Finance Of America Mortgage Ll
Mortgage Loan Application
Totals and Details
for 2016

Mortgage Company & Address Finance Of America Mortgage Ll
300 Welsh Road Building 5
Horsham, PA 19044
Tel #: available with data download
Federal Regulator * available with data download
Years 2016  2015  
Total Number of Mortgage Applications 91,614
Total Mortgage Loan Application Amount $25,985,068,000
Average Mortgage Loan Application Amount $201,684
Highest Mortgage Loan Application Amount $3,000,000
Average Applicant Income $91,420
Highest Applicant Income $9,999,000
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Mortgage Loan Application Detail Totals for Finance Of America Mortgage Ll in 2016

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 46,459 $12,481,827,000 $268,000 $2,712,000 $98,000 $9,999,000
Refinancing 45,319 $13,542,579,000 $298,000 $3,000,000 $110,000 $9,999,000
Home Improvement 170 $57,368,000 $337,000 $1,075,000 $130,000 $1,368,000

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 57,540 $16,093,915,000 $279,000 $3,000,000 $107,000 $9,999,000
Hispanic 12,999 $3,375,034,000 $259,000 $1,785,000 $79,000 $2,040,000
Asian 8,376 $2,935,559,000 $350,000 $2,712,000 $127,000 $9,999,000
Not Provided 8,074 $2,451,861,000 $303,000 $1,650,000 $111,000 $3,540,000
Black or African American 3,955 $925,938,000 $234,000 $1,500,000 $76,000 $5,043,000
Native Hawaiin or Other Pacific Islander 658 $204,477,000 $310,000 $1,050,000 $96,000 $459,000
American Indian or Alaskan Native 346 $94,990,000 $274,000 $865,000 $104,000 $616,000
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) 60,871 $18,155,459,000 $298,000 $3,000,000 $121,000 $9,999,000
FHA-insured (Federal Housing Administration) 23,569 $5,784,887,000 $245,000 $940,000 $68,000 $3,347,000
VA-guaranteed (Veterans Administration) 6,342 $1,929,229,000 $304,000 $1,600,000 $78,000 $1,502,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1,166 $212,199,000 $181,000 $499,000 $56,000 $240,000

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 62,205 $17,762,881,000 $285,000 $2,675,000 $104,000 $7,270,000
Application Denied By Financial Institution 9,951 $2,783,731,000 $279,000 $2,712,000 $99,000 $9,999,000
Application Withdrawn By Applicant 9,579 $2,702,246,000 $282,000 $3,000,000 $108,000 $9,999,000
File Closed For Incompleteness 8,111 $2,283,644,000 $281,000 $2,083,000 $103,000 $4,380,000
Application Approved But Not Accepted 1,760 $453,186,000 $257,000 $1,800,000 $103,000 $875,000
Preapproval Denied by Financial Institution 315 $90,829,000 $288,000 $1,480,000 $77,000 $534,000
Loan Purchased By The Institution 27 $5,257,000 $194,000 $937,000 $60,000 $397,000
Preapproval Approved but not Accepted 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
Other 4,004 $1,182,741,000 $295,000 $2,211,000 $110,000 $9,999,000
Debt-To-Income Ratio 2,171 $616,233,000 $283,000 $2,712,000 $80,000 $3,306,000
Credit History 1,485 $396,901,000 $267,000 $2,000,000 $95,000 $1,502,000
Collateral 973 $246,525,000 $253,000 $1,500,000 $107,000 $6,431,000
Credit Application Incomplete 826 $229,099,000 $277,000 $1,890,000 $105,000 $1,918,000
Insufficient Cash (Downpayment, Closing Cost) 273 $70,489,000 $258,000 $2,345,000 $80,000 $1,256,000
Unverifiable Information 262 $69,339,000 $264,000 $1,239,000 $90,000 $975,000
Employment History 219 $51,266,000 $234,000 $605,000 $70,000 $518,000
Mortgage Insurance Denied 53 $11,967,000 $225,000 $565,000 $77,000 $250,000
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