Gmac Mortgage, LLC Mortgage Lending & HMDA Data, 2013
In 2013, Gmac Mortgage, LLC of Ft. Washington, PA reported 742 mortgage applications totaling $126.1 million, down 99% from 2012. The average application was for $169,920, and applicants reported an average income of $22,640. 1% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Las Vegas-Paradise, NV (36), Columbus, OH (35) and Cleveland-Elyria-Mentor, OH (29) (applications in parentheses).
| Mortgage Company & Address | Gmac Mortgage, LLC 1100 Virginia Drive Ft. Washington, PA 19034 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2013 2012 2011 |
| Total Number of Mortgage Applications | 742 |
| Total Mortgage Loan Application Amount | $126,081,000 |
| Average Mortgage Loan Application Amount | $169,920 |
| Highest Mortgage Loan Application Amount | $646,000 |
| Average Applicant Income | $22,640 |
| Highest Applicant Income | $500,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Gmac Mortgage, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Gmac Mortgage, LLC in 2013
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 | 455 | $79,089,000 | $173,000 | $646,000 | $33,000 | $500,000 |
| Home Purchase | 286 | $46,916,000 | $164,000 | $616,000 | $6,000 | $136,000 |
| Home Improvement | 1 | $76,000 | $76,000 | $76,000 | $68,000 | $68,000 |
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 | 528 | $94,791,000 | $179,000 | $646,000 | $0 | $0 |
| White | 174 | $25,376,000 | $145,000 | $471,000 | $79,000 | $500,000 |
| Hispanic | 13 | $1,530,000 | $117,000 | $258,000 | $40,000 | $89,000 |
| Black or African American | 10 | $1,338,000 | $133,000 | $242,000 | $77,000 | $180,000 |
| Not Provided | 10 | $1,597,000 | $159,000 | $438,000 | $91,000 | $217,000 |
| Asian | 6 | $1,289,000 | $214,000 | $263,000 | $146,000 | $396,000 |
| American Indian or Alaskan Native | 1 | $160,000 | $160,000 | $160,000 | $16,000 | $16,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 483 | $84,987,000 | $175,000 | $646,000 | $1,000 | $136,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 203 | $30,306,000 | $149,000 | $471,000 | $79,000 | $500,000 |
| VA-guaranteed (Veterans Administration) | 56 | $10,788,000 | $192,000 | $413,000 | $4,000 | $63,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 Purchased By The Institution | 528 | $94,791,000 | $179,000 | $646,000 | $0 | $0 |
| Application Denied By Financial Institution | 97 | $13,600,000 | $140,000 | $471,000 | $75,000 | $275,000 |
| File Closed For Incompleteness | 62 | $10,106,000 | $163,000 | $417,000 | $82,000 | $500,000 |
| Application Withdrawn By Applicant | 24 | $3,368,000 | $140,000 | $263,000 | $94,000 | $217,000 |
| Application Approved But Not Accepted | 22 | $3,226,000 | $146,000 | $229,000 | $79,000 | $396,000 |
| Loan Originated | 9 | $990,000 | $110,000 | $233,000 | $56,000 | $89,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 27 | $3,918,000 | $145,000 | $287,000 | $85,000 | $208,000 |
| Unverifiable Information | 21 | $2,412,000 | $114,000 | $238,000 | $85,000 | $275,000 |
| Credit History | 20 | $3,008,000 | $150,000 | $471,000 | $65,000 | $235,000 |
| Debt-To-Income Ratio | 18 | $2,865,000 | $159,000 | $438,000 | $44,000 | $85,000 |
| Collateral | 7 | $654,000 | $93,000 | $226,000 | $109,000 | $238,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $645,000 | $215,000 | $296,000 | $92,000 | $158,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Gmac Mortgage, LLC's 2013 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 Gmac Mortgage, LLC'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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