Foundation Financial Group Mortgage Lending & HMDA Data, 2008
In 2008, Foundation Financial Group of Atlanta, GA reported 1,149 mortgage applications totaling $186.9 million, up 232% from 2007. The average application was for $162,629, and applicants reported an average income of $57,221. 77% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (97), Virginia Beach-Norfolk-Newport News, VA-NC (43) and Baltimore-Towson, MD (39) (applications in parentheses).
| Mortgage Company & Address | Foundation Financial Group 100 Galleria Pkwy, Suite 1400 Atlanta, GA 30339 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 |
| Total Number of Mortgage Applications | 1,149 |
| Total Mortgage Loan Application Amount | $186,861,000 |
| Average Mortgage Loan Application Amount | $162,629 |
| Highest Mortgage Loan Application Amount | $659,000 |
| Average Applicant Income | $57,221 |
| Highest Applicant Income | $315,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Foundation Financial Group filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Atlanta-Sandy Springs-Marietta, GA | 97 | $ 16,214,000 | $ 167,154 | $ 57,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 43 | $ 7,159,000 | $ 166,488 | $ 49,186 |
| Baltimore-Towson, MD | 39 | $ 6,944,000 | $ 178,051 | $ 55,000 |
| Jacksonville, FL | 34 | $ 4,612,000 | $ 135,647 | $ 46,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 33 | $ 7,776,000 | $ 235,636 | $ 67,696 |
| Philadelphia, PA | 30 | $ 5,237,000 | $ 174,566 | $ 62,000 |
| Richmond, VA | 27 | $ 4,148,000 | $ 153,629 | $ 57,000 |
| Birmingham-Hoover, AL | 25 | $ 3,028,000 | $ 121,120 | $ 56,000 |
| Tampa-St. Petersburg-Clearwater, FL | 25 | $ 3,515,000 | $ 140,600 | $ 52,000 |
| Miami-Miami Beach-Kendall, FL | 21 | $ 3,833,000 | $ 182,523 | $ 58,000 |
| Orlando-Kissimmee, FL | 20 | $ 3,322,000 | $ 166,100 | $ 54,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 18 | $ 2,349,000 | $ 130,500 | $ 49,000 |
| Wilmington, DE-MD-NJ | 17 | $ 3,263,000 | $ 191,941 | $ 68,823 |
| Memphis, TN-MS-AR | 15 | $ 2,186,000 | $ 145,733 | $ 70,000 |
| Mobile, AL | 14 | $ 1,630,000 | $ 116,428 | $ 55,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 12 | $ 2,302,000 | $ 191,833 | $ 74,000 |
| Knoxville, TN | 12 | $ 1,999,000 | $ 166,583 | $ 63,000 |
| Macon, GA | 12 | $ 1,246,000 | $ 103,833 | $ 96,000 |
| Columbia, SC | 10 | $ 1,470,000 | $ 147,000 | $ 55,000 |
| Pittsburgh, PA | 10 | $ 1,319,000 | $ 131,900 | $ 53,000 |
| Charlotte-Gastonia-Concord, NC-SC | 9 | $ 1,312,000 | $ 145,777 | $ 63,111 |
| Montgomery, AL | 9 | $ 1,324,000 | $ 147,111 | $ 71,000 |
| Boston-Quincy, MA | 8 | $ 1,923,000 | $ 240,375 | $ 57,000 |
| Charleston-North Charleston-Summerville, SC | 8 | $ 1,475,000 | $ 184,375 | $ 47,000 |
| Columbus, GA-AL | 8 | $ 1,105,000 | $ 138,125 | $ 58,000 |
| Savannah, GA | 8 | $ 1,306,000 | $ 163,250 | $ 72,000 |
| St. Louis, MO-IL | 8 | $ 1,020,000 | $ 127,500 | $ 52,000 |
| Tulsa, OK | 8 | $ 1,087,000 | $ 135,875 | $ 46,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 7 | $ 1,092,000 | $ 156,000 | $ 56,000 |
| Huntsville, AL | 7 | $ 1,101,000 | $ 157,285 | $ 69,000 |
| Ocala, FL | 7 | $ 1,074,000 | $ 153,428 | $ 55,000 |
| Panama City-Lynn Haven, FL | 7 | $ 1,076,000 | $ 153,714 | $ 73,000 |
| Sebastian-Vero Beach, FL | 7 | $ 844,000 | $ 120,571 | $ 57,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 7 | $ 1,036,000 | $ 148,000 | $ 40,000 |
| Worcester, MA | 7 | $ 1,876,000 | $ 268,000 | $ 69,000 |
| Greenville-Mauldin-Easley, SC | 6 | $ 1,440,000 | $ 240,000 | $ 78,000 |
| Kingsport-Bristol-Bristol, TN-VA | 6 | $ 714,000 | $ 119,000 | $ 47,000 |
| New Haven-Milford, CT | 6 | $ 1,220,000 | $ 203,333 | $ 70,000 |
| Palm Bay-Melbourne-Titusville, FL | 6 | $ 871,000 | $ 145,166 | $ 46,000 |
| Springfield, MA | 6 | $ 947,000 | $ 157,833 | $ 53,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 5 | $ 878,000 | $ 175,600 | $ 60,000 |
| Greensboro-High Point, NC | 5 | $ 639,000 | $ 127,800 | $ 53,000 |
| Kansas City, MO-KS | 5 | $ 619,000 | $ 123,800 | $ 69,000 |
| Port St. Lucie, FL | 5 | $ 751,000 | $ 150,200 | $ 49,000 |
| Raleigh-Cary, NC | 5 | $ 942,000 | $ 188,400 | $ 81,000 |
| Winston-Salem, NC | 5 | $ 636,000 | $ 127,200 | $ 62,000 |
| York-Hanover, PA | 5 | $ 925,000 | $ 185,000 | $ 58,000 |
| Bradenton-Sarasota-Venice, FL | 4 | $ 573,000 | $ 143,250 | $ 38,000 |
| Bridgeport-Stamford-Norwalk, CT | 4 | $ 845,000 | $ 211,250 | $ 43,000 |
| Cape Coral-Fort Myers, FL | 4 | $ 793,000 | $ 198,250 | $ 56,000 |
| Chattanooga, TN-GA | 4 | $ 484,000 | $ 121,000 | $ 36,000 |
| Decatur, AL | 4 | $ 507,000 | $ 126,750 | $ 35,000 |
| Hartford-West Hartford-East Hartford, CT | 4 | $ 842,000 | $ 210,500 | $ 68,000 |
| Lancaster, PA | 4 | $ 733,000 | $ 183,250 | $ 55,000 |
| Lynchburg, VA | 4 | $ 569,000 | $ 142,250 | $ 50,000 |
| Myrtle Beach-North Myrtle Beach-Conway, SC | 4 | $ 671,000 | $ 167,750 | $ 48,000 |
| Tallahassee, FL | 4 | $ 685,000 | $ 171,250 | $ 56,000 |
| Tuscaloosa, AL | 4 | $ 667,000 | $ 166,750 | $ 64,000 |
| Brunswick, GA | 3 | $ 522,000 | $ 174,000 | $ 72,000 |
| Clarksville, TN-KY | 3 | $ 412,000 | $ 137,333 | $ 34,000 |
| Florence-Muscle Shoals, AL | 3 | $ 371,000 | $ 123,666 | $ 42,000 |
| Gainesville, FL | 3 | $ 407,000 | $ 135,666 | $ 52,000 |
| Gary, IN | 3 | $ 429,000 | $ 143,000 | $ 53,000 |
| Gulfport-Biloxi, MS | 3 | $ 420,000 | $ 140,000 | $ 58,000 |
| Hagerstown-Martinsburg, MD-WV | 3 | $ 498,000 | $ 166,000 | $ 41,000 |
| Harrisburg-Carlisle, PA | 3 | $ 447,000 | $ 149,000 | $ 39,000 |
| Jackson, MS | 3 | $ 400,000 | $ 133,333 | $ 51,000 |
| Norwich-New London, CT | 3 | $ 653,000 | $ 217,666 | $ 59,000 |
| Salisbury, MD | 3 | $ 712,000 | $ 237,333 | $ 47,000 |
| Spartanburg, SC | 3 | $ 390,000 | $ 130,000 | $ 53,000 |
| Sumter, SC | 3 | $ 570,000 | $ 190,000 | $ 66,000 |
| Valdosta, GA | 3 | $ 430,000 | $ 143,333 | $ 50,000 |
| Albany, GA | 2 | $ 525,000 | $ 262,500 | $ 64,000 |
| Anniston-Oxford, AL | 2 | $ 252,000 | $ 126,000 | $ 54,000 |
| Auburn-Opelika, AL | 2 | $ 410,000 | $ 205,000 | $ 49,000 |
| Bethesda-Frederick-Gaithersburg, MD | 2 | $ 746,000 | $ 373,000 | $ 162,000 |
| Cambridge-Newton-Framingham, MA | 2 | $ 597,000 | $ 298,500 | $ 58,000 |
| Charlottesville, VA | 2 | $ 261,000 | $ 130,500 | $ 29,000 |
| Cincinnati-Middletown, OH-KY-IN | 2 | $ 227,000 | $ 113,500 | $ 51,000 |
| Detroit-Livonia-Dearborn, MI | 2 | $ 225,000 | $ 112,500 | $ 40,000 |
| Dover, DE | 2 | $ 343,000 | $ 171,500 | $ 85,000 |
| Fayetteville, NC | 2 | $ 262,000 | $ 131,000 | $ 50,000 |
| Fort Walton Beach-Crestview-Destin, FL | 2 | $ 292,000 | $ 146,000 | $ 45,000 |
| Goldsboro, NC | 2 | $ 354,000 | $ 177,000 | $ 92,000 |
| Hinesville-Fort Stewart, GA | 2 | $ 250,000 | $ 125,000 | $ 57,000 |
| Indianapolis-Carmel, IN | 2 | $ 202,000 | $ 101,000 | $ 28,000 |
| Newark-Union, NJ-PA | 2 | $ 325,000 | $ 162,500 | $ 52,000 |
| Pascagoula, MS | 2 | $ 277,000 | $ 138,500 | $ 123,000 |
| Peabody, MA | 2 | $ 711,000 | $ 355,500 | $ 102,000 |
| Providence-New Bedford-Fall River, RI-MA | 2 | $ 400,000 | $ 200,000 | $ 55,000 |
| Reading, PA | 2 | $ 271,000 | $ 135,500 | $ 55,000 |
| Roanoke, VA | 2 | $ 286,000 | $ 143,000 | $ 40,000 |
| Rocky Mount, NC | 2 | $ 205,000 | $ 102,500 | $ 33,000 |
| Scranton--Wilkes-Barre, PA | 2 | $ 270,000 | $ 135,000 | $ 60,000 |
| Springfield, MO | 2 | $ 202,000 | $ 101,000 | $ 38,000 |
| Warner Robins, GA | 2 | $ 226,000 | $ 113,000 | $ 62,000 |
| Winchester, VA-WV | 2 | $ 343,000 | $ 171,500 | $ 33,000 |
| Youngstown-Warren-Boardman, OH-PA | 2 | $ 507,000 | $ 253,500 | $ 85,500 |
| Akron, OH | 1 | $ 267,000 | $ 267,000 | $ 95,000 |
| Asheville, NC | 1 | $ 255,000 | $ 255,000 | $ 99,000 |
| Athens-Clarke County, GA | 1 | $ 246,000 | $ 246,000 | $ 62,000 |
| Augusta-Richmond County, GA-SC | 1 | $ 106,000 | $ 106,000 | $ 67,000 |
| Burlington, NC | 1 | $ 114,000 | $ 114,000 | $ 80,000 |
| Cleveland, TN | 1 | $ 67,000 | $ 67,000 | $ 15,000 |
| Cleveland-Elyria-Mentor, OH | 1 | $ 130,000 | $ 130,000 | $ 75,000 |
| Danville, VA | 1 | $ 129,000 | $ 129,000 | $ 39,000 |
| Dothan, AL | 1 | $ 128,000 | $ 128,000 | $ 36,000 |
| Durham, NC | 1 | $ 139,000 | $ 139,000 | $ 40,000 |
| Florence, SC | 1 | $ 166,000 | $ 166,000 | $ 36,000 |
| Fort Wayne, IN | 1 | $ 120,000 | $ 120,000 | $ 73,000 |
| Gainesville, GA | 1 | $ 296,000 | $ 296,000 | $ 69,000 |
| Harrisonburg, VA | 1 | $ 158,000 | $ 158,000 | $ 78,000 |
| Jackson, TN | 1 | $ 133,000 | $ 133,000 | $ 59,000 |
| Johnson City, TN | 1 | $ 106,000 | $ 106,000 | $ 23,000 |
| Joplin, MO | 1 | $ 119,000 | $ 119,000 | $ 66,000 |
| Lakeland-Winter Haven, FL | 1 | $ 114,000 | $ 114,000 | $ 38,000 |
| Lebanon, PA | 1 | $ 96,000 | $ 96,000 | $ 76,000 |
| Louisville-Jefferson County, KY-IN | 1 | $ 308,000 | $ 308,000 | $ 149,000 |
| Michigan City-La Porte, IN | 1 | $ 94,000 | $ 94,000 | $ 52,000 |
| Morristown, TN | 1 | $ 136,000 | $ 136,000 | $ 72,000 |
| Muncie, IN | 1 | $ 131,000 | $ 131,000 | $ 57,000 |
| Naples-Marco Island, FL | 1 | $ 310,000 | $ 310,000 | $ 108,000 |
| Oklahoma City, OK | 1 | $ 182,000 | $ 182,000 | $ 59,000 |
| Pensacola-Ferry Pass-Brent, FL | 1 | $ 90,000 | $ 90,000 | $ 40,000 |
| Pittsfield, MA | 1 | $ 210,000 | $ 210,000 | $ 38,000 |
| Rome, GA | 1 | $ 89,000 | $ 89,000 | $ 50,000 |
| St. Joseph, MO-KS | 1 | $ 42,000 | $ 42,000 | $ 27,000 |
| State College, PA | 1 | $ 260,000 | $ 260,000 | $ 100,000 |
| Warren-Troy-Farmington Hills, MI | 1 | $ 93,000 | $ 93,000 | $ 52,000 |
Mortgage Loan Application Detail Totals for Foundation Financial Group 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 |
|---|---|---|---|---|---|---|
| Refinancing | 1,132 | $184,355,000 | $162,000 | $659,000 | $57,000 | $315,000 |
| Home Purchase | 17 | $2,506,000 | $147,000 | $329,000 | $72,000 | $166,000 |
| 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 | 516 | $84,812,000 | $164,000 | $659,000 | $59,000 | $315,000 |
| Not Provided | 289 | $47,851,000 | $165,000 | $648,000 | $59,000 | $286,000 |
| Black or African American | 273 | $41,669,000 | $152,000 | $391,000 | $52,000 | $166,000 |
| Hispanic | 37 | $6,201,000 | $167,000 | $272,000 | $51,000 | $110,000 |
| American Indian or Alaskan Native | 28 | $5,002,000 | $178,000 | $416,000 | $78,000 | $240,000 |
| Asian | 3 | $802,000 | $267,000 | $380,000 | $71,000 | $82,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $524,000 | $174,000 | $223,000 | $62,000 | $92,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 596 | $94,404,000 | $158,000 | $648,000 | $58,000 | $292,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 553 | $92,457,000 | $167,000 | $659,000 | $57,000 | $315,000 |
| 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 | 889 | $142,111,000 | $159,000 | $609,000 | $57,000 | $315,000 |
| Application Denied By Financial Institution | 143 | $23,851,000 | $166,000 | $659,000 | $55,000 | $240,000 |
| Application Withdrawn By Applicant | 117 | $20,899,000 | $178,000 | $648,000 | $68,000 | $286,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| 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 | 30 | $4,924,000 | $164,000 | $411,000 | $56,000 | $118,000 |
| Debt-To-Income Ratio | 30 | $5,476,000 | $182,000 | $396,000 | $48,000 | $89,000 |
| Collateral | 25 | $3,284,000 | $131,000 | $304,000 | $54,000 | $99,000 |
| Other | 18 | $2,693,000 | $149,000 | $261,000 | $61,000 | $240,000 |
| Employment History | 7 | $1,018,000 | $145,000 | $177,000 | $52,000 | $105,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 6 | $871,000 | $145,000 | $169,000 | $44,000 | $64,000 |
| Unverifiable Information | 1 | $217,000 | $217,000 | $217,000 | $80,000 | $80,000 |
| 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 Foundation Financial Group'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 Foundation Financial Group'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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