Equifirst Corporation Mortgage Lending & HMDA Data, 2003
In 2003, Equifirst Corporation of Charlotte, NC reported 41,659 mortgage applications totaling $5.5 billion. The average application was for $131,373, and applicants reported an average income of $55,368. 44% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Detroit, MI (1,326), Atlanta, GA (1,100) and Houston, TX (951) (applications in parentheses).
| Mortgage Company & Address | Equifirst Corporation 13000 S Tryon St, Ste F, Pmb 317 Charlotte, NC 28278 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 41,659 |
| Total Mortgage Loan Application Amount | $5,472,907,000 |
| Average Mortgage Loan Application Amount | $131,373 |
| Highest Mortgage Loan Application Amount | $713,000 |
| Average Applicant Income | $55,368 |
| Highest Applicant Income | $3,006,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Equifirst Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Equifirst Corporation 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) | 27,021 | $3,649,612,000 | $142,733 | $713,000 | $58,044 | $727,000 |
| Home Purchase (one-to-four family) | 14,638 | $1,823,295,000 | $135,800 | $600,000 | $55,422 | $3,006,000 |
| 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 | 27,893 | $3,704,557,000 | $142,133 | $713,000 | $58,133 | $3,006,000 |
| Black | 7,387 | $899,435,000 | $135,214 | $600,000 | $54,261 | $396,000 |
| Hispanic | 2,975 | $369,718,000 | $137,450 | $500,000 | $51,950 | $600,000 |
| Information not provided by applicant in mail or telephone application | 2,393 | $337,631,000 | $139,785 | $570,000 | $57,904 | $314,000 |
| Asian or Pacific Islander | 528 | $88,994,000 | $161,250 | $540,000 | $63,900 | $484,000 |
| Other | 309 | $50,726,000 | $162,555 | $500,000 | $62,722 | $442,000 |
| American Indian or Alaskan Native | 174 | $21,846,000 | $128,828 | $350,000 | $53,857 | $293,000 |
| 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) | 41,659 | $5,472,907,000 | $139,822 | $713,000 | $56,688 | $3,006,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 18,270 | $2,356,413,000 | $138,444 | $595,000 | $56,866 | $643,000 |
| Loan Purchased By The Institution | 10,300 | $1,404,745,000 | $137,782 | $570,000 | $54,695 | $518,000 |
| File Closed For Incompleteness | 6,844 | $909,623,000 | $141,093 | $600,000 | $59,813 | $532,000 |
| Application Denied By Financial Institution | 5,535 | $705,885,000 | $136,955 | $713,000 | $55,933 | $3,006,000 |
| Application Approved But Not Accepted | 710 | $96,241,000 | $141,761 | $436,000 | $59,309 | $282,000 |
| Application Withdrawn By Applicant | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 2,366 | $320,525,000 | $148,045 | $713,000 | $44,159 | $505,000 |
| Credit History | 1,631 | $189,206,000 | $124,809 | $500,000 | $60,119 | $379,000 |
| Collateral | 695 | $84,377,000 | $126,395 | $500,000 | $67,279 | $3,006,000 |
| Other | 598 | $81,649,000 | $145,523 | $584,000 | $68,428 | $583,000 |
| Employment History | 157 | $20,186,000 | $133,687 | $384,000 | $62,187 | $288,000 |
| Unverifiable Information | 61 | $6,422,000 | $104,444 | $310,000 | $53,333 | $135,000 |
| 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 Equifirst Corporation'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 Equifirst Corporation'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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