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(03 <br />City of Cuyahoga Falls, Ohio 42 <br />B8 o B8 Analysis of Impediments to Fair Housing Choice <br />Corporation (2.9 %) <br />Sub prime lenders have a tenancy to come and go in the market, the number one lender <br />one year will not necessarily be the number one lender the next year or might not be in the <br />market at all. This is due to marketing, fluctuations in the lending market, interest rate <br />changes and corporate. <br />One area that changes often take place is in comparing lenders market share by all <br />applications and to a specific mortgage purpose such as conventional home purchase. The <br />focus of this report is on Conventional Home Purchase applications, originations and <br />denials. As noted above, the Federal Financial Institutions Examination Council's HMDA <br />data is compiled only for the census tracts contained within the City of Cuyahoga Falls <br />using Peertrax HMDA Analyzer. Data in all of the tables related to lending throughout this <br />analysis are compiled from this data unless otherwise noted. <br />Our concern with conventional home purchase is that this type of mortgage product puts <br />people in housing. It is a sign of the ongoing health of a community or neighborhood. We <br />want to consider not only the number of applications for conventional home purchase as <br />compared to say, refinancing (as discussed previously) but also in terms of originations and <br />denials. <br />Table 30 shows the thirty six largest lenders in terms of conventional home purchase <br />applications. Sub primes lenders are highlighted. Many of the largest lenders for all <br />applications were also in the largest lenders for conventional home purchase. Countrywide <br />Home Loans was the largest lender with 8.1 % of conventional home purchase applications. <br />National City Bank was second with 4.9% of the applications. <br />The discussion on the topics below are all for conventional home purchase unless <br />otherwise noted. <br />7.6 Lending to Low and Moderate - Income Households <br />Low and moderate - income households make up a portion of Cuyahoga Falls households. <br />For those households, access to credit for home loans is essential, as home ownership is <br />the primary way of increasing personal net worth and assets for man Americans, Median <br />household income in the City was $42,263 in 2000. <br />Nationally, growth in lending to low and moderate - income borrowers outpaced lending to <br />middle and upper- income borrowers, especially between 1993 and 1998. Home purchase <br />mortgages to low- income borrowers increased 75% during this period, but only 52% for <br />Upper-income borrowers. <br />Table 31 shows action taken on applications by applicant income (highlighted). Thirty -two <br />