Bradenton-Sarasota-Venice, FL Metro Area Mortgage Lenders & HMDA Data, 2008
In 2008, lenders reported 34,423 mortgage applications in Bradenton-Sarasota-Venice, FL metro area totaling $7.8 billion. The average application was for $225,195, and applicants reported an average income of $110,000. 40% of applications resulted in an originated loan and 24% were denied. The most active lender was Bank of America, N.A., with 3,636 applications, followed by JPMorgan Chase Bank, NA and Wells Fargo Bank, NA.
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| Years | 2009 2008 |
| Total Number of Mortgage Applications | 34,423 |
| Total Mortgage Loan Application Amount | $7,751,909,000 |
| Average Mortgage Loan Application Amount | $225,195 |
| Highest Mortgage Loan Application Amount | $32,500,000 |
| Average Applicant Income | $110,000 |
| Highest Applicant Income | $7,966,000 |
Top Mortgage Lenders in Bradenton-Sarasota-Venice, FL Metro Area (2008)
Ranked by the number of mortgage applications each lender reported in Bradenton-Sarasota-Venice, FL metro area in 2008.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Bank of America, N.A. Calabasas, CA |
3,636 | $712,427,000 | $195,000 | $120,000 |
| 2 | JPMorgan Chase Bank, NA Columbus, OH |
3,182 | $924,324,000 | $290,000 | $84,000 |
| 3 | Wells Fargo Bank, NA Des Moines, IA |
2,297 | $496,865,000 | $216,000 | $120,000 |
| 4 | Countrywide Bank FSB Westlake Village, CA |
2,180 | $421,613,000 | $193,000 | $97,000 |
| 5 | Suntrust Mortgage, Inc Richmond, VA |
1,837 | $428,360,000 | $233,000 | $117,000 |
| 6 | Wachovia Mortgage FSB Winston-Salem, NC |
1,410 | $373,044,000 | $264,000 | $144,000 |
| 7 | Wells Fargo Bank, NA Winston-Salem, NC |
981 | $126,891,000 | $129,000 | $88,000 |
| 8 | Gmac Mortgage LLC Ft. Washington, PA |
814 | $156,989,000 | $192,000 | $73,000 |
| 9 | Branch Banking and Trust Co Wilson, NC |
801 | $163,257,000 | $203,000 | $99,000 |
| 10 | Citimortgage, Inc New York, NY |
794 | $178,610,000 | $224,000 | $122,000 |
See every lender active in Bradenton-Sarasota-Venice, FL metro area in 2008 »
The tables below break down 2008 mortgage applications in Bradenton-Sarasota-Venice, FL 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 Bradenton-Sarasota-Venice, FL 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 | 17,203 | $4,047,656,000 | $235,000 | $32,500,000 | $101,000 | $6,000,000 |
| Home Purchase | 15,136 | $3,455,277,000 | $228,000 | $11,600,000 | $124,000 | $7,966,000 |
| Home Improvement | 2,084 | $248,976,000 | $119,000 | $6,000,000 | $75,000 | $2,190,000 |
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 | 23,750 | $5,277,232,000 | $222,000 | $8,700,000 | $117,000 | $7,966,000 |
| Not Provided | 4,580 | $1,122,893,000 | $245,000 | $10,875,000 | $125,000 | $4,808,000 |
| Not applicable | 2,474 | $721,176,000 | $291,000 | $32,500,000 | $52,000 | $4,999,000 |
| Hispanic | 1,882 | $326,553,000 | $173,000 | $1,780,000 | $79,000 | $2,400,000 |
| Black or African American | 1,197 | $191,525,000 | $160,000 | $942,000 | $71,000 | $2,400,000 |
| Asian | 389 | $83,949,000 | $215,000 | $1,245,000 | $112,000 | $1,000,000 |
| American Indian or Alaskan Native | 93 | $17,408,000 | $187,000 | $1,421,000 | $69,000 | $395,000 |
| Native Hawaiian or Other Pacific Islander | 58 | $11,173,000 | $192,000 | $486,000 | $88,000 | $353,000 |
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) | 28,660 | $6,731,766,000 | $234,000 | $32,500,000 | $120,000 | $7,966,000 |
| FHA-insured (Federal Housing Administration) | 5,156 | $907,998,000 | $176,000 | $540,000 | $60,000 | $1,140,000 |
| VA-guaranteed (Veterans Administration) | 525 | $100,807,000 | $192,000 | $542,000 | $52,000 | $523,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 82 | $11,338,000 | $138,000 | $223,000 | $39,000 | $76,000 |
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 | 13,845 | $3,035,465,000 | $219,000 | $32,500,000 | $130,000 | $7,966,000 |
| Application Denied By Financial Institution | 8,238 | $1,796,797,000 | $218,000 | $11,600,000 | $102,000 | $4,260,000 |
| Loan Purchased By The Institution | 5,395 | $1,358,634,000 | $251,000 | $18,175,000 | $59,000 | $4,999,000 |
| Application Withdrawn By Applicant | 3,136 | $728,898,000 | $232,000 | $6,500,000 | $115,000 | $4,808,000 |
| Application Approved But Not Accepted | 2,733 | $573,650,000 | $209,000 | $3,153,000 | $119,000 | $3,598,000 |
| File Closed For Incompleteness | 1,072 | $257,744,000 | $240,000 | $4,000,000 | $122,000 | $3,060,000 |
| Preapproval Denied by Financial Institution | 4 | $721,000 | $180,000 | $315,000 | $66,000 | $120,000 |
| 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 | 1,942 | $439,132,000 | $226,000 | $4,200,000 | $132,000 | $4,104,000 |
| Debt-To-Income Ratio | 1,496 | $337,341,000 | $225,000 | $3,200,000 | $71,000 | $1,466,000 |
| Credit History | 1,052 | $177,414,000 | $168,000 | $10,875,000 | $93,000 | $3,480,000 |
| Other | 619 | $175,884,000 | $284,000 | $11,600,000 | $157,000 | $4,260,000 |
| Credit Application Incomplete | 470 | $110,230,000 | $234,000 | $2,000,000 | $125,000 | $2,696,000 |
| Unverifiable Information | 267 | $69,067,000 | $258,000 | $2,000,000 | $120,000 | $2,160,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 117 | $27,524,000 | $235,000 | $1,550,000 | $111,000 | $600,000 |
| Employment History | 79 | $18,602,000 | $235,000 | $1,611,000 | $101,000 | $1,128,000 |
| Mortgage Insurance Denied | 15 | $2,685,000 | $179,000 | $475,000 | $110,000 | $421,000 |
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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