Heritage Lending & Investment Mortgage Lending & HMDA Data, 2004
In 2004, Heritage Lending & Investment of Marietta, GA reported 59 mortgage applications totaling $7.7 million. The average application was for $130,254, and applicants reported an average income of $52,762. 58% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (47), Rome, GA (2) and Charleston-North Charleston, SC (1) (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 | 59 |
| Total Mortgage Loan Application Amount | $7,685,000 |
| Average Mortgage Loan Application Amount | $130,254 |
| Highest Mortgage Loan Application Amount | $372,000 |
| Average Applicant Income | $52,762 |
| Highest Applicant Income | $396,000 |
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records Heritage Lending & Investment filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 | 40 | $5,191,000 | $105,000 | $372,000 | $42,000 | $396,000 |
| Refinancing | 19 | $2,494,000 | $104,333 | $272,000 | $32,333 | $103,000 |
| 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 | 34 | $4,337,000 | $106,666 | $319,000 | $41,333 | $396,000 |
| Black or African American | 13 | $1,979,000 | $152,000 | $228,000 | $37,000 | $80,000 |
| Not Provided | 9 | $1,079,000 | $119,000 | $372,000 | $54,000 | $120,000 |
| Hispanic | 3 | $290,000 | $96,000 | $130,000 | $42,000 | $44,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 44 | $5,860,000 | $104,000 | $372,000 | $41,666 | $396,000 |
| FHA-insured (Federal Housing Administration) | 15 | $1,825,000 | $101,500 | $161,000 | $26,500 | $67,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 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 | 34 | $4,455,000 | $126,500 | $319,000 | $53,500 | $396,000 |
| Application Withdrawn By Applicant | 15 | $2,130,000 | $110,000 | $372,000 | $33,500 | $120,000 |
| Application Denied By Financial Institution | 5 | $396,000 | $79,000 | $128,000 | $33,000 | $41,000 |
| File Closed For Incompleteness | 4 | $574,000 | $143,000 | $187,000 | $38,000 | $80,000 |
| Application Approved But Not Accepted | 1 | $130,000 | $130,000 | $130,000 | $51,000 | $51,000 |
| 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 | 3 | $266,000 | $88,000 | $128,000 | $31,000 | $41,000 |
| Other | 2 | $130,000 | $65,000 | $104,000 | $38,000 | $38,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Heritage Lending & Investment'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 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.
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