Embrace Home Loans, Inc. Mortgage Lending & HMDA Data, 2022
In 2022, Embrace Home Loans, Inc. of Middletown, RI reported 22,411 mortgage applications totaling $7.7 billion, down 36% from 2021. The average application was for $342,083, and applicants reported an average income of $128,761. 41% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (2,140), Nassau County-Suffolk County, NY (1,644) and Baltimore-Columbia-Towson, MD (677) (applications in parentheses).
| Mortgage Company & Address | Embrace Home Loans, Inc. 25 Enterprise Center Middletown, RI 02842 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 22,411 |
| Total Mortgage Loan Application Amount | $7,666,425,000 |
| Average Mortgage Loan Application Amount | $342,083 |
| Highest Mortgage Loan Application Amount | $3,425,000 |
| Average Applicant Income | $128,761 |
| Highest Applicant Income | $9,060,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Embrace Home Loans, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Embrace Home Loans, Inc. in 2022
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 | 10,772 | $4,299,430,000 | $399,000 | $3,005,000 | $146,000 | $4,830,000 |
| Cash-out Refinancing | 8,570 | $2,496,520,000 | $291,000 | $3,425,000 | $108,000 | $4,800,000 |
| Refinancing | 2,715 | $783,955,000 | $288,000 | $2,325,000 | $120,000 | $3,960,000 |
| Other Purpose | 179 | $48,655,000 | $271,000 | $1,555,000 | $173,000 | $5,331,000 |
| Home Improvement | 175 | $37,865,000 | $216,000 | $1,125,000 | $175,000 | $9,060,000 |
| Not Applicable | 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 | 12,867 | $4,363,665,000 | $339,000 | $3,425,000 | $134,000 | $5,331,000 |
| Black or African American | 3,178 | $955,060,000 | $300,000 | $1,505,000 | $97,000 | $1,819,000 |
| Not Provided | 3,138 | $1,161,670,000 | $370,000 | $3,005,000 | $144,000 | $9,060,000 |
| Hispanic | 2,066 | $653,660,000 | $316,000 | $1,865,000 | $105,000 | $3,859,000 |
| Asian | 1,043 | $490,195,000 | $469,000 | $2,065,000 | $164,000 | $2,202,000 |
| American Indian or Alaskan Native | 45 | $13,275,000 | $295,000 | $905,000 | $99,000 | $452,000 |
| Native Hawaiian or Other Pacific Islander | 21 | $7,935,000 | $377,000 | $1,085,000 | $104,000 | $275,000 |
| Not applicable | 18 | $6,680,000 | $371,000 | $765,000 | $125,000 | $540,000 |
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) | 14,653 | $5,437,725,000 | $371,000 | $3,425,000 | $148,000 | $9,060,000 |
| FHA-insured (Federal Housing Administration) | 6,035 | $1,578,825,000 | $261,000 | $1,285,000 | $87,000 | $4,830,000 |
| VA-guaranteed (Veterans Administration) | 1,502 | $604,710,000 | $402,000 | $1,965,000 | $117,000 | $1,400,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 221 | $45,165,000 | $204,000 | $435,000 | $60,000 | $146,000 |
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 | 9,249 | $3,605,855,000 | $389,000 | $3,005,000 | $144,000 | $5,331,000 |
| File Closed For Incompleteness | 4,116 | $1,238,160,000 | $300,000 | $2,875,000 | $121,000 | $3,960,000 |
| Application Denied By Financial Institution | 3,983 | $1,105,195,000 | $277,000 | $3,425,000 | $97,000 | $9,060,000 |
| Application Withdrawn By Applicant | 2,130 | $710,070,000 | $333,000 | $2,275,000 | $143,000 | $4,800,000 |
| Application Approved But Not Accepted | 1,197 | $445,485,000 | $372,000 | $2,285,000 | $142,000 | $2,652,000 |
| Preapproval Denied by Financial Institution | 987 | $259,535,000 | $262,000 | $1,415,000 | $97,000 | $4,830,000 |
| Preapproval Approved but not Accepted | 592 | $247,510,000 | $418,000 | $1,815,000 | $130,000 | $1,442,000 |
| Loan Purchased By The Institution | 157 | $54,615,000 | $347,000 | $905,000 | $130,000 | $614,000 |
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 |
|---|---|---|---|---|---|---|
| Not applicable | 17,441 | $6,301,695,000 | $361,000 | $3,005,000 | $138,000 | $5,331,000 |
| Credit History | 2,172 | $534,440,000 | $246,000 | $2,505,000 | $117,000 | $9,060,000 |
| Debt-To-Income Ratio | 1,834 | $538,280,000 | $293,000 | $2,005,000 | $62,000 | $1,008,000 |
| Collateral | 419 | $120,075,000 | $286,000 | $1,365,000 | $126,000 | $4,680,000 |
| Other | 165 | $38,785,000 | $235,000 | $1,325,000 | $82,000 | $721,000 |
| Unverifiable Information | 149 | $57,445,000 | $385,000 | $3,425,000 | $139,000 | $1,440,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 118 | $38,300,000 | $324,000 | $2,065,000 | $115,000 | $803,000 |
| Employment History | 68 | $18,460,000 | $271,000 | $695,000 | $98,000 | $1,490,000 |
| Credit Application Incomplete | 45 | $18,945,000 | $421,000 | $1,215,000 | $148,000 | $441,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Embrace Home Loans, Inc.'s 2022 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 Embrace Home Loans, 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.
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