Beneficial Mortgage Corp. Mortgage Lending & HMDA Data, 2008
In 2008, Beneficial Mortgage Corp. of San Juan, PR reported 35 mortgage applications totaling $4.6 million. The average application was for $131,257, and applicants reported an average income of $49,142. 54% of its applications resulted in an originated loan and 9% were denied. Its largest markets were San Juan-Caguas-Guaynabo, PR (33) and Fajardo, PR (2).
| Mortgage Company & Address | Beneficial Mortgage Corp. 1322 F.D. Roosevelt Ave. San Juan, PR 00920 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 |
| Total Number of Mortgage Applications | 35 |
| Total Mortgage Loan Application Amount | $4,594,000 |
| Average Mortgage Loan Application Amount | $131,257 |
| Highest Mortgage Loan Application Amount | $300,000 |
| Average Applicant Income | $49,142 |
| Highest Applicant Income | $120,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Beneficial Mortgage Corp. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Beneficial Mortgage Corp. 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 | 27 | $3,570,000 | $132,000 | $300,000 | $48,000 | $120,000 |
| Refinancing | 8 | $1,024,000 | $128,000 | $200,000 | $53,000 | $119,000 |
| 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 |
|---|---|---|---|---|---|---|
| Hispanic | 35 | $4,594,000 | $131,000 | $300,000 | $49,000 | $120,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| White | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 16 | $2,122,000 | $132,000 | $259,000 | $46,000 | $73,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 14 | $1,743,000 | $124,000 | $300,000 | $57,000 | $120,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $729,000 | $145,000 | $169,000 | $37,000 | $45,000 |
| 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 | 19 | $2,560,000 | $134,000 | $289,000 | $49,000 | $120,000 |
| File Closed For Incompleteness | 6 | $674,000 | $112,000 | $165,000 | $43,000 | $57,000 |
| Application Withdrawn By Applicant | 4 | $467,000 | $116,000 | $197,000 | $61,000 | $73,000 |
| Application Approved But Not Accepted | 3 | $292,000 | $97,000 | $122,000 | $40,000 | $49,000 |
| Application Denied By Financial Institution | 3 | $601,000 | $200,000 | $300,000 | $57,000 | $78,000 |
| 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 | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Beneficial Mortgage Corp.'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 Beneficial Mortgage Corp.'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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