Cunningham & Company Mortgage Lending & HMDA Data, 2003
In 2003, Cunningham & Company of Greensboro, NC reported 3,251 mortgage applications totaling $487.1 million. The average application was for $149,845, and applicants reported an average income of $84,212. 90% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Greensboro--Winston-Salem--High Point, NC (1,300), Asheville, NC (654) and Charlotte-Gastonia-Rock Hill, NC-SC (425) (applications in parentheses).
| Mortgage Company & Address | Cunningham & Company 804 Green Valley Road, Suite 106 Greensboro, NC 27408 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 | 3,251 |
| Total Mortgage Loan Application Amount | $487,148,000 |
| Average Mortgage Loan Application Amount | $149,845 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $84,212 |
| Highest Applicant Income | $2,815,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cunningham & Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Cunningham & Company 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) | 1,714 | $241,817,000 | $164,750 | $893,000 | $90,750 | $1,927,000 |
| Refinancing (home purchase or home improvement, one-to-four family) | 1,537 | $245,331,000 | $163,000 | $1,000,000 | $93,000 | $2,815,000 |
| 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 | 2,961 | $446,801,000 | $171,750 | $1,000,000 | $95,500 | $2,815,000 |
| Black | 107 | $13,427,000 | $120,666 | $413,000 | $60,333 | $398,000 |
| Information not provided by applicant in mail or telephone application | 79 | $13,116,000 | $166,000 | $893,000 | $88,000 | $345,000 |
| Hispanic | 52 | $7,174,000 | $142,500 | $350,000 | $66,000 | $250,000 |
| Asian or Pacific Islander | 35 | $4,152,000 | $114,500 | $230,000 | $59,000 | $132,000 |
| Other | 14 | $2,228,000 | $131,500 | $286,000 | $72,000 | $159,000 |
| American Indian or Alaskan Native | 3 | $250,000 | $83,000 | $90,000 | $45,000 | $82,000 |
| 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) | 2,828 | $438,178,000 | $175,750 | $1,000,000 | $101,000 | $2,815,000 |
| FHA-insured (Federal Housing Administration) | 357 | $39,676,000 | $149,000 | $230,000 | $59,666 | $801,000 |
| VA-guaranteed (Veterans Administration) | 64 | $9,040,000 | $129,333 | $240,000 | $63,666 | $104,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $254,000 | $127,000 | $139,000 | $88,000 | $119,000 |
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 Originated | 2,929 | $440,464,000 | $169,750 | $1,000,000 | $95,500 | $2,815,000 |
| Application Withdrawn By Applicant | 275 | $40,664,000 | $139,500 | $893,000 | $63,500 | $900,000 |
| Application Denied By Financial Institution | 47 | $6,020,000 | $158,333 | $375,000 | $63,000 | $113,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 28 | $3,342,000 | $152,000 | $375,000 | $62,666 | $93,000 |
| Debt-To-Income Ratio | 5 | $879,000 | $151,500 | $237,000 | $47,500 | $67,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $597,000 | $115,000 | $141,000 | $41,000 | $113,000 |
| Collateral | 4 | $547,000 | $136,000 | $266,000 | $57,000 | $94,000 |
| Employment History | 2 | $255,000 | $127,000 | $147,000 | $56,000 | $65,000 |
| Other | 2 | $342,000 | $171,000 | $180,000 | $75,000 | $93,000 |
| Credit Application Incomplete | 1 | $58,000 | $58,000 | $58,000 | $31,000 | $31,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cunningham & Company'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 Cunningham & Company'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.
For a list of all lenders in North Carolina, download the full spreadsheet
with aggregated HMDA statistics today.
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