Equipoint Financial Network Mortgage Lending & HMDA Data, 2008
In 2008, Equipoint Financial Network of San Diego, CA reported 522 mortgage applications totaling $80.2 million, down 77% from 2007. The average application was for $153,678, and applicants reported an average income of $45,988. 44% of its applications resulted in an originated loan and 45% were denied. Its largest markets were Davenport-Moline-Rock Island, IA-IL (148), Kansas City, MO-KS (81) and Wichita, KS (47) (applications in parentheses).
| Mortgage Company & Address | Equipoint Financial Network 3636 Nobel Suite 400 San Diego, CA 92122 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 2008 2007 |
| Total Number of Mortgage Applications | 522 |
| Total Mortgage Loan Application Amount | $80,220,000 |
| Average Mortgage Loan Application Amount | $153,678 |
| Highest Mortgage Loan Application Amount | $595,000 |
| Average Applicant Income | $45,988 |
| Highest Applicant Income | $240,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Equipoint Financial Network filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Davenport-Moline-Rock Island, IA-IL | 148 | $ 16,656,000 | $ 112,540 | $ 42,540 |
| Kansas City, MO-KS | 81 | $ 10,755,000 | $ 132,777 | $ 38,901 |
| Wichita, KS | 47 | $ 6,226,000 | $ 132,468 | $ 42,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 16 | $ 4,683,000 | $ 292,687 | $ 69,000 |
| Los Angeles-Long Beach-Glendale, CA | 15 | $ 5,071,000 | $ 338,066 | $ 63,000 |
| Phoenix-Mesa-Scottsdale, AZ | 15 | $ 2,698,000 | $ 179,866 | $ 43,000 |
| Seattle-Bellevue-Everett, WA | 13 | $ 3,604,000 | $ 277,230 | $ 65,000 |
| Riverside-San Bernardino-Ontario, CA | 9 | $ 2,902,000 | $ 322,444 | $ 75,000 |
| Tacoma, WA | 9 | $ 2,277,000 | $ 253,000 | $ 52,000 |
| Joplin, MO | 7 | $ 503,000 | $ 71,857 | $ 23,000 |
| Cedar Rapids, IA | 5 | $ 655,000 | $ 131,000 | $ 35,000 |
| Des Moines-West Des Moines, IA | 5 | $ 659,000 | $ 131,800 | $ 66,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 5 | $ 1,172,000 | $ 234,400 | $ 71,000 |
| Oakland-Fremont-Hayward, CA | 4 | $ 1,194,000 | $ 298,500 | $ 68,000 |
| Olympia, WA | 4 | $ 1,162,000 | $ 290,500 | $ 106,000 |
| San Diego-Carlsbad-San Marcos, CA | 4 | $ 646,000 | $ 161,500 | $ 67,000 |
| Tampa-St. Petersburg-Clearwater, FL | 3 | $ 584,000 | $ 194,666 | $ 38,000 |
| Chico, CA | 2 | $ 401,000 | $ 200,500 | $ 58,000 |
| Dubuque, IA | 2 | $ 153,000 | $ 76,500 | $ 27,000 |
| Jackson, MS | 2 | $ 282,000 | $ 141,000 | $ 146,000 |
| Lake County-Kenosha County, IL-WI | 2 | $ 422,000 | $ 211,000 | $ 103,000 |
| Lawrence, KS | 2 | $ 327,000 | $ 163,500 | $ 31,000 |
| Miami-Miami Beach-Kendall, FL | 2 | $ 480,000 | $ 240,000 | $ 47,000 |
| Peoria, IL | 2 | $ 218,000 | $ 109,000 | $ 26,000 |
| Topeka, KS | 2 | $ 456,000 | $ 228,000 | $ 55,000 |
| Visalia-Porterville, CA | 2 | $ 419,000 | $ 209,500 | $ 48,000 |
| Atlanta-Sandy Springs-Marietta, GA | 1 | $ 128,000 | $ 128,000 | $ 40,000 |
| Bakersfield, CA | 1 | $ 417,000 | $ 417,000 | $ 0 |
| Bradenton-Sarasota-Venice, FL | 1 | $ 147,000 | $ 147,000 | $ 35,000 |
| Dallas-Plano-Irving, TX | 1 | $ 171,000 | $ 171,000 | $ 78,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 1 | $ 133,000 | $ 133,000 | $ 39,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 300,000 | $ 300,000 | $ 167,000 |
| Hanford-Corcoran, CA | 1 | $ 225,000 | $ 225,000 | $ 78,000 |
| Iowa City, IA | 1 | $ 203,000 | $ 203,000 | $ 42,000 |
| Ogden-Clearfield, UT | 1 | $ 111,000 | $ 111,000 | $ 19,000 |
| Pensacola-Ferry Pass-Brent, FL | 1 | $ 120,000 | $ 120,000 | $ 100,000 |
| Port St. Lucie, FL | 1 | $ 149,000 | $ 149,000 | $ 51,000 |
| Portland-Vancouver-Beaverton, OR-WA | 1 | $ 241,000 | $ 241,000 | $ 43,000 |
| Salt Lake City, UT | 1 | $ 200,000 | $ 200,000 | $ 37,000 |
| San Antonio, TX | 1 | $ 127,000 | $ 127,000 | $ 67,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 1 | $ 595,000 | $ 595,000 | $ 109,000 |
| San Luis Obispo-Paso Robles, CA | 1 | $ 249,000 | $ 249,000 | $ 174,000 |
| Santa Ana-Anaheim-Irvine, CA | 1 | $ 311,000 | $ 311,000 | $ 30,000 |
| Stockton, CA | 1 | $ 295,000 | $ 295,000 | $ 93,000 |
| Vallejo-Fairfield, CA | 1 | $ 275,000 | $ 275,000 | $ 44,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 1 | $ 148,000 | $ 148,000 | $ 72,000 |
Mortgage Loan Application Detail Totals for Equipoint Financial Network in 2008
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 Improvement | 335 | $55,736,000 | $166,000 | $417,000 | $48,000 | $240,000 |
| Home Purchase | 186 | $24,194,000 | $130,000 | $595,000 | $42,000 | $167,000 |
| Refinancing | 1 | $290,000 | $290,000 | $290,000 | $114,000 | $114,000 |
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 | 401 | $55,552,000 | $138,000 | $417,000 | $45,000 | $240,000 |
| Not Provided | 41 | $10,187,000 | $248,000 | $417,000 | $53,000 | $126,000 |
| Hispanic | 39 | $7,259,000 | $186,000 | $405,000 | $41,000 | $81,000 |
| Black or African American | 28 | $4,677,000 | $167,000 | $417,000 | $48,000 | $114,000 |
| Asian | 10 | $2,176,000 | $217,000 | $595,000 | $60,000 | $110,000 |
| American Indian or Alaskan Native | 3 | $369,000 | $123,000 | $159,000 | $20,000 | $44,000 |
| 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) | 365 | $47,009,000 | $128,000 | $417,000 | $37,000 | $130,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 156 | $32,962,000 | $211,000 | $595,000 | $68,000 | $240,000 |
| VA-guaranteed (Veterans Administration) | 1 | $249,000 | $249,000 | $249,000 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 233 | $35,991,000 | $154,000 | $417,000 | $45,000 | $183,000 |
| Loan Originated | 229 | $32,752,000 | $143,000 | $417,000 | $45,000 | $240,000 |
| Application Approved But Not Accepted | 29 | $6,017,000 | $207,000 | $595,000 | $55,000 | $109,000 |
| File Closed For Incompleteness | 16 | $3,207,000 | $200,000 | $342,000 | $49,000 | $156,000 |
| Application Withdrawn By Applicant | 15 | $2,253,000 | $150,000 | $280,000 | $52,000 | $125,000 |
| 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 | $4,034,000 | $144,000 | $350,000 | $44,000 | $92,000 |
| Other | 14 | $4,327,000 | $309,000 | $417,000 | $69,000 | $174,000 |
| Collateral | 12 | $3,783,000 | $315,000 | $405,000 | $68,000 | $183,000 |
| Debt-To-Income Ratio | 10 | $2,025,000 | $202,000 | $361,000 | $39,000 | $93,000 |
| Unverifiable Information | 2 | $393,000 | $196,000 | $206,000 | $70,000 | $80,000 |
| Employment History | 1 | $80,000 | $80,000 | $80,000 | $32,000 | $32,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $74,000 | $74,000 | $74,000 | $37,000 | $37,000 |
| Mortgage Insurance Denied | 1 | $89,000 | $89,000 | $89,000 | $66,000 | $66,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Equipoint Financial Network's 2008 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 Equipoint Financial Network'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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