Crump Mortgage & Funding Corp Mortgage Lending & HMDA Data, 2003
In 2003, Crump Mortgage & Funding Corp of Memphis, TN reported 594 mortgage applications totaling $85.3 million. The average application was for $143,621, and applicants reported an average income of $63,259. 60% of its applications resulted in an originated loan and 27% were denied. Its largest markets were Memphis, TN-AR-MS (322) and Nashville, TN (1).
| Mortgage Company & Address | Crump Mortgage & Funding Corp 684 W. Brookhaven Circle 2nd Fl Memphis, TN 38117 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 2003 |
| Total Number of Mortgage Applications | 594 |
| Total Mortgage Loan Application Amount | $85,311,000 |
| Average Mortgage Loan Application Amount | $143,621 |
| Highest Mortgage Loan Application Amount | $650,000 |
| Average Applicant Income | $63,259 |
| Highest Applicant Income | $340,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Crump Mortgage & Funding Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Crump Mortgage & Funding Corp in 2003
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 (one-to-four family) | 424 | $60,380,000 | $131,666 | $650,000 | $66,666 | $300,000 |
| Refinancing (home purchase or home improvement, one-to-four family) | 170 | $24,931,000 | $214,333 | $615,000 | $120,666 | $340,000 |
| Home Improvement (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 463 | $67,865,000 | $163,666 | $615,000 | $83,333 | $340,000 |
| Black | 93 | $11,356,000 | $142,000 | $278,000 | $54,000 | $207,000 |
| Information not provided by applicant in mail or telephone application | 12 | $1,834,000 | $158,000 | $350,000 | $102,000 | $216,000 |
| Hispanic | 11 | $1,689,000 | $188,000 | $313,000 | $65,000 | $135,000 |
| Asian or Pacific Islander | 9 | $1,271,000 | $141,000 | $243,000 | $45,000 | $99,000 |
| Other | 5 | $1,156,000 | $231,000 | $650,000 | $117,000 | $300,000 |
| American Indian or Alaskan Native | 1 | $140,000 | $140,000 | $140,000 | $49,000 | $49,000 |
| 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) | 455 | $69,142,000 | $163,000 | $650,000 | $87,666 | $340,000 |
| FHA-insured (Federal Housing Administration) | 106 | $10,973,000 | $107,500 | $221,000 | $41,500 | $95,000 |
| VA-guaranteed (Veterans Administration) | 33 | $5,196,000 | $158,000 | $252,000 | $64,500 | $142,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 357 | $52,883,000 | $146,500 | $615,000 | $65,500 | $340,000 |
| Application Denied By Financial Institution | 159 | $20,119,000 | $151,666 | $369,000 | $78,333 | $224,000 |
| Application Withdrawn By Applicant | 74 | $11,345,000 | $130,500 | $650,000 | $71,500 | $300,000 |
| File Closed For Incompleteness | 3 | $743,000 | $247,000 | $360,000 | $53,000 | $77,000 |
| Application Approved But Not Accepted | 1 | $221,000 | $221,000 | $221,000 | $58,000 | $58,000 |
| Loan Purchased By The 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 | 112 | $14,426,000 | $178,333 | $369,000 | $95,333 | $224,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 17 | $2,079,000 | $122,000 | $216,000 | $37,000 | $102,000 |
| Other | 9 | $887,000 | $105,500 | $140,000 | $69,500 | $207,000 |
| Unverifiable Information | 8 | $926,000 | $115,000 | $205,000 | $53,000 | $197,000 |
| Debt-To-Income Ratio | 4 | $401,000 | $93,666 | $158,000 | $38,333 | $72,000 |
| Employment History | 4 | $936,000 | $179,000 | $307,000 | $52,500 | $100,000 |
| Credit Application Incomplete | 3 | $323,000 | $107,000 | $120,000 | $55,000 | $66,000 |
| Collateral | 2 | $141,000 | $70,000 | $79,000 | $35,000 | $48,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Crump Mortgage & Funding Corp's 2003 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 Crump Mortgage & Funding Corp'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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