Freedom Mortgage Corp. Mortgage Lending & HMDA Data, 2010
In 2010, Freedom Mortgage Corp. of Fishers, IN reported 33,495 mortgage applications totaling $6.4 billion, down 44% from 2009. The average application was for $192,276, and applicants reported an average income of $47,466. 49% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Orlando-Kissimmee-Sanford, FL (1,360), Phoenix-Mesa-Glendale, AZ (1,285) and Indianapolis-Carmel, IN (1,056) (applications in parentheses).
| Mortgage Company & Address | Freedom Mortgage Corp. 10500 Kincaid Dr. Ste. 300 Fishers, IN 46037 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 33,495 |
| Total Mortgage Loan Application Amount | $6,440,291,000 |
| Average Mortgage Loan Application Amount | $192,276 |
| Highest Mortgage Loan Application Amount | $1,949,000 |
| Average Applicant Income | $47,466 |
| Highest Applicant Income | $6,500,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Freedom Mortgage Corp. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Freedom Mortgage Corp. in 2010
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 | 23,634 | $4,876,057,000 | $206,000 | $1,949,000 | $43,000 | $2,040,000 |
| Home Purchase | 9,784 | $1,549,553,000 | $158,000 | $995,000 | $58,000 | $6,500,000 |
| Home Improvement | 77 | $14,681,000 | $190,000 | $743,000 | $80,000 | $240,000 |
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 |
|---|---|---|---|---|---|---|
| White | 19,274 | $3,740,309,000 | $194,000 | $1,949,000 | $51,000 | $2,040,000 |
| Black or African American | 4,732 | $857,582,000 | $181,000 | $995,000 | $39,000 | $6,500,000 |
| Not Provided | 4,192 | $872,509,000 | $208,000 | $1,127,000 | $52,000 | $700,000 |
| Hispanic | 3,443 | $582,014,000 | $169,000 | $675,000 | $43,000 | $1,270,000 |
| Not applicable | 877 | $148,832,000 | $169,000 | $763,000 | $0 | $0 |
| Asian | 773 | $191,066,000 | $247,000 | $729,000 | $75,000 | $1,044,000 |
| Native Hawaiian or Other Pacific Islander | 127 | $32,604,000 | $256,000 | $737,000 | $46,000 | $185,000 |
| American Indian or Alaskan Native | 77 | $15,375,000 | $199,000 | $516,000 | $31,000 | $182,000 |
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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 17,649 | $3,074,650,000 | $174,000 | $995,000 | $54,000 | $1,745,000 |
| VA-guaranteed (Veterans Administration) | 10,189 | $2,251,131,000 | $220,000 | $1,127,000 | $10,000 | $2,040,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 5,450 | $1,089,791,000 | $199,000 | $1,949,000 | $98,000 | $6,500,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 207 | $24,719,000 | $119,000 | $321,000 | $40,000 | $100,000 |
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 | 16,435 | $3,249,705,000 | $197,000 | $993,000 | $43,000 | $1,270,000 |
| Application Denied By Financial Institution | 5,879 | $1,092,946,000 | $185,000 | $1,127,000 | $54,000 | $2,040,000 |
| File Closed For Incompleteness | 5,053 | $965,580,000 | $191,000 | $821,000 | $52,000 | $1,062,000 |
| Application Withdrawn By Applicant | 4,400 | $813,832,000 | $184,000 | $1,949,000 | $63,000 | $6,500,000 |
| Loan Purchased By The Institution | 877 | $148,832,000 | $169,000 | $763,000 | $0 | $0 |
| Application Approved But Not Accepted | 851 | $169,396,000 | $199,000 | $788,000 | $40,000 | $486,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Freedom Mortgage Corp.'s 2010 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 Freedom Mortgage Corp.'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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