Cooperativa De A/C Morovena Mortgage Lending & HMDA Data, 2016
In 2016, Cooperativa De A/C Morovena of Morovis, PR reported 13 mortgage applications totaling $1.0 million, down 35% from 2015. The average application was for $77,923, and applicants reported an average income of $27,461. 8% of its applications resulted in an originated loan and 92% were denied. Its largest markets were San Juan-Caguas-Guaynabo, PR (12) and Arecibo, PR (1).
| Mortgage Company & Address | Cooperativa De A/C Morovena Po Box 577 Morovis, PR 00687 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 2009 2008 |
| Total Number of Mortgage Applications | 13 |
| Total Mortgage Loan Application Amount | $1,013,000 |
| Average Mortgage Loan Application Amount | $77,923 |
| Highest Mortgage Loan Application Amount | $130,000 |
| Average Applicant Income | $27,461 |
| Highest Applicant Income | $112,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cooperativa De A/C Morovena filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Cooperativa De A/C Morovena 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 | 7 | $445,000 | $63,000 | $82,000 | $33,000 | $112,000 |
| Home Purchase | 6 | $568,000 | $94,000 | $130,000 | $21,000 | $27,000 |
| 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 | 12 | $968,000 | $80,000 | $130,000 | $27,000 | $112,000 |
| Not Provided | 1 | $45,000 | $45,000 | $45,000 | $23,000 | $23,000 |
| White | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiin 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) | 13 | $1,013,000 | $77,000 | $130,000 | $27,000 | $112,000 |
| 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 Denied By Financial Institution | 12 | $931,000 | $77,000 | $130,000 | $20,000 | $27,000 |
| Loan Originated | 1 | $82,000 | $82,000 | $82,000 | $112,000 | $112,000 |
| 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 Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 7 | $599,000 | $85,000 | $130,000 | $21,000 | $27,000 |
| Other | 3 | $163,000 | $54,000 | $63,000 | $18,000 | $23,000 |
| Collateral | 1 | $97,000 | $97,000 | $97,000 | $22,000 | $22,000 |
| Credit History | 1 | $72,000 | $72,000 | $72,000 | $19,000 | $19,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cooperativa De A/C Morovena'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 Morovena'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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