Budget Mortgage Capital, Inc. Mortgage Lending & HMDA Data, 2008
In 2008, Budget Mortgage Capital, Inc. of Los Angeles, CA reported 65 mortgage applications totaling $7.5 million. The average application was for $115,430, and applicants reported an average income of $80,600. 22% of its applications resulted in an originated loan and 68% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (12), Lake Havasu City-Kingman, AZ (9) and Denver-Aurora, CO (5) (applications in parentheses).
| Mortgage Company & Address | Budget Mortgage Capital, Inc. 1849 Sawtelle Boulevard, Ste 700 Los Angeles, CA 90025 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 |
| Total Number of Mortgage Applications | 65 |
| Total Mortgage Loan Application Amount | $7,503,000 |
| Average Mortgage Loan Application Amount | $115,430 |
| Highest Mortgage Loan Application Amount | $649,000 |
| Average Applicant Income | $80,600 |
| Highest Applicant Income | $484,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Budget Mortgage Capital, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Budget Mortgage Capital, Inc. 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 |
|---|---|---|---|---|---|---|
| Refinancing | 42 | $5,751,000 | $136,000 | $649,000 | $92,000 | $484,000 |
| Home Improvement | 14 | $997,000 | $71,000 | $191,000 | $50,000 | $114,000 |
| Home Purchase | 9 | $755,000 | $83,000 | $200,000 | $75,000 | $150,000 |
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 | 35 | $3,972,000 | $113,000 | $649,000 | $82,000 | $484,000 |
| Hispanic | 25 | $2,919,000 | $116,000 | $285,000 | $85,000 | $301,000 |
| Not applicable | 3 | $377,000 | $125,000 | $250,000 | $0 | $0 |
| Not Provided | 1 | $93,000 | $93,000 | $93,000 | $33,000 | $33,000 |
| Black or African American | 1 | $142,000 | $142,000 | $142,000 | $219,000 | $219,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 65 | $7,503,000 | $115,000 | $649,000 | $81,000 | $484,000 |
| 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 | 44 | $5,334,000 | $121,000 | $649,000 | $70,000 | $219,000 |
| Loan Originated | 14 | $1,184,000 | $84,000 | $238,000 | $123,000 | $484,000 |
| File Closed For Incompleteness | 7 | $985,000 | $140,000 | $280,000 | $63,000 | $114,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Withdrawn By Applicant | 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 |
|---|---|---|---|---|---|---|
| Collateral | 30 | $3,538,000 | $117,000 | $649,000 | $73,000 | $219,000 |
| Credit History | 10 | $1,258,000 | $125,000 | $285,000 | $70,000 | $105,000 |
| Debt-To-Income Ratio | 4 | $538,000 | $134,000 | $200,000 | $45,000 | $72,000 |
| 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 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Budget Mortgage Capital, Inc.'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 Budget Mortgage Capital, 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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