M&M Resources Unlimited Inc Mortgage Lending & HMDA Data, 2005
In 2005, M&M Resources Unlimited Inc of Rochester, NY reported 237 mortgage applications totaling $21.5 million, down 19% from 2004. The average application was for $90,822, and applicants reported an average income of $56,801. 60% of its applications resulted in an originated loan and 20% were denied. Its largest markets were Buffalo-Niagara Falls, NY (67), Rochester, NY (60) and Elmira, NY (41) (applications in parentheses).
| Mortgage Company & Address | M&M Resources Unlimited Inc 470 Long Pond Rd Suite 205 Rochester, NY 14612 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 237 |
| Total Mortgage Loan Application Amount | $21,525,000 |
| Average Mortgage Loan Application Amount | $90,822 |
| Highest Mortgage Loan Application Amount | $475,000 |
| Average Applicant Income | $56,801 |
| Highest Applicant Income | $246,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records M&M Resources Unlimited Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for M&M Resources Unlimited 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 | 161 | $15,820,000 | $124,500 | $475,000 | $68,000 | $228,000 |
| Refinancing | 76 | $5,705,000 | $62,000 | $248,000 | $49,500 | $246,000 |
| 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 | 204 | $18,156,000 | $110,000 | $475,000 | $65,000 | $246,000 |
| Black or African American | 24 | $2,634,000 | $143,000 | $381,000 | $66,500 | $149,000 |
| Asian | 4 | $347,000 | $111,500 | $162,000 | $40,500 | $56,000 |
| Hispanic | 3 | $145,000 | $48,000 | $50,000 | $11,000 | $23,000 |
| American Indian or Alaskan Native | 1 | $108,000 | $108,000 | $108,000 | $37,000 | $37,000 |
| Not Provided | 1 | $135,000 | $135,000 | $135,000 | $100,000 | $100,000 |
| 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) | 213 | $19,346,000 | $116,500 | $475,000 | $63,000 | $246,000 |
| FHA-insured (Federal Housing Administration) | 24 | $2,179,000 | $121,500 | $155,000 | $68,000 | $88,000 |
| 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 |
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 | 143 | $12,835,000 | $118,500 | $381,000 | $53,500 | $176,000 |
| Application Denied By Financial Institution | 47 | $4,040,000 | $99,000 | $350,000 | $64,000 | $246,000 |
| Application Withdrawn By Applicant | 28 | $2,495,000 | $103,500 | $240,000 | $59,500 | $116,000 |
| Application Approved But Not Accepted | 16 | $1,882,000 | $166,000 | $475,000 | $109,000 | $228,000 |
| File Closed For Incompleteness | 3 | $273,000 | $91,000 | $99,000 | $39,000 | $47,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 14 | $1,453,000 | $101,500 | $350,000 | $68,000 | $246,000 |
| Collateral | 11 | $810,000 | $73,000 | $195,000 | $50,000 | $91,000 |
| Unverifiable Information | 6 | $437,000 | $72,000 | $140,000 | $73,000 | $130,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $585,000 | $127,000 | $288,000 | $71,500 | $130,000 |
| Credit Application Incomplete | 5 | $305,000 | $61,000 | $124,000 | $36,000 | $57,000 |
| Debt-To-Income Ratio | 4 | $341,000 | $85,000 | $162,000 | $55,000 | $124,000 |
| Employment History | 1 | $47,000 | $47,000 | $47,000 | $29,000 | $29,000 |
| Other | 1 | $62,000 | $62,000 | $62,000 | $47,000 | $47,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into M&M Resources Unlimited 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 M&M Resources Unlimited 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.
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