D & R Mortgage Corp Mortgage Lending & HMDA Data, 2003
In 2003, D & R Mortgage Corp of Farmington Hills, MI reported 349 mortgage applications totaling $46.2 million. The average application was for $132,306, and applicants reported an average income of $52,080. 65% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Detroit, MI (254), Ann Arbor, MI (18) and Flint, MI (13) (applications in parentheses).
| Mortgage Company & Address | D & R Mortgage Corp 29870 Middlebelt Road Farmington Hills, MI 48334 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 349 |
| Total Mortgage Loan Application Amount | $46,175,000 |
| Average Mortgage Loan Application Amount | $132,306 |
| Highest Mortgage Loan Application Amount | $504,000 |
| Average Applicant Income | $52,080 |
| Highest Applicant Income | $356,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records D & R Mortgage Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 D & R Mortgage 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 |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 192 | $24,826,000 | $119,000 | $504,000 | $50,000 | $356,000 |
| Home Purchase (one-to-four family) | 157 | $21,349,000 | $155,000 | $324,000 | $60,500 | $222,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement (one-to-four family) | 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 | 275 | $36,766,000 | $121,000 | $348,000 | $54,000 | $356,000 |
| Black | 58 | $6,751,000 | $116,000 | $268,000 | $33,000 | $111,000 |
| Information not provided by applicant in mail or telephone application | 10 | $1,343,000 | $134,000 | $178,000 | $34,000 | $76,000 |
| Asian or Pacific Islander | 3 | $494,000 | $167,000 | $179,000 | $59,000 | $68,000 |
| Hispanic | 2 | $317,000 | $158,000 | $175,000 | $46,000 | $92,000 |
| Other | 1 | $504,000 | $504,000 | $504,000 | $330,000 | $330,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 310 | $39,641,000 | $137,000 | $212,000 | $52,000 | $155,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 39 | $6,534,000 | $167,000 | $504,000 | $91,000 | $356,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 226 | $29,199,000 | $119,000 | $324,000 | $53,500 | $356,000 |
| Application Withdrawn By Applicant | 85 | $11,455,000 | $154,500 | $290,000 | $54,000 | $120,000 |
| Application Denied By Financial Institution | 33 | $4,776,000 | $144,000 | $504,000 | $53,000 | $330,000 |
| Application Approved But Not Accepted | 5 | $745,000 | $149,000 | $175,000 | $66,000 | $80,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 13 | $2,127,000 | $163,000 | $504,000 | $74,000 | $330,000 |
| Credit History | 11 | $1,296,000 | $117,000 | $176,000 | $37,000 | $89,000 |
| Debt-To-Income Ratio | 5 | $745,000 | $149,000 | $175,000 | $48,000 | $76,000 |
| Unverifiable Information | 1 | $81,000 | $81,000 | $81,000 | $40,000 | $40,000 |
| Collateral | 1 | $126,000 | $126,000 | $126,000 | $0 | $0 |
| Mortgage Insurance Denied | 1 | $86,000 | $86,000 | $86,000 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into D & R Mortgage 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 D & R Mortgage 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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