First Entertainment CU Mortgage Lending & HMDA Data, 2003

In 2003, First Entertainment CU of Hollywood, CA reported 598 mortgage applications totaling $159.4 million. The average application was for $266,541, and applicants reported an average income of $107,391. 61% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Los Angeles-Long Beach, CA (542), Ventura, CA (25) and Riverside-San Bernardino, CA (13) (applications in parentheses).

Mortgage Company & Address First Entertainment CU
6735 Forest Lawn Dr
Hollywood, CA 90068
Tel #: available with data download
Federal Regulator * available with data download
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Total Number of Mortgage Applications 598
Total Mortgage Loan Application Amount $159,392,000
Average Mortgage Loan Application Amount $266,541
Highest Mortgage Loan Application Amount $2,500,000
Average Applicant Income $107,391
Highest Applicant Income $999,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Entertainment CU filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.

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Mortgage Loan Application Detail Totals for First Entertainment CU in 2003

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
Refinancing (home purchase or home improvement, one-to-four family) 447 $114,848,000 $161,000 $2,500,000 $101,000 $999,000
Home Purchase (one-to-four family) 151 $44,544,000 $294,000 $869,000 $88,000 $888,000
Multifamily dwelling (home purchase, home improvement, and refinancings) 0 $0 $0 $0 $0 $0
Home Improvement (one-to-four family) 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 359 $100,018,000 $278,000 $2,500,000 $128,000 $999,000
Information not provided by applicant in mail or telephone application 124 $32,541,000 $164,500 $1,208,000 $102,500 $850,000
Hispanic 57 $13,287,000 $233,000 $650,000 $87,000 $311,000
Asian or Pacific Islander 25 $5,623,000 $224,000 $360,000 $77,000 $220,000
Black 16 $3,920,000 $245,000 $560,000 $81,000 $137,000
Other 12 $3,224,000 $268,000 $443,000 $89,000 $177,000
American Indian or Alaskan Native 5 $779,000 $155,000 $190,000 $61,000 $106,000
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) 598 $159,392,000 $165,500 $2,500,000 $96,000 $999,000
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 364 $96,552,000 $165,000 $2,500,000 $112,500 $999,000
Application Approved But Not Accepted 116 $31,725,000 $273,000 $650,000 $95,000 $399,000
Application Denied By Financial Institution 59 $15,225,000 $258,000 $630,000 $81,000 $200,000
Application Withdrawn By Applicant 32 $8,413,000 $262,000 $550,000 $116,000 $223,000
File Closed For Incompleteness 27 $7,477,000 $276,000 $560,000 $78,000 $156,000
Loan Purchased By The 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
Debt-To-Income Ratio 17 $4,847,000 $285,000 $525,000 $74,000 $200,000
Credit History 10 $2,592,000 $259,000 $600,000 $94,000 $180,000
Insufficient Cash (Downpayment, Closing Cost) 5 $1,055,000 $211,000 $263,000 $65,000 $99,000
Collateral 4 $859,000 $214,000 $546,000 $66,000 $106,000
Other 3 $385,000 $128,000 $200,000 $73,000 $151,000
Unverifiable Information 0 $0 $0 $0 $0 $0
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Employment History 0 $0 $0 $0 $0 $0

Our comprehensive HMDA mortgage statistics provide invaluable insights into First Entertainment CU's 2003 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 Entertainment CU'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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