Bank of New Mexico Mortgage Lending & HMDA Data, 2016
In 2016, Bank of New Mexico of Grants, NM reported 75 mortgage applications totaling $1.8 million, down 31% from 2015. The average application was for $24,506, and applicants reported an average income of $40,040. 48% of its applications resulted in an originated loan and 49% were denied. Its largest markets were Albuquerque, NM (6), Farmington, NM (1) and Flagstaff, AZ (1) (applications in parentheses).
| Mortgage Company & Address | Bank of New Mexico Po Box 1088 Grants, NM 87020 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 |
| Total Number of Mortgage Applications | 75 |
| Total Mortgage Loan Application Amount | $1,838,000 |
| Average Mortgage Loan Application Amount | $24,506 |
| Highest Mortgage Loan Application Amount | $215,000 |
| Average Applicant Income | $40,040 |
| Highest Applicant Income | $136,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bank of New Mexico filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Bank of New Mexico in 2016
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 Improvement | 60 | $595,000 | $9,000 | $120,000 | $41,000 | $136,000 |
| Home Purchase | 9 | $807,000 | $89,000 | $215,000 | $33,000 | $88,000 |
| Refinancing | 6 | $436,000 | $72,000 | $213,000 | $41,000 | $102,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 33 | $872,000 | $26,000 | $215,000 | $34,000 | $102,000 |
| American Indian or Alaskan Native | 22 | $56,000 | $2,000 | $10,000 | $34,000 | $136,000 |
| White | 14 | $798,000 | $57,000 | $213,000 | $57,000 | $129,000 |
| Native Hawaiin or Other Pacific Islander | 4 | $24,000 | $6,000 | $10,000 | $67,000 | $124,000 |
| Not applicable | 1 | $22,000 | $22,000 | $22,000 | $0 | $0 |
| Black or African American | 1 | $66,000 | $66,000 | $66,000 | $47,000 | $47,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 75 | $1,838,000 | $24,000 | $215,000 | $40,000 | $136,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 37 | $521,000 | $14,000 | $200,000 | $28,000 | $136,000 |
| Loan Originated | 36 | $1,222,000 | $33,000 | $215,000 | $53,000 | $129,000 |
| Application Approved But Not Accepted | 2 | $95,000 | $47,000 | $70,000 | $25,000 | $34,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Credit History | 30 | $450,000 | $15,000 | $200,000 | $27,000 | $136,000 |
| Debt-To-Income Ratio | 5 | $58,000 | $11,000 | $30,000 | $25,000 | $37,000 |
| Other | 1 | $10,000 | $10,000 | $10,000 | $43,000 | $43,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Bank of New Mexico's 2016 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 New Mexico'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 Mexico, download the full spreadsheet
with aggregated HMDA statistics today.
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