D & R Mortgage Corp Mortgage Lending & HMDA Data, 2005
In 2005, D & R Mortgage Corp of Farmington Hills, MI reported 426 mortgage applications totaling $61.8 million, down 19% from 2004. The average application was for $145,159, and applicants reported an average income of $54,981. 60% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Warren-Farmington Hills-Troy, MI (141), Detroit-Livonia-Dearborn, MI (139) and Tampa-St. Petersburg-Clearwater, FL (14) (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 | 426 |
| Total Mortgage Loan Application Amount | $61,838,000 |
| Average Mortgage Loan Application Amount | $145,159 |
| Highest Mortgage Loan Application Amount | $462,000 |
| Average Applicant Income | $54,981 |
| Highest Applicant Income | $258,000 |
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Act (HMDA) records D & R Mortgage Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2005
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 | 227 | $32,413,000 | $131,333 | $238,000 | $51,666 | $151,000 |
| Refinancing | 198 | $29,301,000 | $139,333 | $462,000 | $71,333 | $258,000 |
| Home Improvement | 1 | $124,000 | $124,000 | $124,000 | $84,000 | $84,000 |
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 | 360 | $53,139,000 | $133,666 | $462,000 | $58,333 | $258,000 |
| Black or African American | 50 | $6,418,000 | $130,500 | $195,000 | $64,000 | $114,000 |
| Hispanic | 7 | $970,000 | $133,500 | $229,000 | $51,000 | $72,000 |
| Not Provided | 7 | $989,000 | $141,000 | $205,000 | $53,000 | $99,000 |
| American Indian or Alaskan Native | 1 | $104,000 | $104,000 | $104,000 | $34,000 | $34,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $218,000 | $218,000 | $218,000 | $112,000 | $112,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 390 | $56,627,000 | $134,333 | $229,000 | $58,000 | $151,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 36 | $5,211,000 | $132,500 | $462,000 | $58,000 | $258,000 |
| 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 | 255 | $36,123,000 | $135,000 | $276,000 | $63,000 | $150,000 |
| Application Withdrawn By Applicant | 85 | $13,039,000 | $161,500 | $369,000 | $59,000 | $258,000 |
| Application Denied By Financial Institution | 58 | $8,118,000 | $128,000 | $229,000 | $44,666 | $106,000 |
| File Closed For Incompleteness | 16 | $2,717,000 | $128,000 | $462,000 | $58,000 | $198,000 |
| Application Approved But Not Accepted | 12 | $1,841,000 | $153,000 | $239,000 | $55,000 | $93,000 |
| 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 | 28 | $3,990,000 | $146,000 | $229,000 | $62,500 | $105,000 |
| Other | 12 | $1,610,000 | $152,000 | $212,000 | $22,000 | $96,000 |
| Debt-To-Income Ratio | 9 | $1,072,000 | $109,666 | $166,000 | $37,666 | $58,000 |
| Collateral | 7 | $1,139,000 | $162,000 | $212,000 | $78,000 | $106,000 |
| Unverifiable Information | 2 | $307,000 | $153,000 | $223,000 | $46,000 | $60,000 |
| 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 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into D & R Mortgage Corp's 2005 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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