Coop Ahorro Y Credito De Lares Mortgage Lending & HMDA Data, 2004
In 2004, Coop Ahorro Y Credito De Lares of Lares, PR reported 70 mortgage applications totaling $4.3 million, down 1% from 2003. The average application was for $61,128, and applicants reported an average income of $32,071. 91% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Aguadilla-Isabela-San Sebastian, PR (45), San Juan-Caguas-Guaynabo, PR (4) and Mayaguez, PR (1) (applications in parentheses).
| Mortgage Company & Address | Coop Ahorro Y Credito De Lares Ave.Los Patriotas C/111 Km 8.3 Lares, PR 00669 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 | 70 |
| Total Mortgage Loan Application Amount | $4,279,000 |
| Average Mortgage Loan Application Amount | $61,128 |
| Highest Mortgage Loan Application Amount | $149,000 |
| Average Applicant Income | $32,071 |
| Highest Applicant Income | $159,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Coop Ahorro Y Credito De Lares filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Coop Ahorro Y Credito De Lares 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 |
|---|---|---|---|---|---|---|
| Refinancing | 54 | $3,450,000 | $63,000 | $149,000 | $28,000 | $158,000 |
| Home Purchase | 15 | $754,000 | $50,000 | $125,000 | $45,000 | $159,000 |
| Home Improvement | 1 | $75,000 | $75,000 | $75,000 | $58,000 | $58,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 66 | $4,110,000 | $62,000 | $149,000 | $36,000 | $159,000 |
| Not Provided | 4 | $169,000 | $42,000 | $50,000 | $23,000 | $30,000 |
| White | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| Black or African American | 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) | 70 | $4,279,000 | $61,000 | $149,000 | $34,000 | $159,000 |
| 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 | 64 | $3,905,000 | $61,000 | $149,000 | $36,000 | $159,000 |
| Application Denied By Financial Institution | 3 | $193,000 | $64,000 | $80,000 | $25,000 | $30,000 |
| Application Withdrawn By Applicant | 2 | $131,000 | $65,000 | $81,000 | $37,000 | $48,000 |
| Application Approved But Not Accepted | 1 | $50,000 | $50,000 | $50,000 | $17,000 | $17,000 |
| File Closed For Incompleteness | 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 | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Coop Ahorro Y Credito De Lares'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 Coop Ahorro Y Credito De Lares'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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