L&G Mortgagebanc, Inc Mortgage Lending & HMDA Data, 2008
In 2008, L&G Mortgagebanc, Inc of Scottsdale, AZ reported 2,149 mortgage applications totaling $432.0 million. The average application was for $201,010, and applicants reported an average income of $72,231. 33% of its applications resulted in an originated loan and 28% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (1,195), Albuquerque, NM (145) and Tucson, AZ (53) (applications in parentheses).
| Mortgage Company & Address | L&G Mortgagebanc, Inc 8737 East Via De Commercio Scottsdale, AZ 85258 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 |
| Total Number of Mortgage Applications | 2,149 |
| Total Mortgage Loan Application Amount | $431,971,000 |
| Average Mortgage Loan Application Amount | $201,010 |
| Highest Mortgage Loan Application Amount | $6,000,000 |
| Average Applicant Income | $72,231 |
| Highest Applicant Income | $1,320,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records L&G Mortgagebanc, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for L&G Mortgagebanc, Inc in 2008
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 | 1,321 | $251,740,000 | $190,000 | $1,700,000 | $71,000 | $1,000,000 |
| Refinancing | 801 | $174,683,000 | $218,000 | $6,000,000 | $74,000 | $1,320,000 |
| Home Improvement | 27 | $5,548,000 | $205,000 | $940,000 | $80,000 | $396,000 |
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 |
|---|---|---|---|---|---|---|
| Not Provided | 800 | $169,753,000 | $212,000 | $6,000,000 | $75,000 | $1,320,000 |
| White | 656 | $135,622,000 | $206,000 | $1,000,000 | $81,000 | $996,000 |
| Hispanic | 495 | $85,925,000 | $173,000 | $972,000 | $54,000 | $360,000 |
| Black or African American | 137 | $28,927,000 | $211,000 | $720,000 | $83,000 | $810,000 |
| Native Hawaiian or Other Pacific Islander | 33 | $6,854,000 | $207,000 | $417,000 | $87,000 | $480,000 |
| Asian | 18 | $3,426,000 | $190,000 | $344,000 | $57,000 | $179,000 |
| American Indian or Alaskan Native | 10 | $1,464,000 | $146,000 | $218,000 | $43,000 | $84,000 |
| 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) | 1,693 | $358,812,000 | $211,000 | $6,000,000 | $77,000 | $1,320,000 |
| FHA-insured (Federal Housing Administration) | 453 | $72,836,000 | $160,000 | $720,000 | $55,000 | $810,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $323,000 | $107,000 | $143,000 | $38,000 | $45,000 |
| 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 | 717 | $136,828,000 | $190,000 | $1,000,000 | $73,000 | $468,000 |
| Application Denied By Financial Institution | 607 | $112,839,000 | $185,000 | $747,000 | $58,000 | $806,000 |
| Application Withdrawn By Applicant | 445 | $104,016,000 | $233,000 | $6,000,000 | $87,000 | $1,320,000 |
| Application Approved But Not Accepted | 380 | $78,288,000 | $206,000 | $972,000 | $77,000 | $996,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 212 | $40,144,000 | $189,000 | $670,000 | $66,000 | $806,000 |
| Collateral | 128 | $26,584,000 | $207,000 | $630,000 | $64,000 | $270,000 |
| Credit History | 100 | $14,891,000 | $148,000 | $305,000 | $44,000 | $180,000 |
| Credit Application Incomplete | 78 | $14,164,000 | $181,000 | $515,000 | $54,000 | $210,000 |
| Debt-To-Income Ratio | 62 | $12,359,000 | $199,000 | $747,000 | $45,000 | $269,000 |
| Unverifiable Information | 16 | $2,744,000 | $171,000 | $312,000 | $68,000 | $300,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 6 | $1,324,000 | $220,000 | $263,000 | $48,000 | $72,000 |
| Mortgage Insurance Denied | 3 | $430,000 | $143,000 | $190,000 | $55,000 | $84,000 |
| Employment History | 2 | $199,000 | $99,000 | $109,000 | $21,000 | $42,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into L&G Mortgagebanc, Inc's 2008 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 L&G Mortgagebanc, 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.
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