Davenport-Moline-Rock Island, IA-IL Metro Area Mortgage Lenders & HMDA Data, 2008

In 2008, lenders reported 25,527 mortgage applications in Davenport-Moline-Rock Island, IA-IL metro area totaling $2.8 billion, down 17% from 2007. The average application was for $109,451, and applicants reported an average income of $62,480. 51% of applications resulted in an originated loan and 17% were denied. The most active lender was Wells Fargo Bank, NA, with 1,354 applications, followed by Wells Fargo Bank, NA and Countrywide Bank FSB.

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Total Number of Mortgage Applications 25,527
Total Mortgage Loan Application Amount $2,793,959,000
Average Mortgage Loan Application Amount $109,451
Highest Mortgage Loan Application Amount $5,600,000
Average Applicant Income $62,480
Highest Applicant Income $9,999,000
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Top Mortgage Lenders in Davenport-Moline-Rock Island, IA-IL Metro Area (2008)

Ranked by the number of mortgage applications each lender reported in Davenport-Moline-Rock Island, IA-IL metro area in 2008.

# Mortgage Lender Mortgage Applications Total Dollar Amount Average Loan Amount Average Applicant Income
1 Wells Fargo Bank, NA
Des Moines, IA
1,354 $179,133,000 $132,000 $75,000
2 Wells Fargo Bank, NA
Des Moines, IA
998 $102,455,000 $102,000 $66,000
3 Countrywide Bank FSB
Westlake Village, CA
903 $100,603,000 $111,000 $58,000
4 Countrywide Bank FSB
Westlake Village, CA
872 $109,597,000 $125,000 $60,000
5 Vibrant Credit Union
Moline, IL
827 $50,332,000 $60,000 $64,000
6 Valley Bank
Moline, IL
766 $105,947,000 $138,000 $66,000
7 Triumph Community Bank NA
Moline, IL
540 $40,761,000 $75,000 $60,000
8 Citimortgage, Inc
New York, NY
509 $75,234,000 $147,000 $74,000
9 Gmac Mortgage LLC
Ft. Washington, PA
485 $77,595,000 $159,000 $16,000
10 American B&T C, N.A.
Davenport, IA
468 $45,308,000 $96,000 $74,000

See every lender active in Davenport-Moline-Rock Island, IA-IL metro area in 2008 »

The tables below break down 2008 mortgage applications in Davenport-Moline-Rock Island, IA-IL 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 Davenport-Moline-Rock Island, IA-IL 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 13,481 $1,595,858,000 $118,000 $5,600,000 $63,000 $9,999,000
Home Purchase 9,012 $1,069,365,000 $118,000 $3,126,000 $61,000 $3,047,000
Home Improvement 3,034 $128,736,000 $42,000 $600,000 $63,000 $3,150,000

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 19,405 $2,047,472,000 $105,000 $1,600,000 $68,000 $9,999,000
Not applicable 2,547 $395,935,000 $155,000 $5,600,000 $27,000 $1,000,000
Not Provided 1,463 $162,013,000 $110,000 $933,000 $65,000 $660,000
Hispanic 1,071 $84,168,000 $78,000 $832,000 $51,000 $500,000
Black or African American 732 $64,469,000 $88,000 $417,000 $55,000 $514,000
Asian 227 $30,450,000 $134,000 $450,000 $83,000 $729,000
American Indian or Alaskan Native 64 $6,243,000 $97,000 $260,000 $60,000 $229,000
Native Hawaiian or Other Pacific Islander 18 $3,209,000 $178,000 $442,000 $79,000 $184,000

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) 19,338 $2,095,933,000 $108,000 $5,600,000 $67,000 $9,999,000
FHA-insured (Federal Housing Administration) 5,411 $599,396,000 $110,000 $933,000 $49,000 $1,560,000
VA-guaranteed (Veterans Administration) 480 $73,751,000 $153,000 $442,000 $53,000 $229,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 298 $24,879,000 $83,000 $887,000 $27,000 $130,000

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 12,911 $1,362,400,000 $105,000 $3,126,000 $69,000 $3,150,000
Loan Purchased By The Institution 4,698 $632,480,000 $134,000 $877,000 $47,000 $1,104,000
Application Denied By Financial Institution 4,347 $410,081,000 $94,000 $5,600,000 $57,000 $9,999,000
Application Withdrawn By Applicant 1,926 $220,193,000 $114,000 $2,550,000 $68,000 $1,560,000
Application Approved But Not Accepted 1,260 $128,306,000 $101,000 $1,800,000 $66,000 $1,000,000
File Closed For Incompleteness 380 $40,197,000 $105,000 $417,000 $69,000 $807,000
Preapproval Approved but not Accepted 4 $247,000 $61,000 $89,000 $32,000 $62,000
Preapproval Denied by Financial Institution 1 $55,000 $55,000 $55,000 $131,000 $131,000

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
Credit History 913 $61,056,000 $66,000 $2,610,000 $63,000 $9,999,000
Collateral 533 $63,178,000 $118,000 $5,600,000 $70,000 $880,000
Debt-To-Income Ratio 481 $46,085,000 $95,000 $477,000 $45,000 $235,000
Other 204 $19,802,000 $97,000 $417,000 $64,000 $732,000
Credit Application Incomplete 101 $9,620,000 $95,000 $290,000 $59,000 $220,000
Unverifiable Information 65 $7,628,000 $117,000 $403,000 $56,000 $205,000
Insufficient Cash (Downpayment, Closing Cost) 44 $4,224,000 $96,000 $295,000 $45,000 $134,000
Employment History 30 $2,577,000 $85,000 $248,000 $40,000 $169,000
Mortgage Insurance Denied 8 $758,000 $94,000 $216,000 $47,000 $86,000

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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