Fm Home Loans LLC Mortgage Lending & HMDA Data, 2006

In 2006, Fm Home Loans LLC of Brooklyn, NY reported 1,070 mortgage applications totaling $310.3 million, down 66% from 2005. The average application was for $289,959, and applicants reported an average income of $224,345. 89% of its applications resulted in an originated loan and 0% were denied. Its largest markets were New York-White Plains-Wayne, NY-NJ (388), Miami-Miami Beach-Kendall, FL (162) and West Palm Beach-Boca Raton-Boynton Beach, FL (144) (applications in parentheses).

Mortgage Company & Address Fm Home Loans LLC
2329 Nostrand Ave, 3rd Floor
Brooklyn, NY 11210
Tel #: available with data download
Federal Regulator * available with data download
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Total Number of Mortgage Applications 1,070
Total Mortgage Loan Application Amount $310,257,000
Average Mortgage Loan Application Amount $289,959
Highest Mortgage Loan Application Amount $2,000,000
Average Applicant Income $224,345
Highest Applicant Income $7,184,000

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Act (HMDA) records Fm Home Loans LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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

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Mortgage Loan Application Detail Totals for Fm Home Loans LLC in 2006

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 760 $199,842,000 $262,000 $1,500,000 $220,000 $7,184,000
Refinancing 310 $110,415,000 $356,000 $2,000,000 $235,000 $1,637,000
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 773 $241,597,000 $312,000 $2,000,000 $237,000 $5,277,000
Not Provided 156 $32,625,000 $209,000 $1,360,000 $154,000 $596,000
Hispanic 66 $15,761,000 $238,000 $880,000 $154,000 $456,000
Black or African American 42 $12,902,000 $307,000 $1,481,000 $443,000 $7,184,000
Asian 30 $6,577,000 $219,000 $554,000 $125,000 $220,000
Native Hawaiian or Other Pacific Islander 3 $795,000 $265,000 $400,000 $129,000 $131,000
Not applicable 0 $0 $0 $0 $0 $0
American Indian or Alaskan Native 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) 1,070 $310,257,000 $289,000 $2,000,000 $225,000 $7,184,000
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 947 $274,989,000 $290,000 $2,000,000 $228,000 $7,184,000
Application Approved But Not Accepted 69 $18,198,000 $263,000 $1,000,000 $168,000 $960,000
Application Withdrawn By Applicant 51 $16,348,000 $320,000 $1,365,000 $255,000 $2,703,000
Application Denied By Financial Institution 3 $722,000 $240,000 $362,000 $87,000 $131,000
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
Other 2 $360,000 $180,000 $288,000 $131,000 $131,000
Unverifiable Information 0 $0 $0 $0 $0 $0
Collateral 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Credit History 0 $0 $0 $0 $0 $0
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

Our comprehensive HMDA mortgage statistics provide invaluable insights into Fm Home Loans LLC's 2006 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 Fm Home Loans 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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