Advance Mortgage & Investment Mortgage Lending & HMDA Data, 2010
In 2010, Advance Mortgage & Investment of Spanish Fort, AL reported 287 mortgage applications totaling $47.1 million. The average application was for $164,125, and applicants reported an average income of $46,222. 0% of its applications resulted in an originated loan and 100% were denied. Its largest markets were New Orleans-Metairie-Kenner, LA (54), Birmingham-Hoover, AL (40) and Mobile, AL (29) (applications in parentheses).
| Mortgage Company & Address | Advance Mortgage & Investment 30500 State Hwy 181, Ste 460 Spanish Fort, AL 36527 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 |
| Total Number of Mortgage Applications | 287 |
| Total Mortgage Loan Application Amount | $47,104,000 |
| Average Mortgage Loan Application Amount | $164,125 |
| Highest Mortgage Loan Application Amount | $900,000 |
| Average Applicant Income | $46,222 |
| Highest Applicant Income | $250,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Advance Mortgage & Investment filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Advance Mortgage & Investment in 2010
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 | 215 | $37,280,000 | $173,000 | $900,000 | $54,000 | $250,000 |
| Home Purchase | 72 | $9,824,000 | $136,000 | $417,000 | $23,000 | $108,000 |
| 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 | 226 | $36,281,000 | $160,000 | $483,000 | $48,000 | $250,000 |
| Black or African American | 53 | $8,323,000 | $157,000 | $534,000 | $35,000 | $131,000 |
| Asian | 4 | $1,529,000 | $382,000 | $900,000 | $67,000 | $145,000 |
| Hispanic | 3 | $654,000 | $218,000 | $265,000 | $79,000 | $140,000 |
| Not Provided | 1 | $317,000 | $317,000 | $317,000 | $75,000 | $75,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 213 | $35,732,000 | $167,000 | $900,000 | $45,000 | $250,000 |
| FHA-insured (Federal Housing Administration) | 72 | $10,918,000 | $151,000 | $317,000 | $50,000 | $200,000 |
| VA-guaranteed (Veterans Administration) | 2 | $454,000 | $227,000 | $349,000 | $39,000 | $64,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 287 | $47,104,000 | $164,000 | $900,000 | $46,000 | $250,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Originated | 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 |
| Application 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 |
|---|---|---|---|---|---|---|
| Credit History | 174 | $28,993,000 | $166,000 | $900,000 | $46,000 | $232,000 |
| Debt-To-Income Ratio | 82 | $13,746,000 | $167,000 | $483,000 | $46,000 | $250,000 |
| Employment History | 31 | $4,365,000 | $140,000 | $267,000 | $52,000 | $180,000 |
| 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 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Advance Mortgage & Investment's 2010 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 Advance Mortgage & Investment'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.
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with aggregated HMDA statistics today.
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