Bank of Internet USA Mortgage Lending & HMDA Data, 2010

In 2010, Bank of Internet USA of San Diego, CA reported 1,548 mortgage applications totaling $671.3 million, up 60% from 2009. The average application was for $433,686, and applicants reported an average income of $188,810. 59% of its applications resulted in an originated loan and 17% were denied. Its largest markets were San Diego-Carlsbad-San Marcos, CA (288), Los Angeles-Long Beach-Glendale, CA (259) and Santa Ana-Anaheim-Irvine, CA (124) (applications in parentheses).

Mortgage Company & Address Bank of Internet USA
12777 High Bluff Drive, Suite 100
San Diego, CA 92130
Tel #: available with data download
Federal Regulator * available with data download
Years 2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 1,548
Total Mortgage Loan Application Amount $671,347,000
Average Mortgage Loan Application Amount $433,686
Highest Mortgage Loan Application Amount $5,587,000
Average Applicant Income $188,810
Highest Applicant Income $9,999,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bank of Internet USA filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Totals for Bank of Internet USA by Metropolitan Area in 2010

Metro Area Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
San Diego-Carlsbad-San Marcos, CA 288 $ 113,865,000 $ 395,364 $ 168,000
Los Angeles-Long Beach-Glendale, CA 259 $ 169,930,000 $ 656,100 $ 345,000
Santa Ana-Anaheim-Irvine, CA 124 $ 68,408,000 $ 551,677 $ 215,000
Riverside-San Bernardino-Ontario, CA 51 $ 15,563,000 $ 305,156 $ 166,000
Oakland-Fremont-Hayward, CA 38 $ 15,196,000 $ 399,894 $ 121,000
Washington-Arlington-Alexandria, DC-VA-MD-WV 35 $ 9,633,000 $ 275,228 $ 136,000
Seattle-Bellevue-Everett, WA 29 $ 12,257,000 $ 422,655 $ 129,000
San Jose-Sunnyvale-Santa Clara, CA 25 $ 14,640,000 $ 585,600 $ 267,000
Denver-Aurora-Broomfield, CO 23 $ 6,273,000 $ 272,739 $ 147,000
Philadelphia, PA 23 $ 5,754,000 $ 250,173 $ 127,000
San Francisco-San Mateo-Redwood City, CA 23 $ 12,626,000 $ 548,956 $ 128,000
Atlanta-Sandy Springs-Marietta, GA 22 $ 6,121,000 $ 278,227 $ 122,000
Chicago-Joliet-Naperville, IL 22 $ 7,321,000 $ 332,772 $ 117,000
Oxnard-Thousand Oaks-Ventura, CA 21 $ 9,479,000 $ 451,380 $ 248,000
Phoenix-Mesa-Glendale, AZ 20 $ 9,248,000 $ 462,400 $ 222,000
Portland-Vancouver-Hillsboro, OR-WA 18 $ 6,377,000 $ 354,277 $ 160,277
Raleigh-Cary, NC 14 $ 3,806,000 $ 271,857 $ 153,000
Boston-Quincy, MA 13 $ 4,681,000 $ 360,076 $ 101,000
Cambridge-Newton-Framingham, MA 13 $ 3,533,000 $ 271,769 $ 123,000
Newark-Union, NJ-PA 13 $ 4,163,000 $ 320,230 $ 149,000
Edison-New Brunswick, NJ 12 $ 4,540,000 $ 378,333 $ 136,000
New York-White Plains-Wayne, NY-NJ 12 $ 5,847,000 $ 487,250 $ 60,500
Minneapolis-St. Paul-Bloomington, MN-WI 11 $ 2,522,000 $ 229,272 $ 149,818
Sacramento--Arden-Arcade--Roseville, CA 11 $ 4,369,000 $ 397,181 $ 210,000
Baltimore-Towson, MD 10 $ 2,615,000 $ 261,500 $ 134,000
Providence-New Bedford-Fall River, RI-MA 10 $ 2,406,000 $ 240,600 $ 161,400
Houston-Sugar Land-Baytown, TX 9 $ 4,636,000 $ 515,111 $ 130,000
Salt Lake City, UT 9 $ 5,496,000 $ 610,666 $ 391,000
Nassau-Suffolk, NY 8 $ 3,040,000 $ 380,000 $ 110,000
Virginia Beach-Norfolk-Newport News, VA-NC 8 $ 1,747,000 $ 218,375 $ 92,500
Worcester, MA 8 $ 1,868,000 $ 233,500 $ 148,000
Ann Arbor, MI 7 $ 3,641,000 $ 520,142 $ 60,000
Peabody, MA 7 $ 1,989,000 $ 284,142 $ 128,000
Hartford-West Hartford-East Hartford, CT 6 $ 1,934,000 $ 322,333 $ 189,000
San Luis Obispo-Paso Robles, CA 6 $ 2,540,000 $ 423,333 $ 73,000
Bethesda-Rockville-Frederick, MD 5 $ 1,249,000 $ 249,800 $ 158,000
Boulder, CO 5 $ 1,480,000 $ 296,000 $ 80,000
Bridgeport-Stamford-Norwalk, CT 5 $ 1,697,000 $ 339,400 $ 98,000
Charlotte-Gastonia-Rock Hill, NC-SC 5 $ 1,220,000 $ 244,000 $ 111,000
Columbus, OH 5 $ 4,015,000 $ 803,000 $ 107,000
Prescott, AZ 5 $ 3,252,000 $ 650,400 $ 55,000
Richmond, VA 5 $ 2,124,000 $ 424,800 $ 113,000
Allentown-Bethlehem-Easton, PA-NJ 4 $ 1,043,000 $ 260,750 $ 67,000
Camden, NJ 4 $ 739,000 $ 184,750 $ 106,000
Colorado Springs, CO 4 $ 985,000 $ 246,250 $ 111,000
Dallas-Plano-Irving, TX 4 $ 1,695,000 $ 423,750 $ 0
Honolulu, HI 4 $ 1,720,000 $ 430,000 $ 115,000
Palm Bay-Melbourne-Titusville, FL 4 $ 583,000 $ 145,750 $ 195,000
Salem, OR 4 $ 1,922,000 $ 480,500 $ 83,000
Santa Barbara-Santa Maria-Goleta, CA 4 $ 3,196,000 $ 799,000 $ 304,000
St. Louis, MO-IL 4 $ 1,419,000 $ 354,750 $ 133,000
Albuquerque, NM 3 $ 506,000 $ 168,666 $ 58,000
Bellingham, WA 3 $ 809,000 $ 269,666 $ 64,000
Boise City-Nampa, ID 3 $ 473,000 $ 157,666 $ 154,000
Charleston-North Charleston-Summerville, SC 3 $ 759,000 $ 253,000 $ 92,000
Detroit-Livonia-Dearborn, MI 3 $ 643,000 $ 214,333 $ 143,000
Durham-Chapel Hill, NC 3 $ 603,000 $ 201,000 $ 178,000
Flagstaff, AZ 3 $ 1,133,000 $ 377,666 $ 159,000
Fort Collins-Loveland, CO 3 $ 601,000 $ 200,333 $ 98,000
Fresno, CA 3 $ 782,000 $ 260,666 $ 108,000
Lake Havasu City-Kingman, AZ 3 $ 412,000 $ 137,333 $ 68,000
Las Vegas-Paradise, NV 3 $ 1,432,000 $ 477,333 $ 37,000
Manchester-Nashua, NH 3 $ 599,000 $ 199,666 $ 132,000
Milwaukee-Waukesha-West Allis, WI 3 $ 633,000 $ 211,000 $ 149,000
Orlando-Kissimmee-Sanford, FL 3 $ 1,481,000 $ 493,666 $ 107,000
Portland-South Portland-Biddeford, ME 3 $ 685,000 $ 228,333 $ 174,000
Provo-Orem, UT 3 $ 585,000 $ 195,000 $ 72,000
Reno-Sparks, NV 3 $ 882,000 $ 294,000 $ 197,000
San Antonio-New Braunfels, TX 3 $ 1,979,000 $ 659,666 $ 60,000
Santa Cruz-Watsonville, CA 3 $ 840,000 $ 280,000 $ 75,000
Stockton, CA 3 $ 1,140,000 $ 380,000 $ 165,000
Vallejo-Fairfield, CA 3 $ 1,225,000 $ 408,333 $ 100,000
Winston-Salem, NC 3 $ 1,072,000 $ 357,333 $ 531,000
Akron, OH 2 $ 3,119,000 $ 1,559,500 $ 32,000
Anchorage, AK 2 $ 601,000 $ 300,500 $ 139,000
Austin-Round Rock-San Marcos, TX 2 $ 546,000 $ 273,000 $ 220,000
Barnstable Town, MA 2 $ 1,943,000 $ 971,500 $ 335,000
Bend, OR 2 $ 348,000 $ 174,000 $ 57,000
Birmingham-Hoover, AL 2 $ 335,000 $ 167,500 $ 77,000
Cincinnati-Middletown, OH-KY-IN 2 $ 2,031,000 $ 1,015,500 $ 133,000
Cleveland-Elyria-Mentor, OH 2 $ 700,000 $ 350,000 $ 228,000
Columbia, SC 2 $ 360,000 $ 180,000 $ 134,000
Corpus Christi, TX 2 $ 1,525,000 $ 762,500 $ 0
Eugene-Springfield, OR 2 $ 580,000 $ 290,000 $ 16,000
Fort Worth-Arlington, TX 2 $ 714,000 $ 357,000 $ 38,000
Gainesville, GA 2 $ 392,000 $ 196,000 $ 177,000
Greensboro-High Point, NC 2 $ 434,000 $ 217,000 $ 57,000
Harrisburg-Carlisle, PA 2 $ 564,000 $ 282,000 $ 135,000
Hickory-Lenoir-Morganton, NC 2 $ 418,000 $ 209,000 $ 84,000
Hot Springs, AR 2 $ 636,000 $ 318,000 $ 182,000
Indianapolis-Carmel, IN 2 $ 630,000 $ 315,000 $ 282,000
Knoxville, TN 2 $ 201,000 $ 100,500 $ 84,000
Madison, WI 2 $ 955,000 $ 477,500 $ 256,000
Medford, OR 2 $ 488,000 $ 244,000 $ 126,000
Miami-Miami Beach-Kendall, FL 2 $ 495,000 $ 247,500 $ 123,000
Odessa, TX 2 $ 2,257,000 $ 1,128,500 $ 0
Olympia, WA 2 $ 825,000 $ 412,500 $ 0
Port St. Lucie, FL 2 $ 358,000 $ 179,000 $ 104,000
Rochester, NY 2 $ 315,000 $ 157,500 $ 149,000
Rockingham County-Strafford County, NH 2 $ 525,000 $ 262,500 $ 196,000
Santa Rosa-Petaluma, CA 2 $ 915,000 $ 457,500 $ 238,000
Springfield, MA 2 $ 447,000 $ 223,500 $ 74,000
Tacoma, WA 2 $ 194,000 $ 97,000 $ 164,000
Tampa-St. Petersburg-Clearwater, FL 2 $ 491,000 $ 245,500 $ 16,000
Warren-Troy-Farmington Hills, MI 2 $ 422,000 $ 211,000 $ 93,000
West Palm Beach-Boca Raton-Boynton Beach, FL 2 $ 1,584,000 $ 792,000 $ 194,000
Wichita, KS 2 $ 328,000 $ 164,000 $ 127,000
Anderson, SC 1 $ 688,000 $ 688,000 $ 0
Asheville, NC 1 $ 291,000 $ 291,000 $ 67,000
Augusta-Richmond County, GA-SC 1 $ 275,000 $ 275,000 $ 0
Bangor, ME 1 $ 300,000 $ 300,000 $ 400,000
Bowling Green, KY 1 $ 71,000 $ 71,000 $ 22,000
Bremerton-Silverdale, WA 1 $ 288,000 $ 288,000 $ 63,000
Canton-Massillon, OH 1 $ 158,000 $ 158,000 $ 61,000
Charlottesville, VA 1 $ 300,000 $ 300,000 $ 119,000
Chico, CA 1 $ 71,000 $ 71,000 $ 48,000
Coeur D'Alene, ID 1 $ 81,000 $ 81,000 $ 31,000
Corvallis, OR 1 $ 218,000 $ 218,000 $ 77,000
Dover, DE 1 $ 258,000 $ 258,000 $ 382,000
Fayetteville, NC 1 $ 203,000 $ 203,000 $ 165,000
Gainesville, FL 1 $ 225,000 $ 225,000 $ 0
Grand Rapids-Wyoming, MI 1 $ 2,450,000 $ 2,450,000 $ 0
Greeley, CO 1 $ 150,000 $ 150,000 $ 108,000
Greenville, NC 1 $ 308,000 $ 308,000 $ 0
Hagerstown-Martinsburg, MD-WV 1 $ 146,000 $ 146,000 $ 78,000
Hattiesburg, MS 1 $ 200,000 $ 200,000 $ 109,000
Huntsville, AL 1 $ 380,000 $ 380,000 $ 500,000
Jackson, MS 1 $ 800,000 $ 800,000 $ 0
Kalamazoo-Portage, MI 1 $ 2,450,000 $ 2,450,000 $ 0
Kansas City, MO-KS 1 $ 289,000 $ 289,000 $ 129,000
Kennewick-Pasco-Richland, WA 1 $ 177,000 $ 177,000 $ 23,000
Lake County-Kenosha County, IL-WI 1 $ 112,000 $ 112,000 $ 124,000
Lewiston-Auburn, ME 1 $ 240,000 $ 240,000 $ 81,000
Lincoln, NE 1 $ 275,000 $ 275,000 $ 130,000
Longview, WA 1 $ 249,000 $ 249,000 $ 315,000
Louisville-Jefferson County, KY-IN 1 $ 70,000 $ 70,000 $ 41,000
Lynchburg, VA 1 $ 192,000 $ 192,000 $ 54,000
Madera-Chowchilla, CA 1 $ 244,000 $ 244,000 $ 65,000
Memphis, TN-MS-AR 1 $ 287,000 $ 287,000 $ 218,000
Midland, TX 1 $ 1,300,000 $ 1,300,000 $ 0
Mount Vernon-Anacortes, WA 1 $ 225,000 $ 225,000 $ 111,000
Myrtle Beach-North Myrtle Beach-Conway, SC 1 $ 268,000 $ 268,000 $ 59,000
New Haven-Milford, CT 1 $ 179,000 $ 179,000 $ 65,000
Ogden-Clearfield, UT 1 $ 211,000 $ 211,000 $ 84,000
Oklahoma City, OK 1 $ 60,000 $ 60,000 $ 22,000
Omaha-Council Bluffs, NE-IA 1 $ 264,000 $ 264,000 $ 51,000
Peoria, IL 1 $ 234,000 $ 234,000 $ 110,000
Pittsburgh, PA 1 $ 185,000 $ 185,000 $ 107,000
Poughkeepsie-Newburgh-Middletown, NY 1 $ 2,145,000 $ 2,145,000 $ 0
Pueblo, CO 1 $ 256,000 $ 256,000 $ 144,000
Salinas, CA 1 $ 429,000 $ 429,000 $ 0
San Angelo, TX 1 $ 325,000 $ 325,000 $ 0
Savannah, GA 1 $ 312,000 $ 312,000 $ 97,000
Sioux City, IA-NE-SD 1 $ 810,000 $ 810,000 $ 0
Spokane, WA 1 $ 240,000 $ 240,000 $ 100,000
Trenton-Ewing, NJ 1 $ 335,000 $ 335,000 $ 176,000
Tucson, AZ 1 $ 224,000 $ 224,000 $ 111,000
Wenatchee-East Wenatchee, WA 1 $ 240,000 $ 240,000 $ 74,000
Wheeling, WV-OH 1 $ 50,000 $ 50,000 $ 38,000
Wilmington, NC 1 $ 315,000 $ 315,000 $ 626,000
Yuba City, CA 1 $ 156,000 $ 156,000 $ 48,000
Yuma, AZ 1 $ 76,000 $ 76,000 $ 74,000

Mortgage Loan Application Detail Totals for Bank of Internet USA in 2010

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 1,315 $510,897,000 $388,000 $3,500,000 $166,000 $6,568,000
Home Purchase 229 $159,390,000 $696,000 $5,587,000 $321,000 $9,999,000
Home Improvement 4 $1,060,000 $265,000 $370,000 $120,000 $145,000

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 1,012 $413,523,000 $408,000 $5,587,000 $221,000 $9,999,000
Not Provided 249 $98,859,000 $397,000 $2,000,000 $163,000 $2,052,000
Asian 109 $47,966,000 $440,000 $3,350,000 $159,000 $1,226,000
Not applicable 89 $80,455,000 $903,000 $3,185,000 $0 $0
Hispanic 64 $22,866,000 $357,000 $2,210,000 $119,000 $635,000
Black or African American 15 $4,646,000 $309,000 $1,090,000 $146,000 $310,000
Native Hawaiian or Other Pacific Islander 6 $2,168,000 $361,000 $725,000 $191,000 $328,000
American Indian or Alaskan Native 4 $864,000 $216,000 $385,000 $134,000 $260,000

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) 1,534 $666,709,000 $434,000 $5,587,000 $190,000 $9,999,000
FHA-insured (Federal Housing Administration) 14 $4,638,000 $331,000 $581,000 $58,000 $144,000
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 906 $388,468,000 $428,000 $4,500,000 $170,000 $9,999,000
Application Denied By Financial Institution 267 $117,676,000 $440,000 $3,500,000 $207,000 $6,568,000
Application Withdrawn By Applicant 254 $124,735,000 $491,000 $5,587,000 $261,000 $8,117,000
File Closed For Incompleteness 121 $40,468,000 $334,000 $2,205,000 $142,000 $700,000
Application Approved But Not Accepted 0 $0 $0 $0 $0 $0
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
Other 115 $52,915,000 $460,000 $3,500,000 $330,000 $6,568,000
Debt-To-Income Ratio 65 $26,565,000 $408,000 $2,450,000 $87,000 $480,000
Collateral 45 $18,954,000 $421,000 $2,145,000 $119,000 $805,000
Credit History 19 $10,765,000 $566,000 $2,700,000 $154,000 $442,000
Unverifiable Information 12 $4,359,000 $363,000 $730,000 $129,000 $240,000
Employment History 5 $1,315,000 $263,000 $377,000 $167,000 $485,000
Insufficient Cash (Downpayment, Closing Cost) 5 $2,485,000 $497,000 $800,000 $156,000 $298,000
Credit Application Incomplete 1 $318,000 $318,000 $318,000 $104,000 $104,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0

Our comprehensive HMDA mortgage statistics provide invaluable insights into Bank of Internet USA's 2010 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 Bank of Internet USA'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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