First Metropolitan C U Mortgage Lending & HMDA Data, 2008
In 2008, First Metropolitan C U of Concord, CA reported 26 mortgage applications totaling $2.6 million, down 71% from 2007. The average application was for $98,538, and applicants reported an average income of $71,461. 65% of its applications resulted in an originated loan and 31% were denied. Its largest markets were Oakland-Fremont-Hayward, CA (18), Vallejo-Fairfield, CA (5) and San Francisco-San Mateo-Redwood City, CA (1) (applications in parentheses).
| Mortgage Company & Address | First Metropolitan C U 1333 Willow Pass Rd. Suite 206 Concord, CA 94520 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 26 |
| Total Mortgage Loan Application Amount | $2,562,000 |
| Average Mortgage Loan Application Amount | $98,538 |
| Highest Mortgage Loan Application Amount | $598,000 |
| Average Applicant Income | $71,461 |
| Highest Applicant Income | $180,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Metropolitan C U filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Metropolitan C U 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 Improvement | 18 | $920,000 | $51,000 | $131,000 | $73,000 | $180,000 |
| Refinancing | 8 | $1,642,000 | $205,000 | $598,000 | $68,000 | $154,000 |
| Home Purchase | 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 | 21 | $2,207,000 | $105,000 | $598,000 | $74,000 | $180,000 |
| Hispanic | 4 | $325,000 | $81,000 | $229,000 | $65,000 | $84,000 |
| Not Provided | 1 | $30,000 | $30,000 | $30,000 | $52,000 | $52,000 |
| 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) | 26 | $2,562,000 | $98,000 | $598,000 | $72,000 | $180,000 |
| 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 | 17 | $1,232,000 | $72,000 | $229,000 | $79,000 | $180,000 |
| Application Denied By Financial Institution | 8 | $1,209,000 | $151,000 | $598,000 | $56,000 | $95,000 |
| Application Approved But Not Accepted | 1 | $121,000 | $121,000 | $121,000 | $63,000 | $63,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 5 | $1,089,000 | $217,000 | $598,000 | $59,000 | $95,000 |
| Collateral | 2 | $90,000 | $45,000 | $50,000 | $52,000 | $88,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Metropolitan C U'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 Metropolitan C U'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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with aggregated HMDA statistics today.
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