Choice Capital Funding Inc. Mortgage Lending & HMDA Data, 2006
In 2006, Choice Capital Funding Inc. of Alpharetta, GA reported 3,751 mortgage applications totaling $571.7 million, down 10% from 2005. The average application was for $152,414, and applicants reported an average income of $74,998. 42% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (505), Chattanooga, TN-GA (146) and St. Louis, MO-IL (79) (applications in parentheses).
| Mortgage Company & Address | Choice Capital Funding Inc. 223 Roswell Street Suite 100 Alpharetta, GA 30004 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 3,751 |
| Total Mortgage Loan Application Amount | $571,707,000 |
| Average Mortgage Loan Application Amount | $152,414 |
| Highest Mortgage Loan Application Amount | $994,000 |
| Average Applicant Income | $74,998 |
| Highest Applicant Income | $780,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Choice Capital Funding Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Choice Capital Funding Inc. 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 2,252 | $336,463,000 | $149,000 | $940,000 | $73,000 | $780,000 |
| Refinancing | 1,499 | $235,244,000 | $156,000 | $994,000 | $78,000 | $706,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 1,688 | $245,981,000 | $145,000 | $940,000 | $75,000 | $730,000 |
| Black or African American | 1,212 | $187,291,000 | $154,000 | $745,000 | $73,000 | $672,000 |
| Not Provided | 517 | $74,250,000 | $143,000 | $994,000 | $68,000 | $780,000 |
| Hispanic | 225 | $43,679,000 | $194,000 | $650,000 | $86,000 | $240,000 |
| Asian | 60 | $12,603,000 | $210,000 | $640,000 | $110,000 | $612,000 |
| Native Hawaiian or Other Pacific Islander | 27 | $4,749,000 | $175,000 | $548,000 | $104,000 | $300,000 |
| American Indian or Alaskan Native | 22 | $3,154,000 | $143,000 | $595,000 | $82,000 | $204,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 3,751 | $571,707,000 | $152,000 | $994,000 | $75,000 | $780,000 |
| 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 Withdrawn By Applicant | 1,611 | $255,653,000 | $158,000 | $940,000 | $75,000 | $636,000 |
| Loan Originated | 1,560 | $212,259,000 | $136,000 | $840,000 | $73,000 | $780,000 |
| Application Denied By Financial Institution | 551 | $98,949,000 | $179,000 | $994,000 | $80,000 | $672,000 |
| File Closed For Incompleteness | 29 | $4,846,000 | $167,000 | $600,000 | $66,000 | $216,000 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Other | 234 | $43,030,000 | $183,000 | $994,000 | $87,000 | $582,000 |
| Credit History | 152 | $24,979,000 | $164,000 | $850,000 | $71,000 | $672,000 |
| Collateral | 61 | $13,010,000 | $213,000 | $650,000 | $89,000 | $216,000 |
| Debt-To-Income Ratio | 55 | $8,951,000 | $162,000 | $392,000 | $60,000 | $227,000 |
| Employment History | 20 | $3,500,000 | $175,000 | $434,000 | $72,000 | $212,000 |
| Unverifiable Information | 15 | $3,851,000 | $256,000 | $625,000 | $125,000 | $480,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 11 | $1,083,000 | $98,000 | $206,000 | $46,000 | $86,000 |
| Credit Application Incomplete | 2 | $256,000 | $128,000 | $150,000 | $24,000 | $25,000 |
| Mortgage Insurance Denied | 1 | $289,000 | $289,000 | $289,000 | $81,000 | $81,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Choice Capital Funding Inc.'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 Choice Capital Funding 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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