Luxury Mortgage Corp. Mortgage Lending & HMDA Data, 2007

In 2007, Luxury Mortgage Corp. of Stamford, CT reported 783 mortgage applications totaling $1.1 billion, down 13% from 2006. The average application was for $1,402,765, and applicants reported an average income of $766,241. 28% of its applications resulted in an originated loan and 17% were denied. Its largest markets were New York-White Plains-Wayne, NY-NJ (151), Bridgeport-Stamford-Norwalk, CT (94) and Nassau-Suffolk, NY (47) (applications in parentheses).

Mortgage Company & Address Luxury Mortgage Corp.
Four Landmark Square Suite 300
Stamford, CT 06901
Tel #: available with data download
Federal Regulator * available with data download
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Total Number of Mortgage Applications 783
Total Mortgage Loan Application Amount $1,098,365,000
Average Mortgage Loan Application Amount $1,402,765
Highest Mortgage Loan Application Amount $10,000,000
Average Applicant Income $766,241
Highest Applicant Income $8,941,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Luxury Mortgage Corp. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.

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Mortgage Loan Application Detail Totals for Luxury Mortgage Corp. in 2007

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 402 $482,417,000 $1,200,000 $7,930,000 $775,000 $8,941,000
Refinancing 381 $615,948,000 $1,616,000 $10,000,000 $757,000 $6,600,000
Home Improvement 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
White 631 $913,933,000 $1,448,000 $10,000,000 $793,000 $8,941,000
Not Provided 66 $83,985,000 $1,272,000 $5,375,000 $667,000 $3,900,000
Hispanic 40 $41,306,000 $1,032,000 $5,000,000 $565,000 $2,120,000
Asian 25 $30,179,000 $1,207,000 $5,000,000 $686,000 $2,546,000
Black or African American 20 $28,402,000 $1,420,000 $7,800,000 $794,000 $4,535,000
American Indian or Alaskan Native 1 $560,000 $560,000 $560,000 $0 $0
Native Hawaiian or Other Pacific Islander 0 $0 $0 $0 $0 $0
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) 783 $1,098,365,000 $1,402,000 $10,000,000 $766,000 $8,941,000
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
Application Withdrawn By Applicant 373 $482,362,000 $1,293,000 $10,000,000 $761,000 $8,941,000
Loan Originated 217 $330,935,000 $1,525,000 $6,900,000 $814,000 $8,915,000
Application Denied By Financial Institution 137 $198,229,000 $1,446,000 $10,000,000 $733,000 $4,400,000
Application Approved But Not Accepted 56 $86,839,000 $1,550,000 $5,775,000 $698,000 $2,259,000
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
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 Luxury Mortgage Corp.'s 2007 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 Luxury Mortgage Corp.'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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