Maverick Funding Mortgage Lending & HMDA Data, 2008
In 2008, Maverick Funding of Parsippany, NJ reported 722 mortgage applications totaling $180.5 million. The average application was for $250,027, and applicants reported an average income of $73,601. 61% of its applications resulted in an originated loan and 22% were denied. Its largest markets were Providence-New Bedford-Fall River, RI-MA (137), Hartford-West Hartford-East Hartford, CT (59) and Newark-Union, NJ-PA (57) (applications in parentheses).
| Mortgage Company & Address | Maverick Funding 1160 Parsippany Boulevard, Suite B Parsippany, NJ 07054 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 |
| Total Number of Mortgage Applications | 722 |
| Total Mortgage Loan Application Amount | $180,520,000 |
| Average Mortgage Loan Application Amount | $250,027 |
| Highest Mortgage Loan Application Amount | $734,000 |
| Average Applicant Income | $73,601 |
| Highest Applicant Income | $324,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Maverick Funding filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Providence, Rhode Island | 86 | $ 18,794,000 | $ 218,534 | $ 61,000 |
| Hartford, Connecticut | 48 | $ 10,214,000 | $ 212,791 | $ 70,000 |
| New Haven, Connecticut | 36 | $ 8,491,000 | $ 235,861 | $ 67,000 |
| Essex, New Jersey | 31 | $ 10,809,000 | $ 348,677 | $ 93,000 |
| Worcester, Massachusetts | 24 | $ 5,695,000 | $ 237,291 | $ 85,000 |
| Fairfield, Connecticut | 22 | $ 5,818,000 | $ 264,454 | $ 98,000 |
| Kent, Rhode Island | 22 | $ 4,680,000 | $ 212,727 | $ 64,000 |
| Passaic, New Jersey | 17 | $ 5,778,000 | $ 339,882 | $ 80,000 |
| Middlesex, Massachusetts | 16 | $ 5,271,000 | $ 329,437 | $ 92,000 |
| Norfolk, Massachusetts | 16 | $ 4,759,000 | $ 297,437 | $ 71,000 |
| Bristol, Massachusetts | 15 | $ 3,817,000 | $ 254,466 | $ 71,000 |
| Essex, Massachusetts | 13 | $ 3,595,000 | $ 276,538 | $ 72,000 |
| Hampden, Massachusetts | 12 | $ 2,312,000 | $ 192,666 | $ 76,000 |
| Plymouth, Massachusetts | 12 | $ 3,473,000 | $ 289,416 | $ 71,000 |
| Camden, New Jersey | 12 | $ 2,278,000 | $ 189,833 | $ 76,000 |
| Ocean, New Jersey | 12 | $ 4,200,000 | $ 350,000 | $ 97,000 |
| Suffolk, Massachusetts | 11 | $ 4,037,000 | $ 367,000 | $ 82,000 |
| Washington, Rhode Island | 11 | $ 2,422,000 | $ 220,181 | $ 61,000 |
| Bergen, New Jersey | 10 | $ 4,132,000 | $ 413,200 | $ 116,000 |
| Hudson, New Jersey | 10 | $ 3,318,000 | $ 331,800 | $ 83,000 |
| Middlesex, New Jersey | 9 | $ 2,235,000 | $ 248,333 | $ 74,000 |
| Monmouth, New Jersey | 9 | $ 2,960,000 | $ 328,888 | $ 83,000 |
| Morris, New Jersey | 9 | $ 2,310,000 | $ 256,666 | $ 59,000 |
| Union, New Jersey | 9 | $ 2,712,000 | $ 301,333 | $ 71,000 |
| Tolland, Connecticut | 8 | $ 1,772,000 | $ 221,500 | $ 81,000 |
| Lackawanna, Pennsylvania | 8 | $ 1,263,000 | $ 157,875 | $ 65,000 |
| Monroe, Pennsylvania | 8 | $ 1,385,000 | $ 173,125 | $ 56,000 |
| Wyoming, Pennsylvania | 8 | $ 1,221,000 | $ 152,625 | $ 70,000 |
| Somerset, New Jersey | 7 | $ 2,473,000 | $ 353,285 | $ 101,000 |
| Luzerne, Pennsylvania | 7 | $ 901,000 | $ 128,714 | $ 71,000 |
| Montgomery, Pennsylvania | 7 | $ 1,665,000 | $ 237,857 | $ 73,000 |
| New London, Connecticut | 6 | $ 1,416,000 | $ 236,000 | $ 66,000 |
| Kennebec, Maine | 6 | $ 1,210,000 | $ 201,666 | $ 64,000 |
| Rockingham, New Hampshire | 6 | $ 1,604,000 | $ 267,333 | $ 88,000 |
| Atlantic, New Jersey | 6 | $ 1,354,000 | $ 225,666 | $ 51,000 |
| Gloucester, New Jersey | 6 | $ 1,055,000 | $ 175,833 | $ 49,000 |
| Sussex, New Jersey | 6 | $ 1,804,000 | $ 300,666 | $ 101,000 |
| Bristol, Rhode Island | 6 | $ 1,875,000 | $ 312,500 | $ 90,000 |
| Litchfield, Connecticut | 5 | $ 1,114,000 | $ 222,800 | $ 64,000 |
| Duval, Florida | 5 | $ 687,000 | $ 137,400 | $ 48,000 |
| Penobscot, Maine | 5 | $ 704,000 | $ 140,800 | $ 41,000 |
| Prince George's, Maryland | 5 | $ 1,377,000 | $ 275,400 | $ 83,000 |
| Hillsborough, New Hampshire | 5 | $ 1,289,000 | $ 257,800 | $ 95,000 |
| Cumberland, New Jersey | 5 | $ 909,000 | $ 181,800 | $ 48,000 |
| Middlesex, Connecticut | 4 | $ 835,000 | $ 208,750 | $ 63,000 |
| Anne Arundel, Maryland | 4 | $ 1,065,000 | $ 266,250 | $ 48,000 |
| Berkshire, Massachusetts | 4 | $ 524,000 | $ 131,000 | $ 36,000 |
| Burlington, New Jersey | 4 | $ 1,011,000 | $ 252,750 | $ 78,000 |
| Mercer, New Jersey | 4 | $ 1,109,000 | $ 277,250 | $ 87,000 |
| Warren, New Jersey | 4 | $ 1,134,000 | $ 283,500 | $ 88,000 |
| Delaware, Pennsylvania | 4 | $ 933,000 | $ 233,250 | $ 75,000 |
| Frederick, Maryland | 3 | $ 723,000 | $ 241,000 | $ 95,000 |
| Montgomery, Maryland | 3 | $ 1,193,000 | $ 397,666 | $ 122,000 |
| Barnstable, Massachusetts | 3 | $ 1,029,000 | $ 343,000 | $ 83,000 |
| Salem, New Jersey | 3 | $ 568,000 | $ 189,333 | $ 76,000 |
| Cuyahoga, Ohio | 3 | $ 513,000 | $ 171,000 | $ 63,000 |
| Susquehanna, Pennsylvania | 3 | $ 531,000 | $ 177,000 | $ 61,000 |
| Windham, Connecticut | 2 | $ 512,000 | $ 256,000 | $ 72,000 |
| Miami-Dade, Florida | 2 | $ 571,000 | $ 285,500 | $ 92,000 |
| Hancock, Maine | 2 | $ 299,000 | $ 149,500 | $ 36,000 |
| Somerset, Maine | 2 | $ 174,000 | $ 87,000 | $ 29,000 |
| Waldo, Maine | 2 | $ 294,000 | $ 147,000 | $ 42,000 |
| Baltimore, Maryland | 2 | $ 485,000 | $ 242,500 | $ 126,000 |
| Baltimore City, Maryland | 2 | $ 510,000 | $ 255,000 | $ 65,000 |
| Charles, Maryland | 2 | $ 424,000 | $ 212,000 | $ 50,000 |
| Garrett, Maryland | 2 | $ 333,000 | $ 166,500 | $ 80,000 |
| Worcester, Maryland | 2 | $ 530,000 | $ 265,000 | $ 57,000 |
| Hampshire, Massachusetts | 2 | $ 536,000 | $ 268,000 | $ 52,000 |
| Strafford, New Hampshire | 2 | $ 396,000 | $ 198,000 | $ 81,000 |
| Hunterdon, New Jersey | 2 | $ 615,000 | $ 307,500 | $ 137,000 |
| Allegheny, Pennsylvania | 2 | $ 429,000 | $ 214,500 | $ 52,000 |
| Berks, Pennsylvania | 2 | $ 512,000 | $ 256,000 | $ 88,000 |
| Philadelphia, Pennsylvania | 2 | $ 436,000 | $ 218,000 | $ 50,000 |
| Calhoun, Alabama | 1 | $ 296,000 | $ 296,000 | $ 103,000 |
| Broward, Florida | 1 | $ 185,000 | $ 185,000 | $ 34,000 |
| Citrus, Florida | 1 | $ 77,000 | $ 77,000 | $ 36,000 |
| Clay, Florida | 1 | $ 198,000 | $ 198,000 | $ 78,000 |
| Pinellas, Florida | 1 | $ 195,000 | $ 195,000 | $ 0 |
| Polk, Florida | 1 | $ 246,000 | $ 246,000 | $ 72,000 |
| Sarasota, Florida | 1 | $ 174,000 | $ 174,000 | $ 48,000 |
| St. Lucie, Florida | 1 | $ 103,000 | $ 103,000 | $ 51,000 |
| Androscoggin, Maine | 1 | $ 132,000 | $ 132,000 | $ 35,000 |
| Cumberland, Maine | 1 | $ 222,000 | $ 222,000 | $ 59,000 |
| Franklin, Maine | 1 | $ 228,000 | $ 228,000 | $ 181,000 |
| York, Maine | 1 | $ 258,000 | $ 258,000 | $ 0 |
| Calvert, Maryland | 1 | $ 417,000 | $ 417,000 | $ 85,000 |
| Carroll, Maryland | 1 | $ 183,000 | $ 183,000 | $ 70,000 |
| Queen Anne's, Maryland | 1 | $ 405,000 | $ 405,000 | $ 227,000 |
| Washington, Maryland | 1 | $ 227,000 | $ 227,000 | $ 36,000 |
| Franklin, Massachusetts | 1 | $ 236,000 | $ 236,000 | $ 57,000 |
| Grafton, New Hampshire | 1 | $ 286,000 | $ 286,000 | $ 79,000 |
| Delaware, New York | 1 | $ 130,000 | $ 130,000 | $ 55,000 |
| Dutchess, New York | 1 | $ 262,000 | $ 262,000 | $ 59,000 |
| Queens, New York | 1 | $ 417,000 | $ 417,000 | $ 80,000 |
| Richmond, New York | 1 | $ 578,000 | $ 578,000 | $ 147,000 |
| Rockland, New York | 1 | $ 317,000 | $ 317,000 | $ 88,000 |
| Suffolk, New York | 1 | $ 475,000 | $ 475,000 | $ 157,000 |
| Lorain, Ohio | 1 | $ 136,000 | $ 136,000 | $ 33,000 |
| Adams, Pennsylvania | 1 | $ 417,000 | $ 417,000 | $ 121,000 |
| Beaver, Pennsylvania | 1 | $ 188,000 | $ 188,000 | $ 64,000 |
| Bucks, Pennsylvania | 1 | $ 227,000 | $ 227,000 | $ 58,000 |
| Carbon, Pennsylvania | 1 | $ 251,000 | $ 251,000 | $ 72,000 |
| Centre, Pennsylvania | 1 | $ 173,000 | $ 173,000 | $ 31,000 |
| Crawford, Pennsylvania | 1 | $ 122,000 | $ 122,000 | $ 91,000 |
| Cumberland, Pennsylvania | 1 | $ 138,000 | $ 138,000 | $ 60,000 |
| Dauphin, Pennsylvania | 1 | $ 313,000 | $ 313,000 | $ 92,000 |
| Lancaster, Pennsylvania | 1 | $ 308,000 | $ 308,000 | $ 110,000 |
| Lebanon, Pennsylvania | 1 | $ 237,000 | $ 237,000 | $ 88,000 |
| Lehigh, Pennsylvania | 1 | $ 170,000 | $ 170,000 | $ 47,000 |
| Northampton, Pennsylvania | 1 | $ 310,000 | $ 310,000 | $ 81,000 |
| Northumberland, Pennsylvania | 1 | $ 82,000 | $ 82,000 | $ 51,000 |
| Pike, Pennsylvania | 1 | $ 141,000 | $ 141,000 | $ 36,000 |
| Warren, Pennsylvania | 1 | $ 92,000 | $ 92,000 | $ 53,000 |
| Wayne, Pennsylvania | 1 | $ 274,000 | $ 274,000 | $ 64,000 |
| York, Pennsylvania | 1 | $ 208,000 | $ 208,000 | $ 67,000 |
| Newport, Rhode Island | 1 | $ 407,000 | $ 407,000 | $ 65,000 |
| Beaufort, South Carolina | 1 | $ 248,000 | $ 248,000 | $ 89,000 |
| Greene, Tennessee | 1 | $ 158,000 | $ 158,000 | $ 26,000 |
| Albemarle, Virginia | 1 | $ 134,000 | $ 134,000 | $ 53,000 |
Mortgage Loan Application Detail Totals for Maverick Funding in 2008
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 | 522 | $137,660,000 | $263,000 | $734,000 | $75,000 | $285,000 |
| Home Purchase | 195 | $41,537,000 | $213,000 | $529,000 | $70,000 | $324,000 |
| Home Improvement | 5 | $1,323,000 | $264,000 | $552,000 | $68,000 | $162,000 |
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 | 405 | $99,782,000 | $246,000 | $734,000 | $73,000 | $285,000 |
| Not Provided | 200 | $51,980,000 | $259,000 | $720,000 | $78,000 | $324,000 |
| Black or African American | 60 | $14,149,000 | $235,000 | $529,000 | $73,000 | $170,000 |
| Hispanic | 44 | $11,359,000 | $258,000 | $453,000 | $68,000 | $220,000 |
| Asian | 13 | $3,250,000 | $250,000 | $380,000 | $58,000 | $128,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 598 | $149,416,000 | $249,000 | $734,000 | $71,000 | $282,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 124 | $31,104,000 | $250,000 | $630,000 | $85,000 | $324,000 |
| 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 | 444 | $110,304,000 | $248,000 | $734,000 | $73,000 | $282,000 |
| Application Denied By Financial Institution | 159 | $40,298,000 | $253,000 | $720,000 | $75,000 | $324,000 |
| Application Approved But Not Accepted | 82 | $20,368,000 | $248,000 | $578,000 | $75,000 | $227,000 |
| Application Withdrawn By Applicant | 36 | $9,456,000 | $262,000 | $630,000 | $74,000 | $165,000 |
| Preapproval Denied by Financial Institution | 1 | $94,000 | $94,000 | $94,000 | $46,000 | $46,000 |
| 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 |
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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 41 | $10,548,000 | $257,000 | $536,000 | $65,000 | $216,000 |
| Collateral | 27 | $6,778,000 | $251,000 | $405,000 | $86,000 | $285,000 |
| Credit History | 26 | $6,423,000 | $247,000 | $720,000 | $68,000 | $238,000 |
| Other | 25 | $6,010,000 | $240,000 | $475,000 | $77,000 | $212,000 |
| Unverifiable Information | 15 | $4,136,000 | $275,000 | $525,000 | $101,000 | $324,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 10 | $2,583,000 | $258,000 | $383,000 | $73,000 | $103,000 |
| Employment History | 4 | $1,209,000 | $302,000 | $367,000 | $76,000 | $97,000 |
| Credit Application Incomplete | 2 | $642,000 | $321,000 | $468,000 | $81,000 | $117,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Maverick Funding's 2008 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 Maverick Funding'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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