Choice Mortgage,Inc Mortgage Lending & HMDA Data, 2004
In 2004, Choice Mortgage,Inc of Rowlett, TX reported 35 mortgage applications totaling $5.1 million. The average application was for $145,200, and applicants reported an average income of $63,142. 0% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Dallas-Plano-Irving, TX (15), Fort Worth-Arlington, TX (1) and Tyler, TX (1) (applications in parentheses).
| Mortgage Company & Address | Choice Mortgage,Inc 4501 Rowlett Rd. Suite 105 Rowlett, TX 75088 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 |
| Total Number of Mortgage Applications | 35 |
| Total Mortgage Loan Application Amount | $5,082,000 |
| Average Mortgage Loan Application Amount | $145,200 |
| Highest Mortgage Loan Application Amount | $366,000 |
| Average Applicant Income | $63,142 |
| Highest Applicant Income | $300,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Choice Mortgage,Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mortgage,Inc in 2004
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 | 24 | $3,290,000 | $125,500 | $366,000 | $46,000 | $116,000 |
| Refinancing | 11 | $1,792,000 | $181,000 | $293,000 | $94,000 | $300,000 |
| 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 | 18 | $2,757,000 | $154,000 | $366,000 | $68,000 | $300,000 |
| Not Provided | 11 | $1,521,000 | $119,000 | $309,000 | $46,500 | $116,000 |
| Black or African American | 5 | $655,000 | $158,000 | $204,000 | $68,000 | $88,000 |
| Hispanic | 1 | $149,000 | $149,000 | $149,000 | $37,000 | $37,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 26 | $3,969,000 | $164,500 | $366,000 | $73,500 | $300,000 |
| FHA-insured (Federal Housing Administration) | 8 | $935,000 | $107,500 | $171,000 | $38,000 | $68,000 |
| VA-guaranteed (Veterans Administration) | 1 | $178,000 | $178,000 | $178,000 | $83,000 | $83,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 32 | $4,633,000 | $136,500 | $366,000 | $64,500 | $300,000 |
| Application Denied By Financial Institution | 2 | $291,000 | $145,500 | $155,000 | $47,500 | $57,000 |
| File Closed For Incompleteness | 1 | $158,000 | $158,000 | $158,000 | $68,000 | $68,000 |
| Loan Originated | 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 |
| Application 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 | 1 | $155,000 | $155,000 | $155,000 | $57,000 | $57,000 |
| 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Choice Mortgage,Inc's 2004 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 Mortgage,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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