Ameritrust Mortgage Bankers Mortgage Lending & HMDA Data, 2004
In 2004, Ameritrust Mortgage Bankers of Lake Success, NY reported 1,125 mortgage applications totaling $282.2 million, down 2% from 2003. The average application was for $250,824, and applicants reported an average income of $60,481. 52% of its applications resulted in an originated loan and 7% were denied. Its largest markets were New York-Wayne-White Plains, NY-NJ (672), Nassau-Suffolk, NY (187) and Newark-Union, NJ-PA (11) (applications in parentheses).
| Mortgage Company & Address | Ameritrust Mortgage Bankers 1981 Marcus Ave Ste-C129 Lake Success, NY 11003 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,125 |
| Total Mortgage Loan Application Amount | $282,177,000 |
| Average Mortgage Loan Application Amount | $250,824 |
| Highest Mortgage Loan Application Amount | $1,125,000 |
| Average Applicant Income | $60,481 |
| Highest Applicant Income | $1,973,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Ameritrust Mortgage Bankers filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Ameritrust Mortgage Bankers 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 | 1,125 | $282,177,000 | $290,333 | $1,125,000 | $132,166 | $1,973,000 |
| Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Black or African American | 392 | $93,944,000 | $211,000 | $994,000 | $24,500 | $294,000 |
| Hispanic | 304 | $72,894,000 | $241,250 | $880,000 | $40,250 | $274,000 |
| Asian | 162 | $41,350,000 | $271,333 | $620,000 | $39,000 | $204,000 |
| White | 142 | $39,966,000 | $338,250 | $999,000 | $218,500 | $1,973,000 |
| Not Provided | 116 | $31,976,000 | $275,000 | $1,125,000 | $81,000 | $1,973,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $1,444,000 | $206,000 | $408,000 | $7,000 | $70,000 |
| American Indian or Alaskan Native | 2 | $603,000 | $301,000 | $536,000 | $240,000 | $240,000 |
| 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) | 1,047 | $259,911,000 | $291,000 | $1,125,000 | $126,500 | $1,973,000 |
| FHA-insured (Federal Housing Administration) | 78 | $22,266,000 | $235,000 | $552,000 | $65,000 | $176,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 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 | 589 | $149,303,000 | $296,666 | $1,125,000 | $131,666 | $1,973,000 |
| Application Withdrawn By Applicant | 310 | $77,696,000 | $235,250 | $960,000 | $42,000 | $633,000 |
| Application Approved But Not Accepted | 131 | $31,565,000 | $258,500 | $880,000 | $77,000 | $1,973,000 |
| Application Denied By Financial Institution | 83 | $21,133,000 | $228,500 | $614,000 | $33,000 | $204,000 |
| File Closed For Incompleteness | 12 | $2,480,000 | $206,000 | $500,000 | $82,000 | $278,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 40 | $10,432,000 | $215,500 | $614,000 | $12,500 | $123,000 |
| Credit History | 14 | $3,025,000 | $179,000 | $595,000 | $64,000 | $134,000 |
| Other | 7 | $2,031,000 | $290,000 | $451,000 | $76,000 | $106,000 |
| Debt-To-Income Ratio | 6 | $1,551,000 | $258,000 | $410,000 | $61,000 | $89,000 |
| Credit Application Incomplete | 2 | $470,000 | $235,000 | $396,000 | $102,000 | $102,000 |
| Unverifiable Information | 2 | $326,000 | $163,000 | $294,000 | $92,000 | $101,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $904,000 | $452,000 | $570,000 | $102,000 | $204,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Ameritrust Mortgage Bankers'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 Ameritrust Mortgage Bankers'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 New York, download the full spreadsheet
with aggregated HMDA statistics today.
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