Bergin Financial, Inc. Mortgage Lending & HMDA Data, 2007
In 2007, Bergin Financial, Inc. of Southfield, MI reported 722 mortgage applications totaling $119.3 million, down 45% from 2006. The average application was for $165,240, and applicants reported an average income of $63,716. 45% of its applications resulted in an originated loan and 20% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (254), Indianapolis-Carmel, IN (96) and Detroit-Livonia-Dearborn, MI (38) (applications in parentheses).
| Mortgage Company & Address | Bergin Financial, Inc. 29200 Northwestern Hwy. Suite 350 Southfield, MI 48034 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 722 |
| Total Mortgage Loan Application Amount | $119,304,000 |
| Average Mortgage Loan Application Amount | $165,240 |
| Highest Mortgage Loan Application Amount | $720,000 |
| Average Applicant Income | $63,716 |
| Highest Applicant Income | $455,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bergin Financial, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Chicago-Naperville-Joliet, IL | 254 | $ 52,243,000 | $ 205,681 | $ 75,000 |
| Indianapolis-Carmel, IN | 96 | $ 12,840,000 | $ 133,750 | $ 47,000 |
| Detroit-Livonia-Dearborn, MI | 38 | $ 3,866,000 | $ 101,736 | $ 57,000 |
| Lake County-Kenosha County, IL-WI | 37 | $ 7,049,000 | $ 190,513 | $ 77,000 |
| Warren-Troy-Farmington Hills, MI | 29 | $ 5,310,000 | $ 183,103 | $ 72,000 |
| Gary, IN | 24 | $ 3,495,000 | $ 145,625 | $ 61,000 |
| Atlanta-Sandy Springs-Marietta, GA | 22 | $ 3,498,000 | $ 159,000 | $ 49,000 |
| Rockford, IL | 13 | $ 1,711,000 | $ 131,615 | $ 67,000 |
| Anderson, IN | 9 | $ 671,000 | $ 74,555 | $ 31,000 |
| Tampa-St. Petersburg-Clearwater, FL | 8 | $ 1,266,000 | $ 158,250 | $ 47,000 |
| Kankakee-Bradley, IL | 6 | $ 702,000 | $ 117,000 | $ 83,000 |
| Michigan City-La Porte, IN | 6 | $ 819,000 | $ 136,500 | $ 64,000 |
| Grand Rapids-Wyoming, MI | 5 | $ 805,000 | $ 161,000 | $ 48,000 |
| Ann Arbor, MI | 4 | $ 878,000 | $ 219,500 | $ 132,000 |
| Cape Coral-Fort Myers, FL | 4 | $ 665,000 | $ 166,250 | $ 60,000 |
| Kokomo, IN | 4 | $ 312,000 | $ 78,000 | $ 33,000 |
| Los Angeles-Long Beach-Glendale, CA | 4 | $ 1,145,000 | $ 286,250 | $ 70,000 |
| Milwaukee-Waukesha-West Allis, WI | 4 | $ 655,000 | $ 163,750 | $ 54,000 |
| Baltimore-Towson, MD | 3 | $ 601,000 | $ 200,333 | $ 78,000 |
| Chattanooga, TN-GA | 3 | $ 411,000 | $ 137,000 | $ 63,333 |
| Flint, MI | 3 | $ 380,000 | $ 126,666 | $ 60,000 |
| Janesville, WI | 3 | $ 280,000 | $ 93,333 | $ 53,000 |
| Knoxville, TN | 3 | $ 356,000 | $ 118,666 | $ 51,000 |
| Orlando-Kissimmee, FL | 3 | $ 688,000 | $ 229,333 | $ 101,000 |
| Riverside-San Bernardino-Ontario, CA | 3 | $ 932,000 | $ 310,666 | $ 101,000 |
| St. Louis, MO-IL | 3 | $ 505,000 | $ 168,333 | $ 49,333 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 3 | $ 709,000 | $ 236,333 | $ 64,000 |
| Augusta-Richmond County, GA-SC | 2 | $ 274,000 | $ 137,000 | $ 60,000 |
| Columbus, IN | 2 | $ 202,000 | $ 101,000 | $ 36,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 2 | $ 246,000 | $ 123,000 | $ 46,000 |
| Evansville, IN-KY | 2 | $ 312,000 | $ 156,000 | $ 59,000 |
| Florence, SC | 2 | $ 375,000 | $ 187,500 | $ 60,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 2 | $ 458,000 | $ 229,000 | $ 76,000 |
| Gainesville, GA | 2 | $ 330,000 | $ 165,000 | $ 69,000 |
| Kalamazoo-Portage, MI | 2 | $ 205,000 | $ 102,500 | $ 97,000 |
| Lafayette, IN | 2 | $ 262,000 | $ 131,000 | $ 54,000 |
| Lansing-East Lansing, MI | 2 | $ 254,000 | $ 127,000 | $ 37,000 |
| Monroe, MI | 2 | $ 294,000 | $ 147,000 | $ 41,000 |
| Muncie, IN | 2 | $ 167,000 | $ 83,500 | $ 31,000 |
| Muskegon-Norton Shores, MI | 2 | $ 99,000 | $ 49,500 | $ 49,000 |
| Terre Haute, IN | 2 | $ 140,000 | $ 70,000 | $ 31,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 2 | $ 580,000 | $ 290,000 | $ 65,000 |
| Akron, OH | 1 | $ 72,000 | $ 72,000 | $ 54,000 |
| Albuquerque, NM | 1 | $ 174,000 | $ 174,000 | $ 48,000 |
| Anchorage, AK | 1 | $ 190,000 | $ 190,000 | $ 45,000 |
| Bakersfield, CA | 1 | $ 174,000 | $ 174,000 | $ 110,000 |
| Bloomington, IN | 1 | $ 62,000 | $ 62,000 | $ 21,000 |
| Bloomington-Normal, IL | 1 | $ 82,000 | $ 82,000 | $ 25,000 |
| Champaign-Urbana, IL | 1 | $ 120,000 | $ 120,000 | $ 72,000 |
| Cincinnati-Middletown, OH-KY-IN | 1 | $ 187,000 | $ 187,000 | $ 72,000 |
| Colorado Springs, CO | 1 | $ 141,000 | $ 141,000 | $ 59,000 |
| El Centro, CA | 1 | $ 233,000 | $ 233,000 | $ 84,000 |
| Elizabethtown, KY | 1 | $ 150,000 | $ 150,000 | $ 72,000 |
| Elkhart-Goshen, IN | 1 | $ 160,000 | $ 160,000 | $ 60,000 |
| Fresno, CA | 1 | $ 294,000 | $ 294,000 | $ 93,000 |
| Jacksonville, FL | 1 | $ 240,000 | $ 240,000 | $ 45,000 |
| La Crosse, WI-MN | 1 | $ 72,000 | $ 72,000 | $ 32,000 |
| Lakeland, FL | 1 | $ 120,000 | $ 120,000 | $ 83,000 |
| Louisville-Jefferson County, KY-IN | 1 | $ 76,000 | $ 76,000 | $ 21,000 |
| Madison, WI | 1 | $ 196,000 | $ 196,000 | $ 68,000 |
| Memphis, TN-MS-AR | 1 | $ 124,000 | $ 124,000 | $ 40,000 |
| Miami-Miami Beach-Kendall, FL | 1 | $ 159,000 | $ 159,000 | $ 49,000 |
| Modesto, CA | 1 | $ 241,000 | $ 241,000 | $ 110,000 |
| Naples-Marco Island, FL | 1 | $ 160,000 | $ 160,000 | $ 40,000 |
| Niles-Benton Harbor, MI | 1 | $ 95,000 | $ 95,000 | $ 25,000 |
| Palm Bay-Melbourne-Titusville, FL | 1 | $ 152,000 | $ 152,000 | $ 82,000 |
| Racine, WI | 1 | $ 151,000 | $ 151,000 | $ 72,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 1 | $ 300,000 | $ 300,000 | $ 111,000 |
Mortgage Loan Application Detail Totals for Bergin Financial, Inc. in 2007
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 | 623 | $107,069,000 | $171,000 | $720,000 | $66,000 | $455,000 |
| Home Purchase | 92 | $11,206,000 | $121,000 | $600,000 | $48,000 | $202,000 |
| Home Improvement | 7 | $1,029,000 | $147,000 | $251,000 | $67,000 | $139,000 |
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 | 473 | $82,349,000 | $174,000 | $720,000 | $69,000 | $455,000 |
| Black or African American | 166 | $23,557,000 | $141,000 | $417,000 | $53,000 | $199,000 |
| Not Provided | 42 | $5,498,000 | $130,000 | $281,000 | $47,000 | $106,000 |
| Hispanic | 31 | $5,608,000 | $180,000 | $335,000 | $59,000 | $111,000 |
| Asian | 7 | $1,705,000 | $243,000 | $350,000 | $98,000 | $207,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $447,000 | $223,000 | $312,000 | $73,000 | $95,000 |
| American Indian or Alaskan Native | 1 | $140,000 | $140,000 | $140,000 | $38,000 | $38,000 |
| 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) | 463 | $75,067,000 | $162,000 | $434,000 | $60,000 | $192,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 259 | $44,237,000 | $170,000 | $720,000 | $70,000 | $455,000 |
| 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 | 324 | $61,620,000 | $190,000 | $710,000 | $76,000 | $342,000 |
| Application Withdrawn By Applicant | 164 | $24,007,000 | $146,000 | $720,000 | $53,000 | $161,000 |
| Application Denied By Financial Institution | 142 | $20,572,000 | $144,000 | $360,000 | $49,000 | $152,000 |
| File Closed For Incompleteness | 89 | $12,837,000 | $144,000 | $365,000 | $62,000 | $455,000 |
| Application Approved But Not Accepted | 2 | $250,000 | $125,000 | $150,000 | $57,000 | $69,000 |
| Preapproval Denied by Financial Institution | 1 | $18,000 | $18,000 | $18,000 | $58,000 | $58,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 | 26 | $3,417,000 | $131,000 | $300,000 | $46,000 | $100,000 |
| Debt-To-Income Ratio | 26 | $4,152,000 | $159,000 | $300,000 | $44,000 | $89,000 |
| Collateral | 11 | $1,654,000 | $150,000 | $280,000 | $64,000 | $152,000 |
| Unverifiable Information | 7 | $735,000 | $105,000 | $172,000 | $72,000 | $122,000 |
| Employment History | 5 | $679,000 | $135,000 | $232,000 | $50,000 | $75,000 |
| Other | 2 | $248,000 | $124,000 | $131,000 | $40,000 | $43,000 |
| Credit Application Incomplete | 2 | $228,000 | $114,000 | $116,000 | $45,000 | $62,000 |
| 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 Bergin Financial, Inc.'s 2007 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 Bergin Financial, Inc.'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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