La Joya Area FCU Mortgage Lending & HMDA Data, 2016
In 2016, La Joya Area FCU of La Joya, TX reported 293 mortgage applications totaling $2.4 million, up 80% from 2015. The average application was for $8,313, and applicants reported an average income of $46,327. 51% of its applications resulted in an originated loan and 42% were denied. Its largest markets were McAllen-Edinburg-Mission, TX (279) and Brownsville-Harlingen, TX (1).
| Mortgage Company & Address | La Joya Area FCU P.O. Box 1300 La Joya, TX 78560 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2011 2010 2009 2008 |
| Total Number of Mortgage Applications | 293 |
| Total Mortgage Loan Application Amount | $2,436,000 |
| Average Mortgage Loan Application Amount | $8,313 |
| Highest Mortgage Loan Application Amount | $130,000 |
| Average Applicant Income | $46,327 |
| Highest Applicant Income | $1,620,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records La Joya Area FCU filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 La Joya Area FCU in 2016
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 Improvement | 285 | $1,966,000 | $6,000 | $124,000 | $46,000 | $1,620,000 |
| Home Purchase | 6 | $388,000 | $64,000 | $130,000 | $67,000 | $106,000 |
| Refinancing | 2 | $82,000 | $41,000 | $41,000 | $31,000 | $31,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 292 | $2,426,000 | $8,000 | $130,000 | $47,000 | $1,620,000 |
| Asian | 1 | $10,000 | $10,000 | $10,000 | $71,000 | $71,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiin or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| White | 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) | 293 | $2,436,000 | $8,000 | $130,000 | $47,000 | $1,620,000 |
| 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 | 148 | $1,301,000 | $8,000 | $124,000 | $56,000 | $1,620,000 |
| Application Denied By Financial Institution | 124 | $810,000 | $6,000 | $41,000 | $35,000 | $162,000 |
| Application Withdrawn By Applicant | 19 | $302,000 | $15,000 | $130,000 | $47,000 | $130,000 |
| Application Approved But Not Accepted | 2 | $23,000 | $11,000 | $13,000 | $35,000 | $49,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 64 | $362,000 | $5,000 | $15,000 | $40,000 | $154,000 |
| Debt-To-Income Ratio | 54 | $409,000 | $7,000 | $41,000 | $29,000 | $162,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $18,000 | $9,000 | $15,000 | $25,000 | $32,000 |
| Other | 1 | $5,000 | $5,000 | $5,000 | $105,000 | $105,000 |
| Unverifiable Information | 1 | $7,000 | $7,000 | $7,000 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into La Joya Area FCU's 2016 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 La Joya Area FCU'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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