Franklin American Mortgage Company Mortgage Lending & HMDA Data, 2016
In 2016, Franklin American Mortgage Company of Franklin, TN reported 101,846 mortgage applications totaling $21.5 billion, down 5% from 2015. The average application was for $211,112, and applicants reported an average income of $38,961. 33% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Nashville-Davidson--Murfreesboro--Franklin, TN (3,657), Denver-Aurora-Lakewood, CO (2,701) and Atlanta-Sandy Springs-Roswell, GA (1,849) (applications in parentheses).
| Mortgage Company & Address | Franklin American Mortgage Company 6100 Tower Circle Suite 600 Franklin, TN 37067 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2017 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 101,846 |
| Total Mortgage Loan Application Amount | $21,500,980,000 |
| Average Mortgage Loan Application Amount | $211,112 |
| Highest Mortgage Loan Application Amount | $1,425,000 |
| Average Applicant Income | $38,961 |
| Highest Applicant Income | $3,032,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Franklin American Mortgage Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Franklin American Mortgage Company in 2016
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 | 61,152 | $12,426,524,000 | $203,000 | $1,400,000 | $37,000 | $2,780,000 |
| Refinancing | 40,008 | $8,929,984,000 | $223,000 | $1,425,000 | $41,000 | $3,032,000 |
| Home Improvement | 686 | $144,472,000 | $210,000 | $720,000 | $95,000 | $1,234,000 |
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 |
|---|---|---|---|---|---|---|
| Not applicable | 57,996 | $12,098,465,000 | $208,000 | $902,000 | $0 | $0 |
| White | 34,265 | $7,182,709,000 | $209,000 | $1,425,000 | $92,000 | $3,032,000 |
| Hispanic | 3,367 | $764,382,000 | $227,000 | $800,000 | $78,000 | $655,000 |
| Black or African American | 2,067 | $408,840,000 | $197,000 | $1,139,000 | $75,000 | $551,000 |
| Not Provided | 1,996 | $480,350,000 | $240,000 | $1,375,000 | $103,000 | $1,026,000 |
| Asian | 1,883 | $503,704,000 | $267,000 | $900,000 | $106,000 | $611,000 |
| American Indian or Alaskan Native | 147 | $28,327,000 | $192,000 | $417,000 | $90,000 | $370,000 |
| Native Hawaiin or Other Pacific Islander | 125 | $34,203,000 | $273,000 | $636,000 | $87,000 | $240,000 |
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) | 74,828 | $16,462,186,000 | $220,000 | $1,425,000 | $41,000 | $3,032,000 |
| FHA-insured (Federal Housing Administration) | 17,121 | $3,039,863,000 | $177,000 | $776,000 | $32,000 | $597,000 |
| VA-guaranteed (Veterans Administration) | 7,059 | $1,622,373,000 | $229,000 | $985,000 | $39,000 | $680,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2,838 | $376,558,000 | $132,000 | $396,000 | $27,000 | $108,000 |
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 Purchased By The Institution | 57,996 | $12,098,465,000 | $208,000 | $902,000 | $0 | $0 |
| Loan Originated | 33,295 | $7,143,909,000 | $214,000 | $1,364,000 | $93,000 | $2,780,000 |
| Application Denied By Financial Institution | 3,979 | $867,281,000 | $217,000 | $1,400,000 | $81,000 | $3,032,000 |
| Application Approved But Not Accepted | 3,727 | $787,995,000 | $211,000 | $1,095,000 | $89,000 | $1,297,000 |
| Application Withdrawn By Applicant | 1,683 | $358,798,000 | $213,000 | $1,425,000 | $86,000 | $659,000 |
| File Closed For Incompleteness | 1,098 | $229,855,000 | $209,000 | $1,375,000 | $89,000 | $1,236,000 |
| Preapproval Denied by Financial Institution | 68 | $14,677,000 | $215,000 | $625,000 | $65,000 | $195,000 |
| Preapproval 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 1,296 | $299,389,000 | $231,000 | $1,308,000 | $62,000 | $454,000 |
| Credit History | 827 | $168,542,000 | $203,000 | $1,100,000 | $79,000 | $960,000 |
| Collateral | 726 | $153,585,000 | $211,000 | $749,000 | $98,000 | $1,293,000 |
| Other | 598 | $125,077,000 | $209,000 | $1,400,000 | $84,000 | $1,234,000 |
| Unverifiable Information | 339 | $80,872,000 | $238,000 | $1,095,000 | $116,000 | $3,032,000 |
| Employment History | 162 | $31,972,000 | $197,000 | $760,000 | $71,000 | $838,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 61 | $12,836,000 | $210,000 | $596,000 | $77,000 | $258,000 |
| Credit Application Incomplete | 37 | $9,459,000 | $255,000 | $776,000 | $91,000 | $365,000 |
| Mortgage Insurance Denied | 1 | $226,000 | $226,000 | $226,000 | $50,000 | $50,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Franklin American Mortgage Company's 2016 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 Franklin American Mortgage Company'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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with aggregated HMDA statistics today.
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