Ark-La-Tex Financial Services Mortgage Lending & HMDA Data, 2008
In 2008, Ark-La-Tex Financial Services of Plano, TX reported 4,156 mortgage applications totaling $776.4 million, down 4% from 2007. The average application was for $186,820, and applicants reported an average income of $79,898. 57% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Dallas-Plano-Irving, TX (361), Fort Worth-Arlington, TX (158) and Tacoma, WA (140) (applications in parentheses).
| Mortgage Company & Address | Ark-La-Tex Financial Services 5160 Tennyson Pkwy, Suite 2000w Plano, TX 75024 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 4,156 |
| Total Mortgage Loan Application Amount | $776,424,000 |
| Average Mortgage Loan Application Amount | $186,820 |
| Highest Mortgage Loan Application Amount | $1,854,000 |
| Average Applicant Income | $79,898 |
| Highest Applicant Income | $1,176,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Ark-La-Tex Financial Services filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Ark-La-Tex Financial Services 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 2,183 | $390,551,000 | $178,000 | $829,000 | $78,000 | $1,176,000 |
| Refinancing | 1,973 | $385,873,000 | $195,000 | $1,854,000 | $82,000 | $1,080,000 |
| 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 | 2,554 | $476,917,000 | $186,000 | $1,650,000 | $84,000 | $1,176,000 |
| Not Provided | 705 | $143,740,000 | $203,000 | $1,854,000 | $79,000 | $1,077,000 |
| Hispanic | 452 | $79,039,000 | $174,000 | $740,000 | $65,000 | $327,000 |
| Black or African American | 336 | $55,029,000 | $163,000 | $560,000 | $67,000 | $615,000 |
| Asian | 90 | $17,449,000 | $193,000 | $534,000 | $84,000 | $387,000 |
| Native Hawaiian or Other Pacific Islander | 12 | $3,221,000 | $268,000 | $420,000 | $83,000 | $160,000 |
| American Indian or Alaskan Native | 7 | $1,029,000 | $147,000 | $230,000 | $97,000 | $173,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 2,048 | $339,011,000 | $165,000 | $350,000 | $65,000 | $886,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,767 | $372,053,000 | $210,000 | $1,854,000 | $98,000 | $1,176,000 |
| VA-guaranteed (Veterans Administration) | 336 | $64,782,000 | $192,000 | $347,000 | $68,000 | $280,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $578,000 | $115,000 | $130,000 | $41,000 | $44,000 |
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 | 2,362 | $432,367,000 | $183,000 | $1,650,000 | $78,000 | $1,080,000 |
| Application Denied By Financial Institution | 599 | $115,739,000 | $193,000 | $822,000 | $77,000 | $384,000 |
| Application Withdrawn By Applicant | 478 | $95,708,000 | $200,000 | $1,854,000 | $80,000 | $1,077,000 |
| Application Approved But Not Accepted | 454 | $85,247,000 | $187,000 | $730,000 | $81,000 | $615,000 |
| File Closed For Incompleteness | 263 | $47,363,000 | $180,000 | $740,000 | $93,000 | $1,176,000 |
| 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 | 92 | $14,125,000 | $153,000 | $423,000 | $60,000 | $178,000 |
| Debt-To-Income Ratio | 90 | $18,065,000 | $200,000 | $560,000 | $56,000 | $350,000 |
| Collateral | 59 | $13,486,000 | $228,000 | $822,000 | $96,000 | $336,000 |
| Other | 50 | $10,033,000 | $200,000 | $584,000 | $97,000 | $288,000 |
| Unverifiable Information | 30 | $6,799,000 | $226,000 | $555,000 | $106,000 | $384,000 |
| Employment History | 15 | $2,636,000 | $175,000 | $417,000 | $64,000 | $120,000 |
| Credit Application Incomplete | 4 | $424,000 | $106,000 | $168,000 | $48,000 | $81,000 |
| Mortgage Insurance Denied | 4 | $608,000 | $152,000 | $318,000 | $50,000 | $77,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $634,000 | $317,000 | $339,000 | $123,000 | $124,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Ark-La-Tex Financial Services'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 Ark-La-Tex Financial Services'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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