Bethesda-Frederick-Gaithersburg, MD Metro Area Mortgage Lenders & HMDA Data, 2008
In 2008, lenders reported 68,074 mortgage applications in Bethesda-Frederick-Gaithersburg, MD metro area totaling $22.1 billion. The average application was for $324,889, and applicants reported an average income of $118,000. 44% of applications resulted in an originated loan and 18% were denied. The most active lender was Countrywide Bank FSB, with 5,573 applications, followed by Wells Fargo Bank, NA and JPMorgan Chase Bank, NA.
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| Years | 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 68,074 |
| Total Mortgage Loan Application Amount | $22,116,557,000 |
| Average Mortgage Loan Application Amount | $324,889 |
| Highest Mortgage Loan Application Amount | $49,333,000 |
| Average Applicant Income | $118,000 |
| Highest Applicant Income | $9,900,000 |
Top Mortgage Lenders in Bethesda-Frederick-Gaithersburg, MD Metro Area (2008)
Ranked by the number of mortgage applications each lender reported in Bethesda-Frederick-Gaithersburg, MD metro area in 2008.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Countrywide Bank FSB Westlake Village, CA |
5,573 | $1,674,239,000 | $300,000 | $107,000 |
| 2 | Wells Fargo Bank, NA Des Moines, IA |
4,867 | $1,659,031,000 | $340,000 | $133,000 |
| 3 | JPMorgan Chase Bank, NA Columbus, OH |
4,619 | $1,668,618,000 | $361,000 | $97,000 |
| 4 | Bank of America, N.A. Calabasas, CA |
4,420 | $1,311,948,000 | $296,000 | $157,000 |
| 5 | Citimortgage, Inc New York, NY |
2,213 | $738,485,000 | $333,000 | $133,000 |
| 6 | Suntrust Mortgage, Inc Richmond, VA |
2,189 | $711,414,000 | $324,000 | $130,000 |
| 7 | Wells Fargo Funding, Inc Winston-Salem, NC |
1,825 | $577,888,000 | $316,000 | $113,000 |
| 8 | Gmac Mortgage LLC Ft. Washington, PA |
1,772 | $525,396,000 | $296,000 | $58,000 |
| 9 | Beneficial Company LLC Mettawa, IL |
1,639 | $428,246,000 | $261,000 | $91,000 |
| 10 | National City Bank Cleveland, OH |
1,545 | $487,849,000 | $315,000 | $120,000 |
See every lender active in Bethesda-Frederick-Gaithersburg, MD metro area in 2008 »
The tables below break down 2008 mortgage applications in Bethesda-Frederick-Gaithersburg, MD metro area by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Bethesda-Frederick-Gaithersburg, MD in 2008
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 39,984 | $12,997,860,000 | $325,000 | $49,333,000 | $114,000 | $6,510,000 |
| Home Purchase | 23,786 | $8,446,026,000 | $355,000 | $46,576,000 | $127,000 | $9,900,000 |
| Home Improvement | 4,304 | $672,671,000 | $156,000 | $43,336,000 | $112,000 | $2,562,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 32,447 | $10,462,550,000 | $322,000 | $4,374,000 | $134,000 | $6,949,000 |
| Not Provided | 10,129 | $3,227,577,000 | $318,000 | $4,200,000 | $141,000 | $7,933,000 |
| Black or African American | 7,008 | $2,046,185,000 | $291,000 | $3,000,000 | $98,000 | $9,900,000 |
| Asian | 6,230 | $2,105,470,000 | $337,000 | $3,000,000 | $123,000 | $3,600,000 |
| Hispanic | 5,950 | $1,677,696,000 | $281,000 | $1,725,000 | $86,000 | $1,775,000 |
| Not applicable | 5,844 | $2,451,004,000 | $419,000 | $49,333,000 | $42,000 | $3,617,000 |
| Native Hawaiian or Other Pacific Islander | 234 | $72,719,000 | $310,000 | $2,000,000 | $122,000 | $847,000 |
| American Indian or Alaskan Native | 232 | $73,356,000 | $316,000 | $2,084,000 | $135,000 | $3,050,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 56,254 | $18,407,124,000 | $327,000 | $49,333,000 | $125,000 | $9,900,000 |
| FHA-insured (Federal Housing Administration) | 10,875 | $3,401,531,000 | $312,000 | $25,000,000 | $84,000 | $1,332,000 |
| VA-guaranteed (Veterans Administration) | 916 | $301,568,000 | $329,000 | $1,013,000 | $83,000 | $531,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 29 | $6,334,000 | $218,000 | $479,000 | $36,000 | $165,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 30,005 | $9,846,286,000 | $328,000 | $49,333,000 | $136,000 | $9,900,000 |
| Loan Purchased By The Institution | 13,115 | $4,405,803,000 | $335,000 | $6,000,000 | $75,000 | $6,949,000 |
| Application Denied By Financial Institution | 12,188 | $3,749,288,000 | $307,000 | $7,366,000 | $106,000 | $5,500,000 |
| Application Withdrawn By Applicant | 6,844 | $2,302,052,000 | $336,000 | $25,000,000 | $132,000 | $4,000,000 |
| Application Approved But Not Accepted | 4,284 | $1,285,025,000 | $299,000 | $3,500,000 | $135,000 | $6,510,000 |
| File Closed For Incompleteness | 1,630 | $526,157,000 | $322,000 | $2,660,000 | $131,000 | $2,600,000 |
| Preapproval Denied by Financial Institution | 8 | $1,946,000 | $243,000 | $480,000 | $77,000 | $115,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Collateral | 2,326 | $746,848,000 | $321,000 | $2,992,000 | $123,000 | $3,600,000 |
| Debt-To-Income Ratio | 1,983 | $662,789,000 | $334,000 | $7,366,000 | $89,000 | $1,980,000 |
| Credit History | 1,520 | $374,615,000 | $246,000 | $2,925,000 | $104,000 | $2,562,000 |
| Other | 910 | $306,461,000 | $336,000 | $2,500,000 | $141,000 | $5,500,000 |
| Credit Application Incomplete | 837 | $286,521,000 | $342,000 | $3,146,000 | $125,000 | $1,200,000 |
| Unverifiable Information | 370 | $124,191,000 | $335,000 | $1,768,000 | $109,000 | $950,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 181 | $62,689,000 | $346,000 | $2,100,000 | $133,000 | $1,000,000 |
| Employment History | 97 | $29,269,000 | $301,000 | $1,280,000 | $91,000 | $404,000 |
| Mortgage Insurance Denied | 24 | $8,058,000 | $335,000 | $680,000 | $93,000 | $240,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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