First Alternative Mortgage Cor Mortgage Lending & HMDA Data, 2008

In 2008, First Alternative Mortgage Cor of New Rochell, NY reported 2,396 mortgage applications totaling $431.2 million, up 10% from 2007. The average application was for $179,978, and applicants reported an average income of $62,207. 48% of its applications resulted in an originated loan and 26% were denied. Its largest markets were Albany-Schenectady-Troy, NY (436), New York-White Plains-Wayne, NY-NJ (193) and Bridgeport-Stamford-Norwalk, CT (155) (applications in parentheses).

Mortgage Company & Address First Alternative Mortgage Cor
145 Huguenot St, Suite 109
New Rochell, NY 10801
Tel #: available with data download
Federal Regulator * available with data download
Years 2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 2,396
Total Mortgage Loan Application Amount $431,229,000
Average Mortgage Loan Application Amount $179,978
Highest Mortgage Loan Application Amount $1,560,000
Average Applicant Income $62,207
Highest Applicant Income $618,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Alternative Mortgage Cor filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Totals for First Alternative Mortgage Cor by County in 2008

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loans Applications Average Mortgage Loan Application Amount Average Applicant Income
Fairfield, Connecticut 155 $ 36,846,000 $ 237,716 $ 72,000
Schenectady, New York 146 $ 20,631,000 $ 141,308 $ 57,000
New Haven, Connecticut 107 $ 22,954,000 $ 214,523 $ 69,000
Albany, New York 97 $ 16,015,000 $ 165,103 $ 60,000
Monroe, New York 95 $ 10,052,000 $ 105,810 $ 48,000
Rensselaer, New York 95 $ 13,439,000 $ 141,463 $ 56,000
Onondaga, New York 91 $ 9,415,000 $ 103,461 $ 48,000
Erie, New York 89 $ 10,819,000 $ 121,561 $ 56,000
Saratoga, New York 85 $ 14,372,000 $ 169,082 $ 65,000
Fulton, New York 64 $ 6,805,000 $ 106,328 $ 44,000
Westchester, New York 62 $ 24,391,000 $ 393,403 $ 102,000
Washington, New York 54 $ 7,365,000 $ 136,388 $ 54,000
Hartford, Connecticut 53 $ 10,868,000 $ 205,056 $ 72,000
Montgomery, New York 45 $ 4,263,000 $ 94,733 $ 52,000
Oneida, New York 44 $ 4,333,000 $ 98,477 $ 46,000
Cayuga, New York 43 $ 4,033,000 $ 93,790 $ 52,000
Orange, New York 42 $ 10,655,000 $ 253,690 $ 78,000
Bronx, New York 37 $ 18,034,000 $ 487,405 $ 90,000
Queens, New York 34 $ 15,395,000 $ 452,794 $ 92,000
Greene, New York 33 $ 4,867,000 $ 147,484 $ 57,000
Warren, New York 33 $ 4,407,000 $ 133,545 $ 54,000
Hampden, Massachusetts 32 $ 5,220,000 $ 163,125 $ 50,000
Niagara, New York 31 $ 3,178,000 $ 102,516 $ 53,000
Orleans, New York 30 $ 2,301,000 $ 76,700 $ 50,000
Dutchess, New York 29 $ 8,261,000 $ 284,862 $ 79,000
Oswego, New York 29 $ 2,395,000 $ 82,586 $ 50,000
Ulster, New York 24 $ 4,728,000 $ 197,000 $ 65,000
Nassau, New York 22 $ 7,868,000 $ 357,636 $ 95,000
Windham, Connecticut 20 $ 3,979,000 $ 198,950 $ 63,000
Marion, Florida 20 $ 2,512,000 $ 125,600 $ 42,000
Suffolk, New York 20 $ 7,124,000 $ 356,200 $ 99,000
New London, Connecticut 17 $ 3,631,000 $ 213,588 $ 60,000
Ontario, New York 17 $ 2,406,000 $ 141,529 $ 62,000
Steuben, New York 17 $ 1,513,000 $ 89,000 $ 48,000
Chemung, New York 15 $ 1,289,000 $ 85,933 $ 45,000
Kings, New York 15 $ 7,432,000 $ 495,466 $ 112,000
Essex, New Jersey 14 $ 4,461,000 $ 318,642 $ 79,000
Chautauqua, New York 14 $ 1,185,000 $ 84,642 $ 38,000
Columbia, New York 13 $ 1,878,000 $ 144,461 $ 56,000
Madison, New York 13 $ 1,404,000 $ 108,000 $ 56,000
Schoharie, New York 13 $ 1,843,000 $ 141,769 $ 54,000
St. Lawrence, New York 13 $ 1,066,000 $ 82,000 $ 54,000
Broome, New York 12 $ 1,135,000 $ 94,583 $ 41,000
Essex, New York 12 $ 1,584,000 $ 132,000 $ 49,000
Otsego, New York 12 $ 1,494,000 $ 124,500 $ 52,000
Putnam, New York 12 $ 3,544,000 $ 295,333 $ 75,000
Herkimer, New York 11 $ 1,042,000 $ 94,727 $ 52,000
Richmond, New York 11 $ 4,092,000 $ 372,000 $ 91,000
Sullivan, New York 11 $ 1,607,000 $ 146,090 $ 47,000
Litchfield, Connecticut 10 $ 2,630,000 $ 263,000 $ 78,000
Cattaraugus, New York 10 $ 670,000 $ 67,000 $ 38,000
Clinton, New York 10 $ 1,013,000 $ 101,300 $ 54,000
Jefferson, New York 10 $ 1,088,000 $ 108,800 $ 41,000
Rockland, New York 9 $ 3,417,000 $ 379,666 $ 117,000
Seneca, New York 9 $ 726,000 $ 80,666 $ 45,000
Harris, Texas 9 $ 1,096,000 $ 121,777 $ 75,000
DeSoto, Florida 8 $ 852,000 $ 106,500 $ 35,000
Duval, Florida 8 $ 1,205,000 $ 150,625 $ 55,000
Miami-Dade, Florida 8 $ 1,844,000 $ 230,500 $ 68,000
Worcester, Massachusetts 8 $ 1,646,000 $ 205,750 $ 59,000
Monmouth, New Jersey 8 $ 2,633,000 $ 329,125 $ 82,000
Tolland, Connecticut 7 $ 1,300,000 $ 185,714 $ 56,000
Hillsborough, Florida 7 $ 1,405,000 $ 200,714 $ 72,000
Hudson, New Jersey 7 $ 1,812,000 $ 258,857 $ 64,000
Mercer, New Jersey 7 $ 1,861,000 $ 265,857 $ 85,000
Middlesex, New Jersey 7 $ 2,204,000 $ 314,857 $ 166,000
Delaware, New York 7 $ 567,000 $ 81,000 $ 52,000
Middlesex, Massachusetts 6 $ 1,590,000 $ 265,000 $ 74,000
Ocean, New Jersey 6 $ 1,459,000 $ 243,166 $ 78,000
Union, New Jersey 6 $ 1,880,000 $ 313,333 $ 79,000
Allegany, New York 6 $ 440,000 $ 73,333 $ 48,000
Livingston, New York 6 $ 691,000 $ 115,166 $ 42,000
Wayne, New York 6 $ 571,000 $ 95,166 $ 74,000
Fort Bend, Texas 6 $ 872,000 $ 145,333 $ 68,000
Tarrant, Texas 6 $ 736,000 $ 122,666 $ 49,000
Orange, Florida 5 $ 790,000 $ 158,000 $ 57,000
Polk, Florida 5 $ 499,000 $ 99,800 $ 38,000
Bergen, New Jersey 5 $ 1,686,000 $ 337,200 $ 94,000
Chenango, New York 5 $ 454,000 $ 90,800 $ 52,000
Franklin, New York 5 $ 595,000 $ 119,000 $ 60,000
Genesee, New York 5 $ 481,000 $ 96,200 $ 46,000
Broward, Florida 4 $ 722,000 $ 180,500 $ 52,000
Plymouth, Massachusetts 4 $ 1,006,000 $ 251,500 $ 77,000
Morris, New Jersey 4 $ 1,452,000 $ 363,000 $ 74,000
Tompkins, New York 4 $ 570,000 $ 142,500 $ 61,000
Yates, New York 4 $ 327,000 $ 81,750 $ 46,000
Collin, Texas 4 $ 759,000 $ 189,750 $ 71,000
Dallas, Texas 4 $ 497,000 $ 124,250 $ 42,000
Navarro, Texas 4 $ 251,000 $ 62,750 $ 34,000
Middlesex, Connecticut 3 $ 733,000 $ 244,333 $ 72,000
Brevard, Florida 3 $ 532,000 $ 177,333 $ 53,000
Osceola, Florida 3 $ 633,000 $ 211,000 $ 44,000
Palm Beach, Florida 3 $ 1,998,000 $ 666,000 $ 255,000
Pasco, Florida 3 $ 438,000 $ 146,000 $ 39,000
St. Johns, Florida 3 $ 613,000 $ 204,333 $ 75,000
Volusia, Florida 3 $ 343,000 $ 114,333 $ 46,000
Bristol, Massachusetts 3 $ 1,056,000 $ 352,000 $ 85,000
Essex, Massachusetts 3 $ 1,242,000 $ 414,000 $ 102,000
Hampshire, Massachusetts 3 $ 492,000 $ 164,000 $ 54,000
Cumberland, New Jersey 3 $ 398,000 $ 132,666 $ 37,000
Warren, New Jersey 3 $ 813,000 $ 271,000 $ 70,000
Tioga, New York 3 $ 233,000 $ 77,666 $ 34,000
Lackawanna, Pennsylvania 3 $ 456,000 $ 152,000 $ 43,000
York, Pennsylvania 3 $ 496,000 $ 165,333 $ 65,000
Sacramento, California 2 $ 241,000 $ 120,500 $ 26,000
Alachua, Florida 2 $ 247,000 $ 123,500 $ 38,000
Hernando, Florida 2 $ 176,000 $ 88,000 $ 28,000
Lee, Florida 2 $ 240,000 $ 120,000 $ 41,000
Manatee, Florida 2 $ 351,000 $ 175,500 $ 48,000
Nassau, Florida 2 $ 487,000 $ 243,500 $ 49,000
Seminole, Florida 2 $ 301,000 $ 150,500 $ 46,000
Barnstable, Massachusetts 2 $ 729,000 $ 364,500 $ 77,000
Norfolk, Massachusetts 2 $ 540,000 $ 270,000 $ 48,000
Gloucester, New Jersey 2 $ 526,000 $ 263,000 $ 85,000
Somerset, New Jersey 2 $ 521,000 $ 260,500 $ 113,000
Cortland, New York 2 $ 196,000 $ 98,000 $ 54,000
Lewis, New York 2 $ 135,000 $ 67,500 $ 22,000
Wyoming, New York 2 $ 151,000 $ 75,500 $ 44,000
Lehigh, Pennsylvania 2 $ 236,000 $ 118,000 $ 52,000
Philadelphia, Pennsylvania 2 $ 316,000 $ 158,000 $ 84,000
Bexar, Texas 2 $ 91,000 $ 45,500 $ 50,000
Jefferson, Texas 2 $ 126,000 $ 63,000 $ 36,000
Alameda, California 1 $ 311,000 $ 311,000 $ 75,000
Contra Costa, California 1 $ 187,000 $ 187,000 $ 37,000
San Diego, California 1 $ 620,000 $ 620,000 $ 75,000
Santa Cruz, California 1 $ 539,000 $ 539,000 $ 86,000
Baker, Florida 1 $ 108,000 $ 108,000 $ 59,000
Charlotte, Florida 1 $ 154,000 $ 154,000 $ 35,000
Citrus, Florida 1 $ 51,000 $ 51,000 $ 37,000
Clay, Florida 1 $ 287,000 $ 287,000 $ 95,000
Collier, Florida 1 $ 255,000 $ 255,000 $ 60,000
Columbia, Florida 1 $ 73,000 $ 73,000 $ 36,000
Levy, Florida 1 $ 73,000 $ 73,000 $ 54,000
Okaloosa, Florida 1 $ 81,000 $ 81,000 $ 21,000
Pinellas, Florida 1 $ 55,000 $ 55,000 $ 38,000
Santa Rosa, Florida 1 $ 150,000 $ 150,000 $ 37,000
St. Lucie, Florida 1 $ 164,000 $ 164,000 $ 65,000
Sumter, Florida 1 $ 68,000 $ 68,000 $ 88,000
Walton, Florida 1 $ 154,000 $ 154,000 $ 70,000
Dawson, Georgia 1 $ 200,000 $ 200,000 $ 131,000
Baltimore, Maryland 1 $ 227,000 $ 227,000 $ 55,000
Prince George's, Maryland 1 $ 279,000 $ 279,000 $ 56,000
Berkshire, Massachusetts 1 $ 122,000 $ 122,000 $ 92,000
Camden, New Jersey 1 $ 311,000 $ 311,000 $ 50,000
Cape May, New Jersey 1 $ 309,000 $ 309,000 $ 83,000
Passaic, New Jersey 1 $ 214,000 $ 214,000 $ 99,000
Salem, New Jersey 1 $ 153,000 $ 153,000 $ 39,000
Sussex, New Jersey 1 $ 522,000 $ 522,000 $ 150,000
Hamilton, New York 1 $ 63,000 $ 63,000 $ 36,000
Schuyler, New York 1 $ 128,000 $ 128,000 $ 48,000
Summit, Ohio 1 $ 55,000 $ 55,000 $ 24,000
Oklahoma, Oklahoma 1 $ 64,000 $ 64,000 $ 31,000
Berks, Pennsylvania 1 $ 97,000 $ 97,000 $ 113,000
Clearfield, Pennsylvania 1 $ 150,000 $ 150,000 $ 83,000
Cumberland, Pennsylvania 1 $ 177,000 $ 177,000 $ 25,000
Lancaster, Pennsylvania 1 $ 97,000 $ 97,000 $ 83,000
Northampton, Pennsylvania 1 $ 225,000 $ 225,000 $ 40,000
Austin, Texas 1 $ 115,000 $ 115,000 $ 62,000
Burnet, Texas 1 $ 44,000 $ 44,000 $ 37,000
Ellis, Texas 1 $ 179,000 $ 179,000 $ 52,000
Galveston, Texas 1 $ 92,000 $ 92,000 $ 26,000
Guadalupe, Texas 1 $ 108,000 $ 108,000 $ 30,000
Hidalgo, Texas 1 $ 132,000 $ 132,000 $ 52,000
Hopkins, Texas 1 $ 33,000 $ 33,000 $ 38,000
Hunt, Texas 1 $ 99,000 $ 99,000 $ 49,000
Johnson, Texas 1 $ 138,000 $ 138,000 $ 40,000
Kaufman, Texas 1 $ 143,000 $ 143,000 $ 40,000
Lubbock, Texas 1 $ 90,000 $ 90,000 $ 12,000
Nueces, Texas 1 $ 88,000 $ 88,000 $ 43,000
Orange, Texas 1 $ 98,000 $ 98,000 $ 46,000
Parker, Texas 1 $ 98,000 $ 98,000 $ 79,000
Travis, Texas 1 $ 113,000 $ 113,000 $ 60,000
Wood, Texas 1 $ 74,000 $ 74,000 $ 22,000
Richmond City, Virginia 1 $ 74,000 $ 74,000 $ 45,000
Virginia Beach, Virginia 1 $ 274,000 $ 274,000 $ 96,000

Mortgage Loan Application Detail Totals for First Alternative Mortgage Cor 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 Purchase 1,276 $202,018,000 $158,000 $819,000 $58,000 $575,000
Refinancing 1,120 $229,211,000 $204,000 $1,560,000 $67,000 $618,000
Home Improvement 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 1,816 $295,843,000 $162,000 $782,000 $60,000 $575,000
Black or African American 319 $74,449,000 $233,000 $1,560,000 $70,000 $618,000
Hispanic 233 $56,101,000 $240,000 $718,000 $66,000 $212,000
Asian 16 $3,129,000 $195,000 $614,000 $68,000 $150,000
American Indian or Alaskan Native 8 $940,000 $117,000 $223,000 $46,000 $108,000
Native Hawaiian or Other Pacific Islander 4 $767,000 $191,000 $282,000 $46,000 $71,000
Not applicable 0 $0 $0 $0 $0 $0
Not Provided 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) 2,324 $413,460,000 $177,000 $819,000 $61,000 $406,000
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 49 $14,403,000 $293,000 $1,560,000 $122,000 $618,000
VA-guaranteed (Veterans Administration) 23 $3,366,000 $146,000 $254,000 $53,000 $89,000
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
Loan Originated 1,148 $188,471,000 $164,000 $670,000 $61,000 $243,000
Application Denied By Financial Institution 622 $122,568,000 $197,000 $731,000 $60,000 $406,000
Application Withdrawn By Applicant 544 $105,054,000 $193,000 $1,560,000 $65,000 $618,000
Application Approved But Not Accepted 76 $14,029,000 $184,000 $564,000 $66,000 $575,000
File Closed For Incompleteness 6 $1,107,000 $184,000 $269,000 $71,000 $130,000
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
Other 26 $3,394,000 $130,000 $492,000 $48,000 $99,000
Credit History 18 $2,121,000 $117,000 $226,000 $51,000 $90,000
Debt-To-Income Ratio 7 $1,153,000 $164,000 $305,000 $41,000 $61,000
Collateral 2 $254,000 $127,000 $199,000 $34,000 $40,000
Employment History 1 $37,000 $37,000 $37,000 $16,000 $16,000
Insufficient Cash (Downpayment, Closing Cost) 1 $137,000 $137,000 $137,000 $52,000 $52,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Unverifiable Information 0 $0 $0 $0 $0 $0

Our comprehensive HMDA mortgage statistics provide invaluable insights into First Alternative Mortgage Cor'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 First Alternative Mortgage Cor'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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