Foundation Mortgage Corporation Mortgage Lending & HMDA Data, 2024
In 2024, Foundation Mortgage Corporation of Miami Beach, FL reported 2,202 mortgage applications totaling $1.5 billion, up 134% from 2023. The average application was for $658,564, and applicants reported an average income of $457,542. 50% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (262), New York-Jersey City-White Plains, NY-NJ (114) and Miami-Miami Beach-Kendall, FL (95) (applications in parentheses).
| Mortgage Company & Address | Foundation Mortgage Corporation 1680 Michigan Ave Suite 700 Miami Beach, FL 33139 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 |
| Total Number of Mortgage Applications | 2,202 |
| Total Mortgage Loan Application Amount | $1,450,160,000 |
| Average Mortgage Loan Application Amount | $658,564 |
| Highest Mortgage Loan Application Amount | $6,805,000 |
| Average Applicant Income | $457,542 |
| Highest Applicant Income | $9,999,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Foundation Mortgage Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Foundation Mortgage Corporation in 2024
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 | 1,151 | $772,225,000 | $670,000 | $6,005,000 | $532,000 | $8,578,000 |
| Home Purchase | 1,051 | $677,935,000 | $645,000 | $6,805,000 | $376,000 | $9,999,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 739 | $553,715,000 | $749,000 | $6,005,000 | $508,000 | $9,999,000 |
| Not Provided | 696 | $472,440,000 | $678,000 | $6,805,000 | $422,000 | $9,154,000 |
| Hispanic | 398 | $210,370,000 | $528,000 | $3,005,000 | $357,000 | $8,578,000 |
| Asian | 212 | $133,610,000 | $630,000 | $3,405,000 | $366,000 | $4,312,000 |
| Black or African American | 151 | $77,125,000 | $510,000 | $3,185,000 | $428,000 | $6,305,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $1,335,000 | $445,000 | $575,000 | $0 | $0 |
| Not applicable | 2 | $1,320,000 | $660,000 | $975,000 | $377,000 | $377,000 |
| American Indian or Alaskan Native | 1 | $245,000 | $245,000 | $245,000 | $78,000 | $78,000 |
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) | 2,202 | $1,450,160,000 | $658,000 | $6,805,000 | $435,000 | $9,999,000 |
| 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 | 1,096 | $717,690,000 | $654,000 | $4,255,000 | $536,000 | $9,999,000 |
| Application Approved But Not Accepted | 634 | $416,370,000 | $656,000 | $3,505,000 | $351,000 | $5,079,000 |
| Application Denied By Financial Institution | 389 | $238,595,000 | $613,000 | $4,975,000 | $258,000 | $3,524,000 |
| Application Withdrawn By Applicant | 68 | $61,570,000 | $905,000 | $6,805,000 | $611,000 | $4,381,000 |
| File Closed For Incompleteness | 15 | $15,935,000 | $1,062,000 | $4,005,000 | $394,000 | $2,400,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 1,813 | $1,211,565,000 | $668,000 | $6,805,000 | $472,000 | $9,999,000 |
| Collateral | 111 | $57,865,000 | $521,000 | $3,185,000 | $274,000 | $3,524,000 |
| Other | 97 | $62,455,000 | $643,000 | $4,975,000 | $269,000 | $2,702,000 |
| Debt-To-Income Ratio | 63 | $49,695,000 | $788,000 | $4,005,000 | $251,000 | $1,093,000 |
| Credit History | 49 | $29,675,000 | $605,000 | $4,955,000 | $376,000 | $2,843,000 |
| Unverifiable Information | 45 | $29,435,000 | $654,000 | $3,505,000 | $225,000 | $2,455,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 22 | $7,910,000 | $359,000 | $1,055,000 | $72,000 | $336,000 |
| Employment History | 2 | $1,560,000 | $780,000 | $1,125,000 | $224,000 | $366,000 |
| 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 Mortgage Corporation's 2024 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 Mortgage Corporation'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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