Ge Money Bank Mortgage Lending & HMDA Data, 2007
In 2007, Ge Money Bank of Salt Lake City, UT reported 149,564 mortgage applications totaling $19.0 billion, up 108% from 2006. The average application was for $126,758, and applicants reported an average income of $102,650. 26% of its applications resulted in an originated loan and 57% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (6,500), Riverside-San Bernardino-Ontario, CA (6,159) and New York-White Plains-Wayne, NY-NJ (5,711) (applications in parentheses).
| Mortgage Company & Address | Ge Money Bank 4246 South Riverboat Rdcsuite 200 Salt Lake City, UT 84123 |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 |
| Total Number of Mortgage Applications | 149,564 |
| Total Mortgage Loan Application Amount | $18,958,435,000 |
| Average Mortgage Loan Application Amount | $126,758 |
| Highest Mortgage Loan Application Amount | $29,000,000 |
| Average Applicant Income | $102,650 |
| Highest Applicant Income | $9,999,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Ge Money Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Ge Money Bank in 2007
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 Improvement | 75,985 | $2,449,946,000 | $32,000 | $29,000,000 | $91,000 | $9,999,000 |
| Home Purchase | 41,236 | $8,214,811,000 | $199,000 | $2,200,000 | $116,000 | $9,999,000 |
| Refinancing | 32,343 | $8,293,678,000 | $256,000 | $2,029,000 | $113,000 | $9,999,000 |
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 | 54,749 | $5,821,630,000 | $106,000 | $2,530,000 | $103,000 | $9,999,000 |
| Not Provided | 39,909 | $3,430,173,000 | $85,000 | $1,530,000 | $95,000 | $9,999,000 |
| Hispanic | 27,372 | $5,118,710,000 | $187,000 | $1,577,000 | $111,000 | $9,999,000 |
| Black or African American | 22,108 | $3,367,012,000 | $152,000 | $29,000,000 | $94,000 | $9,999,000 |
| Asian | 3,769 | $958,679,000 | $254,000 | $2,029,000 | $153,000 | $9,999,000 |
| Native Hawaiian or Other Pacific Islander | 812 | $176,564,000 | $217,000 | $1,320,000 | $128,000 | $1,465,000 |
| American Indian or Alaskan Native | 809 | $81,915,000 | $101,000 | $1,150,000 | $107,000 | $1,164,000 |
| Not applicable | 36 | $3,752,000 | $104,000 | $488,000 | $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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 149,564 | $18,958,435,000 | $126,000 | $29,000,000 | $102,000 | $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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 85,516 | $13,652,921,000 | $159,000 | $29,000,000 | $104,000 | $9,999,000 |
| Loan Originated | 38,675 | $4,249,296,000 | $109,000 | $1,794,000 | $101,000 | $9,999,000 |
| Application Approved But Not Accepted | 23,674 | $776,684,000 | $32,000 | $1,575,000 | $99,000 | $3,303,000 |
| Application Withdrawn By Applicant | 1,443 | $238,406,000 | $165,000 | $1,355,000 | $107,000 | $1,500,000 |
| Loan Purchased By The Institution | 198 | $31,310,000 | $158,000 | $622,000 | $61,000 | $222,000 |
| File Closed For Incompleteness | 55 | $8,934,000 | $162,000 | $562,000 | $68,000 | $190,000 |
| Preapproval Approved but not Accepted | 2 | $467,000 | $233,000 | $242,000 | $76,000 | $82,000 |
| Preapproval Denied by Financial Institution | 1 | $417,000 | $417,000 | $417,000 | $218,000 | $218,000 |
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 Application Incomplete | 33,156 | $7,395,390,000 | $223,000 | $2,200,000 | $119,000 | $9,999,000 |
| Credit History | 28,224 | $1,396,784,000 | $49,000 | $29,000,000 | $79,000 | $9,999,000 |
| Unverifiable Information | 8,475 | $2,093,290,000 | $246,000 | $1,500,000 | $129,000 | $9,999,000 |
| Other | 7,106 | $742,376,000 | $104,000 | $2,530,000 | $92,000 | $9,999,000 |
| Collateral | 4,464 | $1,128,065,000 | $252,000 | $1,578,000 | $129,000 | $9,999,000 |
| Debt-To-Income Ratio | 2,640 | $572,795,000 | $216,000 | $2,029,000 | $79,000 | $576,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1,174 | $257,265,000 | $219,000 | $1,500,000 | $110,000 | $933,000 |
| Employment History | 278 | $67,373,000 | $242,000 | $920,000 | $113,000 | $562,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Ge Money Bank's 2007 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 Ge Money Bank'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 Utah, download the full spreadsheet
with aggregated HMDA statistics today.
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