First Source Funding Group, in Mortgage Lending & HMDA Data, 2004
In 2004, First Source Funding Group, in of Irvine, CA reported 1,914 mortgage applications totaling $610.9 million, down 25% from 2003. The average application was for $319,156, and applicants reported an average income of $118,117. 55% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (539), Santa Ana-Anaheim-Irvine, CA (530) and Riverside-San Bernardino-Ontario, CA (243) (applications in parentheses).
| Mortgage Company & Address | First Source Funding Group, in 100 Pacifica, Suite 160 Irvine, CA 92618 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,914 |
| Total Mortgage Loan Application Amount | $610,866,000 |
| Average Mortgage Loan Application Amount | $319,156 |
| Highest Mortgage Loan Application Amount | $2,420,000 |
| Average Applicant Income | $118,117 |
| Highest Applicant Income | $1,038,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Source Funding Group, in filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Los Angeles-Long Beach-Glendale, CA | 539 | $ 169,172,000 | $ 313,862 | $ 117,000 |
| Santa Ana-Anaheim-Irvine, CA | 530 | $ 185,595,000 | $ 350,179 | $ 137,000 |
| Riverside-San Bernardino-Ontario, CA | 243 | $ 55,468,000 | $ 228,263 | $ 108,000 |
| San Diego-Carlsbad-San Marcos, CA | 159 | $ 50,302,000 | $ 316,364 | $ 113,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 153 | $ 58,663,000 | $ 383,418 | $ 128,000 |
| Oakland-Fremont-Hayward, CA | 73 | $ 24,184,000 | $ 331,287 | $ 143,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 36 | $ 9,777,000 | $ 271,583 | $ 118,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 33 | $ 9,971,000 | $ 302,151 | $ 87,000 |
| San Francisco-San Mateo-Redwood City, CA | 32 | $ 15,302,000 | $ 478,187 | $ 158,000 |
| San Luis Obispo-Paso Robles, CA | 10 | $ 3,181,000 | $ 318,100 | $ 106,000 |
| Merced, CA | 8 | $ 1,329,000 | $ 166,125 | $ 75,000 |
| Bakersfield, CA | 7 | $ 1,421,000 | $ 203,000 | $ 85,000 |
| Fresno, CA | 7 | $ 1,810,000 | $ 258,571 | $ 110,000 |
| Stockton, CA | 7 | $ 1,454,000 | $ 207,714 | $ 87,000 |
| Vallejo-Fairfield, CA | 5 | $ 1,193,000 | $ 238,600 | $ 98,000 |
| Modesto, CA | 4 | $ 967,000 | $ 241,750 | $ 105,000 |
| Salinas, CA | 4 | $ 905,000 | $ 226,250 | $ 91,000 |
| Santa Barbara-Santa Maria-Goleta, CA | 4 | $ 2,635,000 | $ 658,750 | $ 207,000 |
| Madera, CA | 3 | $ 422,000 | $ 140,666 | $ 46,000 |
| Santa Cruz-Watsonville, CA | 2 | $ 654,000 | $ 327,000 | $ 151,000 |
| Santa Rosa-Petaluma, CA | 2 | $ 464,000 | $ 232,000 | $ 94,000 |
| Denver-Aurora, CO | 1 | $ 205,000 | $ 205,000 | $ 90,000 |
| Napa, CA | 1 | $ 318,000 | $ 318,000 | $ 200,000 |
| Redding, CA | 1 | $ 124,000 | $ 124,000 | $ 126,000 |
Mortgage Loan Application Detail Totals for First Source Funding Group, in in 2004
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 | 1,326 | $401,157,000 | $253,500 | $2,420,000 | $100,500 | $960,000 |
| Home Purchase | 588 | $209,709,000 | $330,000 | $1,940,000 | $136,000 | $1,038,000 |
| 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 | 1,011 | $323,567,000 | $296,000 | $2,420,000 | $130,000 | $933,000 |
| Not Provided | 476 | $148,702,000 | $271,500 | $1,940,000 | $127,000 | $1,038,000 |
| Asian | 185 | $65,955,000 | $288,000 | $1,480,000 | $120,000 | $600,000 |
| Hispanic | 142 | $39,082,000 | $271,000 | $1,480,000 | $114,000 | $960,000 |
| Native Hawaiian or Other Pacific Islander | 78 | $24,245,000 | $310,000 | $1,366,000 | $113,000 | $444,000 |
| Black or African American | 19 | $7,615,000 | $347,500 | $1,680,000 | $100,000 | $420,000 |
| American Indian or Alaskan Native | 3 | $1,700,000 | $566,000 | $650,000 | $142,000 | $180,000 |
| 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) | 1,912 | $610,336,000 | $275,000 | $2,420,000 | $116,000 | $1,038,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $420,000 | $420,000 | $420,000 | $151,000 | $151,000 |
| VA-guaranteed (Veterans Administration) | 1 | $110,000 | $110,000 | $110,000 | $90,000 | $90,000 |
| FHA-insured (Federal Housing 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 | 1,053 | $337,608,000 | $320,000 | $2,420,000 | $124,000 | $1,038,000 |
| Application Approved But Not Accepted | 470 | $140,973,000 | $267,500 | $1,819,000 | $98,500 | $597,000 |
| Application Denied By Financial Institution | 269 | $83,753,000 | $308,500 | $1,940,000 | $142,500 | $480,000 |
| File Closed For Incompleteness | 68 | $29,327,000 | $352,500 | $1,480,000 | $143,500 | $420,000 |
| Application Withdrawn By Applicant | 54 | $19,205,000 | $319,000 | $1,392,000 | $125,000 | $456,000 |
| 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 | 104 | $29,827,000 | $157,000 | $1,940,000 | $111,500 | $420,000 |
| Other | 89 | $28,103,000 | $319,000 | $1,500,000 | $155,000 | $480,000 |
| Debt-To-Income Ratio | 33 | $10,544,000 | $319,000 | $940,000 | $98,000 | $283,000 |
| Unverifiable Information | 27 | $10,136,000 | $375,000 | $1,312,000 | $132,000 | $320,000 |
| Collateral | 10 | $3,018,000 | $301,000 | $650,000 | $94,000 | $317,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $1,263,000 | $315,000 | $395,000 | $98,000 | $118,000 |
| Employment History | 1 | $520,000 | $520,000 | $520,000 | $216,000 | $216,000 |
| Credit Application Incomplete | 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 Source Funding Group, in's 2004 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 Source Funding Group, in'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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