Flagship Mortgage, Llc. Mortgage Lending & HMDA Data, 2008
In 2008, Flagship Mortgage, Llc. of Birmingham, AL reported 176 mortgage applications totaling $20.0 million, up 100% from 2007. The average application was for $113,823, and applicants reported an average income of $52,159. 57% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Montgomery, AL (111), Birmingham-Hoover, AL (3) and Auburn-Opelika, AL (1) (applications in parentheses).
| Mortgage Company & Address | Flagship Mortgage, Llc. 1900 Crestwood Boulevard Birmingham, AL 35210 |
| Federal Regulator | * available with data download |
| Years | 2008 2007 |
| Total Number of Mortgage Applications | 176 |
| Total Mortgage Loan Application Amount | $20,033,000 |
| Average Mortgage Loan Application Amount | $113,823 |
| Highest Mortgage Loan Application Amount | $408,000 |
| Average Applicant Income | $52,159 |
| Highest Applicant Income | $438,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Flagship Mortgage, 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 filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Montgomery, Alabama | 65 | $ 7,101,000 | $ 109,246 | $ 52,000 |
| Elmore, Alabama | 25 | $ 3,224,000 | $ 128,960 | $ 71,000 |
| Autauga, Alabama | 21 | $ 2,398,000 | $ 114,190 | $ 61,000 |
| Chilton, Alabama | 3 | $ 195,000 | $ 65,000 | $ 35,000 |
| Tallapoosa, Alabama | 3 | $ 311,000 | $ 103,666 | $ 78,000 |
| Dallas, Alabama | 1 | $ 108,000 | $ 108,000 | $ 62,000 |
| Lee, Alabama | 1 | $ 157,000 | $ 157,000 | $ 26,000 |
| Richland, South Carolina | 1 | $ 31,000 | $ 31,000 | $ 14,000 |
Mortgage Loan Application Detail Totals for Flagship Mortgage, Llc. 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 | 169 | $19,226,000 | $113,000 | $408,000 | $52,000 | $438,000 |
| Refinancing | 7 | $807,000 | $115,000 | $174,000 | $56,000 | $97,000 |
| 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 | 102 | $12,900,000 | $126,000 | $408,000 | $62,000 | $438,000 |
| Black or African American | 70 | $6,723,000 | $96,000 | $303,000 | $39,000 | $104,000 |
| Hispanic | 2 | $260,000 | $130,000 | $140,000 | $44,000 | $44,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $90,000 | $90,000 | $90,000 | $29,000 | $29,000 |
| Asian | 1 | $60,000 | $60,000 | $60,000 | $21,000 | $21,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 96 | $10,551,000 | $109,000 | $236,000 | $41,000 | $121,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 52 | $4,541,000 | $87,000 | $408,000 | $63,000 | $438,000 |
| VA-guaranteed (Veterans Administration) | 27 | $4,873,000 | $180,000 | $386,000 | $71,000 | $203,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $68,000 | $68,000 | $68,000 | $30,000 | $30,000 |
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 | 101 | $10,998,000 | $108,000 | $408,000 | $59,000 | $438,000 |
| Preapproval Denied by Financial Institution | 54 | $6,331,000 | $117,000 | $404,000 | $42,000 | $121,000 |
| Application Withdrawn By Applicant | 10 | $1,452,000 | $145,000 | $274,000 | $54,000 | $94,000 |
| Application Denied By Financial Institution | 5 | $454,000 | $90,000 | $162,000 | $27,000 | $40,000 |
| File Closed For Incompleteness | 4 | $621,000 | $155,000 | $400,000 | $55,000 | $120,000 |
| Preapproval Approved but not Accepted | 2 | $177,000 | $88,000 | $118,000 | $40,000 | $66,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 49 | $5,665,000 | $115,000 | $404,000 | $40,000 | $121,000 |
| Debt-To-Income Ratio | 6 | $780,000 | $130,000 | $197,000 | $59,000 | $77,000 |
| Other | 2 | $255,000 | $127,000 | $128,000 | $36,000 | $37,000 |
| Collateral | 1 | $31,000 | $31,000 | $31,000 | $14,000 | $14,000 |
| Credit Application Incomplete | 1 | $54,000 | $54,000 | $54,000 | $12,000 | $12,000 |
| Unverifiable Information | 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 Flagship Mortgage, Llc.'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 Flagship Mortgage, 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.
For a list of all lenders in Alabama, download the full spreadsheet
with aggregated HMDA statistics today.
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