Assurafirst Financial Company Mortgage Lending & HMDA Data, 2005
In 2005, Assurafirst Financial Company of Southfield, MI reported 3,838 mortgage applications totaling $514.7 million. The average application was for $134,105, and applicants reported an average income of $60,508. 57% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Warren-Farmington Hills-Troy, MI (725), Indianapolis, IN (407) and Detroit-Livonia-Dearborn, MI (235) (applications in parentheses).
| Mortgage Company & Address | Assurafirst Financial Company 26400 Lahser Road Suite 444 Southfield, MI 48034 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 |
| Total Number of Mortgage Applications | 3,838 |
| Total Mortgage Loan Application Amount | $514,697,000 |
| Average Mortgage Loan Application Amount | $134,105 |
| Highest Mortgage Loan Application Amount | $935,000 |
| Average Applicant Income | $60,508 |
| Highest Applicant Income | $791,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Assurafirst Financial Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Warren-Farmington Hills-Troy, MI | 725 | $ 114,281,000 | $ 157,628 | $ 68,000 |
| Indianapolis, IN | 407 | $ 47,330,000 | $ 116,289 | $ 60,000 |
| Detroit-Livonia-Dearborn, MI | 235 | $ 31,607,000 | $ 134,497 | $ 57,000 |
| Killeen-Temple-Fort Hood, TX | 212 | $ 23,629,000 | $ 111,457 | $ 52,000 |
| Green Bay, WI | 198 | $ 23,908,000 | $ 120,747 | $ 54,000 |
| Gary, IN | 132 | $ 16,950,000 | $ 128,409 | $ 58,000 |
| Saginaw-Saginaw Township North, MI | 131 | $ 12,349,000 | $ 94,267 | $ 52,000 |
| Phoenix-Mesa-Scottsdale, AZ | 128 | $ 22,559,000 | $ 176,242 | $ 74,000 |
| Akron, OH | 127 | $ 15,000,000 | $ 118,110 | $ 56,000 |
| Anchorage, AK | 125 | $ 22,939,000 | $ 183,512 | $ 80,000 |
| Muncie, IN | 119 | $ 9,433,000 | $ 79,268 | $ 59,000 |
| Flint, MI | 99 | $ 12,348,000 | $ 124,727 | $ 49,000 |
| Lansing-East Lansing, MI | 93 | $ 14,592,000 | $ 156,903 | $ 85,000 |
| Ann Arbor, MI | 73 | $ 12,923,000 | $ 177,027 | $ 72,000 |
| Fort Wayne, IN | 54 | $ 5,668,000 | $ 104,962 | $ 44,000 |
| Kalamazoo-Portage, MI | 49 | $ 6,302,000 | $ 128,612 | $ 60,000 |
| Anderson, IN | 24 | $ 2,840,000 | $ 118,333 | $ 53,000 |
| Grand Rapids-Wyoming, MI | 24 | $ 3,575,000 | $ 148,958 | $ 68,000 |
| Dayton, OH | 22 | $ 2,625,000 | $ 119,318 | $ 46,000 |
| South Bend-Mishawaka, IN-MI | 22 | $ 2,030,000 | $ 92,272 | $ 72,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 19 | $ 4,215,000 | $ 221,842 | $ 73,000 |
| Niles-Benton Harbor, MI | 18 | $ 2,146,000 | $ 119,222 | $ 46,000 |
| Bay City, MI | 16 | $ 2,028,000 | $ 126,750 | $ 50,000 |
| Monroe, MI | 16 | $ 1,826,000 | $ 114,125 | $ 37,000 |
| Appleton, WI | 15 | $ 1,685,000 | $ 112,333 | $ 66,000 |
| Jackson, MI | 12 | $ 1,537,000 | $ 128,083 | $ 65,000 |
| Battle Creek, MI | 11 | $ 1,513,000 | $ 137,545 | $ 58,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 8 | $ 1,804,000 | $ 225,500 | $ 81,000 |
| Holland-Grand Haven, MI | 8 | $ 1,177,000 | $ 147,125 | $ 97,000 |
| Cleveland-Elyria-Mentor, OH | 6 | $ 724,000 | $ 120,666 | $ 45,000 |
| Bloomington, IN | 5 | $ 876,000 | $ 175,200 | $ 67,000 |
| Cape Coral-Fort Myers, FL | 5 | $ 1,158,000 | $ 231,600 | $ 126,000 |
| Boise City-Nampa, ID | 4 | $ 715,000 | $ 178,750 | $ 93,000 |
| Elkhart-Goshen, IN | 4 | $ 250,000 | $ 62,500 | $ 55,000 |
| Canton-Massillon, OH | 3 | $ 302,000 | $ 100,666 | $ 45,000 |
| Denver-Aurora, CO | 3 | $ 371,000 | $ 123,666 | $ 89,000 |
| Jacksonville, FL | 3 | $ 373,000 | $ 124,333 | $ 47,000 |
| Las Vegas-Paradise, NV | 3 | $ 877,000 | $ 292,333 | $ 76,000 |
| Madison, WI | 3 | $ 292,000 | $ 97,333 | $ 83,000 |
| Michigan City-La Porte, IN | 3 | $ 181,000 | $ 60,333 | $ 51,000 |
| Nassau-Suffolk, NY | 3 | $ 872,000 | $ 290,666 | $ 141,000 |
| Prescott, AZ | 3 | $ 648,000 | $ 216,000 | $ 82,000 |
| Tampa-St. Petersburg-Clearwater, FL | 3 | $ 564,000 | $ 188,000 | $ 88,000 |
| Toledo, OH | 3 | $ 222,000 | $ 74,000 | $ 48,000 |
| Baltimore-Towson, MD | 2 | $ 459,000 | $ 229,500 | $ 97,000 |
| Chicago-Naperville-Joliet, IL | 2 | $ 422,000 | $ 211,000 | $ 66,000 |
| Coeur D'Alene, ID | 2 | $ 500,000 | $ 250,000 | $ 139,000 |
| Mansfield, OH | 2 | $ 179,000 | $ 89,500 | $ 25,000 |
| McAllen-Edinburg-Pharr, TX | 2 | $ 205,000 | $ 102,500 | $ 86,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 2 | $ 486,000 | $ 243,000 | $ 57,000 |
| Nashville-Davidson--Murfreesboro, TN | 2 | $ 412,000 | $ 206,000 | $ 138,000 |
| Oshkosh-Neenah, WI | 2 | $ 213,000 | $ 106,500 | $ 121,000 |
| Port St. Lucie-Fort Pierce, FL | 2 | $ 212,000 | $ 106,000 | $ 43,000 |
| Portland-Vancouver-Beaverton, OR-WA | 2 | $ 327,000 | $ 163,500 | $ 62,000 |
| Reno-Sparks, NV | 2 | $ 600,000 | $ 300,000 | $ 46,000 |
| Rockford, IL | 2 | $ 110,000 | $ 55,000 | $ 30,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 2 | $ 354,000 | $ 177,000 | $ 45,000 |
| Salt Lake City, UT | 2 | $ 496,000 | $ 248,000 | $ 90,000 |
| Seattle-Bellevue-Everett, WA | 2 | $ 417,000 | $ 208,500 | $ 81,000 |
| Boston-Quincy, MA | 1 | $ 220,000 | $ 220,000 | $ 70,000 |
| Cambridge-Newton-Framingham, MA | 1 | $ 500,000 | $ 500,000 | $ 358,000 |
| Clarksville, TN-KY | 1 | $ 209,000 | $ 209,000 | $ 71,000 |
| Cleveland, TN | 1 | $ 200,000 | $ 200,000 | $ 60,000 |
| Dallas-Plano-Irving, TX | 1 | $ 153,000 | $ 153,000 | $ 47,000 |
| Danville, IL | 1 | $ 20,000 | $ 20,000 | $ 51,000 |
| Dothan, AL | 1 | $ 194,000 | $ 194,000 | $ 48,000 |
| Durham, NC | 1 | $ 169,000 | $ 169,000 | $ 53,000 |
| Fairbanks, AK | 1 | $ 228,000 | $ 228,000 | $ 106,000 |
| Harrisburg-Carlisle, PA | 1 | $ 207,000 | $ 207,000 | $ 75,000 |
| Houston-Baytown-Sugar Land, TX | 1 | $ 25,000 | $ 25,000 | $ 50,000 |
| Jackson, TN | 1 | $ 141,000 | $ 141,000 | $ 66,000 |
| Lafayette, IN | 1 | $ 151,000 | $ 151,000 | $ 50,000 |
| Lake County-Kenosha County, IL-WI | 1 | $ 250,000 | $ 250,000 | $ 86,000 |
| Louisville, KY-IN | 1 | $ 140,000 | $ 140,000 | $ 62,000 |
| Muskegon-Norton Shores, MI | 1 | $ 175,000 | $ 175,000 | $ 50,000 |
| New Orleans-Metairie-Kenner, LA | 1 | $ 108,000 | $ 108,000 | $ 69,000 |
| Ogden-Clearfield, UT | 1 | $ 201,000 | $ 201,000 | $ 48,000 |
| Palm Bay-Melbourne-Titusville, FL | 1 | $ 112,000 | $ 112,000 | $ 126,000 |
| Punta Gorda, FL | 1 | $ 163,000 | $ 163,000 | $ 55,000 |
| Raleigh-Cary, NC | 1 | $ 110,000 | $ 110,000 | $ 36,000 |
| Sarasota-Bradenton-Venice, FL | 1 | $ 194,000 | $ 194,000 | $ 145,000 |
| Sheboygan, WI | 1 | $ 113,000 | $ 113,000 | $ 0 |
| Springfield, OH | 1 | $ 69,000 | $ 69,000 | $ 44,000 |
| Terre Haute, IN | 1 | $ 96,000 | $ 96,000 | $ 38,000 |
| Youngstown-Warren-Boardman, OH-PA | 1 | $ 131,000 | $ 131,000 | $ 36,000 |
| Yuma, AZ | 1 | $ 340,000 | $ 340,000 | $ 50,000 |
Mortgage Loan Application Detail Totals for Assurafirst Financial Company in 2005
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 | 2,435 | $309,620,000 | $167,095 | $750,000 | $73,619 | $458,000 |
| Refinancing | 1,302 | $201,263,000 | $200,920 | $935,000 | $70,840 | $791,000 |
| Home Improvement | 101 | $3,814,000 | $46,111 | $200,000 | $95,777 | $253,000 |
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 | 3,339 | $450,939,000 | $189,185 | $935,000 | $77,148 | $791,000 |
| Black or African American | 200 | $23,260,000 | $150,636 | $350,000 | $63,090 | $253,000 |
| Hispanic | 137 | $18,192,000 | $155,500 | $515,000 | $54,300 | $141,000 |
| Not Provided | 110 | $14,569,000 | $98,500 | $588,000 | $81,750 | $250,000 |
| Asian | 43 | $6,699,000 | $174,750 | $360,000 | $70,375 | $169,000 |
| American Indian or Alaskan Native | 8 | $813,000 | $98,800 | $206,000 | $38,000 | $88,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $225,000 | $225,000 | $225,000 | $120,000 | $120,000 |
| 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) | 2,692 | $378,971,000 | $186,555 | $935,000 | $81,111 | $791,000 |
| FHA-insured (Federal Housing Administration) | 814 | $94,662,000 | $136,272 | $337,000 | $49,636 | $147,000 |
| VA-guaranteed (Veterans Administration) | 272 | $35,496,000 | $167,818 | $367,000 | $50,636 | $126,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 60 | $5,568,000 | $93,666 | $167,000 | $39,333 | $72,000 |
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 | 2,170 | $275,737,000 | $206,000 | $750,000 | $78,520 | $451,000 |
| Application Withdrawn By Applicant | 938 | $120,280,000 | $169,600 | $640,000 | $70,950 | $458,000 |
| Loan Purchased By The Institution | 616 | $102,975,000 | $165,500 | $611,000 | $78,000 | $791,000 |
| Application Denied By Financial Institution | 78 | $10,392,000 | $136,454 | $935,000 | $62,545 | $384,000 |
| Preapproval Denied by Financial Institution | 32 | $4,912,000 | $148,200 | $279,000 | $57,400 | $117,000 |
| File Closed For Incompleteness | 2 | $179,000 | $89,500 | $90,000 | $41,000 | $58,000 |
| Application Approved But Not Accepted | 1 | $73,000 | $73,000 | $73,000 | $42,000 | $42,000 |
| Preapproval Approved but not Accepted | 1 | $149,000 | $149,000 | $149,000 | $95,000 | $95,000 |
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 | 60 | $8,104,000 | $189,428 | $340,000 | $57,571 | $117,000 |
| Other | 20 | $2,408,000 | $104,250 | $282,000 | $69,250 | $120,000 |
| Collateral | 14 | $2,678,000 | $167,000 | $935,000 | $74,833 | $384,000 |
| Debt-To-Income Ratio | 9 | $1,238,000 | $151,250 | $244,000 | $52,500 | $85,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $318,000 | $106,000 | $143,000 | $34,000 | $43,000 |
| Unverifiable Information | 2 | $250,000 | $125,000 | $160,000 | $27,500 | $55,000 |
| Employment History | 2 | $308,000 | $154,000 | $276,000 | $52,000 | $90,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Assurafirst Financial Company's 2005 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 Assurafirst Financial Company'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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