E*Trade Bank Mortgage Lending & HMDA Data, 2003
In 2003, E*Trade Bank of Arlington, VA reported 88,758 mortgage applications totaling $20.6 billion. The average application was for $231,892, and applicants reported an average income of $95,771. 45% of its applications resulted in an originated loan and 20% were denied. Its largest markets were Los Angeles-Long Beach, CA (10,693), Orange County, CA (6,440) and Riverside-San Bernardino, CA (4,111) (applications in parentheses).
| Mortgage Company & Address | E*Trade Bank 671 North Glebe Rd, 12th Floor Arlington, VA 22203 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 | 88,758 |
| Total Mortgage Loan Application Amount | $20,582,280,000 |
| Average Mortgage Loan Application Amount | $231,892 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $95,771 |
| Highest Applicant Income | $7,200,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records E*Trade Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 E*Trade Bank 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) | 74,372 | $16,868,158,000 | $197,470 | $1,500,000 | $116,176 | $7,200,000 |
| Home Purchase (one-to-four family) | 14,386 | $3,714,122,000 | $209,711 | $1,463,000 | $114,596 | $6,300,000 |
| 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 |
|---|---|---|---|---|---|---|
| Information not provided by applicant in mail or telephone application | 51,398 | $11,386,901,000 | $189,173 | $1,500,000 | $124,653 | $7,200,000 |
| White | 29,156 | $7,339,777,000 | $214,431 | $1,500,000 | $108,901 | $6,600,000 |
| Hispanic | 3,242 | $621,561,000 | $173,547 | $1,000,000 | $78,047 | $1,200,000 |
| Asian or Pacific Islander | 3,192 | $894,340,000 | $216,454 | $1,400,000 | $106,681 | $1,200,000 |
| Black | 1,386 | $236,877,000 | $165,815 | $1,200,000 | $72,000 | $600,000 |
| Other | 233 | $68,436,000 | $282,074 | $1,000,000 | $150,000 | $1,381,000 |
| American Indian or Alaskan Native | 137 | $32,906,000 | $192,111 | $890,000 | $90,925 | $600,000 |
| Not applicable | 14 | $1,482,000 | $108,750 | $242,000 | $37,250 | $54,000 |
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) | 80,360 | $19,675,474,000 | $208,615 | $1,500,000 | $123,384 | $7,200,000 |
| FHA-insured (Federal Housing Administration) | 8,398 | $906,806,000 | $106,685 | $424,000 | $485 | $340,000 |
| 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 | 39,780 | $8,744,601,000 | $180,160 | $1,000,000 | $92,760 | $1,324,000 |
| Application Denied By Financial Institution | 17,351 | $3,570,610,000 | $174,568 | $1,000,000 | $94,137 | $7,200,000 |
| Loan Purchased By The Institution | 17,239 | $5,316,471,000 | $289,294 | $1,500,000 | $158,137 | $6,600,000 |
| Application Withdrawn By Applicant | 6,552 | $1,326,270,000 | $178,352 | $1,000,000 | $197,882 | $7,200,000 |
| File Closed For Incompleteness | 4,078 | $810,202,000 | $172,940 | $1,000,000 | $95,900 | $6,600,000 |
| Application Approved But Not Accepted | 3,758 | $814,126,000 | $182,416 | $1,000,000 | $94,333 | $2,400,000 |
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 Application Incomplete | 7,882 | $1,682,582,000 | $176,500 | $1,000,000 | $107,080 | $7,200,000 |
| Credit History | 3,436 | $619,534,000 | $152,460 | $1,000,000 | $81,420 | $3,715,000 |
| Debt-To-Income Ratio | 2,225 | $516,719,000 | $187,812 | $1,000,000 | $69,166 | $1,920,000 |
| Collateral | 1,700 | $368,605,000 | $189,200 | $1,000,000 | $101,040 | $2,340,000 |
| Other | 1,086 | $157,624,000 | $172,255 | $1,000,000 | $70,906 | $708,000 |
| Unverifiable Information | 478 | $100,539,000 | $209,475 | $650,000 | $122,900 | $1,944,000 |
| Employment History | 344 | $74,905,000 | $182,950 | $1,000,000 | $109,575 | $1,200,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 190 | $47,122,000 | $194,200 | $792,000 | $121,000 | $1,200,000 |
| Mortgage Insurance Denied | 10 | $2,980,000 | $305,571 | $556,000 | $124,571 | $251,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into E*Trade Bank'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 E*Trade Bank'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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