Equifirst Corporation Mortgage Lending & HMDA Data, 2004
In 2004, Equifirst Corporation of Charlotte, NC reported 60,867 mortgage applications totaling $8.8 billion, up 46% from 2003. The average application was for $144,289, and applicants reported an average income of $59,414. 53% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (2,024), Chicago-Naperville-Joliet, IL (1,747) and Virginia Beach-Norfolk-Newport News, VA-NC (1,508) (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 | 60,867 |
| Total Mortgage Loan Application Amount | $8,782,451,000 |
| Average Mortgage Loan Application Amount | $144,289 |
| Highest Mortgage Loan Application Amount | $850,000 |
| Average Applicant Income | $59,414 |
| Highest Applicant Income | $5,434,000 |
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(HMDA) records Equifirst Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 |
|---|---|---|---|---|---|---|
| Refinancing | 35,918 | $5,382,098,000 | $148,488 | $785,000 | $59,288 | $5,434,000 |
| Home Purchase | 22,816 | $3,079,507,000 | $136,127 | $850,000 | $57,574 | $4,225,000 |
| Home Improvement | 2,133 | $320,846,000 | $141,681 | $623,000 | $56,636 | $1,062,000 |
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 | 38,427 | $5,554,590,000 | $147,212 | $792,000 | $59,510 | $5,434,000 |
| Black or African American | 12,469 | $1,638,976,000 | $136,441 | $850,000 | $54,697 | $1,068,000 |
| Hispanic | 6,342 | $957,794,000 | $133,577 | $674,000 | $53,733 | $4,225,000 |
| Not Provided | 2,102 | $332,533,000 | $144,840 | $850,000 | $60,522 | $667,000 |
| Asian | 1,048 | $213,284,000 | $164,097 | $698,000 | $68,804 | $811,000 |
| American Indian or Alaskan Native | 253 | $36,287,000 | $139,100 | $456,000 | $56,025 | $501,000 |
| Native Hawaiian or Other Pacific Islander | 223 | $48,753,000 | $174,882 | $625,000 | $77,588 | $2,632,000 |
| Not applicable | 3 | $234,000 | $78,000 | $104,000 | $51,666 | $63,000 |
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) | 60,867 | $8,782,451,000 | $144,255 | $850,000 | $58,000 | $5,434,000 |
| 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 | 32,211 | $4,630,319,000 | $145,217 | $731,000 | $57,434 | $3,446,000 |
| File Closed For Incompleteness | 11,747 | $1,719,228,000 | $146,222 | $750,000 | $63,955 | $5,434,000 |
| Application Denied By Financial Institution | 9,554 | $1,398,382,000 | $139,911 | $850,000 | $56,244 | $4,225,000 |
| Loan Purchased By The Institution | 6,148 | $849,768,000 | $135,541 | $650,000 | $53,458 | $1,653,000 |
| Application Approved But Not Accepted | 1,207 | $184,754,000 | $149,744 | $625,000 | $62,581 | $1,062,000 |
| Application Withdrawn By Applicant | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 3,896 | $604,083,000 | $149,727 | $750,000 | $46,113 | $764,000 |
| Credit History | 3,066 | $414,524,000 | $130,409 | $850,000 | $59,454 | $564,000 |
| Other | 1,161 | $190,034,000 | $154,933 | $850,000 | $73,044 | $4,225,000 |
| Collateral | 1,100 | $144,497,000 | $123,883 | $580,000 | $61,976 | $1,134,000 |
| Employment History | 251 | $35,038,000 | $144,076 | $640,000 | $60,487 | $480,000 |
| Unverifiable Information | 79 | $10,100,000 | $115,760 | $415,000 | $55,960 | $265,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $106,000 | $106,000 | $106,000 | $26,000 | $26,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Equifirst Corporation'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 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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