First Alliance Home Mortgage, LLC Mortgage Lending & HMDA Data, 2023
In 2023, First Alliance Home Mortgage, LLC of Cranford, NJ reported 1,186 mortgage applications totaling $392.5 million, down 36% from 2022. The average application was for $330,935, and applicants reported an average income of $113,158. 56% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Newark, NJ-PA (116), New York-Jersey City-White Plains, NY-NJ (109) and Harrisburg-Carlisle, PA (86) (applications in parentheses).
| Mortgage Company & Address | First Alliance Home Mortgage, LLC 20 Jackson Drive 2nd Floor Cranford, NJ 07016 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 |
| Total Number of Mortgage Applications | 1,186 |
| Total Mortgage Loan Application Amount | $392,490,000 |
| Average Mortgage Loan Application Amount | $330,935 |
| Highest Mortgage Loan Application Amount | $12,005,000 |
| Average Applicant Income | $113,158 |
| Highest Applicant Income | $2,068,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Alliance Home Mortgage, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 First Alliance Home Mortgage, LLC in 2023
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 | 814 | $283,740,000 | $348,000 | $1,835,000 | $121,000 | $2,068,000 |
| Refinancing | 372 | $108,750,000 | $292,000 | $12,005,000 | $96,000 | $1,093,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Hispanic | 459 | $167,265,000 | $364,000 | $1,755,000 | $113,000 | $1,093,000 |
| White | 360 | $113,720,000 | $315,000 | $12,005,000 | $115,000 | $2,068,000 |
| Black or African American | 170 | $51,730,000 | $304,000 | $1,805,000 | $99,000 | $512,000 |
| Not Provided | 103 | $27,175,000 | $263,000 | $1,035,000 | $93,000 | $450,000 |
| Asian | 92 | $32,110,000 | $349,000 | $1,835,000 | $160,000 | $845,000 |
| American Indian or Alaskan Native | 2 | $490,000 | $245,000 | $375,000 | $93,000 | $129,000 |
| 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) | 603 | $184,395,000 | $305,000 | $785,000 | $94,000 | $366,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 544 | $194,660,000 | $357,000 | $12,005,000 | $132,000 | $1,380,000 |
| VA-guaranteed (Veterans Administration) | 38 | $13,230,000 | $348,000 | $1,055,000 | $146,000 | $2,068,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $205,000 | $205,000 | $205,000 | $79,000 | $79,000 |
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 | 659 | $211,745,000 | $321,000 | $1,835,000 | $114,000 | $2,068,000 |
| Application Withdrawn By Applicant | 436 | $151,840,000 | $348,000 | $12,005,000 | $117,000 | $1,380,000 |
| Application Denied By Financial Institution | 91 | $28,905,000 | $317,000 | $955,000 | $92,000 | $322,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 1,095 | $363,585,000 | $332,000 | $12,005,000 | $115,000 | $2,068,000 |
| Other | 27 | $8,285,000 | $306,000 | $955,000 | $98,000 | $322,000 |
| Debt-To-Income Ratio | 25 | $8,835,000 | $353,000 | $635,000 | $84,000 | $245,000 |
| Collateral | 19 | $5,075,000 | $267,000 | $585,000 | $93,000 | $200,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 9 | $3,085,000 | $342,000 | $605,000 | $117,000 | $206,000 |
| Credit History | 6 | $1,260,000 | $210,000 | $355,000 | $67,000 | $94,000 |
| Employment History | 4 | $1,900,000 | $475,000 | $675,000 | $72,000 | $114,000 |
| Unverifiable Information | 1 | $465,000 | $465,000 | $465,000 | $132,000 | $132,000 |
| 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 First Alliance Home Mortgage, LLC's 2023 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 Alliance Home Mortgage, LLC'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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