First Entertainment CU Mortgage Lending & HMDA Data, 2018

In 2018, First Entertainment CU of Hollywood, CA reported 644 mortgage applications totaling $312.7 million, down 24% from 2017. The average application was for $485,481, and applicants reported an average income of $155,950. 32% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (293), Riverside-San Bernardino-Ontario, CA (17) and Oxnard-Thousand Oaks-Ventura, CA (11) (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 644
Total Mortgage Loan Application Amount $312,650,000
Average Mortgage Loan Application Amount $485,481
Highest Mortgage Loan Application Amount $2,325,000
Average Applicant Income $155,950
Highest Applicant Income $1,179,000

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(HMDA) records First Entertainment CU filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2018

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 398 $193,860,000 $487,000 $2,005,000 $154,000 $1,179,000
Refinancing 245 $118,405,000 $483,000 $2,325,000 $159,000 $710,000
Cash-out Refinancing 1 $385,000 $385,000 $385,000 $185,000 $185,000
Home Improvement 0 $0 $0 $0 $0 $0
Not Applicable 0 $0 $0 $0 $0 $0
Other Purpose 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
Not Provided 322 $154,640,000 $480,000 $2,325,000 $150,000 $769,000
White 249 $124,545,000 $500,000 $2,105,000 $166,000 $769,000
Hispanic 28 $12,440,000 $444,000 $1,335,000 $153,000 $656,000
Black or African American 22 $11,580,000 $526,000 $1,215,000 $149,000 $307,000
Asian 18 $7,590,000 $421,000 $825,000 $174,000 $1,179,000
American Indian or Alaskan Native 2 $780,000 $390,000 $465,000 $65,000 $84,000
Native Hawaiian or Other Pacific Islander 1 $345,000 $345,000 $345,000 $77,000 $77,000
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) 644 $312,650,000 $485,000 $2,325,000 $156,000 $1,179,000
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 204 $102,870,000 $504,000 $2,105,000 $197,000 $1,179,000
Application Withdrawn By Applicant 189 $91,055,000 $481,000 $1,695,000 $149,000 $769,000
Application Denied By Financial Institution 78 $33,490,000 $429,000 $2,325,000 $84,000 $335,000
Preapproval Approved but not Accepted 76 $38,800,000 $510,000 $2,005,000 $149,000 $679,000
File Closed For Incompleteness 72 $33,840,000 $470,000 $1,005,000 $149,000 $591,000
Application Approved But Not Accepted 22 $11,040,000 $501,000 $1,605,000 $153,000 $550,000
Preapproval Denied by Financial Institution 3 $1,555,000 $518,000 $585,000 $85,000 $153,000
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
Not applicable 563 $277,605,000 $493,000 $2,105,000 $167,000 $1,179,000
Debt-To-Income Ratio 38 $16,610,000 $437,000 $2,325,000 $68,000 $213,000
Credit History 28 $12,280,000 $438,000 $1,105,000 $102,000 $307,000
Insufficient Cash (Downpayment, Closing Cost) 8 $3,140,000 $392,000 $805,000 $46,000 $88,000
Other 4 $1,350,000 $337,000 $585,000 $151,000 $188,000
Employment History 3 $1,665,000 $555,000 $995,000 $136,000 $335,000
Collateral 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Unverifiable Information 0 $0 $0 $0 $0 $0
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0

Our comprehensive HMDA mortgage statistics provide invaluable insights into First Entertainment CU's 2018 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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