1st Choice Mortgage/Equity Cor Mortgage Lending & HMDA Data, 2003
In 2003, 1st Choice Mortgage/Equity Cor of Columbia, SC reported 9,735 mortgage applications totaling $966.4 million. The average application was for $99,266, and applicants reported an average income of $44,984. 30% of its applications resulted in an originated loan and 34% were denied. Its largest markets were Columbia, SC (1,565), Greenville-Spartanburg-Anderson, SC (1,327) and Florence, SC (677) (applications in parentheses).
| Mortgage Company & Address | 1st Choice Mortgage/Equity Cor 1021 Briargate Circle Columbia, SC 29210 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 9,735 |
| Total Mortgage Loan Application Amount | $966,361,000 |
| Average Mortgage Loan Application Amount | $99,266 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $44,984 |
| Highest Applicant Income | $960,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records 1st Choice Mortgage/Equity Cor filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
Mortgage Loan Application Detail Totals for 1st Choice Mortgage/Equity Cor in 2003
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 (home purchase or home improvement, one-to-four family) | 6,246 | $635,704,000 | $146,277 | $1,000,000 | $93,000 | $792,000 |
| Home Purchase (one-to-four family) | 3,439 | $322,335,000 | $115,583 | $960,000 | $65,000 | $960,000 |
| Home Improvement (one-to-four family) | 50 | $8,322,000 | $240,000 | $417,000 | $137,000 | $300,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 6,968 | $729,507,000 | $132,277 | $1,000,000 | $83,166 | $960,000 |
| Black | 2,469 | $206,244,000 | $114,090 | $500,000 | $40,090 | $279,000 |
| Hispanic | 175 | $15,700,000 | $112,333 | $430,000 | $35,666 | $340,000 |
| Asian or Pacific Islander | 66 | $8,101,000 | $183,750 | $347,000 | $95,500 | $480,000 |
| Other | 49 | $6,066,000 | $193,200 | $465,000 | $75,400 | $246,000 |
| American Indian or Alaskan Native | 6 | $609,000 | $101,000 | $140,000 | $62,000 | $89,000 |
| Information not provided by applicant in mail or telephone application | 2 | $134,000 | $67,000 | $96,000 | $35,000 | $36,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 9,446 | $936,837,000 | $137,105 | $1,000,000 | $75,631 | $960,000 |
| FHA-insured (Federal Housing Administration) | 150 | $13,990,000 | $115,750 | $157,000 | $44,500 | $97,000 |
| VA-guaranteed (Veterans Administration) | 113 | $12,923,000 | $103,500 | $245,000 | $26,000 | $179,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 26 | $2,611,000 | $129,000 | $240,000 | $64,666 | $148,000 |
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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 3,262 | $275,768,000 | $105,266 | $775,000 | $65,866 | $720,000 |
| Loan Originated | 2,890 | $317,099,000 | $147,285 | $700,000 | $96,857 | $840,000 |
| Application Withdrawn By Applicant | 2,715 | $282,806,000 | $152,785 | $960,000 | $101,000 | $960,000 |
| File Closed For Incompleteness | 676 | $69,889,000 | $124,125 | $1,000,000 | $55,625 | $792,000 |
| Application Approved But Not Accepted | 192 | $20,799,000 | $154,000 | $417,000 | $63,600 | $300,000 |
| Loan Purchased By The Institution | 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 | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into 1st Choice Mortgage/Equity Cor's 2003 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess 1st Choice Mortgage/Equity Cor's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in South Carolina, download the full spreadsheet
with aggregated HMDA statistics today.
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