Industry NewsMortgage

Homethinking cracks Fed’s loan database

Site shows top lenders, lending practices by market

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Would-be home buyers now have easy access to a database of millions of mortgage applications through, helping them see lenders who have the biggest presence in their market and details about the loans they've made. Providing a user-friendly way to access the Federal Reserve's Home Mortgage Disclosure Act (HMDA) database could help home buyers and real estate professionals choose a lender, and determine how past lending practices may affect particular markets as the credit crunch continues, said Homethinking LLC founder Niki Scevak. Scevak founded in 2005 to help home buyers choose a Realtor based on actual transaction data. The company is expanding the concept to lenders with today's rollout of Clicking on a state or county shows the percentage of subprime loans, average loan size, loan-to-income ratio, and other statistics that can help home buyers determine how past lending practices may affect future market pe...