Harwood-Russell Mortgage, Inc. Mortgage Lending & HMDA Data, 2004
In 2004, Harwood-Russell Mortgage, Inc. of Charlotte, NC reported 529 mortgage applications totaling $78.4 million, down 43% from 2003. The average application was for $148,132, and applicants reported an average income of $50,145. 94% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Charlotte-Gastonia-Concord, NC-SC (482), Myrtle Beach-Conway-North Myrtle Beach, SC (2) and Raleigh-Cary, NC (2) (applications in parentheses).
| Mortgage Company & Address | Harwood-Russell Mortgage, Inc. 501 S. Sharon Amity Rd., Ste. 400 Charlotte, NC 28211 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 529 |
| Total Mortgage Loan Application Amount | $78,362,000 |
| Average Mortgage Loan Application Amount | $148,132 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $50,145 |
| Highest Applicant Income | $696,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Harwood-Russell Mortgage, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Mecklenburg, North Carolina | 261 | $ 43,308,000 | $ 165,931 | $ 55,000 |
| Gaston, North Carolina | 137 | $ 15,656,000 | $ 114,277 | $ 44,000 |
| Cabarrus, North Carolina | 57 | $ 7,900,000 | $ 138,596 | $ 38,000 |
| Union, North Carolina | 26 | $ 4,142,000 | $ 159,307 | $ 60,000 |
| Iredell, North Carolina | 11 | $ 1,698,000 | $ 154,363 | $ 43,000 |
| York, South Carolina | 8 | $ 1,237,000 | $ 154,625 | $ 72,000 |
| Cleveland, North Carolina | 6 | $ 565,000 | $ 94,166 | $ 49,000 |
| Lincoln, North Carolina | 5 | $ 1,166,000 | $ 233,200 | $ 76,000 |
| Rowan, North Carolina | 3 | $ 336,000 | $ 112,000 | $ 50,000 |
| Wake, North Carolina | 2 | $ 209,000 | $ 104,500 | $ 22,000 |
| Horry, South Carolina | 2 | $ 271,000 | $ 135,500 | $ 87,000 |
| Anson, North Carolina | 1 | $ 51,000 | $ 51,000 | $ 40,000 |
| Catawba, North Carolina | 1 | $ 367,000 | $ 367,000 | $ 79,000 |
| Durham, North Carolina | 1 | $ 47,000 | $ 47,000 | $ 77,000 |
| Forsyth, North Carolina | 1 | $ 183,000 | $ 183,000 | $ 60,000 |
| Lenoir, North Carolina | 1 | $ 29,000 | $ 29,000 | $ 0 |
| New Hanover, North Carolina | 1 | $ 276,000 | $ 276,000 | $ 107,000 |
| Richmond, North Carolina | 1 | $ 87,000 | $ 87,000 | $ 72,000 |
| Charleston, South Carolina | 1 | $ 386,000 | $ 386,000 | $ 116,000 |
| Chester, South Carolina | 1 | $ 124,000 | $ 124,000 | $ 73,000 |
| Greenville, South Carolina | 1 | $ 114,000 | $ 114,000 | $ 60,000 |
| Richland, South Carolina | 1 | $ 210,000 | $ 210,000 | $ 85,000 |
Mortgage Loan Application Detail Totals for Harwood-Russell Mortgage, Inc. in 2004
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 | 443 | $63,537,000 | $157,500 | $1,000,000 | $66,500 | $696,000 |
| Refinancing | 86 | $14,825,000 | $161,500 | $670,000 | $60,000 | $450,000 |
| 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 | 454 | $69,432,000 | $162,000 | $1,000,000 | $68,000 | $696,000 |
| Black or African American | 53 | $5,953,000 | $112,000 | $262,000 | $39,000 | $105,000 |
| Hispanic | 13 | $1,950,000 | $150,000 | $334,000 | $51,000 | $220,000 |
| Not Provided | 7 | $788,000 | $104,500 | $163,000 | $47,500 | $107,000 |
| Asian | 2 | $239,000 | $119,000 | $136,000 | $52,000 | $56,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 403 | $64,274,000 | $164,500 | $1,000,000 | $69,500 | $696,000 |
| FHA-insured (Federal Housing Administration) | 100 | $10,925,000 | $115,000 | $171,000 | $45,000 | $162,000 |
| VA-guaranteed (Veterans Administration) | 26 | $3,163,000 | $121,000 | $261,000 | $51,000 | $105,000 |
| 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 Originated | 496 | $74,536,000 | $158,000 | $1,000,000 | $66,500 | $696,000 |
| Application Withdrawn By Applicant | 24 | $2,825,000 | $117,000 | $420,000 | $35,000 | $140,000 |
| Application Denied By Financial Institution | 8 | $889,000 | $111,000 | $168,000 | $31,000 | $62,000 |
| File Closed For Incompleteness | 1 | $112,000 | $112,000 | $112,000 | $25,000 | $25,000 |
| Application Approved But Not Accepted | 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 | 5 | $566,000 | $113,000 | $137,000 | $41,000 | $62,000 |
| Debt-To-Income Ratio | 1 | $60,000 | $60,000 | $60,000 | $17,000 | $17,000 |
| Other | 1 | $95,000 | $95,000 | $95,000 | $31,000 | $31,000 |
| Unverifiable Information | 1 | $168,000 | $168,000 | $168,000 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Harwood-Russell Mortgage, Inc.'s 2004 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 Harwood-Russell 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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