Lendsource Inc Mortgage Lending & HMDA Data, 2005
In 2005, Lendsource Inc of Minnetonka, MN reported 2,666 mortgage applications totaling $378.9 million, down 6% from 2004. The average application was for $142,123, and applicants reported an average income of $62,776. 33% of its applications resulted in an originated loan and 34% were denied. Its largest markets were Detroit-Livonia-Dearborn, MI (371), Minneapolis-St. Paul-Bloomington, MN-WI (361) and Warren-Farmington Hills-Troy, MI (273) (applications in parentheses).
| Mortgage Company & Address | Lendsource Inc 12701 Whitewater Dr Ste 340 Minnetonka, MN 55343 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 2,666 |
| Total Mortgage Loan Application Amount | $378,901,000 |
| Average Mortgage Loan Application Amount | $142,123 |
| Highest Mortgage Loan Application Amount | $788,000 |
| Average Applicant Income | $62,776 |
| Highest Applicant Income | $931,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Lendsource Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Detroit-Livonia-Dearborn, MI | 371 | $ 34,562,000 | $ 93,159 | $ 50,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 361 | $ 72,877,000 | $ 201,875 | $ 74,000 |
| Warren-Farmington Hills-Troy, MI | 273 | $ 43,206,000 | $ 158,263 | $ 76,000 |
| Tampa-St. Petersburg-Clearwater, FL | 214 | $ 29,491,000 | $ 137,808 | $ 61,000 |
| Port St. Lucie-Fort Pierce, FL | 156 | $ 25,171,000 | $ 161,352 | $ 63,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 129 | $ 22,989,000 | $ 178,209 | $ 67,000 |
| Orlando, FL | 125 | $ 18,593,000 | $ 148,744 | $ 61,000 |
| Cincinnati-Middletown, OH-KY-IN | 115 | $ 14,070,000 | $ 122,347 | $ 55,000 |
| Flint, MI | 77 | $ 8,026,000 | $ 104,233 | $ 50,000 |
| Sarasota-Bradenton-Venice, FL | 64 | $ 10,661,000 | $ 166,578 | $ 82,000 |
| Indianapolis, IN | 60 | $ 6,816,000 | $ 113,600 | $ 61,000 |
| Lakeland, FL | 40 | $ 4,395,000 | $ 109,875 | $ 59,000 |
| Lansing-East Lansing, MI | 38 | $ 3,763,000 | $ 99,026 | $ 56,000 |
| Dayton, OH | 35 | $ 3,318,000 | $ 94,800 | $ 54,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 31 | $ 6,327,000 | $ 204,096 | $ 85,000 |
| Akron, OH | 30 | $ 3,231,000 | $ 107,700 | $ 52,000 |
| Columbus, OH | 24 | $ 2,886,000 | $ 120,250 | $ 65,000 |
| Denver-Aurora, CO | 21 | $ 3,598,000 | $ 171,333 | $ 56,000 |
| Cleveland-Elyria-Mentor, OH | 17 | $ 2,518,000 | $ 148,117 | $ 69,000 |
| Ann Arbor, MI | 16 | $ 2,592,000 | $ 162,000 | $ 60,000 |
| Vero Beach, FL | 16 | $ 2,065,000 | $ 129,062 | $ 49,000 |
| Miami-Miami Beach-Kendall, FL | 15 | $ 2,565,000 | $ 171,000 | $ 64,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 14 | $ 2,021,000 | $ 144,357 | $ 59,000 |
| Jacksonville, FL | 13 | $ 1,720,000 | $ 132,307 | $ 53,000 |
| Duluth, MN-WI | 12 | $ 1,345,000 | $ 112,083 | $ 60,000 |
| Jackson, MI | 12 | $ 1,615,000 | $ 134,583 | $ 50,000 |
| Grand Rapids-Wyoming, MI | 10 | $ 1,647,000 | $ 164,700 | $ 56,000 |
| St. Cloud, MN | 10 | $ 1,212,000 | $ 121,200 | $ 74,000 |
| Canton-Massillon, OH | 8 | $ 814,000 | $ 101,750 | $ 31,000 |
| Cape Coral-Fort Myers, FL | 8 | $ 1,596,000 | $ 199,500 | $ 121,000 |
| Youngstown-Warren-Boardman, OH-PA | 8 | $ 1,181,000 | $ 147,625 | $ 57,000 |
| Milwaukee-Waukesha-West Allis, WI | 7 | $ 799,000 | $ 114,142 | $ 74,000 |
| Battle Creek, MI | 5 | $ 529,000 | $ 105,800 | $ 40,000 |
| Kalamazoo-Portage, MI | 5 | $ 578,000 | $ 115,600 | $ 50,000 |
| Muskegon-Norton Shores, MI | 5 | $ 469,000 | $ 93,800 | $ 36,000 |
| Saginaw-Saginaw Township North, MI | 5 | $ 303,000 | $ 60,600 | $ 27,000 |
| South Bend-Mishawaka, IN-MI | 5 | $ 354,000 | $ 70,800 | $ 45,000 |
| Evansville, IN-KY | 4 | $ 345,000 | $ 86,250 | $ 41,000 |
| Greeley, CO | 4 | $ 724,000 | $ 181,000 | $ 73,000 |
| Palm Bay-Melbourne-Titusville, FL | 4 | $ 469,000 | $ 117,250 | $ 70,000 |
| Springfield, OH | 4 | $ 502,000 | $ 125,500 | $ 55,000 |
| Lexington-Fayette, KY | 3 | $ 1,071,000 | $ 357,000 | $ 118,000 |
| Punta Gorda, FL | 3 | $ 443,000 | $ 147,666 | $ 62,000 |
| Rochester, MN | 3 | $ 505,000 | $ 168,333 | $ 45,000 |
| Toledo, OH | 3 | $ 378,000 | $ 126,000 | $ 56,000 |
| Anderson, IN | 2 | $ 205,000 | $ 102,500 | $ 37,000 |
| Boulder, CO | 2 | $ 374,000 | $ 187,000 | $ 46,000 |
| Elkhart-Goshen, IN | 2 | $ 158,000 | $ 79,000 | $ 53,000 |
| Fargo, ND-MN | 2 | $ 180,000 | $ 90,000 | $ 69,000 |
| Fort Wayne, IN | 2 | $ 150,000 | $ 75,000 | $ 71,000 |
| Gary, IN | 2 | $ 598,000 | $ 299,000 | $ 380,000 |
| Grand Forks, ND-MN | 2 | $ 189,000 | $ 94,500 | $ 43,000 |
| Lima, OH | 2 | $ 179,000 | $ 89,500 | $ 28,000 |
| Naples-Marco Island, FL | 2 | $ 497,000 | $ 248,500 | $ 86,000 |
| Ocala, FL | 2 | $ 126,000 | $ 63,000 | $ 36,000 |
| Terre Haute, IN | 2 | $ 185,000 | $ 92,500 | $ 52,000 |
| Atlanta-Sandy Springs-Marietta, GA | 1 | $ 187,000 | $ 187,000 | $ 60,000 |
| Columbia, SC | 1 | $ 525,000 | $ 525,000 | $ 332,000 |
| Des Moines, IA | 1 | $ 63,000 | $ 63,000 | $ 26,000 |
| Eau Claire, WI | 1 | $ 116,000 | $ 116,000 | $ 31,000 |
| Janesville, WI | 1 | $ 112,000 | $ 112,000 | $ 37,000 |
| Lafayette, IN | 1 | $ 198,000 | $ 198,000 | $ 70,000 |
| Louisville, KY-IN | 1 | $ 77,000 | $ 77,000 | $ 931,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC | 1 | $ 50,000 | $ 50,000 | $ 52,000 |
| Pensacola-Ferry Pass-Brent, FL | 1 | $ 164,000 | $ 164,000 | $ 40,000 |
| Pueblo, CO | 1 | $ 147,000 | $ 147,000 | $ 31,000 |
| Richmond, VA | 1 | $ 100,000 | $ 100,000 | $ 26,000 |
| Sandusky, OH | 1 | $ 193,000 | $ 193,000 | $ 66,000 |
| Tallahassee, FL | 1 | $ 240,000 | $ 240,000 | $ 111,000 |
Mortgage Loan Application Detail Totals for Lendsource Inc in 2005
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 | 1,504 | $198,344,000 | $105,166 | $760,000 | $53,833 | $396,000 |
| Refinancing | 1,130 | $175,326,000 | $181,923 | $788,000 | $86,461 | $931,000 |
| Home Improvement | 32 | $5,231,000 | $150,200 | $400,000 | $53,200 | $266,000 |
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 | 1,340 | $193,892,000 | $123,181 | $788,000 | $63,454 | $931,000 |
| Black or African American | 564 | $70,256,000 | $164,300 | $686,000 | $76,100 | $332,000 |
| Not Provided | 359 | $52,107,000 | $148,000 | $499,000 | $62,200 | $272,000 |
| Hispanic | 337 | $50,615,000 | $147,428 | $437,000 | $50,000 | $187,000 |
| Asian | 57 | $10,391,000 | $157,750 | $475,000 | $65,000 | $156,000 |
| American Indian or Alaskan Native | 6 | $1,078,000 | $178,000 | $250,000 | $70,500 | $120,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $562,000 | $194,500 | $217,000 | $50,000 | $51,000 |
| 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) | 2,664 | $378,637,000 | $145,857 | $788,000 | $68,714 | $931,000 |
| VA-guaranteed (Veterans Administration) | 2 | $264,000 | $132,000 | $201,000 | $46,000 | $59,000 |
| 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 |
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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 898 | $120,533,000 | $146,923 | $760,000 | $74,692 | $931,000 |
| Loan Originated | 886 | $126,891,000 | $129,222 | $512,000 | $55,888 | $360,000 |
| Application Approved But Not Accepted | 625 | $91,088,000 | $124,600 | $788,000 | $70,800 | $336,000 |
| Application Withdrawn By Applicant | 196 | $31,339,000 | $203,222 | $686,000 | $72,444 | $396,000 |
| File Closed For Incompleteness | 61 | $9,050,000 | $156,571 | $527,000 | $67,714 | $360,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Lendsource Inc's 2005 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 Lendsource 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.
For a list of all lenders in Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.
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