L&G Mortgagebanc, Inc Mortgage Lending & HMDA Data, 2009
In 2009, L&G Mortgagebanc, Inc of Scottsdale, AZ reported 2,555 mortgage applications totaling $468.7 million, up 19% from 2008. The average application was for $183,446, and applicants reported an average income of $70,724. 58% of its applications resulted in an originated loan and 25% were denied. Its largest markets were Albuquerque, NM (742), Phoenix-Mesa-Scottsdale, AZ (464) and Tucson, AZ (162) (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 | 2,555 |
| Total Mortgage Loan Application Amount | $468,705,000 |
| Average Mortgage Loan Application Amount | $183,446 |
| Highest Mortgage Loan Application Amount | $2,450,000 |
| Average Applicant Income | $70,724 |
| Highest Applicant Income | $1,327,000 |
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(HMDA) records L&G Mortgagebanc, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2009
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 | 1,360 | $284,428,000 | $209,000 | $2,450,000 | $75,000 | $1,160,000 |
| Home Purchase | 1,181 | $182,331,000 | $154,000 | $945,000 | $66,000 | $1,327,000 |
| Home Improvement | 14 | $1,946,000 | $139,000 | $273,000 | $54,000 | $109,000 |
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 | 970 | $184,263,000 | $189,000 | $1,530,000 | $77,000 | $1,327,000 |
| Hispanic | 713 | $109,513,000 | $153,000 | $658,000 | $51,000 | $1,287,000 |
| Not Provided | 620 | $123,103,000 | $198,000 | $2,450,000 | $80,000 | $1,160,000 |
| Black or African American | 143 | $28,605,000 | $200,000 | $1,042,000 | $80,000 | $981,000 |
| Native Hawaiian or Other Pacific Islander | 80 | $17,833,000 | $222,000 | $623,000 | $89,000 | $468,000 |
| Asian | 24 | $4,689,000 | $195,000 | $611,000 | $73,000 | $142,000 |
| American Indian or Alaskan Native | 5 | $699,000 | $139,000 | $181,000 | $34,000 | $72,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 1,378 | $225,457,000 | $163,000 | $658,000 | $52,000 | $524,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,127 | $236,167,000 | $209,000 | $2,450,000 | $95,000 | $1,327,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 37 | $4,417,000 | $119,000 | $209,000 | $41,000 | $75,000 |
| VA-guaranteed (Veterans Administration) | 13 | $2,664,000 | $204,000 | $611,000 | $26,000 | $105,000 |
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 | 1,483 | $259,751,000 | $175,000 | $658,000 | $68,000 | $1,287,000 |
| Application Denied By Financial Institution | 636 | $121,512,000 | $191,000 | $1,530,000 | $70,000 | $981,000 |
| Application Approved But Not Accepted | 250 | $48,011,000 | $192,000 | $945,000 | $75,000 | $649,000 |
| Application Withdrawn By Applicant | 186 | $39,431,000 | $211,000 | $2,450,000 | $92,000 | $1,327,000 |
| 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 | 156 | $30,504,000 | $195,000 | $1,042,000 | $81,000 | $981,000 |
| Credit History | 148 | $23,490,000 | $158,000 | $611,000 | $55,000 | $370,000 |
| Collateral | 119 | $26,864,000 | $225,000 | $850,000 | $78,000 | $536,000 |
| Debt-To-Income Ratio | 87 | $17,594,000 | $202,000 | $743,000 | $70,000 | $480,000 |
| Employment History | 19 | $4,124,000 | $217,000 | $1,530,000 | $65,000 | $420,000 |
| Credit Application Incomplete | 12 | $1,529,000 | $127,000 | $300,000 | $45,000 | $146,000 |
| Unverifiable Information | 12 | $2,333,000 | $194,000 | $338,000 | $76,000 | $228,000 |
| 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 L&G Mortgagebanc, Inc's 2009 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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