Cooperativa De A/C Arecibo Mortgage Lending & HMDA Data, 2016
In 2016, Cooperativa De A/C Arecibo of Arecibo, PR reported 82 mortgage applications totaling $8.6 million, up 2% from 2015. The average application was for $105,097, and applicants reported an average income of $43,390. 80% of its applications resulted in an originated loan and 11% were denied. Its largest markets were San Juan-Caguas-Guaynabo, PR (42), Arecibo, PR (28) and Aguadilla-Isabela-San Sebastian, PR (4) (applications in parentheses).
| Mortgage Company & Address | Cooperativa De A/C Arecibo Po Box 1056 Arecibo, PR 00613 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 82 |
| Total Mortgage Loan Application Amount | $8,618,000 |
| Average Mortgage Loan Application Amount | $105,097 |
| Highest Mortgage Loan Application Amount | $298,000 |
| Average Applicant Income | $43,390 |
| Highest Applicant Income | $123,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cooperativa De A/C Arecibo filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Arecibo, Puerto Rico | 19 | $ 1,829,000 | $ 96,263 | $ 49,000 |
| San Juan, Puerto Rico | 9 | $ 1,293,000 | $ 143,666 | $ 43,000 |
| Toa Baja, Puerto Rico | 6 | $ 647,000 | $ 107,833 | $ 39,000 |
| Carolina, Puerto Rico | 5 | $ 470,000 | $ 94,000 | $ 36,000 |
| Manati, Puerto Rico | 4 | $ 341,000 | $ 85,250 | $ 32,000 |
| Ponce, Puerto Rico | 4 | $ 260,000 | $ 65,000 | $ 39,000 |
| Bayamon, Puerto Rico | 3 | $ 108,000 | $ 36,000 | $ 41,000 |
| Caguas, Puerto Rico | 3 | $ 289,000 | $ 96,333 | $ 47,000 |
| Camuy, Puerto Rico | 3 | $ 289,000 | $ 96,333 | $ 40,000 |
| Hatillo, Puerto Rico | 3 | $ 620,000 | $ 206,666 | $ 73,000 |
| Quebradillas, Puerto Rico | 3 | $ 254,000 | $ 84,666 | $ 34,000 |
| Vega Alta, Puerto Rico | 3 | $ 369,000 | $ 123,000 | $ 32,000 |
| Barceloneta, Puerto Rico | 2 | $ 180,000 | $ 90,000 | $ 16,000 |
| Lajas, Puerto Rico | 2 | $ 199,000 | $ 99,500 | $ 48,000 |
| San Lorenzo, Puerto Rico | 2 | $ 266,000 | $ 133,000 | $ 33,000 |
| San Sebastian, Puerto Rico | 2 | $ 161,000 | $ 80,500 | $ 36,000 |
| Trujillo Alto, Puerto Rico | 2 | $ 195,000 | $ 97,500 | $ 45,000 |
| Canovanas, Puerto Rico | 1 | $ 80,000 | $ 80,000 | $ 36,000 |
| Dorado, Puerto Rico | 1 | $ 110,000 | $ 110,000 | $ 23,000 |
| Guayama, Puerto Rico | 1 | $ 123,000 | $ 123,000 | $ 122,000 |
| Isabela, Puerto Rico | 1 | $ 298,000 | $ 298,000 | $ 101,000 |
| Lares, Puerto Rico | 1 | $ 98,000 | $ 98,000 | $ 37,000 |
| Sabana Grande, Puerto Rico | 1 | $ 35,000 | $ 35,000 | $ 25,000 |
| Yabucoa, Puerto Rico | 1 | $ 104,000 | $ 104,000 | $ 35,000 |
Mortgage Loan Application Detail Totals for Cooperativa De A/C Arecibo in 2016
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 | 50 | $5,346,000 | $106,000 | $297,000 | $43,000 | $122,000 |
| Home Purchase | 32 | $3,272,000 | $102,000 | $298,000 | $44,000 | $123,000 |
| 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 |
|---|---|---|---|---|---|---|
| Hispanic | 82 | $8,618,000 | $105,000 | $298,000 | $43,000 | $123,000 |
| Native Hawaiin or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| White | 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) | 76 | $7,920,000 | $104,000 | $298,000 | $44,000 | $123,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 4 | $385,000 | $96,000 | $125,000 | $27,000 | $48,000 |
| VA-guaranteed (Veterans Administration) | 2 | $313,000 | $156,000 | $160,000 | $33,000 | $35,000 |
| FHA-insured (Federal Housing 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 | 66 | $6,843,000 | $103,000 | $298,000 | $42,000 | $123,000 |
| Application Denied By Financial Institution | 9 | $1,064,000 | $118,000 | $250,000 | $57,000 | $105,000 |
| Application Withdrawn By Applicant | 7 | $711,000 | $101,000 | $170,000 | $40,000 | $81,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 5 | $421,000 | $84,000 | $166,000 | $52,000 | $92,000 |
| Debt-To-Income Ratio | 3 | $393,000 | $131,000 | $140,000 | $51,000 | $67,000 |
| Collateral | 1 | $250,000 | $250,000 | $250,000 | $105,000 | $105,000 |
| Credit Application Incomplete | 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 Cooperativa De A/C Arecibo's 2016 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 Cooperativa De A/C Arecibo'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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