Lend Smart Mortgage, LLC Mortgage Lending & HMDA Data, 2016
In 2016, Lend Smart Mortgage, LLC of Oakdale, MN reported 3,750 mortgage applications totaling $739.1 million, up 30% from 2015. The average application was for $197,096, and applicants reported an average income of $78,463. 57% of its applications resulted in an originated loan and 22% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (1,161), Phoenix-Mesa-Scottsdale, AZ (643) and Rapid City, SD (481) (applications in parentheses).
| Mortgage Company & Address | Lend Smart Mortgage, LLC 3450 Lexington Ave N Oakdale, MN 55126 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 |
| Total Number of Mortgage Applications | 3,750 |
| Total Mortgage Loan Application Amount | $739,113,000 |
| Average Mortgage Loan Application Amount | $197,096 |
| Highest Mortgage Loan Application Amount | $1,316,000 |
| Average Applicant Income | $78,463 |
| Highest Applicant Income | $2,000,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Lend Smart Mortgage, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Lend Smart Mortgage, LLC 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 Purchase | 2,585 | $498,351,000 | $192,000 | $1,140,000 | $76,000 | $2,000,000 |
| Refinancing | 763 | $160,280,000 | $210,000 | $1,316,000 | $86,000 | $1,144,000 |
| Home Improvement | 402 | $80,482,000 | $200,000 | $777,000 | $80,000 | $422,000 |
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 | 2,626 | $523,358,000 | $199,000 | $1,140,000 | $82,000 | $2,000,000 |
| Hispanic | 467 | $84,514,000 | $180,000 | $540,000 | $61,000 | $372,000 |
| Not Provided | 310 | $62,568,000 | $201,000 | $1,316,000 | $78,000 | $1,144,000 |
| Asian | 151 | $30,474,000 | $201,000 | $591,000 | $81,000 | $977,000 |
| Black or African American | 140 | $28,021,000 | $200,000 | $480,000 | $65,000 | $840,000 |
| American Indian or Alaskan Native | 32 | $5,927,000 | $185,000 | $464,000 | $77,000 | $240,000 |
| Native Hawaiin or Other Pacific Islander | 21 | $3,781,000 | $180,000 | $309,000 | $82,000 | $279,000 |
| Not applicable | 3 | $470,000 | $156,000 | $257,000 | $47,000 | $56,000 |
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) | 1,767 | $371,687,000 | $210,000 | $1,316,000 | $97,000 | $2,000,000 |
| FHA-insured (Federal Housing Administration) | 1,320 | $241,889,000 | $183,000 | $614,000 | $62,000 | $960,000 |
| VA-guaranteed (Veterans Administration) | 372 | $84,486,000 | $227,000 | $503,000 | $72,000 | $423,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 291 | $41,051,000 | $141,000 | $325,000 | $49,000 | $101,000 |
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 | 2,152 | $428,335,000 | $199,000 | $614,000 | $79,000 | $1,569,000 |
| Application Denied By Financial Institution | 837 | $158,119,000 | $188,000 | $1,316,000 | $72,000 | $2,000,000 |
| Application Withdrawn By Applicant | 567 | $112,661,000 | $198,000 | $1,140,000 | $81,000 | $840,000 |
| File Closed For Incompleteness | 169 | $35,129,000 | $207,000 | $777,000 | $97,000 | $2,000,000 |
| Application Approved But Not Accepted | 16 | $3,227,000 | $201,000 | $410,000 | $82,000 | $215,000 |
| Preapproval Denied by Financial Institution | 5 | $1,019,000 | $203,000 | $296,000 | $53,000 | $99,000 |
| Preapproval Approved but not Accepted | 4 | $623,000 | $155,000 | $190,000 | $56,000 | $80,000 |
| Loan Purchased By The 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 | 328 | $66,565,000 | $202,000 | $1,316,000 | $84,000 | $2,000,000 |
| Credit History | 139 | $22,655,000 | $162,000 | $360,000 | $60,000 | $960,000 |
| Debt-To-Income Ratio | 59 | $11,106,000 | $188,000 | $433,000 | $58,000 | $612,000 |
| Collateral | 36 | $5,623,000 | $156,000 | $370,000 | $67,000 | $154,000 |
| Credit Application Incomplete | 28 | $5,881,000 | $210,000 | $500,000 | $75,000 | $267,000 |
| Employment History | 11 | $1,570,000 | $142,000 | $278,000 | $52,000 | $162,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 11 | $1,926,000 | $175,000 | $297,000 | $72,000 | $268,000 |
| Unverifiable Information | 4 | $649,000 | $162,000 | $250,000 | $75,000 | $118,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Lend Smart Mortgage, LLC'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 Lend Smart Mortgage, LLC'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.
For a list of all lenders in Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.
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