Alta Financial Corporation Mortgage Lending & HMDA Data, 2006
In 2006, Alta Financial Corporation of Atlanta, GA reported 945 mortgage applications totaling $128.4 million, up 212% from 2005. The average application was for $135,921, and applicants reported an average income of $71,400. 18% of its applications resulted in an originated loan and 30% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (4), Orlando-Kissimmee, FL (2) and Greenville, SC (1) (applications in parentheses).
| Mortgage Company & Address | Alta Financial Corporation 2727 Paces Ferry Rd, Bldg 1 - Suite 1800 Atlanta, GA 30339 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 |
| Total Number of Mortgage Applications | 945 |
| Total Mortgage Loan Application Amount | $128,446,000 |
| Average Mortgage Loan Application Amount | $135,921 |
| Highest Mortgage Loan Application Amount | $904,000 |
| Average Applicant Income | $71,400 |
| Highest Applicant Income | $1,512,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Alta Financial Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Alta Financial Corporation in 2006
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 | 679 | $89,671,000 | $132,000 | $904,000 | $72,000 | $1,512,000 |
| Refinancing | 265 | $38,698,000 | $146,000 | $721,000 | $70,000 | $1,200,000 |
| Home Improvement | 1 | $77,000 | $77,000 | $77,000 | $35,000 | $35,000 |
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 | 585 | $81,698,000 | $139,000 | $721,000 | $74,000 | $1,512,000 |
| Black or African American | 172 | $20,273,000 | $117,000 | $467,000 | $62,000 | $1,200,000 |
| Hispanic | 141 | $19,878,000 | $140,000 | $904,000 | $73,000 | $998,000 |
| Asian | 24 | $3,323,000 | $138,000 | $432,000 | $73,000 | $229,000 |
| Not Provided | 11 | $1,884,000 | $171,000 | $368,000 | $64,000 | $144,000 |
| American Indian or Alaskan Native | 9 | $935,000 | $103,000 | $200,000 | $51,000 | $115,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $455,000 | $151,000 | $189,000 | $92,000 | $143,000 |
| 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) | 836 | $114,958,000 | $137,000 | $904,000 | $75,000 | $1,512,000 |
| FHA-insured (Federal Housing Administration) | 72 | $8,004,000 | $111,000 | $210,000 | $37,000 | $89,000 |
| VA-guaranteed (Veterans Administration) | 37 | $5,484,000 | $148,000 | $231,000 | $52,000 | $85,000 |
| 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 Approved But Not Accepted | 472 | $70,309,000 | $148,000 | $721,000 | $81,000 | $1,512,000 |
| Application Denied By Financial Institution | 280 | $32,801,000 | $117,000 | $904,000 | $56,000 | $360,000 |
| Loan Originated | 169 | $22,481,000 | $133,000 | $320,000 | $71,000 | $929,000 |
| File Closed For Incompleteness | 17 | $1,953,000 | $114,000 | $240,000 | $68,000 | $360,000 |
| Application Withdrawn By Applicant | 7 | $902,000 | $128,000 | $238,000 | $62,000 | $125,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 104 | $12,756,000 | $122,000 | $904,000 | $53,000 | $360,000 |
| Other | 37 | $3,811,000 | $103,000 | $230,000 | $58,000 | $204,000 |
| Collateral | 36 | $3,920,000 | $108,000 | $370,000 | $71,000 | $229,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 27 | $3,014,000 | $111,000 | $235,000 | $45,000 | $85,000 |
| Employment History | 24 | $3,026,000 | $126,000 | $392,000 | $55,000 | $128,000 |
| Debt-To-Income Ratio | 22 | $2,505,000 | $113,000 | $203,000 | $43,000 | $104,000 |
| Unverifiable Information | 16 | $1,845,000 | $115,000 | $219,000 | $48,000 | $125,000 |
| Credit Application Incomplete | 6 | $840,000 | $140,000 | $250,000 | $97,000 | $336,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Alta Financial Corporation's 2006 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 Alta Financial Corporation'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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