American Residential Mortgage Mortgage Lending & HMDA Data, 2004
In 2004, American Residential Mortgage of Cabot, AR reported 362 mortgage applications totaling $38.1 million, up 148% from 2003. The average application was for $105,383, and applicants reported an average income of $54,419. 30% of its applications resulted in an originated loan and 32% were denied. Its largest markets were Little Rock-North Little Rock, AR (162) and Hot Springs, AR (4).
| Mortgage Company & Address | American Residential Mortgage 802 N. 2nd Street, Suite A Cabot, AR 72023 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 362 |
| Total Mortgage Loan Application Amount | $38,149,000 |
| Average Mortgage Loan Application Amount | $105,383 |
| Highest Mortgage Loan Application Amount | $900,000 |
| Average Applicant Income | $54,419 |
| Highest Applicant Income | $282,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records American Residential Mortgage filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 American Residential Mortgage in 2004
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 | 282 | $28,760,000 | $101,000 | $330,000 | $50,000 | $276,000 |
| Refinancing | 80 | $9,389,000 | $117,000 | $900,000 | $70,000 | $282,000 |
| 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 | 276 | $29,801,000 | $107,000 | $900,000 | $59,000 | $282,000 |
| Not Provided | 63 | $6,183,000 | $98,000 | $315,000 | $48,000 | $116,000 |
| Black or African American | 21 | $1,951,000 | $92,000 | $165,000 | $51,000 | $90,000 |
| Hispanic | 2 | $214,000 | $107,000 | $127,000 | $69,000 | $112,000 |
| 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 |
| Asian | 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) | 317 | $33,498,000 | $105,000 | $900,000 | $58,000 | $282,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 22 | $1,981,000 | $90,000 | $140,000 | $36,000 | $58,000 |
| VA-guaranteed (Veterans Administration) | 22 | $2,528,000 | $114,000 | $184,000 | $57,000 | $112,000 |
| FHA-insured (Federal Housing Administration) | 1 | $142,000 | $142,000 | $142,000 | $65,000 | $65,000 |
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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 117 | $11,792,000 | $100,000 | $900,000 | $53,000 | $282,000 |
| Application Withdrawn By Applicant | 115 | $12,790,000 | $111,000 | $330,000 | $60,000 | $276,000 |
| Loan Originated | 107 | $10,893,000 | $101,000 | $296,000 | $59,000 | $170,000 |
| File Closed For Incompleteness | 22 | $2,584,000 | $117,000 | $360,000 | $51,000 | $126,000 |
| Application Approved But Not Accepted | 1 | $90,000 | $90,000 | $90,000 | $56,000 | $56,000 |
| 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 | 49 | $4,086,000 | $83,000 | $165,000 | $48,000 | $120,000 |
| Other | 29 | $3,498,000 | $120,000 | $900,000 | $63,000 | $282,000 |
| Employment History | 8 | $559,000 | $69,000 | $100,000 | $40,000 | $72,000 |
| Collateral | 7 | $1,277,000 | $182,000 | $314,000 | $81,000 | $200,000 |
| Credit Application Incomplete | 5 | $620,000 | $124,000 | $168,000 | $49,000 | $78,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $295,000 | $73,000 | $105,000 | $29,000 | $46,000 |
| Debt-To-Income Ratio | 3 | $250,000 | $83,000 | $121,000 | $39,000 | $85,000 |
| Mortgage Insurance Denied | 2 | $121,000 | $60,000 | $80,000 | $71,000 | $110,000 |
| Unverifiable Information | 2 | $165,000 | $82,000 | $85,000 | $42,000 | $50,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into American Residential Mortgage's 2004 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 American Residential Mortgage'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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