Absolute Lending, Inc Mortgage Lending & HMDA Data, 2007
In 2007, Absolute Lending, Inc of Denver, CO reported 46 mortgage applications totaling $7.4 million, down 28% from 2006. The average application was for $160,826, and applicants reported an average income of $46,434. 89% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Denver-Aurora, CO (44), Boulder, CO (1) and Greeley, CO (1) (applications in parentheses).
| Mortgage Company & Address | Absolute Lending, Inc 3101 West 38th Avenue Denver, CO 80211 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 46 |
| Total Mortgage Loan Application Amount | $7,398,000 |
| Average Mortgage Loan Application Amount | $160,826 |
| Highest Mortgage Loan Application Amount | $235,000 |
| Average Applicant Income | $46,434 |
| Highest Applicant Income | $106,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Absolute Lending, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Denver-Aurora, CO | 44 | $ 7,102,000 | $ 161,409 | $ 45,000 |
| Boulder, CO | 1 | $ 217,000 | $ 217,000 | $ 42,000 |
| Greeley, CO | 1 | $ 79,000 | $ 79,000 | $ 106,000 |
Mortgage Loan Application Detail Totals for Absolute Lending, Inc in 2007
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 33 | $5,000,000 | $151,000 | $235,000 | $47,000 | $106,000 |
| Refinancing | 13 | $2,398,000 | $184,000 | $227,000 | $45,000 | $77,000 |
| 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 |
|---|---|---|---|---|---|---|
| Hispanic | 35 | $5,476,000 | $156,000 | $225,000 | $42,000 | $75,000 |
| White | 8 | $1,437,000 | $179,000 | $235,000 | $63,000 | $106,000 |
| Not Provided | 1 | $200,000 | $200,000 | $200,000 | $77,000 | $77,000 |
| Asian | 1 | $95,000 | $95,000 | $95,000 | $26,000 | $26,000 |
| Black or African American | 1 | $190,000 | $190,000 | $190,000 | $55,000 | $55,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 43 | $6,818,000 | $158,000 | $235,000 | $46,000 | $106,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 3 | $580,000 | $193,000 | $225,000 | $54,000 | $61,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans 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 | 41 | $6,608,000 | $161,000 | $235,000 | $47,000 | $106,000 |
| Application Denied By Financial Institution | 5 | $790,000 | $158,000 | $225,000 | $44,000 | $63,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 2 | $359,000 | $179,000 | $225,000 | $43,000 | $61,000 |
| Credit History | 1 | $98,000 | $98,000 | $98,000 | $24,000 | $24,000 |
| Employment History | 1 | $121,000 | $121,000 | $121,000 | $47,000 | $47,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $212,000 | $212,000 | $212,000 | $63,000 | $63,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Absolute Lending, Inc's 2007 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 Absolute Lending, Inc'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 Colorado, download the full spreadsheet
with aggregated HMDA statistics today.
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