Heritage Oaks Bank Mortgage Lending & HMDA Data, 2006
In 2006, Heritage Oaks Bank of Arroyo Grande, CA reported 282 mortgage applications totaling $92.3 million, down 36% from 2005. The average application was for $327,464, and applicants reported an average income of $114,808. 57% of its applications resulted in an originated loan and 14% were denied. Its largest markets were San Luis Obispo-Paso Robles, CA (152), Santa Barbara-Santa Maria, CA (91) and Salinas, CA (6) (applications in parentheses).
| Mortgage Company & Address | Heritage Oaks Bank 1530 East Grand Avenue Arroyo Grande, CA 93420 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 282 |
| Total Mortgage Loan Application Amount | $92,345,000 |
| Average Mortgage Loan Application Amount | $327,464 |
| Highest Mortgage Loan Application Amount | $5,120,000 |
| Average Applicant Income | $114,808 |
| Highest Applicant Income | $3,000,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Heritage Oaks Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Oaks Bank 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 |
|---|---|---|---|---|---|---|
| Refinancing | 186 | $68,905,000 | $370,000 | $5,120,000 | $128,000 | $3,000,000 |
| Home Purchase | 76 | $18,906,000 | $248,000 | $1,450,000 | $98,000 | $372,000 |
| Home Improvement | 20 | $4,534,000 | $226,000 | $650,000 | $56,000 | $187,000 |
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 | 135 | $39,437,000 | $292,000 | $1,400,000 | $154,000 | $3,000,000 |
| Hispanic | 88 | $24,379,000 | $277,000 | $2,700,000 | $65,000 | $576,000 |
| Not Provided | 42 | $18,274,000 | $435,000 | $1,450,000 | $119,000 | $300,000 |
| Not applicable | 7 | $7,433,000 | $1,061,000 | $5,120,000 | $0 | $0 |
| Asian | 7 | $1,343,000 | $191,000 | $368,000 | $82,000 | $108,000 |
| Black or African American | 1 | $380,000 | $380,000 | $380,000 | $169,000 | $169,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $469,000 | $469,000 | $469,000 | $60,000 | $60,000 |
| American Indian or Alaskan Native | 1 | $630,000 | $630,000 | $630,000 | $156,000 | $156,000 |
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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 282 | $92,345,000 | $327,000 | $5,120,000 | $115,000 | $3,000,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 160 | $51,773,000 | $323,000 | $5,120,000 | $124,000 | $2,186,000 |
| Application Approved But Not Accepted | 53 | $15,440,000 | $291,000 | $1,237,000 | $151,000 | $3,000,000 |
| Application Denied By Financial Institution | 39 | $13,014,000 | $333,000 | $1,450,000 | $66,000 | $448,000 |
| File Closed For Incompleteness | 16 | $5,149,000 | $321,000 | $1,000,000 | $88,000 | $224,000 |
| Application Withdrawn By Applicant | 14 | $6,969,000 | $497,000 | $2,700,000 | $45,000 | $109,000 |
| 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 | 16 | $5,777,000 | $361,000 | $1,400,000 | $79,000 | $448,000 |
| Debt-To-Income Ratio | 10 | $3,361,000 | $336,000 | $1,450,000 | $69,000 | $245,000 |
| Collateral | 8 | $3,056,000 | $382,000 | $765,000 | $66,000 | $180,000 |
| Unverifiable Information | 2 | $340,000 | $170,000 | $240,000 | $40,000 | $60,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Heritage Oaks Bank'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 Oaks Bank'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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with aggregated HMDA statistics today.
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