1st Medallion Mortgage Corp. Mortgage Lending & HMDA Data, 2009
In 2009, 1st Medallion Mortgage Corp. of Greensboro, NC reported 68 mortgage applications totaling $17.0 million, up 19% from 2008. The average application was for $249,735, and applicants reported an average income of $114,750. 66% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Durham-Chapel Hill, NC (27), Raleigh-Cary, NC (18) and Greensboro-High Point, NC (8) (applications in parentheses).
| Mortgage Company & Address | 1st Medallion Mortgage Corp. 202 Centreport Drive Suite 150 Greensboro, NC 27409 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 |
| Total Number of Mortgage Applications | 68 |
| Total Mortgage Loan Application Amount | $16,982,000 |
| Average Mortgage Loan Application Amount | $249,735 |
| Highest Mortgage Loan Application Amount | $856,000 |
| Average Applicant Income | $114,750 |
| Highest Applicant Income | $330,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records 1st Medallion Mortgage Corp. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Medallion Mortgage Corp. in 2009
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 | 51 | $13,512,000 | $264,000 | $856,000 | $114,000 | $330,000 |
| Home Purchase | 17 | $3,470,000 | $204,000 | $417,000 | $117,000 | $262,000 |
| Home Improvement | 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 | 59 | $15,033,000 | $254,000 | $856,000 | $119,000 | $330,000 |
| Asian | 4 | $1,073,000 | $268,000 | $386,000 | $113,000 | $147,000 |
| Black or African American | 3 | $489,000 | $163,000 | $244,000 | $74,000 | $107,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $220,000 | $220,000 | $220,000 | $78,000 | $78,000 |
| Not Provided | 1 | $167,000 | $167,000 | $167,000 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 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) | 67 | $16,839,000 | $251,000 | $856,000 | $116,000 | $330,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $143,000 | $143,000 | $143,000 | $36,000 | $36,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 45 | $11,305,000 | $251,000 | $417,000 | $120,000 | $277,000 |
| Application Withdrawn By Applicant | 12 | $2,934,000 | $244,000 | $856,000 | $90,000 | $262,000 |
| Application Denied By Financial Institution | 7 | $1,977,000 | $282,000 | $400,000 | $142,000 | $330,000 |
| File Closed For Incompleteness | 3 | $555,000 | $185,000 | $225,000 | $90,000 | $252,000 |
| Application Approved But Not Accepted | 1 | $211,000 | $211,000 | $211,000 | $32,000 | $32,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial 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 | 3 | $815,000 | $271,000 | $400,000 | $85,000 | $130,000 |
| Unverifiable Information | 1 | $278,000 | $278,000 | $278,000 | $237,000 | $237,000 |
| Debt-To-Income Ratio | 1 | $350,000 | $350,000 | $350,000 | $330,000 | $330,000 |
| Employment History | 1 | $148,000 | $148,000 | $148,000 | $50,000 | $50,000 |
| 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 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into 1st Medallion Mortgage Corp.'s 2009 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 Medallion Mortgage Corp.'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 North Carolina, download the full spreadsheet
with aggregated HMDA statistics today.
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