First Federal Mortgage, Inc Mortgage Lending & HMDA Data, 2008
In 2008, First Federal Mortgage, Inc of Orem, UT reported 30 mortgage applications totaling $6.8 million. The average application was for $225,233, and applicants reported an average income of $81,366. 90% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Provo-Orem, UT (19), Ogden-Clearfield, UT (1) and Salt Lake City, UT (1) (applications in parentheses).
| Mortgage Company & Address | First Federal Mortgage, Inc 1563 N. Technology Way Bldg A, Ste 2100 Orem, UT 84097 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 |
| Total Number of Mortgage Applications | 30 |
| Total Mortgage Loan Application Amount | $6,757,000 |
| Average Mortgage Loan Application Amount | $225,233 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $81,366 |
| Highest Applicant Income | $186,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Federal Mortgage, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for First Federal Mortgage, Inc 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 | 23 | $4,551,000 | $197,000 | $272,000 | $76,000 | $180,000 |
| Refinancing | 7 | $2,206,000 | $315,000 | $417,000 | $99,000 | $186,000 |
| 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 | 27 | $6,047,000 | $223,000 | $417,000 | $83,000 | $186,000 |
| Hispanic | 2 | $522,000 | $261,000 | $271,000 | $81,000 | $92,000 |
| Not Provided | 1 | $188,000 | $188,000 | $188,000 | $49,000 | $49,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 15 | $3,496,000 | $233,000 | $417,000 | $89,000 | $186,000 |
| FHA-insured (Federal Housing Administration) | 9 | $1,901,000 | $211,000 | $307,000 | $79,000 | $157,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $1,088,000 | $217,000 | $251,000 | $62,000 | $81,000 |
| VA-guaranteed (Veterans Administration) | 1 | $272,000 | $272,000 | $272,000 | $94,000 | $94,000 |
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 | 27 | $6,239,000 | $231,000 | $417,000 | $79,000 | $186,000 |
| Application Denied By Financial Institution | 2 | $377,000 | $188,000 | $193,000 | $64,000 | $74,000 |
| Application Withdrawn By Applicant | 1 | $141,000 | $141,000 | $141,000 | $180,000 | $180,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Credit History | 2 | $377,000 | $188,000 | $193,000 | $64,000 | $74,000 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 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 Federal Mortgage, Inc'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 Federal 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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