Cathay Bank Mortgage Lending & HMDA Data, 2006
In 2006, Cathay Bank of El Monte, CA reported 576 mortgage applications totaling $277.4 million, up 13% from 2005. The average application was for $481,515, and applicants reported an average income of $140,401. 72% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (179), Seattle-Bellevue-Everett, WA (98) and New York-White Plains-Wayne, NY-NJ (47) (applications in parentheses).
| Mortgage Company & Address | Cathay Bank 9650 Flair Drive El Monte, CA 91731 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 | 576 |
| Total Mortgage Loan Application Amount | $277,353,000 |
| Average Mortgage Loan Application Amount | $481,515 |
| Highest Mortgage Loan Application Amount | $15,496,000 |
| Average Applicant Income | $140,401 |
| Highest Applicant Income | $2,575,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cathay Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Los Angeles, California | 179 | $ 95,801,000 | $ 535,201 | $ 145,000 |
| King, Washington | 89 | $ 21,579,000 | $ 242,460 | $ 113,000 |
| Orange, California | 42 | $ 17,384,000 | $ 413,904 | $ 165,000 |
| Santa Clara, California | 37 | $ 21,238,000 | $ 574,000 | $ 187,000 |
| Alameda, California | 22 | $ 7,796,000 | $ 354,363 | $ 147,000 |
| Queens, New York | 16 | $ 7,323,000 | $ 457,687 | $ 49,000 |
| Kings, New York | 15 | $ 7,774,000 | $ 518,266 | $ 111,000 |
| San Bernardino, California | 13 | $ 2,897,000 | $ 222,846 | $ 141,000 |
| San Diego, California | 13 | $ 2,704,000 | $ 208,000 | $ 75,000 |
| San Francisco, California | 13 | $ 8,679,000 | $ 667,615 | $ 175,000 |
| Cook, Illinois | 13 | $ 3,123,000 | $ 240,230 | $ 130,000 |
| Contra Costa, California | 11 | $ 3,001,000 | $ 272,818 | $ 108,000 |
| Sacramento, California | 11 | $ 2,336,000 | $ 212,363 | $ 167,000 |
| Suffolk, Massachusetts | 10 | $ 4,150,000 | $ 415,000 | $ 57,000 |
| Harris, Texas | 10 | $ 13,312,000 | $ 1,331,200 | $ 110,000 |
| Snohomish, Washington | 9 | $ 1,941,000 | $ 215,666 | $ 85,000 |
| San Mateo, California | 8 | $ 10,079,000 | $ 1,259,875 | $ 163,000 |
| New York, New York | 8 | $ 5,575,000 | $ 696,875 | $ 180,000 |
| Stanislaus, California | 5 | $ 1,588,000 | $ 317,600 | $ 343,000 |
| Middlesex, Massachusetts | 5 | $ 2,148,000 | $ 429,600 | $ 299,000 |
| Norfolk, Massachusetts | 5 | $ 1,486,000 | $ 297,200 | $ 154,000 |
| Riverside, California | 4 | $ 2,170,000 | $ 542,500 | $ 45,000 |
| San Joaquin, California | 3 | $ 1,150,000 | $ 383,333 | $ 82,000 |
| Clark, Nevada | 3 | $ 601,000 | $ 200,333 | $ 136,000 |
| Hudson, New Jersey | 3 | $ 1,233,000 | $ 411,000 | $ 65,000 |
| Middlesex, New Jersey | 3 | $ 538,000 | $ 179,333 | $ 0 |
| Nassau, New York | 3 | $ 2,160,000 | $ 720,000 | $ 1,030,000 |
| Richmond, New York | 3 | $ 930,000 | $ 310,000 | $ 100,000 |
| Monmouth, New Jersey | 2 | $ 214,000 | $ 107,000 | $ 132,000 |
| Bexar, Texas | 2 | $ 150,000 | $ 75,000 | $ 180,000 |
| Maricopa, Arizona | 1 | $ 4,900,000 | $ 4,900,000 | $ 0 |
| Kern, California | 1 | $ 133,000 | $ 133,000 | $ 111,000 |
| Placer, California | 1 | $ 500,000 | $ 500,000 | $ 144,000 |
| Solano, California | 1 | $ 210,000 | $ 210,000 | $ 275,000 |
| Fairfield, Connecticut | 1 | $ 825,000 | $ 825,000 | $ 0 |
| Plymouth, Massachusetts | 1 | $ 209,000 | $ 209,000 | $ 67,000 |
| Worcester, Massachusetts | 1 | $ 173,000 | $ 173,000 | $ 192,000 |
| Bergen, New Jersey | 1 | $ 300,000 | $ 300,000 | $ 133,000 |
| Essex, New Jersey | 1 | $ 225,000 | $ 225,000 | $ 72,000 |
| Westchester, New York | 1 | $ 1,420,000 | $ 1,420,000 | $ 0 |
| Collin, Texas | 1 | $ 132,000 | $ 132,000 | $ 90,000 |
| Denton, Texas | 1 | $ 15,496,000 | $ 15,496,000 | $ 0 |
| Fort Bend, Texas | 1 | $ 300,000 | $ 300,000 | $ 107,000 |
| Nacogdoches, Texas | 1 | $ 1,200,000 | $ 1,200,000 | $ 0 |
| Pierce, Washington | 1 | $ 170,000 | $ 170,000 | $ 133,000 |
| Thurston, Washington | 1 | $ 100,000 | $ 100,000 | $ 24,000 |
Mortgage Loan Application Detail Totals for Cathay Bank in 2006
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 | 315 | $164,243,000 | $521,000 | $15,496,000 | $125,000 | $1,172,000 |
| Home Purchase | 166 | $95,788,000 | $577,000 | $6,100,000 | $171,000 | $2,575,000 |
| Home Improvement | 95 | $17,322,000 | $182,000 | $840,000 | $138,000 | $1,200,000 |
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 |
|---|---|---|---|---|---|---|
| Asian | 407 | $150,700,000 | $370,000 | $2,950,000 | $173,000 | $2,575,000 |
| White | 68 | $18,247,000 | $268,000 | $3,000,000 | $86,000 | $740,000 |
| Not applicable | 45 | $95,333,000 | $2,118,000 | $15,496,000 | $0 | $0 |
| Hispanic | 41 | $9,046,000 | $220,000 | $581,000 | $55,000 | $459,000 |
| Black or African American | 10 | $2,056,000 | $205,000 | $550,000 | $96,000 | $550,000 |
| American Indian or Alaskan Native | 3 | $1,690,000 | $563,000 | $690,000 | $390,000 | $1,172,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $281,000 | $140,000 | $146,000 | $40,000 | $50,000 |
| 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) | 576 | $277,353,000 | $481,000 | $15,496,000 | $140,000 | $2,575,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 414 | $236,378,000 | $570,000 | $15,496,000 | $152,000 | $1,200,000 |
| Loan Purchased By The Institution | 97 | $15,856,000 | $163,000 | $334,000 | $43,000 | $107,000 |
| Application Denied By Financial Institution | 27 | $10,619,000 | $393,000 | $1,800,000 | $160,000 | $528,000 |
| Application Withdrawn By Applicant | 16 | $5,429,000 | $339,000 | $1,736,000 | $198,000 | $1,200,000 |
| Application Approved But Not Accepted | 16 | $8,301,000 | $518,000 | $3,000,000 | $355,000 | $2,575,000 |
| File Closed For Incompleteness | 6 | $770,000 | $128,000 | $200,000 | $75,000 | $192,000 |
| 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 | 16 | $6,649,000 | $415,000 | $1,800,000 | $152,000 | $528,000 |
| Credit History | 5 | $1,645,000 | $329,000 | $500,000 | $201,000 | $330,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $1,000,000 | $333,000 | $800,000 | $73,000 | $143,000 |
| Other | 2 | $350,000 | $175,000 | $250,000 | $96,000 | $120,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cathay Bank's 2006 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 Cathay Bank'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 California, download the full spreadsheet
with aggregated HMDA statistics today.
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