Granite Mortgage Inc Mortgage Lending & HMDA Data, 2009
In 2009, Granite Mortgage Inc of Winston-Salem, NC reported 589 mortgage applications totaling $98.4 million, down 69% from 2008. The average application was for $167,059, and applicants reported an average income of $75,721. 79% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Winston-Salem, NC (217), Hickory-Lenoir-Morganton, NC (139) and Charlotte-Gastonia-Concord, NC-SC (61) (applications in parentheses).
| Mortgage Company & Address | Granite Mortgage Inc 791 Jonestown Road, Suite 110 Winston-Salem, NC 27103 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 589 |
| Total Mortgage Loan Application Amount | $98,398,000 |
| Average Mortgage Loan Application Amount | $167,059 |
| Highest Mortgage Loan Application Amount | $581,000 |
| Average Applicant Income | $75,721 |
| Highest Applicant Income | $888,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Granite Mortgage Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Forsyth, North Carolina | 183 | $ 26,941,000 | $ 147,218 | $ 61,000 |
| Caldwell, North Carolina | 62 | $ 9,595,000 | $ 154,758 | $ 79,000 |
| Catawba, North Carolina | 50 | $ 7,936,000 | $ 158,720 | $ 64,000 |
| Mecklenburg, North Carolina | 42 | $ 8,863,000 | $ 211,023 | $ 159,000 |
| Burke, North Carolina | 22 | $ 3,492,000 | $ 158,727 | $ 58,000 |
| Cumberland, North Carolina | 22 | $ 3,249,000 | $ 147,681 | $ 41,000 |
| Guilford, North Carolina | 22 | $ 4,224,000 | $ 192,000 | $ 87,000 |
| Davidson, North Carolina | 20 | $ 3,096,000 | $ 154,800 | $ 57,000 |
| Watauga, North Carolina | 16 | $ 4,089,000 | $ 255,562 | $ 88,000 |
| Rowan, North Carolina | 14 | $ 1,921,000 | $ 137,214 | $ 52,000 |
| Davie, North Carolina | 13 | $ 1,797,000 | $ 138,230 | $ 55,000 |
| Yadkin, North Carolina | 13 | $ 2,375,000 | $ 182,692 | $ 64,000 |
| Wilkes, North Carolina | 10 | $ 1,745,000 | $ 174,500 | $ 72,000 |
| Stokes, North Carolina | 8 | $ 1,176,000 | $ 147,000 | $ 53,000 |
| Union, North Carolina | 8 | $ 2,014,000 | $ 251,750 | $ 124,000 |
| Randolph, North Carolina | 7 | $ 903,000 | $ 129,000 | $ 57,000 |
| Hoke, North Carolina | 6 | $ 794,000 | $ 132,333 | $ 31,000 |
| Alexander, North Carolina | 5 | $ 1,029,000 | $ 205,800 | $ 77,000 |
| Gaston, North Carolina | 5 | $ 1,177,000 | $ 235,400 | $ 80,000 |
| Iredell, North Carolina | 5 | $ 818,000 | $ 163,600 | $ 72,000 |
| Lincoln, North Carolina | 4 | $ 1,236,000 | $ 309,000 | $ 87,000 |
| Cabarrus, North Carolina | 3 | $ 466,000 | $ 155,333 | $ 54,000 |
| Surry, North Carolina | 3 | $ 397,000 | $ 132,333 | $ 54,000 |
| Wake, North Carolina | 3 | $ 758,000 | $ 252,666 | $ 334,000 |
| York, South Carolina | 3 | $ 515,000 | $ 171,666 | $ 93,000 |
| Ashe, North Carolina | 2 | $ 709,000 | $ 354,500 | $ 325,000 |
| Brunswick, North Carolina | 2 | $ 687,000 | $ 343,500 | $ 118,000 |
| Harnett, North Carolina | 2 | $ 350,000 | $ 175,000 | $ 81,000 |
| Pitt, North Carolina | 2 | $ 399,000 | $ 199,500 | $ 0 |
| Horry, South Carolina | 2 | $ 692,000 | $ 346,000 | $ 212,000 |
| Blount, Tennessee | 2 | $ 707,000 | $ 353,500 | $ 256,000 |
| Bay, Florida | 1 | $ 360,000 | $ 360,000 | $ 65,000 |
| Hillsborough, Florida | 1 | $ 326,000 | $ 326,000 | $ 100,000 |
| Avery, North Carolina | 1 | $ 135,000 | $ 135,000 | $ 40,000 |
| Caswell, North Carolina | 1 | $ 203,000 | $ 203,000 | $ 83,000 |
| Johnston, North Carolina | 1 | $ 123,000 | $ 123,000 | $ 49,000 |
| McDowell, North Carolina | 1 | $ 264,000 | $ 264,000 | $ 90,000 |
| Moore, North Carolina | 1 | $ 178,000 | $ 178,000 | $ 66,000 |
| Nash, North Carolina | 1 | $ 79,000 | $ 79,000 | $ 46,000 |
| Rockingham, North Carolina | 1 | $ 148,000 | $ 148,000 | $ 59,000 |
| Sampson, North Carolina | 1 | $ 168,000 | $ 168,000 | $ 65,000 |
| Fairfield, South Carolina | 1 | $ 248,000 | $ 248,000 | $ 203,000 |
| Hamilton, Tennessee | 1 | $ 118,000 | $ 118,000 | $ 85,000 |
| Sullivan, Tennessee | 1 | $ 231,000 | $ 231,000 | $ 80,000 |
| Franklin, Virginia | 1 | $ 300,000 | $ 300,000 | $ 365,000 |
Mortgage Loan Application Detail Totals for Granite Mortgage Inc in 2009
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 | 352 | $65,732,000 | $186,000 | $581,000 | $89,000 | $888,000 |
| Home Purchase | 237 | $32,666,000 | $137,000 | $417,000 | $56,000 | $572,000 |
| 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 | 473 | $83,816,000 | $177,000 | $581,000 | $83,000 | $888,000 |
| Black or African American | 88 | $10,250,000 | $116,000 | $252,000 | $39,000 | $135,000 |
| Hispanic | 18 | $2,568,000 | $142,000 | $337,000 | $65,000 | $177,000 |
| Asian | 9 | $1,610,000 | $178,000 | $268,000 | $55,000 | $90,000 |
| American Indian or Alaskan Native | 1 | $154,000 | $154,000 | $154,000 | $28,000 | $28,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 287 | $57,177,000 | $199,000 | $581,000 | $102,000 | $888,000 |
| FHA-insured (Federal Housing Administration) | 212 | $29,053,000 | $137,000 | $412,000 | $55,000 | $346,000 |
| VA-guaranteed (Veterans Administration) | 49 | $7,652,000 | $156,000 | $345,000 | $43,000 | $156,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 41 | $4,516,000 | $110,000 | $260,000 | $37,000 | $68,000 |
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 | 467 | $81,586,000 | $174,000 | $417,000 | $81,000 | $888,000 |
| Application Withdrawn By Applicant | 96 | $13,397,000 | $139,000 | $581,000 | $59,000 | $579,000 |
| Application Denied By Financial Institution | 26 | $3,415,000 | $131,000 | $417,000 | $44,000 | $180,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 8 | $832,000 | $104,000 | $260,000 | $36,000 | $48,000 |
| Collateral | 4 | $475,000 | $118,000 | $151,000 | $50,000 | $104,000 |
| Other | 4 | $662,000 | $165,000 | $352,000 | $68,000 | $180,000 |
| Debt-To-Income Ratio | 3 | $332,000 | $110,000 | $126,000 | $20,000 | $25,000 |
| Employment History | 2 | $233,000 | $116,000 | $139,000 | $37,000 | $48,000 |
| Unverifiable Information | 2 | $558,000 | $279,000 | $417,000 | $61,000 | $63,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $76,000 | $76,000 | $76,000 | $20,000 | $20,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Granite Mortgage Inc's 2009 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 Granite Mortgage Inc'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 North Carolina, download the full spreadsheet
with aggregated HMDA statistics today.
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