Countrywide Home Loans Mortgage Lending & HMDA Data, 2008
In 2008, Countrywide Home Loans of Westlake Village, CA reported 75,153 mortgage applications totaling $16.2 billion, down 97% from 2007. The average application was for $215,012, and applicants reported an average income of $87,616. 3% of its applications resulted in an originated loan and 30% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (3,068), Los Angeles-Long Beach-Glendale, CA (2,696) and Houston-Sugar Land-Baytown, TX (2,196) (applications in parentheses).
| Mortgage Company & Address | Countrywide Home Loans 30930 Russell Ranch Road Ms Wlrr-148 Westlake Village, CA 91362 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 75,153 |
| Total Mortgage Loan Application Amount | $16,158,865,000 |
| Average Mortgage Loan Application Amount | $215,012 |
| Highest Mortgage Loan Application Amount | $9,750,000 |
| Average Applicant Income | $87,616 |
| Highest Applicant Income | $9,999,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Countrywide Home Loans filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Countrywide Home Loans in 2008
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 | 42,158 | $9,269,667,000 | $219,000 | $9,750,000 | $86,000 | $9,999,000 |
| Home Purchase | 31,496 | $6,591,797,000 | $209,000 | $6,000,000 | $90,000 | $9,999,000 |
| Home Improvement | 1,499 | $297,401,000 | $198,000 | $3,800,000 | $83,000 | $4,500,000 |
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 |
|---|---|---|---|---|---|---|
| White | 40,784 | $8,711,219,000 | $213,000 | $6,000,000 | $93,000 | $9,999,000 |
| Not Provided | 11,035 | $2,427,430,000 | $219,000 | $9,750,000 | $89,000 | $9,999,000 |
| Hispanic | 10,171 | $2,203,851,000 | $216,000 | $2,500,000 | $74,000 | $2,000,000 |
| Black or African American | 9,232 | $1,687,280,000 | $182,000 | $2,923,000 | $65,000 | $1,537,000 |
| Asian | 3,131 | $954,105,000 | $304,000 | $5,000,000 | $123,000 | $2,112,000 |
| Native Hawaiian or Other Pacific Islander | 423 | $107,293,000 | $253,000 | $974,000 | $87,000 | $959,000 |
| American Indian or Alaskan Native | 377 | $67,687,000 | $179,000 | $727,000 | $99,000 | $9,999,000 |
| 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) | 44,448 | $10,957,338,000 | $246,000 | $9,750,000 | $109,000 | $9,999,000 |
| FHA-insured (Federal Housing Administration) | 26,553 | $4,407,554,000 | $165,000 | $685,000 | $57,000 | $9,999,000 |
| VA-guaranteed (Veterans Administration) | 3,751 | $746,256,000 | $198,000 | $649,000 | $59,000 | $434,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 401 | $47,717,000 | $118,000 | $325,000 | $40,000 | $103,000 |
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 Purchased By The Institution | 37,091 | $6,822,067,000 | $183,000 | $4,714,000 | $68,000 | $9,999,000 |
| Application Denied By Financial Institution | 22,742 | $5,770,663,000 | $253,000 | $9,750,000 | $107,000 | $9,999,000 |
| Application Withdrawn By Applicant | 9,773 | $2,357,825,000 | $241,000 | $5,550,000 | $114,000 | $5,040,000 |
| Application Approved But Not Accepted | 2,653 | $632,183,000 | $238,000 | $2,296,000 | $108,000 | $1,664,000 |
| Loan Originated | 2,478 | $474,951,000 | $191,000 | $820,000 | $79,000 | $900,000 |
| File Closed For Incompleteness | 393 | $95,597,000 | $243,000 | $2,000,000 | $130,000 | $9,999,000 |
| Preapproval Denied by Financial Institution | 23 | $5,579,000 | $242,000 | $824,000 | $115,000 | $450,000 |
| Preapproval 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 |
|---|---|---|---|---|---|---|
| Collateral | 7,283 | $1,815,954,000 | $249,000 | $3,800,000 | $107,000 | $3,000,000 |
| Other | 3,931 | $997,938,000 | $253,000 | $6,000,000 | $115,000 | $3,611,000 |
| Credit Application Incomplete | 3,623 | $1,047,556,000 | $289,000 | $5,000,000 | $122,000 | $9,999,000 |
| Unverifiable Information | 3,178 | $899,715,000 | $283,000 | $9,750,000 | $122,000 | $3,673,000 |
| Debt-To-Income Ratio | 2,231 | $504,663,000 | $226,000 | $4,000,000 | $76,000 | $1,550,000 |
| Credit History | 1,500 | $286,203,000 | $190,000 | $2,000,000 | $75,000 | $850,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 702 | $157,568,000 | $224,000 | $2,500,000 | $97,000 | $1,469,000 |
| Employment History | 261 | $55,168,000 | $211,000 | $1,139,000 | $87,000 | $850,000 |
| Mortgage Insurance Denied | 56 | $11,477,000 | $204,000 | $680,000 | $76,000 | $222,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Countrywide Home Loans's 2008 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 Countrywide Home Loans'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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with aggregated HMDA statistics today.
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