Americanmtgnetwork dba Vertice Mortgage Lending & HMDA Data, 2008
In 2008, Americanmtgnetwork dba Vertice of Winston-Salem, NC reported 52,977 mortgage applications totaling $12.5 billion, down 36% from 2007. The average application was for $235,546, and applicants reported an average income of $94,800. 56% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Denver-Aurora, CO (2,989), Los Angeles-Long Beach-Glendale, CA (2,194) and Seattle-Bellevue-Everett, WA (1,903) (applications in parentheses).
| Mortgage Company & Address | Americanmtgnetwork dba Vertice Tonya Young 100 N Main St Mac D4001-063 Winston-Salem, NC 27101 |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 |
| Total Number of Mortgage Applications | 52,977 |
| Total Mortgage Loan Application Amount | $12,478,572,000 |
| Average Mortgage Loan Application Amount | $235,546 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $94,800 |
| Highest Applicant Income | $8,142,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Americanmtgnetwork dba Vertice filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Americanmtgnetwork dba Vertice in 2008
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 | 31,778 | $7,564,088,000 | $238,000 | $2,000,000 | $92,000 | $6,624,000 |
| Home Purchase | 21,193 | $4,912,843,000 | $231,000 | $1,880,000 | $99,000 | $8,142,000 |
| Home Improvement | 6 | $1,641,000 | $273,000 | $510,000 | $94,000 | $189,000 |
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 | 35,844 | $8,315,496,000 | $231,000 | $2,000,000 | $98,000 | $6,341,000 |
| Hispanic | 5,972 | $1,421,693,000 | $238,000 | $1,500,000 | $77,000 | $915,000 |
| Black or African American | 4,056 | $880,979,000 | $217,000 | $1,439,000 | $76,000 | $6,624,000 |
| Not Provided | 3,894 | $967,504,000 | $248,000 | $1,495,000 | $107,000 | $8,142,000 |
| Asian | 2,795 | $781,866,000 | $279,000 | $1,306,000 | $105,000 | $1,307,000 |
| Native Hawaiian or Other Pacific Islander | 240 | $63,813,000 | $265,000 | $870,000 | $126,000 | $6,974,000 |
| American Indian or Alaskan Native | 144 | $36,712,000 | $254,000 | $1,125,000 | $109,000 | $912,000 |
| Not applicable | 32 | $10,509,000 | $328,000 | $1,048,000 | $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) | 41,164 | $9,940,478,000 | $241,000 | $2,000,000 | $104,000 | $8,142,000 |
| FHA-insured (Federal Housing Administration) | 9,602 | $2,037,192,000 | $212,000 | $741,000 | $64,000 | $6,624,000 |
| VA-guaranteed (Veterans Administration) | 2,211 | $500,902,000 | $226,000 | $418,000 | $58,000 | $734,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 29,927 | $6,805,932,000 | $227,000 | $1,880,000 | $93,000 | $8,142,000 |
| Application Approved But Not Accepted | 11,272 | $2,824,926,000 | $250,000 | $1,500,000 | $100,000 | $6,341,000 |
| Application Denied By Financial Institution | 9,032 | $2,168,435,000 | $240,000 | $2,000,000 | $97,000 | $6,974,000 |
| Application Withdrawn By Applicant | 1,478 | $367,724,000 | $248,000 | $1,200,000 | $98,000 | $5,580,000 |
| File Closed For Incompleteness | 1,236 | $301,046,000 | $243,000 | $1,745,000 | $92,000 | $2,208,000 |
| Loan Purchased By The Institution | 32 | $10,509,000 | $328,000 | $1,048,000 | $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 |
|---|---|---|---|---|---|---|
| Other | 2,610 | $635,836,000 | $243,000 | $1,500,000 | $113,000 | $5,647,000 |
| Debt-To-Income Ratio | 2,184 | $546,277,000 | $250,000 | $1,800,000 | $74,000 | $810,000 |
| Collateral | 1,635 | $390,217,000 | $238,000 | $1,215,000 | $119,000 | $6,974,000 |
| Credit History | 1,366 | $294,168,000 | $215,000 | $2,000,000 | $78,000 | $6,624,000 |
| Unverifiable Information | 802 | $202,443,000 | $252,000 | $998,000 | $103,000 | $1,200,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 162 | $35,992,000 | $222,000 | $650,000 | $82,000 | $400,000 |
| Employment History | 158 | $38,047,000 | $240,000 | $895,000 | $83,000 | $543,000 |
| Mortgage Insurance Denied | 115 | $25,455,000 | $221,000 | $712,000 | $83,000 | $245,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Americanmtgnetwork dba Vertice's 2008 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 Americanmtgnetwork dba Vertice'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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