Finance and Economics Discussion Series: Accessible versions of figures for 2018-016

Liquidity Crises in the Mortgage Market

Accessible version of figures


Figure 1: Percentage of All U.S. Mortgages Originated by Nonbanks, 2001-16

Source: Authors' tabulations from Home Mortgage Disclosure Act (HMDA) data.

Notes: The figure shows the share of all U.S. mortgages originated by nonbanks from 2001 to 2016. Share of mortgages sold to GSEs and GNMA refer to loans originated in the first 9 months of the year.

Year Nonbank Fraction of: All Mortgages Nonbank Fraction of: Sold to GSEs Nonbank Fraction of: Sold to GNMA
2001 27.9% 25.5% 32.0%
2002 24.2% 13.1% 20.9%
2003 26.7% 15.0% 16.8%
2004 31.6% 14.6% 16.9%
2005 31.8% 10.0% 12.9%
2006 30.7% 9.3% 13.7%
2007 18.9% 10.7% 19.1%
2008 19.6% 7.8% 13.8%
2009 23.3% 8.5% 14.0%
2010 24.3% 9.8% 17.0%
2011 25.6% 10.5% 25.6%
2012 30.3% 21.4% 40.1%
2013 33.1% 30.7% 43.5%
2014 40.9% 45.0% 60.9%
2015 44.4% 45.2% 70.4%
2016 48.3% 49.4% 75.1%

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Figure 2: Outstanding Balance of Mortgage-Backed Securities Guaranteed by Ginnie Mae, 2012-17

(in billions of dollars)

Source: Authors' calculations from data provided by Ginnie Mae.

Quarter-Year Bank Nonbank
2012-03-01 975.88 139.24
2012-06-01 1001.62 156.21
2012-09-01 1012.25 175.56
2012-12-01 1000.97 215.13
2013-03-01 994.30 245.30
2013-06-01 971.36 295.59
2013-12-01 941.92 381.73
2014-03-01 941.52 393.79
2014-06-01 930.57 414.86
2014-09-01 920.31 457.14
2014-12-01 907.89 483.29
2015-03-01 889.93 495.52
2015-06-01 816.56 592.52
2015-09-01 812.70 644.39
2015-12-01 799.28 688.37
2016-03-01 790.56 719.72
2016-06-01 778.05 760.00
2016-09-01 765.72 807.23
2016-12-01 742.99 868.14
2017-03-01 737.45 906.22
2017-12-01 709.27 1033.95

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Figure 3

The figure shows the credit loss position of Ginnie Mae and the GSEs when a mortgage defaults in a guaranteed pool. For Ginnie Mae, homeowner equity takes the first loss position, then FHA/VA insurance, then the capital of issuer/servicer, and finally Ginnie Mae. For the GSEs, homeowner equity takes the first loss, then private mortgage insurance and then the GSEs. Adapted from Success Stories Ginnie Mae Summit, 2016.

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Figure 4: The Total Size and Usage of Warehouse Lines of Credit at Banks Subject to the Federal Reserve's CCAR, 2013-16

(in billions of dollars)

Source: Authors' calculations from Y-14 data.

Quarter-Year Dollars Committed Dollars Utilized
31-Mar-13 19.43 12.04
30-Jun-13 20.50 12.58
30-Sep-13 19.52 9.04
31-Dec-13 17.11 8.76
31-Mar-14 15.19 7.91
30-Jun-14 17.54 12.19
30-Sep-14 16.88 11.00
31-Dec-14 19.56 14.15
31-Mar-15 22.81 16.96
30-Jun-15 28.34 21.53
30-Sep-15 27.22 19.37
31-Dec-15 31.70 23.41
31-Mar-16 29.08 21.30
30-Jun-16 36.08 29.88
30-Sep-16 39.03 31.41
31-Dec-16 34.45 23.45

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Figure 5

Schematic for the collateralized warehouse lending process for mortgage origination. Subfigure (a) presents the setup phase of warehouse funding for non-bank mortgage origination (warehouse setup), where: (1) a mortgage borrower obtains a mortgage funded by a non-bank originator (technically the repo seller); (2) the mortgage originator funds the loan through a collateralized line of credit; (3) the warehouse lender (technically the repo buyer) holds the mortgage note as collateral against the draw on the line of credit (the draw amount is valued at the loan balance minus a haircut). Subfigure~(b) shows the warehouse unwind where: (4) the non-bank mortgage originator must sell the mortgage note to a securitizer-investor --- in the case of the GSEs this would be a loan sale (either cash or swap for the bonds of the SPE) to a Fannie or Freddie Special Purpose Entity (SPE), and in the case of Ginnie Mae the loan sale would be part of a sale of Ginnie Mae pool of mortgages to investors. The proceeds from the loan sales flow directly to the warehouse lender, who releases the collateral, the mortgage/trust deed and promissory note, to the securitizer-investor. The warehouse lender then pays down the dollar value of the draw to the non-bank originator's line of credit.

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Figure 6: Mortgage Warehouse Lending by Off-Balance-Sheet Structured Investment Vehicles, 2000-10

(in billions of dollars)

Source: Authors' calculations from quarterly structured investment vehicle statements provided by Moody's Investors Service.

Notes: The spreadsheet shows the outstanding committed mortgage warehouse balance of off-balance-sheet U.S. structured investment vehicles funded by extendable asset-backed commercial paper and collateralized by mortgage loans held in warehouses before securitization.

Date Outstanding dollars
1999-12-31 0.09
2000-03-31 0.03
2000-06-30 0.30
2000-09-30 1.32
2000-12-31 1.14
2001-03-31 1.78
2001-06-30 2.49
2001-09-30 2.48
2001-12-31 2.15
2002-03-31 1.92
2002-06-30 2.89
2002-09-30 4.19
2002-12-31 4.70
2003-03-31 6.51
2003-06-30 13.61
2003-09-30 27.96
2003-12-31 25.47
2004-03-31 22.10
2004-06-30 30.15
2004-09-30 27.49
2004-12-31 28.07
2005-03-31 28.05
2005-06-30 36.91
2005-09-30 44.85
2005-12-31 46.75
2006-03-31 43.04
2006-06-30 41.30
2006-09-30 37.67
2006-12-31 44.60
2007-03-31 36.97
2007-06-30 35.12
2007-09-30 16.57
2007-12-31 1.54
2008-03-31 1.45
2008-06-30 1.27
2008-09-30 1.68
2008-12-31 1.68
2009-03-31 1.68
2009-06-30 1.68
2009-09-30 1.68
2009-12-31 1.68
2010-03-31 1.68
2010-06-30 1.68
2010-09-30 1.68

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Figure 7: Nonbank Mortgage Originations, 2001-16

(in billions of dollars)

Source: Authors' calculations from HMDA data.

Year Nonbank_volume
2001 516
2002 585
2003 926
2004 804
2005 918
2006 832
2007 402
2008 284
2009 441
2010 424
2011 400
2012 696
2013 662
2014 593
2015 792
2016 1010

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Figure 8: Selected Assets of Ocwen Financial Corporation Relative to Total Assets

Source: Authors' calculations from Ocwen's 10-K filings with the U.S. Securities and Exchange Commission, available at https://www.sec.gov/edgar/searchedgar/companysearch.html

Ocwen Loan Servicing 2004 2005 2006 2007 2008 2009 2010 2011 2012
Total Assets $1,584,143 $1,854,173 $2,009,743 $2,394,696 $2,237,100 $1,769,350 $2,921,409 $4,737,157 $5,671,882
Cash $542,891 $271,296 $311,567 $149,119 $201,025 $90,919 $127,796 $144,234 $220,130
Mortgage Servicing Rights $131,409 $148,663 $183,743 $197,295 $139,500 $117,802 $193,985 $293,152 $676,712
Advances $240,430 $219,716 $324,137 $292,887 $102,085 $145,914 $184,833 $103,591 $184,463
Match-funded advances $280,760 $377,105 $572,708 $1,126,097 $1,100,555 $822,615 $1,924,052 $3,629,911 $3,049,244
Advances as share of total assets 33% 32% 45% 59% 54% 55% 72% 79% 57%
Cash as a share of total assets 34% 15% 16% 6% 9% 5% 4% 3% 4%

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Figure 9: Outstanding Volume of Mortgage-Backed Securities, 2000-17

(in billions of dollars)

Source: Authors' tabulations from Securities Industry and Financial Markets Association,

U.S. Mortgage-Related Issuance and Oustanding, available at https://www.sifma.org/resources/research/us-mortgage-related-issuance-and-outstanding/

Values shown are year-end and are from Table 3.2 column I for Ginnie Mae and Table 2.2 column D for PLS.

Year Ginnie Mae Private-Label
2000 592.63 744.13
2001 569.46 819.44
2002 512.10 911.54
2003 444.82 1014.31
2004 409.09 1480.41
2005 371.48 2015.39
2006 373.89 2600.29
2007 405.82 2714.19
2008 597.21 2357.23
2009 836.76 1922.89
2010 1037.54 1676.68
2011 1186.43 1437.46
2012 1295.32 1239.29
2013 1398.45 1075.98
2014 1452.09 994.29
2015 1548.77 924.67
2016 1667.50 846.31
2017 1804.76 782.56

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Figure 10: Conditional Prepayment Rates for Ginnie Mae Securities Issued by Banks and Nonbanks

Source: Recursion Co., http://www.recursionco.com/

Data provided by Li Chang

Date Banks Mortgage Companies
Nov-13 10.4 10.7
Dec-13 10.2 11.3
Jan-14 8.9 10.1
Feb-14 8.5 10.3
Mar-14 10.1 11.3
Apr-14 10.6 12.5
May-14 11.7 13.3
Jun-14 12.1 14.5
Jul-14 12.7 14.9
Aug-14 12.0 14.0
Sep-14 11.9 13.1
Oct-14 11.5 14.6
Nov-14 12.3 12.9
Dec-14 12.2 13.8
Jan-15 9.9 11.7
Feb-15 12.5 15.9
Mar-15 14.9 18.8
Apr-15 14.5 19.0
May-15 15.1 18.2
Jun-15 15.5 18.8
Jul-15 14.6 16.7
Aug-15 13.9 15.5
Sep-15 12.6 16.5
Oct-15 12.3 14.1
Nov-15 10.7 12.5
Dec-15 11.7 13.9
Jan-16 10.1 12.5
Feb-16 10.9 13.7
Mar-16 13.3 17.5
Apr-16 13.0 16.3
May-16 14.2 16.3
Jun-16 15.9 17.6
Jul-16 14.1 17.1
Aug-16 16.4 17.4
Sep-16 15.1 18.2
Oct-16 15.3 16.8
Nov-16 15.8 16.1
Dec-16 14.4 16.2
Jan-17 11.4 12.3
Feb-17 10.2 12.6
Mar-17 11.5 15.1
Apr-17 10.9 13.5
May-17 12.5 14.5
Jun-17 12.8 14.8
Jul-17 11.9 13.3
Aug-17 12.7 14.6
Sep-17 11.0 12.9
Oct-17 11.1 13.7

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Figure 11: Conditional Prepayment Rates for Five Selected Nonbank Mortgage Counterparties to Ginnie Mae

Source: Recursion Co., http://www.recursionco.com/

Data provided by Li Chang

Date FREEDOM MORTGAGE CORPORATION FIRST GUARANTY MORTGAGE CORPORATION CARRINGTON MORTGAGE SERVICES, LLC NATIONSTAR MORTGAGE LLC PLANET HOME LENDING LLC
Nov-13 15.3 9.1 16.8 14 14.7
Dec-13 11.4 11.2 16 16 14.2
Jan-14 9.9 5.5 19.2 13.8 12.3
Feb-14 10.1 12.6 14.5 14.2 12.2
Mar-14 13.8 9.9 15.9 18.3 13.2
Apr-14 12.7 9.6 16.2 31.7 18
May-14 13.8 10.2 22.2 17.9 15.3
Jun-14 14.7 16.3 20.8 26.8 14.2
Jul-14 17.2 22.6 21.6 22 18
Aug-14 14.9 10.8 18.7 19.7 21
Sep-14 13.1 16.4 19.1 19.1 17.7
Oct-14 20.3 13.2 20.3 18.4 15.6
Nov-14 14.1 7.2 14.9 17.6 13.7
Dec-14 16.4 11 17.3 18.1 16.4
Jan-15 12.5 14.8 17.7 14.4 15
Feb-15 20.1 12 16.7 17.9 21.2
Mar-15 33.1 13.1 19.9 24.2 23.4
Apr-15 24.2 15.9 18.8 23.8 26.9
May-15 18.1 10.8 20.8 23 23.7
Jun-15 17.9 16 23.6 25.7 26.4
Jul-15 19.3 13.9 25 24.6 27.8
Aug-15 14.7 12.3 23.4 24.3 24.8
Sep-15 14.6 18.3 23.7 23.9 24.9
Oct-15 15.2 13.2 22 23 21.9
Nov-15 15.3 14.3 19.3 20 18.5
Dec-15 18.3 16.9 23.1 22.4 20.9
Jan-16 23.6 12.3 21.6 18.5 17.5
Feb-16 24.6 17.7 21.3 21.5 20.8
Mar-16 26.6 22.5 21.8 24.7 24.6
Apr-16 29.2 13.5 22.1 24.2 22.3
May-16 26.6 12.1 23.5 25.5 28.9
Jun-16 22.7 13.6 25 25.6 29.9
Jul-16 26.4 16.7 22.4 23.2 23
Aug-16 33.8 17 24.5 26.3 25.4
Sep-16 27.3 13.6 24.3 24.4 28
Oct-16 30.8 13 23 23.5 26.6
Nov-16 32 12.2 23.6 23.6 30.1
Dec-16 27.1 15.5 25.1 22.4 23.8
Jan-17 23.6 9.3 23.9 17.4 22.1
Feb-17 24.7 19.6 22 18.7 17.8
Mar-17 23.6 41.3 25 18.2 18.6
Apr-17 20.6 33.7 20.2 16.8 16.1
May-17 18.6 29.7 22.2 19.8 17.8
Jun-17 18.4 24.3 21.8 19.9 19.9
Jul-17 16.1 24.9 19.3 18.8 16.6
Aug-17 17.6 20.3 22.9 19.9 17.3
Sep-17 17.8 19.2 21.4 17.2 13.8
Oct-17 27.7 21.9 21.3 18.7 17.3

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Figure 12: FHA or VA loans originated by nonbanks as a proportion of all loans by county, 2016

Source: Authors' calculations from HMDA data.

County Name Nonbank FHA/VA Share
Autauga, AL 0.30
Baldwin, AL 0.19
Bibb, AL 0.15
Blount, AL 0.17
Calhoun, AL 0.28
Chilton, AL 0.20
Colbert, AL 0.13
Elmore, AL 0.27
Etowah, AL 0.19
Geneva, AL 0.21
Hale, AL 0.13
Henry, AL 0.16
Houston, AL 0.25
Jefferson, AL 0.19
Lauderdale, AL 0.14
Lawrence, AL 0.20
Lee, AL 0.20
Limestone, AL 0.22
Lowndes, AL 0.10
Madison, AL 0.20
Mobile, AL 0.28
Montgomery, AL 0.31
Morgan, AL 0.24
Pickens, AL 0.15
Russell, AL 0.44
St. Clair, AL 0.23
Shelby, AL 0.20
Tuscaloosa, AL 0.17
Walker, AL 0.19
Anchorage Municipality, AK 0.16
Fairbanks North Star Borough, AK 0.21
Matanuska-Susitna Borough, AK 0.21
Cochise, AZ 0.45
Coconino, AZ 0.16
Maricopa, AZ 0.28
Mohave, AZ 0.26
Pima, AZ 0.33
Pinal, AZ 0.41
Yavapai, AZ 0.26
Yuma, AZ 0.38
Benton, AR 0.11
Cleveland, AR 0.15
Craighead, AR 0.09
Crawford, AR 0.11
Crittenden, AR 0.20
Faulkner, AR 0.12
Garland, AR 0.16
Grant, AR 0.18
Jefferson, AR 0.28
Lincoln, AR 0.17
Little River, AR 0.11
Lonoke, AR 0.19
Madison, AR 0.12
Miller, AR 0.17
Perry, AR 0.11
Poinsett, AR 0.11
Pulaski, AR 0.14
Saline, AR 0.16
Sebastian, AR 0.12
Washington, AR 0.08
Alameda, CA 0.06
Butte, CA 0.18
Contra Costa, CA 0.14
El Dorado, CA 0.17
Fresno, CA 0.28
Imperial, CA 0.33
Kern, CA 0.35
Kings, CA 0.46
Los Angeles, CA 0.13
Madera, CA 0.32
Marin, CA 0.03
Merced, CA 0.31
Monterey, CA 0.17
Napa, CA 0.11
Orange, CA 0.09
Placer, CA 0.20
Riverside, CA 0.31
Sacramento, CA 0.24
San Benito, CA 0.26
San Bernardino, CA 0.28
San Diego, CA 0.20
San Francisco, CA 0.01
San Joaquin, CA 0.25
San Luis Obispo, CA 0.14
San Mateo, CA 0.02
Santa Barbara, CA 0.16
Santa Clara, CA 0.03
Santa Cruz, CA 0.07
Shasta, CA 0.27
Solano, CA 0.26
Sonoma, CA 0.10
Stanislaus, CA 0.28
Sutter, CA 0.26
Tulare, CA 0.37
Ventura, CA 0.15
Yolo, CA 0.16
Yuba, CA 0.40
Adams, CO 0.29
Arapahoe, CO 0.24
Boulder, CO 0.07
Broomfield, CO 0.11
Clear Creek, CO 0.22
Denver, CO 0.14
Douglas, CO 0.17
Elbert, CO 0.26
El Paso, CO 0.37
Gilpin, CO 0.23
Jefferson, CO 0.16
Larimer, CO 0.14
Mesa, CO 0.34
Park, CO 0.23
Pueblo, CO 0.36
Teller, CO 0.27
Weld, CO 0.26
Fairfield, CT 0.10
Hartford, CT 0.19
Middlesex, CT 0.17
New Haven, CT 0.19
New London, CT 0.16
Tolland, CT 0.18
Windham, CT 0.24
Kent, DE 0.39
New Castle, DE 0.26
Sussex, DE 0.13
District of Columbia, DC 0.08
Alachua, FL 0.19
Baker, FL 0.21
Bay, FL 0.21
Brevard, FL 0.25
Broward, FL 0.25
Charlotte, FL 0.26
Citrus, FL 0.24
Clay, FL 0.36
Collier, FL 0.16
Duval, FL 0.25
Escambia, FL 0.22
Flagler, FL 0.28
Gadsden, FL 0.22
Gilchrist, FL 0.24
Gulf, FL 0.10
Hernando, FL 0.40
Highlands, FL 0.22
Hillsborough, FL 0.29
Indian River, FL 0.23
Jefferson, FL 0.16
Lake, FL 0.29
Lee, FL 0.25
Leon, FL 0.12
Manatee, FL 0.21
Marion, FL 0.23
Martin, FL 0.17
Miami-Dade, FL 0.23
Nassau, FL 0.21
Okaloosa, FL 0.21
Orange, FL 0.26
Osceola, FL 0.40
Palm Beach, FL 0.21
Pasco, FL 0.32
Pinellas, FL 0.20
Polk, FL 0.38
St. Johns, FL 0.18
St. Lucie, FL 0.33
Santa Rosa, FL 0.26
Sarasota, FL 0.18
Seminole, FL 0.23
Sumter, FL 0.14
Volusia, FL 0.29
Wakulla, FL 0.23
Walton, FL 0.11
Baker, GA 0.12
Barrow, GA 0.34
Bartow, GA 0.29
Bibb, GA 0.23
Brantley, GA 0.13
Brooks, GA 0.12
Bryan, GA 0.31
Burke, GA 0.13
Butts, GA 0.32
Carroll, GA 0.27
Catoosa, GA 0.29
Chatham, GA 0.26
Chattahoochee, GA 0.45
Cherokee, GA 0.24
Clarke, GA 0.12
Clayton, GA 0.53
Cobb, GA 0.21
Columbia, GA 0.26
Coweta, GA 0.28
Crawford, GA 0.16
Dade, GA 0.17
Dawson, GA 0.21
DeKalb, GA 0.19
Dougherty, GA 0.20
Douglas, GA 0.43
Echols, GA 0.10
Effingham, GA 0.37
Fayette, GA 0.24
Floyd, GA 0.18
Forsyth, GA 0.14
Fulton, GA 0.15
Glynn, GA 0.18
Gwinnett, GA 0.28
Hall, GA 0.27
Haralson, GA 0.20
Harris, GA 0.32
Heard, GA 0.22
Henry, GA 0.46
Houston, GA 0.32
Jasper, GA 0.23
Jones, GA 0.20
Lamar, GA 0.29
Lanier, GA 0.23
Lee, GA 0.20
Liberty, GA 0.49
Lincoln, GA 0.09
Long, GA 0.49
Lowndes, GA 0.20
McDuffie, GA 0.15
McIntosh, GA 0.13
Madison, GA 0.20
Marion, GA 0.25
Meriwether, GA 0.26
Monroe, GA 0.17
Morgan, GA 0.15
Murray, GA 0.26
Muscogee, GA 0.34
Newton, GA 0.44
Oconee, GA 0.11
Oglethorpe, GA 0.21
Paulding, GA 0.39
Peach, GA 0.28
Pickens, GA 0.21
Pike, GA 0.23
Pulaski, GA 0.21
Richmond, GA 0.33
Rockdale, GA 0.47
Spalding, GA 0.33
Terrell, GA 0.10
Twiggs, GA 0.25
Walker, GA 0.23
Walton, GA 0.32
Whitfield, GA 0.21
Worth, GA 0.17
Honolulu, HI 0.23
Ada, ID 0.19
Bannock, ID 0.17
Boise, ID 0.20
Bonneville, ID 0.15
Butte, ID 0.14
Canyon, ID 0.31
Franklin, ID 0.18
Gem, ID 0.30
Jefferson, ID 0.16
Kootenai, ID 0.15
Nez Perce, ID 0.17
Owyhee, ID 0.29
Alexander, IL 0.12
Bond, IL 0.14
Boone, IL 0.15
Calhoun, IL 0.08
Champaign, IL 0.05
Clinton, IL 0.11
Cook, IL 0.12
DeKalb, IL 0.17
De Witt, IL 0.06
DuPage, IL 0.11
Ford, IL 0.05
Grundy, IL 0.15
Henry, IL 0.08
Jackson, IL 0.09
Jersey, IL 0.17
Kane, IL 0.20
Kankakee, IL 0.16
Kendall, IL 0.27
Lake, IL 0.14
McHenry, IL 0.19
McLean, IL 0.05
Macon, IL 0.10
Macoupin, IL 0.11
Madison, IL 0.21
Marshall, IL 0.11
Menard, IL 0.07
Mercer, IL 0.11
Monroe, IL 0.13
Peoria, IL 0.13
Piatt, IL 0.08
Rock Island, IL 0.11
St. Clair, IL 0.29
Sangamon, IL 0.11
Stark, IL 0.12
Tazewell, IL 0.14
Vermilion, IL 0.13
Will, IL 0.20
Williamson, IL 0.12
Winnebago, IL 0.13
Woodford, IL 0.07
Allen, IN 0.21
Bartholomew, IN 0.14
Benton, IN 0.14
Boone, IN 0.13
Brown, IN 0.18
Carroll, IN 0.17
Clark, IN 0.26
Clay, IN 0.17
Dearborn, IN 0.16
Delaware, IN 0.24
Elkhart, IN 0.20
Floyd, IN 0.20
Hamilton, IN 0.14
Hancock, IN 0.28
Harrison, IN 0.19
Hendricks, IN 0.26
Howard, IN 0.31
Jasper, IN 0.24
Johnson, IN 0.26
Lake, IN 0.25
LaPorte, IN 0.21
Madison, IN 0.28
Marion, IN 0.28
Monroe, IN 0.13
Morgan, IN 0.24
Newton, IN 0.24
Ohio, IN 0.17
Owen, IN 0.17
Porter, IN 0.23
Posey, IN 0.15
Putnam, IN 0.23
St. Joseph, IN 0.20
Scott, IN 0.17
Shelby, IN 0.22
Sullivan, IN 0.20
Tippecanoe, IN 0.21
Union, IN 0.13
Vanderburgh, IN 0.22
Vermillion, IN 0.15
Vigo, IN 0.22
Warrick, IN 0.17
Washington, IN 0.21
Wells, IN 0.13
Whitley, IN 0.18
Benton, IA 0.09
Black Hawk, IA 0.04
Bremer, IA 0.03
Dallas, IA 0.05
Dubuque, IA 0.04
Grundy, IA 0.04
Guthrie, IA 0.07
Harrison, IA 0.08
Johnson, IA 0.03
Jones, IA 0.08
Linn, IA 0.07
Madison, IA 0.08
Mills, IA 0.12
Plymouth, IA 0.06
Polk, IA 0.10
Pottawattamie, IA 0.10
Scott, IA 0.11
Story, IA 0.07
Warren, IA 0.11
Washington, IA 0.06
Woodbury, IA 0.10
Butler, KS 0.18
Doniphan, KS 0.09
Douglas, KS 0.07
Harvey, KS 0.15
Jackson, KS 0.12
Jefferson, KS 0.11
Johnson, KS 0.09
Kingman, KS 0.14
Leavenworth, KS 0.19
Linn, KS 0.19
Miami, KS 0.15
Osage, KS 0.17
Pottawatomie, KS 0.10
Riley, KS 0.10
Sedgwick, KS 0.17
Shawnee, KS 0.15
Sumner, KS 0.15
Wabaunsee, KS 0.15
Wyandotte, KS 0.20
Allen, KY 0.11
Boone, KY 0.18
Bourbon, KY 0.15
Boyd, KY 0.19
Bracken, KY 0.12
Bullitt, KY 0.22
Butler, KY 0.14
Campbell, KY 0.12
Christian, KY 0.25
Clark, KY 0.22
Daviess, KY 0.09
Edmonson, KY 0.10
Fayette, KY 0.14
Gallatin, KY 0.23
Grant, KY 0.18
Greenup, KY 0.12
Hancock, KY 0.13
Hardin, KY 0.27
Henderson, KY 0.16
Henry, KY 0.22
Jefferson, KY 0.17
Jessamine, KY 0.14
Kenton, KY 0.19
Larue, KY 0.15
McLean, KY 0.06
Meade, KY 0.25
Oldham, KY 0.14
Pendleton, KY 0.21
Scott, KY 0.19
Shelby, KY 0.18
Spencer, KY 0.20
Trigg, KY 0.21
Trimble, KY 0.20
Warren, KY 0.14
Woodford, KY 0.14
Acadia, LA 0.12
Ascension, LA 0.24
Bossier, LA 0.26
Caddo, LA 0.23
Calcasieu, LA 0.24
Cameron, LA 0.08
De Soto, LA 0.20
East Baton Rouge, LA 0.21
East Feliciana, LA 0.14
Grant, LA 0.15
Iberia, LA 0.16
Iberville, LA 0.16
Jefferson, LA 0.20
Lafayette, LA 0.20
Lafourche, LA 0.18
Livingston, LA 0.28
Orleans, LA 0.11
Ouachita, LA 0.13
Plaquemines, LA 0.11
Pointe Coupee, LA 0.11
Rapides, LA 0.20
St. Bernard, LA 0.26
St. Charles, LA 0.21
St. Helena, LA 0.13
St. James, LA 0.13
St. John the Baptist, LA 0.28
St. Martin, LA 0.15
St. Tammany, LA 0.20
Tangipahoa, LA 0.20
Terrebonne, LA 0.19
Union, LA 0.09
Vermilion, LA 0.13
Webster, LA 0.13
West Baton Rouge, LA 0.31
West Feliciana, LA 0.11
Androscoggin, ME 0.25
Cumberland, ME 0.10
Penobscot, ME 0.17
Sagadahoc, ME 0.14
York, ME 0.16
Allegany, MD 0.19
Anne Arundel, MD 0.26
Baltimore, MD 0.26
Calvert, MD 0.26
Carroll, MD 0.22
Cecil, MD 0.27
Charles, MD 0.41
Frederick, MD 0.23
Harford, MD 0.28
Howard, MD 0.14
Montgomery, MD 0.13
Prince George's, MD 0.36
Queen Anne's, MD 0.20
St. Mary's, MD 0.25
Somerset, MD 0.26
Washington, MD 0.25
Wicomico, MD 0.26
Worcester, MD 0.08
Baltimore (Independent City), MD 0.22
Barnstable, MA 0.08
Berkshire, MA 0.10
Bristol, MA 0.17
Essex, MA 0.12
Hampden, MA 0.19
Hampshire, MA 0.08
Middlesex, MA 0.05
Norfolk, MA 0.07
Plymouth, MA 0.16
Suffolk, MA 0.05
Worcester, MA 0.14
Barry, MI 0.16
Bay, MI 0.17
Berrien, MI 0.12
Calhoun, MI 0.20
Cass, MI 0.15
Clinton, MI 0.12
Eaton, MI 0.16
Genesee, MI 0.23
Ingham, MI 0.15
Jackson, MI 0.20
Kalamazoo, MI 0.14
Kent, MI 0.13
Lapeer, MI 0.19
Livingston, MI 0.14
Macomb, MI 0.21
Midland, MI 0.13
Monroe, MI 0.21
Montcalm, MI 0.18
Muskegon, MI 0.22
Oakland, MI 0.12
Ottawa, MI 0.10
Saginaw, MI 0.14
St. Clair, MI 0.24
Van Buren, MI 0.13
Washtenaw, MI 0.09
Wayne, MI 0.21
Anoka, MN 0.18
Benton, MN 0.11
Blue Earth, MN 0.14
Carlton, MN 0.14
Carver, MN 0.10
Chisago, MN 0.20
Clay, MN 0.09
Dakota, MN 0.13
Dodge, MN 0.09
Fillmore, MN 0.06
Hennepin, MN 0.10
Houston, MN 0.03
Isanti, MN 0.22
Le Sueur, MN 0.13
Mille Lacs, MN 0.18
Nicollet, MN 0.12
Olmsted, MN 0.06
Polk, MN 0.10
Ramsey, MN 0.13
St. Louis, MN 0.10
Scott, MN 0.14
Sherburne, MN 0.19
Sibley, MN 0.17
Stearns, MN 0.11
Wabasha, MN 0.09
Washington, MN 0.12
Wright, MN 0.17
Benton, MS 0.09
Copiah, MS 0.09
DeSoto, MS 0.24
Forrest, MS 0.10
Hancock, MS 0.22
Harrison, MS 0.25
Hinds, MS 0.14
Jackson, MS 0.17
Lamar, MS 0.09
Madison, MS 0.09
Marshall, MS 0.14
Perry, MS 0.09
Rankin, MS 0.12
Simpson, MS 0.09
Tate, MS 0.14
Tunica, MS 0.12
Yazoo, MS 0.04
Andrew, MO 0.15
Bates, MO 0.16
Bollinger, MO 0.14
Boone, MO 0.15
Buchanan, MO 0.21
Caldwell, MO 0.09
Callaway, MO 0.16
Cape Girardeau, MO 0.12
Cass, MO 0.19
Christian, MO 0.14
Clay, MO 0.17
Clinton, MO 0.18
Cole, MO 0.14
Dallas, MO 0.15
DeKalb, MO 0.15
Franklin, MO 0.16
Greene, MO 0.16
Jackson, MO 0.17
Jasper, MO 0.18
Jefferson, MO 0.30
Lafayette, MO 0.17
Lincoln, MO 0.26
McDonald, MO 0.17
Moniteau, MO 0.06
Newton, MO 0.17
Osage, MO 0.06
Platte, MO 0.14
Polk, MO 0.16
Ray, MO 0.19
St. Charles, MO 0.20
St. Louis, MO 0.15
Warren, MO 0.20
Webster, MO 0.14
St. Louis (Independent City), MO 0.16
Carbon, MT 0.07
Cascade, MT 0.18
Golden Valley, MT 0.11
Missoula, MT 0.08
Yellowstone, MT 0.10
Cass, NE 0.13
Dakota, NE 0.10
Dixon, NE 0.13
Douglas, NE 0.11
Hall, NE 0.12
Hamilton, NE 0.11
Howard, NE 0.08
Lancaster, NE 0.08
Merrick, NE 0.06
Sarpy, NE 0.17
Saunders, NE 0.08
Seward, NE 0.05
Washington, NE 0.12
Clark, NV 0.36
Storey, NV 0.32
Washoe, NV 0.22
Carson City (Independent City), NV 0.22
Hillsborough, NH 0.19
Rockingham, NH 0.15
Strafford, NH 0.21
Atlantic, NJ 0.24
Bergen, NJ 0.12
Burlington, NJ 0.25
Camden, NJ 0.30
Cape May, NJ 0.07
Cumberland, NJ 0.46
Essex, NJ 0.20
Gloucester, NJ 0.31
Hudson, NJ 0.12
Hunterdon, NJ 0.11
Mercer, NJ 0.17
Middlesex, NJ 0.17
Monmouth, NJ 0.14
Morris, NJ 0.12
Ocean, NJ 0.22
Passaic, NJ 0.26
Salem, NJ 0.34
Somerset, NJ 0.11
Sussex, NJ 0.26
Union, NJ 0.24
Warren, NJ 0.24
Bernalillo, NM 0.28
Doña Ana, NM 0.23
Sandoval, NM 0.37
San Juan, NM 0.36
Santa Fe, NM 0.14
Torrance, NM 0.33
Valencia, NM 0.33
Albany, NY 0.13
Bronx, NY 0.23
Broome, NY 0.20
Chemung, NY 0.13
Dutchess, NY 0.14
Erie, NY 0.14
Herkimer, NY 0.13
Jefferson, NY 0.17
Kings, NY 0.08
Livingston, NY 0.10
Madison, NY 0.16
Monroe, NY 0.12
Nassau, NY 0.14
New York, NY 0.00
Niagara, NY 0.21
Oneida, NY 0.12
Onondaga, NY 0.19
Ontario, NY 0.08
Orange, NY 0.20
Orleans, NY 0.15
Oswego, NY 0.19
Putnam, NY 0.15
Queens, NY 0.13
Rensselaer, NY 0.19
Richmond, NY 0.14
Rockland, NY 0.12
Saratoga, NY 0.12
Schenectady, NY 0.21
Schoharie, NY 0.18
Suffolk, NY 0.22
Tioga, NY 0.12
Tompkins, NY 0.05
Ulster, NY 0.09
Warren, NY 0.17
Washington, NY 0.24
Wayne, NY 0.12
Westchester, NY 0.09
Yates, NY 0.05
Alamance, NC 0.19
Alexander, NC 0.17
Brunswick, NC 0.14
Buncombe, NC 0.10
Burke, NC 0.16
Cabarrus, NC 0.22
Caldwell, NC 0.22
Catawba, NC 0.17
Chatham, NC 0.09
Craven, NC 0.29
Cumberland, NC 0.49
Currituck, NC 0.22
Davidson, NC 0.22
Davie, NC 0.16
Durham, NC 0.15
Edgecombe, NC 0.15
Forsyth, NC 0.22
Franklin, NC 0.21
Gaston, NC 0.26
Gates, NC 0.30
Guilford, NC 0.20
Haywood, NC 0.13
Henderson, NC 0.15
Hoke, NC 0.55
Iredell, NC 0.17
Johnston, NC 0.21
Jones, NC 0.27
Lincoln, NC 0.17
Madison, NC 0.13
Mecklenburg, NC 0.17
Nash, NC 0.18
New Hanover, NC 0.15
Onslow, NC 0.52
Orange, NC 0.06
Pamlico, NC 0.14
Pender, NC 0.25
Person, NC 0.20
Pitt, NC 0.19
Randolph, NC 0.20
Rockingham, NC 0.21
Rowan, NC 0.23
Stokes, NC 0.21
Union, NC 0.17
Wake, NC 0.12
Wayne, NC 0.27
Yadkin, NC 0.15
Burleigh, ND 0.04
Cass, ND 0.07
Grand Forks, ND 0.08
Morton, ND 0.06
Oliver, ND 0.05
Sioux, ND 0.20
Allen, OH 0.13
Belmont, OH 0.15
Brown, OH 0.22
Butler, OH 0.17
Carroll, OH 0.20
Clark, OH 0.20
Clermont, OH 0.17
Cuyahoga, OH 0.19
Delaware, OH 0.09
Fairfield, OH 0.23
Franklin, OH 0.17
Fulton, OH 0.15
Geauga, OH 0.12
Greene, OH 0.18
Hamilton, OH 0.13
Hocking, OH 0.18
Jefferson, OH 0.17
Lake, OH 0.23
Lawrence, OH 0.14
Licking, OH 0.20
Lorain, OH 0.24
Lucas, OH 0.20
Madison, OH 0.20
Mahoning, OH 0.17
Medina, OH 0.20
Miami, OH 0.17
Montgomery, OH 0.19
Morrow, OH 0.21
Perry, OH 0.19
Pickaway, OH 0.25
Portage, OH 0.19
Richland, OH 0.20
Stark, OH 0.22
Summit, OH 0.21
Trumbull, OH 0.20
Union, OH 0.13
Warren, OH 0.12
Wood, OH 0.14
Canadian, OK 0.22
Cleveland, OK 0.17
Comanche, OK 0.36
Cotton, OK 0.16
Creek, OK 0.17
Garfield, OK 0.14
Grady, OK 0.17
Le Flore, OK 0.10
Lincoln, OK 0.13
Logan, OK 0.17
McClain, OK 0.15
Oklahoma, OK 0.17
Okmulgee, OK 0.16
Osage, OK 0.20
Pawnee, OK 0.19
Rogers, OK 0.18
Sequoyah, OK 0.12
Tulsa, OK 0.17
Wagoner, OK 0.18
Benton, OR 0.10
Clackamas, OR 0.16
Columbia, OR 0.27
Deschutes, OR 0.16
Jackson, OR 0.23
Josephine, OR 0.23
Lane, OR 0.23
Linn, OR 0.25
Marion, OR 0.25
Multnomah, OR 0.11
Polk, OR 0.25
Washington, OR 0.13
Yamhill, OR 0.23
Adams, PA 0.22
Allegheny, PA 0.17
Armstrong, PA 0.18
Beaver, PA 0.24
Berks, PA 0.22
Blair, PA 0.16
Bucks, PA 0.16
Butler, PA 0.14
Cambria, PA 0.11
Carbon, PA 0.23
Centre, PA 0.10
Chester, PA 0.12
Columbia, PA 0.11
Cumberland, PA 0.18
Dauphin, PA 0.23
Delaware, PA 0.21
Erie, PA 0.19
Fayette, PA 0.16
Franklin, PA 0.20
Lackawanna, PA 0.19
Lancaster, PA 0.18
Lebanon, PA 0.20
Lehigh, PA 0.23
Luzerne, PA 0.21
Lycoming, PA 0.15
Mercer, PA 0.14
Monroe, PA 0.28
Montgomery, PA 0.15
Montour, PA 0.09
Northampton, PA 0.25
Perry, PA 0.16
Philadelphia, PA 0.17
Pike, PA 0.24
Washington, PA 0.17
Westmoreland, PA 0.19
Wyoming, PA 0.14
York, PA 0.25
Bristol, RI 0.11
Kent, RI 0.22
Newport, RI 0.10
Providence, RI 0.23
Washington, RI 0.10
Aiken, SC 0.18
Anderson, SC 0.23
Beaufort, SC 0.16
Berkeley, SC 0.32
Calhoun, SC 0.23
Charleston, SC 0.13
Chester, SC 0.20
Darlington, SC 0.23
Dorchester, SC 0.34
Edgefield, SC 0.17
Fairfield, SC 0.18
Florence, SC 0.25
Greenville, SC 0.19
Horry, SC 0.16
Jasper, SC 0.16
Kershaw, SC 0.34
Lancaster, SC 0.20
Laurens, SC 0.24
Lexington, SC 0.26
Pickens, SC 0.23
Richland, SC 0.32
Saluda, SC 0.21
Spartanburg, SC 0.26
Sumter, SC 0.40
Union, SC 0.20
York, SC 0.21
Custer, SD 0.17
Lincoln, SD 0.06
McCook, SD 0.04
Meade, SD 0.23
Minnehaha, SD 0.07
Pennington, SD 0.23
Turner, SD 0.05
Union, SD 0.06
Anderson, TN 0.26
Blount, TN 0.23
Bradley, TN 0.22
Campbell, TN 0.15
Cannon, TN 0.14
Carter, TN 0.19
Cheatham, TN 0.25
Chester, TN 0.13
Crockett, TN 0.11
Davidson, TN 0.16
Dickson, TN 0.21
Fayette, TN 0.16
Grainger, TN 0.18
Hamblen, TN 0.23
Hamilton, TN 0.23
Hawkins, TN 0.20
Hickman, TN 0.20
Jefferson, TN 0.23
Knox, TN 0.22
Loudon, TN 0.21
Macon, TN 0.13
Madison, TN 0.17
Marion, TN 0.18
Maury, TN 0.24
Montgomery, TN 0.45
Morgan, TN 0.15
Polk, TN 0.23
Roane, TN 0.24
Robertson, TN 0.24
Rutherford, TN 0.23
Sequatchie, TN 0.16
Shelby, TN 0.20
Smith, TN 0.14
Sullivan, TN 0.23
Sumner, TN 0.21
Tipton, TN 0.21
Trousdale, TN 0.17
Unicoi, TN 0.17
Union, TN 0.17
Washington, TN 0.20
Williamson, TN 0.10
Wilson, TN 0.21
Aransas, TX 0.12
Archer, TX 0.04
Armstrong, TX 0.25
Atascosa, TX 0.29
Austin, TX 0.15
Bandera, TX 0.23
Bastrop, TX 0.23
Bell, TX 0.49
Bexar, TX 0.35
Bowie, TX 0.14
Brazoria, TX 0.28
Brazos, TX 0.12
Burleson, TX 0.11
Caldwell, TX 0.32
Callahan, TX 0.15
Cameron, TX 0.33
Carson, TX 0.12
Chambers, TX 0.26
Clay, TX 0.06
Collin, TX 0.12
Comal, TX 0.23
Coryell, TX 0.45
Crosby, TX 0.07
Dallas, TX 0.17
Denton, TX 0.15
Ector, TX 0.35
Ellis, TX 0.29
El Paso, TX 0.36
Falls, TX 0.19
Fort Bend, TX 0.19
Galveston, TX 0.24
Goliad, TX 0.13
Grayson, TX 0.23
Gregg, TX 0.24
Guadalupe, TX 0.42
Hardin, TX 0.25
Harris, TX 0.24
Hays, TX 0.25
Hidalgo, TX 0.36
Hood, TX 0.21
Hudspeth, TX 0.10
Hunt, TX 0.29
Irion, TX 0.14
Jefferson, TX 0.26
Johnson, TX 0.30
Jones, TX 0.17
Kaufman, TX 0.35
Kendall, TX 0.15
Lampasas, TX 0.38
Liberty, TX 0.26
Lubbock, TX 0.08
Lynn, TX 0.08
McLennan, TX 0.19
Martin, TX 0.23
Medina, TX 0.32
Midland, TX 0.24
Montgomery, TX 0.22
Newton, TX 0.13
Nueces, TX 0.25
Oldham, TX 0.11
Orange, TX 0.26
Parker, TX 0.21
Potter, TX 0.18
Randall, TX 0.18
Robertson, TX 0.13
Rockwall, TX 0.21
Rusk, TX 0.20
San Patricio, TX 0.29
Smith, TX 0.20
Somervell, TX 0.15
Tarrant, TX 0.23
Taylor, TX 0.21
Tom Green, TX 0.30
Travis, TX 0.11
Upshur, TX 0.21
Victoria, TX 0.26
Waller, TX 0.20
Webb, TX 0.38
Wichita, TX 0.09
Williamson, TX 0.20
Wilson, TX 0.29
Wise, TX 0.20
Box Elder, UT 0.22
Cache, UT 0.15
Davis, UT 0.26
Juab, UT 0.22
Morgan, UT 0.16
Salt Lake, UT 0.22
Tooele, UT 0.33
Utah, UT 0.20
Washington, UT 0.25
Weber, UT 0.32
Chittenden, VT 0.07
Franklin, VT 0.15
Grand Isle, VT 0.09
Amelia, VA 0.20
Amherst, VA 0.20
Appomattox, VA 0.24
Arlington, VA 0.07
Bedford, VA 0.20
Botetourt, VA 0.17
Buckingham, VA 0.26
Caroline, VA 0.33
Charles City, VA 0.23
Chesterfield, VA 0.24
Clarke, VA 0.18
Craig, VA 0.16
Culpeper, VA 0.28
Fauquier, VA 0.21
Floyd, VA 0.17
Fluvanna, VA 0.26
Franklin, VA 0.15
Giles, VA 0.16
Gloucester, VA 0.30
Goochland, VA 0.13
Greene, VA 0.26
Hanover, VA 0.18
Henrico, VA 0.18
Isle of Wight, VA 0.32
King William, VA 0.22
Loudoun, VA 0.16
Mathews, VA 0.16
Nelson, VA 0.10
New Kent, VA 0.23
Powhatan, VA 0.17
Pulaski, VA 0.21
Rappahannock, VA 0.11
Scott, VA 0.15
Stafford, VA 0.42
Sussex, VA 0.25
Warren, VA 0.28
Alexandria (Independent City), VA 0.13
Chesapeake (Independent City), VA 0.39
Hampton (Independent City), VA 0.41
Newport News (Independent City), VA 0.36
Norfolk (Independent City), VA 0.37
Portsmouth (Independent City), VA 0.41
Richmond (Independent City), VA 0.11
Roanoke (Independent City), VA 0.25
Suffolk (Independent City), VA 0.40
Virginia Beach (Independent City), VA 0.33
Asotin, WA 0.17
Benton, WA 0.16
Chelan, WA 0.16
Clark, WA 0.21
Columbia, WA 0.29
Cowlitz, WA 0.29
Douglas, WA 0.23
Franklin, WA 0.16
King, WA 0.09
Kitsap, WA 0.29
Pend Oreille, WA 0.24
Pierce, WA 0.32
Skagit, WA 0.17
Skamania, WA 0.19
Snohomish, WA 0.19
Spokane, WA 0.20
Stevens, WA 0.27
Thurston, WA 0.28
Walla Walla, WA 0.19
Whatcom, WA 0.11
Yakima, WA 0.20
Berkeley, WV 0.25
Boone, WV 0.16
Brooke, WV 0.13
Cabell, WV 0.12
Clay, WV 0.05
Fayette, WV 0.12
Hampshire, WV 0.10
Hancock, WV 0.15
Jefferson, WV 0.22
Kanawha, WV 0.17
Lincoln, WV 0.17
Marshall, WV 0.13
Mineral, WV 0.14
Monongalia, WV 0.05
Ohio, WV 0.10
Preston, WV 0.08
Putnam, WV 0.15
Raleigh, WV 0.13
Wayne, WV 0.17
Wirt, WV 0.05
Wood, WV 0.15
Brown, WI 0.11
Calumet, WI 0.09
Chippewa, WI 0.07
Columbia, WI 0.12
Dane, WI 0.06
Douglas, WI 0.12
Eau Claire, WI 0.08
Fond du Lac, WI 0.09
Green, WI 0.05
Iowa, WI 0.07
Kenosha, WI 0.19
Kewaunee, WI 0.08
La Crosse, WI 0.07
Marathon, WI 0.08
Milwaukee, WI 0.15
Oconto, WI 0.11
Outagamie, WI 0.12
Ozaukee, WI 0.06
Pierce, WI 0.09
Racine, WI 0.16
Rock, WI 0.14
St. Croix, WI 0.11
Sheboygan, WI 0.09
Washington, WI 0.09
Waukesha, WI 0.08
Winnebago, WI 0.11
Laramie, WY 0.21
Natrona, WY 0.22

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