Planet Home Lending, LLC Mortgage Lending & HMDA Data, 2022
In 2022, Planet Home Lending, LLC of Meriden, CT reported 86,936 mortgage applications totaling $27.7 billion, down 15% from 2021. The average application was for $318,265, and applicants reported an average income of $112,029. 11% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Riverside-San Bernardino-Ontario, CA (2,831), Atlanta-Sandy Springs-Roswell, GA (2,607) and Houston-The Woodlands-Sugar Land, TX (1,984) (applications in parentheses).
| Mortgage Company & Address | Planet Home Lending, LLC 321 Research Parkway Suite 303 Meriden, CT 06450 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 |
| Total Number of Mortgage Applications | 86,936 |
| Total Mortgage Loan Application Amount | $27,668,690,000 |
| Average Mortgage Loan Application Amount | $318,265 |
| Highest Mortgage Loan Application Amount | $2,915,000 |
| Average Applicant Income | $112,029 |
| Highest Applicant Income | $3,778,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Planet Home Lending, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Planet Home Lending, LLC in 2022
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 | 65,406 | $21,132,760,000 | $323,000 | $2,915,000 | $115,000 | $3,685,000 |
| Cash-out Refinancing | 15,365 | $4,761,915,000 | $309,000 | $2,005,000 | $101,000 | $3,778,000 |
| Refinancing | 6,142 | $1,768,440,000 | $287,000 | $2,005,000 | $108,000 | $1,154,000 |
| Home Improvement | 18 | $5,160,000 | $286,000 | $615,000 | $96,000 | $235,000 |
| Other Purpose | 5 | $415,000 | $83,000 | $205,000 | $153,000 | $224,000 |
| Not Applicable | 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 |
|---|---|---|---|---|---|---|
| Not applicable | 73,550 | $23,572,830,000 | $320,000 | $2,915,000 | $0 | $0 |
| White | 6,977 | $2,081,825,000 | $298,000 | $2,505,000 | $111,000 | $3,778,000 |
| Hispanic | 2,644 | $803,930,000 | $304,000 | $2,005,000 | $97,000 | $3,180,000 |
| Black or African American | 1,784 | $496,820,000 | $278,000 | $1,445,000 | $94,000 | $3,685,000 |
| Not Provided | 1,277 | $434,365,000 | $340,000 | $1,665,000 | $116,000 | $2,286,000 |
| Asian | 555 | $229,445,000 | $413,000 | $2,625,000 | $150,000 | $1,304,000 |
| American Indian or Alaskan Native | 90 | $28,970,000 | $321,000 | $895,000 | $108,000 | $501,000 |
| Native Hawaiian or Other Pacific Islander | 40 | $12,340,000 | $308,000 | $635,000 | $110,000 | $262,000 |
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) | 32,406 | $9,511,580,000 | $293,000 | $1,425,000 | $86,000 | $1,035,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 32,228 | $10,571,870,000 | $328,000 | $2,915,000 | $126,000 | $3,778,000 |
| VA-guaranteed (Veterans Administration) | 18,356 | $6,847,140,000 | $373,000 | $1,505,000 | $103,000 | $1,200,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3,946 | $738,100,000 | $187,000 | $635,000 | $64,000 | $143,000 |
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 | 73,550 | $23,572,830,000 | $320,000 | $2,915,000 | $0 | $0 |
| Loan Originated | 9,315 | $2,853,695,000 | $306,000 | $2,625,000 | $111,000 | $3,778,000 |
| Application Denied By Financial Institution | 3,077 | $921,615,000 | $299,000 | $1,725,000 | $99,000 | $2,918,000 |
| Application Withdrawn By Applicant | 581 | $182,055,000 | $313,000 | $1,815,000 | $118,000 | $2,286,000 |
| Preapproval Denied by Financial Institution | 187 | $70,165,000 | $375,000 | $2,325,000 | $115,000 | $1,608,000 |
| Preapproval Approved but not Accepted | 99 | $34,005,000 | $343,000 | $1,355,000 | $108,000 | $373,000 |
| File Closed For Incompleteness | 68 | $18,450,000 | $271,000 | $795,000 | $117,000 | $394,000 |
| Application Approved But Not Accepted | 59 | $15,875,000 | $269,000 | $1,045,000 | $199,000 | $3,180,000 |
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 |
|---|---|---|---|---|---|---|
| Not applicable | 83,672 | $26,676,910,000 | $318,000 | $2,915,000 | $111,000 | $3,778,000 |
| Credit Application Incomplete | 1,781 | $572,365,000 | $321,000 | $2,325,000 | $110,000 | $2,918,000 |
| Collateral | 483 | $129,175,000 | $267,000 | $1,005,000 | $94,000 | $1,154,000 |
| Debt-To-Income Ratio | 348 | $97,430,000 | $279,000 | $1,275,000 | $65,000 | $236,000 |
| Other | 341 | $104,095,000 | $305,000 | $925,000 | $98,000 | $1,608,000 |
| Credit History | 183 | $53,095,000 | $290,000 | $855,000 | $97,000 | $619,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 58 | $15,140,000 | $261,000 | $885,000 | $91,000 | $309,000 |
| Employment History | 45 | $11,605,000 | $257,000 | $595,000 | $81,000 | $216,000 |
| Unverifiable Information | 25 | $8,875,000 | $355,000 | $965,000 | $97,000 | $230,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Planet Home Lending, LLC's 2022 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 Planet Home Lending, 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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