Liberty Funding Services Mortgage Lending & HMDA Data, 2003
In 2003, Liberty Funding Services of Parsippany, NJ reported 345 mortgage applications totaling $47.7 million. The average application was for $138,220, and applicants reported an average income of $68,301. 0% of its applications resulted in an originated loan and 53% were denied. Its largest markets were Atlanta, GA (37), Chicago, IL (30) and Baltimore, MD (22) (applications in parentheses).
| Mortgage Company & Address | Liberty Funding Services 77 East Halsey Road Parsippany, NJ 07054 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 345 |
| Total Mortgage Loan Application Amount | $47,686,000 |
| Average Mortgage Loan Application Amount | $138,220 |
| Highest Mortgage Loan Application Amount | $382,000 |
| Average Applicant Income | $68,301 |
| Highest Applicant Income | $100,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Liberty Funding Services filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Liberty Funding Services in 2003
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 (home purchase or home improvement, one-to-four family) | 345 | $47,686,000 | $132,666 | $382,000 | $70,916 | $100,000 |
| Home Improvement (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Purchase (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
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 |
|---|---|---|---|---|---|---|
| Information not provided by applicant in mail or telephone application | 345 | $47,686,000 | $132,666 | $382,000 | $70,916 | $100,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| White | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian or Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Black | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 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) | 345 | $47,686,000 | $132,666 | $382,000 | $70,916 | $100,000 |
| 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 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 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 | 183 | $25,436,000 | $133,833 | $382,000 | $85,750 | $100,000 |
| Application Withdrawn By Applicant | 126 | $17,567,000 | $138,181 | $296,000 | $73,181 | $100,000 |
| File Closed For Incompleteness | 36 | $4,683,000 | $125,400 | $237,000 | $10,000 | $10,000 |
| Loan Originated | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 Liberty Funding Services's 2003 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 Liberty Funding Services'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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