than 40 percent 569 59 62 31 417
40 to 49 percent 395 20 38 10 327
50 to 59 percent 472 62 61 28 321
60 to 69 percent 2818 344 307 231 1937
70 to 79 percent 1674 180 105 102 1287
80 to 89 percent 1149 86 62 56 945
90 to 94 percent 332 29 32 33 237
95 to 99 percent 264 23 41 19 181
100 percent or more 1772 219 84 137 1333
Not reported 196 6 2 11 177
Median 73 71 68 72 74
Other properties 5171 358 319 419 4075
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
920 63 27 99 731
Not subprime loan 13891 1322 1087 977 10505
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
9641 1027 795 657 7161
Less than 40 percent 518 67 40 25 386
40 to 49 percent 403 29 73 8 292
50 to 59 percent 588 100 92 28 367
60 to 69 percent 1278 135 99 145 900
70 to 79 percent 1509 133 85 112 1180
80 to 89 percent 1281 139 92 67 984
90 to 94 percent 534 65 41 26 402
95 to 99 percent 457 87 25 30 316
100 percent or more 2858 267 246 206 2140
Not reported 214 6 2 11 195
Median 83 83 81 81 84
Other properties 5171 358 319 419 4075
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
9641 1027 795 657 7161
Less than 40 percent 1357 183 91 104 980
40 to 49 percent 942 58 54 73 757
50 to 59 percent 1537 203 167 55 1112
60 to 69 percent 1626 155 114 108 1249
70 to 79 percent 1592 125 148 84 1235
80 to 89 percent 911 154 51 69 637
90 to 94 percent 282 20 40 22 200
95 to 99 percent 282 34 19 20 208
100 percent or more 916 90 108 111 607
Not reported 196 6 2 11 177
Median 65 64 67 69 65
Other properties 5171 358 319 419 4075
Not available 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
1232 158 89 88 898
20 to 29 percent 788 83 62 62 581
30 to 39 percent 1511 104 46 131 1230
40 to 49 percent 2071 222 206 112 1531
50 to 59 percent 2477 185 197 161 1933
60 to 69 percent 2209 197 174 161 1678
70 to 79 percent 1837 169 132 124 1412
80 to 89 percent 964 120 45 89 710
90 to 99 percent 671 71 79 54 466
100 percent or more 752 68 81 67 536
Not reported or not computed 300 9 4 27 261
Median 57 57 58 58 56

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
3201 158 150 201 2692
Treasury security 481 8 3 26 444
Average cost of funds in bank district 618 0 43 0 576
National average cost of funds 21 0 0 0 21
OTS contract mortgage rate 0 0 0 0 0
Other method 425 0 10 9 406
No index used 38 0 17 0 21
Not reported 1617 149 78 167 1224
Other properties 11611 1228 964 875 8544
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
3201 158 150 201 2692
Monthly 705 10 45 0 650
Every 3 months 80 0 6 0 74
Every 6 months 310 0 4 0 305
Yearly 209 1 1 23 183
Every 3 years 8 0 0 0 8
Every 5 years 200 0 0 0 200
Other 60 0 8 12 40
Not reported 1629 147 84 167 1232
Other properties 11611 1228 964 875 8544
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
3201 158 150 201 2692
Less than 1 percent 97 0 5 0 92
1 percent 0 0 0 0 0
1.1 to 1.9 percent 68 0 4 0 64
2 percent 117 0 6 23 88
2.1 to 2.9 percent 79 0 0 0 79
3 percent 59 1 0 0 57
3.1 to 3.9 percent 85 0 0 0 85
4.0 percent or more 127 0 0 9 117
No caps 876 10 50 3 814
Not reported 1693 147 84 167 1296
Other properties 11611 1228 964 875 8544
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
3201 158 150 201 2692
Less than 1 percent 39 0 0 0 39
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 1 0 0 0 1
2.1 to 2.9 percent 14 0 9 0 5
3 percent 27 0 0 0 27
3.1 to 3.9 percent 17 0 0 0 17
4.0 percent or more 839 1 27 9 801
No caps 510 10 22 26 453
Not reported 1754 147 91 167 1349
Other properties 11611 1228 964 875 8544
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
3201 158 150 201 2692
Yes, rate has changed 1149 11 54 23 1062
No change since mortgage made 395 0 13 9 373
Not reported 1657 147 83 170 1257
Other properties 11611 1228 964 875 8544
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
149 0 43 0 106
Payments can change monthly 12 0 10 0 2
Payments can change every three months 0 0 0 0 0
Payments can change every six months 12 0 0 0 12
Payments can change yearly 106 0 33 0 74
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 14 0 0 0 14
Other 4 0 0 0 4
Not reported 1 0 0 0 1
Monthly payments cannot
change
12922 1232 988 910 9792
Not reported 1741 154 83 167 1337

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
149 0 43 0 106
Yes, unrestricted negative amortization 17 0 9 0 9
Yes, restricted negative amortization 88 0 29 0 60
No negative amortization allowed 43 0 5 0 38
Not reported 0 0 0 0 0
Monthly payments cannot change 12922 1232 988 910 9792
Not reported 1741 154 83 167 1337

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
14148 1317 1089 1019 10724
Interest and principal 14005 1317 1062 1019 10608
Fully amortized 11105 1190 793 885 8236
Not fully amortized 2901 126 269 134 2371
Interest only 143 0 27 0 116
No regular payments required 207 4 23 0 180
Not reported 457 65 2 57 332

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
14005 1317 1062 1019 10608
Real estate taxes 2580 331 233 40 1975
Property insurance 1984 334 192 31 1427
Mortgage insurance 525 304 14 2 205
Other 1146 235 145 13 753
No items included or not reported 11346 977 800 979 8590
No regular payments of interest
and principal
807 69 52 57 629

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
14605 1381 1091 1076 11056
Less than $100 1910 181 228 97 1404
$100 to $199 4051 336 201 326 3187
$200 to $299 3945 433 307 289 2915
$300 to $399 2251 193 155 129 1774
$400 to $499 964 87 101 70 707
$500 to $599 460 33 43 41 342
$600 to $699 207 24 5 34 144
$700 to $799 102 8 35 13 46
$800 to $899 58 3 4 10 41
$900 to $999 25 0 0 0 25
$1,000 to $1,249 47 7 4 2 33
$1,250 to $1,499 40 0 2 0 38
$1,500 or more 90 13 2 7 68
Not reported 457 65 2 57 332
Median 228 233 237 230 226
Mean 280 282 261 284 282
No regular payments required 207 4 23 0 180

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
14605 1381 1091 1076 11056
Up-to-date, ahead of schedule, or
less than 90 days past due
4364 349 464 66 3485
Delinquent by 90 days or more 25 3 0 0 21
Legal proceedings have begun 2 2 0 0 0
Legal proceedings have not begun 17 1 0 0 15
Not reported 6 0 0 0 6
Not reported 10216 1029 627 1011 7550
Other properties 207 4 23 0 180

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
14605 1381 1091 1076 11056
Less than $100 2229 215 211 130 1673
$100 to $199 3888 325 203 323 3038
$200 to $299 3940 426 304 292 2918
$300 to $399 2406 220 150 152 1884
$400 to $499 1027 105 111 65 746
$500 to $599 482 33 49 40 360
$600 to $699 238 26 9 39 164
$700 to $799 110 10 39 14 47
$800 to $899 68 3 4 10 51
$900 to $999 26 0 1 0 25
$1,000 to $1,249 50 7 4 4 35
$1,250 to $1,499 37 0 2 0 35
$1,500 or more 103 13 2 7 80
Not reported 0 0 0 0 0
Median 230 235 243 229 228
Mean 280 278 273 284 281
No regular payments required 207 4 23 0 180

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

Acquired before 2000 and
regular payments of interest
and/or princi
12093 1127 971 910 9084
Less than 20 percent 1540 118 186 107 1128
20 to 29 percent 1967 235 102 162 1468
30 to 39 percent 3050 277 251 245 2277
40 to 49 percent 2758 229 208 160 2160
50 to 59 percent 1475 165 141 123 1047
60 to 69 percent 464 36 29 63 336
70 to 79 percent 214 33 7 15 159
80 to 89 percent 42 2 0 4 36
90 to 99 percent 43 2 0 2 38
100 percent or more 515 29 46 28 411
Not reported or not computed 24 0 0 2 22
Median 38 38 38 38 38
Other properties 2719 258 143 166 2152

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

Acquired before 2000 and regular
payments of interest and/or
principal
12156 1127 974 933 9122
Less than 20 percent 1426 94 171 89 1072
20 to 29 percent 1903 232 102 151 1418
30 to 39 percent 2963 265 236 269 2192
40 to 49 percent 2773 228 226 152 2166
50 to 59 percent 1669 194 138 156 1181
60 to 69 percent 543 45 35 63 399
70 to 79 percent 194 34 7 15 137
80 to 89 percent 81 2 8 5 66
90 to 99 percent 48 2 0 2 43
100 percent or more 533 29 51 28 425
Not reported or not computed 24 0 0 2 22
Median 39 39 39 38 39
Other properties 2656 258 140 143 2115

Real Estate Tax Per Housing Unit

Acquired before 2000
12666 1195 996 967 9508
Less than $100 1554 164 105 154 1131
$100 to $199 933 121 108 51 652
$200 to $299 1851 145 124 190 1392
$300 to $399 2096 211 123 120 1642
$400 to $499 1750 127 162 148 1313
$500 to $599 1350 106 113 114 1016
$600 to $699 972 74 78 43 777
$700 to $799 701 71 60 48 523
$800 to $899 401 46 11 35 308
$900 to $999 285 22 54 21 188
$1,000 to $1,249 323 32 32 23 236
$1,250 to $1,499 164 56 19 11 78
$1,500 to $1,999 142 8 5 7 122
$2,000 to $2,499 58 1 2 0 55
$2,500 or more 35 3 0 0 32
Not reported 52 7 0 2 43
Median 394 378 423 373 395
Mean 456 463 460 406 459
Acquired 2000 and 2001 (part) 2145 191 118 109 1728

Real Estate Tax Per $1,000 Value

Acquired before 2000
12666 1195 996 967 9508
Less than $5 2674 291 156 227 2000
$5 to $9 4890 451 392 386 3661
$10 to $14 3496 321 303 266 2607
$15 to $19 887 79 74 67 666
$20 to $24 194 22 12 4 157
$25 to $29 83 2 8 4 69
$30 to $39 390 22 52 12 304
$40 to $49 0 0 0 0 0
$50 to $59 0 0 0 0 0
$60 or more 1 0 0 0 1
Not reported or not computed 52 7 0 2 43
Median 9 8 9 8 9
Acquired 2000 and 2001 (part) 2145 191 118 109 1728

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
12666 1195 996 967 9508
Less than 5 percent 4156 432 280 352 3092
5 to 9 percent 6927 655 573 549 5149
10 to 14 percent 931 51 108 38 733
15 to 19 percent 120 24 4 0 92
20 to 24 percent 198 11 5 18 164
25 to 29 percent 53 7 12 2 32
30 to 34 percent 18 0 0 0 18
35 to 39 percent 8 0 3 0 5
40 percent or more 179 7 11 5 156
Not reported or not computed 78 7 0 4 67
Median 7 6 7 6 7
Acquired 2000 and 2001 (part) 2145 191 118 109 1728

Property Management

Property managed by paid property
management company
13385 1267 1011 980 10127
Property not managed by paid property
management company
1052 92 87 89 784
Not reported 375 26 16 8 325

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
12666 1195 996 967 9508
Less than $100 152 3 7 20 122
$100 to $199 805 85 46 66 608
$200 to $299 1629 147 101 112 1269
$300 to $399 1732 181 112 158 1280
$400 to $499 1109 148 117 57 787
$500 to $599 858 89 37 70 662
$600 to $699 696 50 25 42 578
$700 to $799 531 26 27 34 443
$800 to $899 571 23 52 26 470
$900 to $999 436 40 62 25 309
$1,000 to $1,249 1019 131 94 44 751
$1,250 to $1,499 663 55 126 50 431
$1,500 to $1,999 502 38 66 52 345
$2,000 to $2,499 209 13 25 52 120
$2,500 or more 216 20 5 28 163
No expenses 659 25 48 61 524
Not reported or not computed 880 121 46 69 644
Median 516 473 719 508 516
Acquired 2000 and 2001 (part) 2145 191 118 109 1728

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
12666 1195 996 967 9508
Less than $100 306 32 8 12 254
$100 to $199 838 64 56 59 658
$200 to $299 966 83 69 41 772
$300 to $399 1108 73 115 65 855
$400 to $499 979 123 84 54 718
$500 to $599 962 65 77 81 738
$600 to $699 950 111 71 48 720
$700 to $799 803 70 73 69 590
$800 to $899 768 63 79 58 568
$900 to $999 536 35 34 30 436
$1,000 to $1,249 1102 98 85 100 819
$1,250 to $1,499 816 76 55 100 586
$1,500 to $1,999 715 75 51 93 496
$2,000 to $2,499 340 71 34 23 212
$2,500 or more 354 34 39 15 266
No expenses 57 0 6 2 49
Not reported or not computed 1068 120 59 116 772
Median 665 687 679 792 648
Acquired 2000 and 2001 (part) 2145 191 118 109 1728

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
12666 1195 996 967 9508
Less than $250 689 75 29 57 527
$250 to $499 3560 363 296 203 2697
$500 to $749 4028 369 328 342 2990
$750 to $999 2000 120 200 150 1529
$1,000 to $1,249 624 82 38 70 433
$1,250 to $1,499 260 47 5 17 192
$1,500 to $1,749 134 18 16 18 82
$1,750 to $1,999 50 5 2 5 38
$2,000 to $2,499 28 1 4 0 22
$2,500 or more 37 0 4 0 34
No expenses 167 5 9 9 145
Not reported or not computed 1091 111 64 96 819
Median 590 569 604 625 588
Acquired 2000 and 2001 (part) 2145 191 118 109 1728

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