D & R Mortgage Corp Mortgage Lending & HMDA Data, 2004
In 2004, D & R Mortgage Corp of Farmington Hills, MI reported 526 mortgage applications totaling $71.3 million, up 51% from 2003. The average application was for $135,612, and applicants reported an average income of $49,718. 57% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Detroit-Livonia-Dearborn, MI (213), Warren-Farmington Hills-Troy, MI (178) 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 | 526 |
| Total Mortgage Loan Application Amount | $71,332,000 |
| Average Mortgage Loan Application Amount | $135,612 |
| Highest Mortgage Loan Application Amount | $780,000 |
| Average Applicant Income | $49,718 |
| Highest Applicant Income | $315,000 |
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Act (HMDA) records D & R Mortgage Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2004
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 | 290 | $37,209,000 | $128,000 | $229,000 | $56,000 | $315,000 |
| Refinancing | 236 | $34,123,000 | $144,000 | $780,000 | $42,000 | $171,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 404 | $56,009,000 | $138,000 | $780,000 | $51,000 | $315,000 |
| Black or African American | 99 | $12,103,000 | $122,000 | $229,000 | $38,000 | $157,000 |
| Hispanic | 14 | $2,033,000 | $145,000 | $224,000 | $43,000 | $92,000 |
| Not Provided | 6 | $666,000 | $111,000 | $181,000 | $56,000 | $103,000 |
| Asian | 3 | $521,000 | $173,000 | $212,000 | $73,000 | $103,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 479 | $63,719,000 | $133,000 | $229,000 | $44,000 | $157,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 47 | $7,613,000 | $161,000 | $780,000 | $63,000 | $315,000 |
| 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 | 298 | $39,400,000 | $132,000 | $279,000 | $46,000 | $157,000 |
| Application Withdrawn By Applicant | 110 | $14,861,000 | $135,000 | $780,000 | $37,000 | $141,000 |
| Application Denied By Financial Institution | 67 | $9,666,000 | $144,000 | $400,000 | $54,000 | $171,000 |
| File Closed For Incompleteness | 36 | $5,046,000 | $140,000 | $229,000 | $57,000 | $315,000 |
| Application Approved But Not Accepted | 15 | $2,359,000 | $157,000 | $229,000 | $53,000 | $98,000 |
| 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 |
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 | 25 | $3,550,000 | $142,000 | $205,000 | $55,000 | $93,000 |
| Collateral | 19 | $2,939,000 | $154,000 | $400,000 | $70,000 | $171,000 |
| Debt-To-Income Ratio | 13 | $1,783,000 | $137,000 | $198,000 | $38,000 | $71,000 |
| Other | 5 | $700,000 | $140,000 | $215,000 | $45,000 | $68,000 |
| Employment History | 2 | $248,000 | $124,000 | $146,000 | $17,000 | $35,000 |
| Unverifiable Information | 1 | $169,000 | $169,000 | $169,000 | $63,000 | $63,000 |
| Credit Application Incomplete | 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 D & R Mortgage Corp's 2004 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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