First Choice Mortgage, Inc Mortgage Lending & HMDA Data, 2005
In 2005, First Choice Mortgage, Inc of Waukesha, WI reported 446 mortgage applications totaling $44.5 million, down 32% from 2004. The average application was for $99,762, and applicants reported an average income of $48,798. 71% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Milwaukee-Waukesha-West Allis, WI (173), Des Moines, IA (53) and Racine, WI (21) (applications in parentheses).
| Mortgage Company & Address | First Choice Mortgage, Inc W229n1433 Westwood Dr, Suite 103 Waukesha, WI 53186 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 |
| Total Number of Mortgage Applications | 446 |
| Total Mortgage Loan Application Amount | $44,494,000 |
| Average Mortgage Loan Application Amount | $99,762 |
| Highest Mortgage Loan Application Amount | $450,000 |
| Average Applicant Income | $48,798 |
| Highest Applicant Income | $368,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Choice Mortgage, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Milwaukee, Wisconsin | 135 | $ 13,347,000 | $ 98,866 | $ 45,000 |
| Polk, Iowa | 43 | $ 4,272,000 | $ 99,348 | $ 55,000 |
| Waukesha, Wisconsin | 25 | $ 2,404,000 | $ 96,160 | $ 78,000 |
| Racine, Wisconsin | 21 | $ 2,206,000 | $ 105,047 | $ 54,000 |
| Dane, Wisconsin | 17 | $ 2,358,000 | $ 138,705 | $ 76,000 |
| Linn, Iowa | 12 | $ 1,017,000 | $ 84,750 | $ 44,000 |
| Marathon, Wisconsin | 12 | $ 989,000 | $ 82,416 | $ 48,000 |
| Oconto, Wisconsin | 10 | $ 1,253,000 | $ 125,300 | $ 53,000 |
| Washington, Wisconsin | 10 | $ 1,380,000 | $ 138,000 | $ 71,000 |
| Winnebago, Wisconsin | 9 | $ 828,000 | $ 92,000 | $ 33,000 |
| Brown, Wisconsin | 8 | $ 788,000 | $ 98,500 | $ 31,000 |
| Rock, Wisconsin | 8 | $ 688,000 | $ 86,000 | $ 47,000 |
| Dallas, Iowa | 7 | $ 764,000 | $ 109,142 | $ 100,000 |
| Marshall, Iowa | 5 | $ 304,000 | $ 60,800 | $ 28,000 |
| Story, Iowa | 5 | $ 518,000 | $ 103,600 | $ 44,000 |
| Kenosha, Wisconsin | 5 | $ 767,000 | $ 153,400 | $ 84,000 |
| Dunn, Wisconsin | 4 | $ 344,000 | $ 86,000 | $ 40,000 |
| Fond du Lac, Wisconsin | 4 | $ 360,000 | $ 90,000 | $ 25,000 |
| Manitowoc, Wisconsin | 4 | $ 440,000 | $ 110,000 | $ 35,000 |
| Shawano, Wisconsin | 4 | $ 345,000 | $ 86,250 | $ 32,000 |
| Cook, Illinois | 3 | $ 299,000 | $ 99,666 | $ 83,000 |
| Boone, Iowa | 3 | $ 257,000 | $ 85,666 | $ 38,000 |
| Dubuque, Iowa | 3 | $ 253,000 | $ 84,333 | $ 16,000 |
| Marion, Iowa | 3 | $ 285,000 | $ 95,000 | $ 43,000 |
| Scott, Iowa | 3 | $ 213,000 | $ 71,000 | $ 60,000 |
| Green, Wisconsin | 3 | $ 173,000 | $ 57,666 | $ 65,000 |
| Ozaukee, Wisconsin | 3 | $ 446,000 | $ 148,666 | $ 83,000 |
| Waupaca, Wisconsin | 3 | $ 347,000 | $ 115,666 | $ 45,000 |
| Kane, Illinois | 2 | $ 179,000 | $ 89,500 | $ 75,000 |
| McHenry, Illinois | 2 | $ 390,000 | $ 195,000 | $ 118,000 |
| Butler, Iowa | 2 | $ 182,000 | $ 91,000 | $ 35,000 |
| Clarke, Iowa | 2 | $ 181,000 | $ 90,500 | $ 28,000 |
| Jasper, Iowa | 2 | $ 250,000 | $ 125,000 | $ 31,000 |
| Jones, Iowa | 2 | $ 234,000 | $ 117,000 | $ 67,000 |
| Keokuk, Iowa | 2 | $ 78,000 | $ 39,000 | $ 24,000 |
| O'Brien, Iowa | 2 | $ 96,000 | $ 48,000 | $ 20,000 |
| Warren, Iowa | 2 | $ 182,000 | $ 91,000 | $ 35,000 |
| Anoka, Minnesota | 2 | $ 78,000 | $ 39,000 | $ 58,000 |
| Olmsted, Minnesota | 2 | $ 263,000 | $ 131,500 | $ 44,000 |
| Langlade, Wisconsin | 2 | $ 92,000 | $ 46,000 | $ 47,000 |
| Marinette, Wisconsin | 2 | $ 198,000 | $ 99,000 | $ 40,000 |
| Outagamie, Wisconsin | 2 | $ 192,000 | $ 96,000 | $ 33,000 |
| Polk, Wisconsin | 2 | $ 200,000 | $ 100,000 | $ 32,000 |
| Rusk, Wisconsin | 2 | $ 73,000 | $ 36,500 | $ 81,000 |
| St. Croix, Wisconsin | 2 | $ 259,000 | $ 129,500 | $ 63,000 |
| Walworth, Wisconsin | 2 | $ 210,000 | $ 105,000 | $ 66,000 |
| DuPage, Illinois | 1 | $ 240,000 | $ 240,000 | $ 140,000 |
| Stephenson, Illinois | 1 | $ 66,000 | $ 66,000 | $ 65,000 |
| Winnebago, Illinois | 1 | $ 111,000 | $ 111,000 | $ 60,000 |
| Cerro Gordo, Iowa | 1 | $ 124,000 | $ 124,000 | $ 29,000 |
| Cherokee, Iowa | 1 | $ 72,000 | $ 72,000 | $ 44,000 |
| Davis, Iowa | 1 | $ 54,000 | $ 54,000 | $ 34,000 |
| Franklin, Iowa | 1 | $ 40,000 | $ 40,000 | $ 32,000 |
| Fremont, Iowa | 1 | $ 31,000 | $ 31,000 | $ 42,000 |
| Humboldt, Iowa | 1 | $ 62,000 | $ 62,000 | $ 46,000 |
| Jefferson, Iowa | 1 | $ 71,000 | $ 71,000 | $ 37,000 |
| Johnson, Iowa | 1 | $ 153,000 | $ 153,000 | $ 43,000 |
| Madison, Iowa | 1 | $ 65,000 | $ 65,000 | $ 23,000 |
| Page, Iowa | 1 | $ 25,000 | $ 25,000 | $ 25,000 |
| Plymouth, Iowa | 1 | $ 50,000 | $ 50,000 | $ 32,000 |
| Pottawattamie, Iowa | 1 | $ 85,000 | $ 85,000 | $ 20,000 |
| Poweshiek, Iowa | 1 | $ 60,000 | $ 60,000 | $ 76,000 |
| Shelby, Iowa | 1 | $ 52,000 | $ 52,000 | $ 42,000 |
| Webster, Iowa | 1 | $ 115,000 | $ 115,000 | $ 59,000 |
| Dakota, Minnesota | 1 | $ 264,000 | $ 264,000 | $ 65,000 |
| Fillmore, Minnesota | 1 | $ 60,000 | $ 60,000 | $ 42,000 |
| Ramsey, Minnesota | 1 | $ 181,000 | $ 181,000 | $ 156,000 |
| Washington, Minnesota | 1 | $ 34,000 | $ 34,000 | $ 66,000 |
| Bayfield, Wisconsin | 1 | $ 109,000 | $ 109,000 | $ 22,000 |
| Crawford, Wisconsin | 1 | $ 93,000 | $ 93,000 | $ 32,000 |
| Dodge, Wisconsin | 1 | $ 65,000 | $ 65,000 | $ 29,000 |
| Douglas, Wisconsin | 1 | $ 124,000 | $ 124,000 | $ 28,000 |
| Eau Claire, Wisconsin | 1 | $ 85,000 | $ 85,000 | $ 42,000 |
| Green Lake, Wisconsin | 1 | $ 72,000 | $ 72,000 | $ 32,000 |
| Iron, Wisconsin | 1 | $ 31,000 | $ 31,000 | $ 30,000 |
| Jefferson, Wisconsin | 1 | $ 144,000 | $ 144,000 | $ 57,000 |
| Juneau, Wisconsin | 1 | $ 102,000 | $ 102,000 | $ 56,000 |
| Monroe, Wisconsin | 1 | $ 77,000 | $ 77,000 | $ 52,000 |
| Pierce, Wisconsin | 1 | $ 130,000 | $ 130,000 | $ 39,000 |
| Portage, Wisconsin | 1 | $ 69,000 | $ 69,000 | $ 47,000 |
| Richland, Wisconsin | 1 | $ 145,000 | $ 145,000 | $ 42,000 |
| Sheboygan, Wisconsin | 1 | $ 50,000 | $ 50,000 | $ 37,000 |
Mortgage Loan Application Detail Totals for First Choice Mortgage, Inc in 2005
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 | 223 | $21,476,000 | $94,800 | $406,000 | $55,400 | $140,000 |
| Refinancing | 215 | $22,349,000 | $110,000 | $450,000 | $61,250 | $368,000 |
| Home Improvement | 8 | $669,000 | $83,500 | $110,000 | $37,500 | $66,000 |
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 | 312 | $31,185,000 | $100,750 | $450,000 | $63,000 | $368,000 |
| Black or African American | 76 | $6,652,000 | $133,000 | $406,000 | $38,750 | $111,000 |
| Not Provided | 32 | $3,726,000 | $127,250 | $275,000 | $79,500 | $156,000 |
| Hispanic | 19 | $2,001,000 | $100,500 | $209,000 | $39,000 | $97,000 |
| Asian | 6 | $828,000 | $138,000 | $202,000 | $66,000 | $127,000 |
| American Indian or Alaskan Native | 1 | $102,000 | $102,000 | $102,000 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 446 | $44,494,000 | $105,800 | $450,000 | $50,800 | $368,000 |
| 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 | 315 | $31,385,000 | $99,000 | $450,000 | $55,000 | $368,000 |
| Application Withdrawn By Applicant | 112 | $11,227,000 | $96,333 | $406,000 | $57,333 | $156,000 |
| Application Denied By Financial Institution | 17 | $1,681,000 | $150,000 | $264,000 | $42,333 | $92,000 |
| Preapproval Denied by Financial Institution | 2 | $201,000 | $100,000 | $117,000 | $7,000 | $14,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 8 | $748,000 | $89,000 | $142,000 | $22,000 | $92,000 |
| Other | 4 | $399,000 | $105,500 | $117,000 | $10,000 | $54,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $383,000 | $161,500 | $264,000 | $71,500 | $78,000 |
| Collateral | 2 | $192,000 | $96,000 | $121,000 | $34,500 | $43,000 |
| Employment History | 2 | $160,000 | $80,000 | $82,000 | $33,000 | $36,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Choice Mortgage, Inc's 2005 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 Choice Mortgage, Inc'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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