First Mortgage Group, Inc. Mortgage Lending & HMDA Data, 2010
In 2010, First Mortgage Group, Inc. of Decatur, AL reported 276 mortgage applications totaling $34.1 million, down 54% from 2009. The average application was for $123,637, and applicants reported an average income of $45,260. 15% of its applications resulted in an originated loan and 46% were denied. Its largest markets were Decatur, AL (96), Huntsville, AL (55) and Birmingham-Hoover, AL (5) (applications in parentheses).
| Mortgage Company & Address | First Mortgage Group, Inc. 118 E. Moulton Street, Top Floor Decatur, AL 35601 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 276 |
| Total Mortgage Loan Application Amount | $34,124,000 |
| Average Mortgage Loan Application Amount | $123,637 |
| Highest Mortgage Loan Application Amount | $492,000 |
| Average Applicant Income | $45,260 |
| Highest Applicant Income | $258,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Mortgage Group, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Decatur, AL | 96 | $ 10,925,000 | $ 113,802 | $ 42,000 |
| Huntsville, AL | 55 | $ 9,075,000 | $ 165,000 | $ 65,000 |
| Birmingham-Hoover, AL | 5 | $ 949,000 | $ 189,800 | $ 47,000 |
| Montgomery, AL | 4 | $ 455,000 | $ 113,750 | $ 41,000 |
| Florence-Muscle Shoals, AL | 3 | $ 347,000 | $ 115,666 | $ 43,000 |
| Gadsden, AL | 3 | $ 276,000 | $ 92,000 | $ 35,000 |
| Anniston-Oxford, AL | 2 | $ 246,000 | $ 123,000 | $ 59,000 |
| Atlanta-Sandy Springs-Marietta, GA | 1 | $ 174,000 | $ 174,000 | $ 60,000 |
| Augusta-Richmond County, GA-SC | 1 | $ 148,000 | $ 148,000 | $ 35,000 |
| Charleston-North Charleston-Summerville, SC | 1 | $ 197,000 | $ 197,000 | $ 36,000 |
| Shreveport-Bossier City, LA | 1 | $ 261,000 | $ 261,000 | $ 258,000 |
| Tuscaloosa, AL | 1 | $ 224,000 | $ 224,000 | $ 71,000 |
Mortgage Loan Application Detail Totals for First Mortgage Group, Inc. in 2010
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 | 144 | $19,381,000 | $134,000 | $492,000 | $51,000 | $173,000 |
| Home Purchase | 132 | $14,743,000 | $111,000 | $400,000 | $39,000 | $258,000 |
| 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 | 196 | $25,342,000 | $129,000 | $492,000 | $47,000 | $258,000 |
| Black or African American | 65 | $7,374,000 | $113,000 | $247,000 | $41,000 | $157,000 |
| Not Provided | 7 | $802,000 | $114,000 | $252,000 | $52,000 | $173,000 |
| Hispanic | 6 | $422,000 | $70,000 | $88,000 | $35,000 | $64,000 |
| Asian | 2 | $184,000 | $92,000 | $113,000 | $31,000 | $34,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 193 | $22,883,000 | $118,000 | $277,000 | $45,000 | $258,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 69 | $9,820,000 | $142,000 | $492,000 | $48,000 | $173,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 7 | $569,000 | $81,000 | $108,000 | $36,000 | $63,000 |
| VA-guaranteed (Veterans Administration) | 7 | $852,000 | $121,000 | $234,000 | $44,000 | $84,000 |
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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 127 | $13,929,000 | $109,000 | $400,000 | $37,000 | $157,000 |
| Application Withdrawn By Applicant | 94 | $13,377,000 | $142,000 | $492,000 | $54,000 | $173,000 |
| Loan Originated | 41 | $5,757,000 | $140,000 | $270,000 | $55,000 | $258,000 |
| Preapproval Denied by Financial Institution | 14 | $1,061,000 | $75,000 | $105,000 | $28,000 | $48,000 |
| 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 |
| File Closed For Incompleteness | 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 | 132 | $13,907,000 | $105,000 | $295,000 | $37,000 | $157,000 |
| Debt-To-Income Ratio | 2 | $472,000 | $236,000 | $400,000 | $39,000 | $53,000 |
| Collateral | 1 | $52,000 | $52,000 | $52,000 | $44,000 | $44,000 |
| Unverifiable Information | 1 | $90,000 | $90,000 | $90,000 | $26,000 | $26,000 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Mortgage Group, Inc.'s 2010 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 Mortgage Group, 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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