Heritage Lending & Investment Mortgage Lending & HMDA Data, 2006
In 2006, Heritage Lending & Investment of Marietta, GA reported 268 mortgage applications totaling $31.1 million, up 35% from 2005. The average application was for $116,093, and applicants reported an average income of $54,220. 87% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (104), Auburn-Opelika, AL (15) and Birmingham-Hoover, AL (11) (applications in parentheses).
| Mortgage Company & Address | Heritage Lending & Investment 2870 Johnson Ferry Road Marietta, GA 30062 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 |
| Total Number of Mortgage Applications | 268 |
| Total Mortgage Loan Application Amount | $31,113,000 |
| Average Mortgage Loan Application Amount | $116,093 |
| Highest Mortgage Loan Application Amount | $648,000 |
| Average Applicant Income | $54,220 |
| Highest Applicant Income | $279,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Heritage Lending & Investment filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Heritage Lending & Investment in 2006
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 | 209 | $22,019,000 | $105,000 | $648,000 | $54,000 | $279,000 |
| Refinancing | 59 | $9,094,000 | $154,000 | $455,000 | $55,000 | $259,000 |
| 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 | 190 | $22,497,000 | $118,000 | $455,000 | $51,000 | $279,000 |
| Black or African American | 57 | $5,843,000 | $102,000 | $648,000 | $61,000 | $225,000 |
| Hispanic | 10 | $1,652,000 | $165,000 | $363,000 | $81,000 | $252,000 |
| Not Provided | 10 | $821,000 | $82,000 | $172,000 | $44,000 | $145,000 |
| American Indian or Alaskan Native | 1 | $300,000 | $300,000 | $300,000 | $78,000 | $78,000 |
| Asian | 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 140 | $14,205,000 | $101,000 | $257,000 | $43,000 | $124,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 126 | $16,819,000 | $133,000 | $648,000 | $66,000 | $279,000 |
| VA-guaranteed (Veterans Administration) | 2 | $89,000 | $44,000 | $68,000 | $9,000 | $18,000 |
| 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 | 232 | $26,948,000 | $116,000 | $455,000 | $51,000 | $279,000 |
| Application Withdrawn By Applicant | 33 | $3,894,000 | $118,000 | $648,000 | $74,000 | $225,000 |
| Application Denied By Financial Institution | 3 | $271,000 | $90,000 | $126,000 | $35,000 | $64,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Heritage Lending & Investment's 2006 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 Heritage Lending & Investment'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 Georgia, download the full spreadsheet
with aggregated HMDA statistics today.
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