Merit Financial, Inc Mortgage Lending & HMDA Data, 2003
In 2003, Merit Financial, Inc of Kirkland, WA reported 5,328 mortgage applications totaling $798.3 million. The average application was for $149,829, and applicants reported an average income of $50,041. 80% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Seattle-Bellevue-Everett, WA (481), Atlanta, GA (354) and Chicago, IL (345) (applications in parentheses).
| Mortgage Company & Address | Merit Financial, Inc 13905 Ne 128th St Kirkland, WA 98034 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 5,328 |
| Total Mortgage Loan Application Amount | $798,294,000 |
| Average Mortgage Loan Application Amount | $149,829 |
| Highest Mortgage Loan Application Amount | $1,311,000 |
| Average Applicant Income | $50,041 |
| Highest Applicant Income | $1,020,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Merit Financial, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Seattle-Bellevue-Everett, WA | 481 | $ 88,471,000 | $ 183,931 | $ 69,000 |
| Atlanta, GA | 354 | $ 49,664,000 | $ 140,293 | $ 41,000 |
| Chicago, IL | 345 | $ 52,420,000 | $ 151,942 | $ 46,000 |
| Baltimore, MD | 170 | $ 23,771,000 | $ 139,829 | $ 49,000 |
| Portland-Vancouver, OR-WA | 143 | $ 22,605,000 | $ 158,076 | $ 52,000 |
| Riverside-San Bernardino, CA | 143 | $ 20,411,000 | $ 142,734 | $ 53,000 |
| Tacoma, WA | 141 | $ 20,323,000 | $ 144,134 | $ 51,000 |
| Phoenix-Mesa, AZ | 136 | $ 19,129,000 | $ 140,654 | $ 44,000 |
| Jacksonville, FL | 127 | $ 17,460,000 | $ 137,480 | $ 44,000 |
| Norfolk-Virginia Beach-Newport News, VA-NC | 127 | $ 17,866,000 | $ 140,677 | $ 42,000 |
| Las Vegas, NV-AZ | 104 | $ 15,260,000 | $ 146,730 | $ 49,000 |
| Orlando, FL | 97 | $ 12,927,000 | $ 133,268 | $ 43,000 |
| Los Angeles-Long Beach, CA | 86 | $ 15,433,000 | $ 179,453 | $ 68,000 |
| Tampa-St. Petersburg-Clearwater, FL | 86 | $ 11,869,000 | $ 138,011 | $ 46,000 |
| Denver, CO | 58 | $ 9,548,000 | $ 164,620 | $ 62,000 |
| Pensacola, FL | 58 | $ 8,017,000 | $ 138,224 | $ 39,000 |
| San Diego, CA | 53 | $ 10,005,000 | $ 188,773 | $ 60,000 |
| Salem, OR | 51 | $ 6,484,000 | $ 127,137 | $ 41,000 |
| Fort Lauderdale, FL | 50 | $ 7,434,000 | $ 148,680 | $ 51,000 |
| Salt Lake City-Ogden, UT | 50 | $ 6,686,000 | $ 133,720 | $ 44,000 |
| Bremerton, WA | 49 | $ 7,029,000 | $ 143,448 | $ 49,000 |
| Sacramento, CA | 49 | $ 8,178,000 | $ 166,897 | $ 84,000 |
| Birmingham, AL | 46 | $ 6,538,000 | $ 142,130 | $ 42,000 |
| Colorado Springs, CO | 44 | $ 6,411,000 | $ 145,704 | $ 39,000 |
| Spokane, WA | 44 | $ 4,878,000 | $ 110,863 | $ 45,000 |
| Miami, FL | 42 | $ 6,391,000 | $ 152,166 | $ 56,000 |
| Modesto, CA | 38 | $ 6,383,000 | $ 167,973 | $ 47,000 |
| Richmond-Petersburg, VA | 38 | $ 4,912,000 | $ 129,263 | $ 33,000 |
| Eugene-Springfield, OR | 37 | $ 5,274,000 | $ 142,540 | $ 49,000 |
| Melbourne-Titusville-Palm Bay, FL | 37 | $ 4,955,000 | $ 133,918 | $ 57,000 |
| Olympia, WA | 37 | $ 4,911,000 | $ 132,729 | $ 34,000 |
| Tucson, AZ | 35 | $ 4,488,000 | $ 128,228 | $ 33,000 |
| Indianapolis, IN | 31 | $ 3,410,000 | $ 110,000 | $ 25,000 |
| Richland-Kennewick-Pasco, WA | 31 | $ 3,846,000 | $ 124,064 | $ 65,000 |
| Fort Walton Beach, FL | 29 | $ 4,360,000 | $ 150,344 | $ 63,000 |
| Memphis, TN-AR-MS | 29 | $ 4,281,000 | $ 147,620 | $ 35,000 |
| Orange County, CA | 29 | $ 7,349,000 | $ 253,413 | $ 75,000 |
| Sarasota-Bradenton, FL | 26 | $ 3,513,000 | $ 135,115 | $ 44,000 |
| Oakland, CA | 25 | $ 4,394,000 | $ 175,760 | $ 69,000 |
| Stockton-Lodi, CA | 24 | $ 3,466,000 | $ 144,416 | $ 47,000 |
| Boise City, ID | 23 | $ 2,725,000 | $ 118,478 | $ 52,000 |
| Kansas City, MO-KS | 22 | $ 2,626,000 | $ 119,363 | $ 26,000 |
| Merced, CA | 22 | $ 3,488,000 | $ 158,545 | $ 57,000 |
| Oklahoma City, OK | 20 | $ 3,079,000 | $ 153,950 | $ 44,000 |
| Daytona Beach, FL | 19 | $ 2,906,000 | $ 152,947 | $ 24,000 |
| Fresno, CA | 19 | $ 2,474,000 | $ 130,210 | $ 48,000 |
| West Palm Beach-Boca Raton, FL | 19 | $ 3,340,000 | $ 175,789 | $ 70,000 |
| Bakersfield, CA | 18 | $ 2,478,000 | $ 137,666 | $ 59,000 |
| Minneapolis-St. Paul, MN-WI | 18 | $ 2,873,000 | $ 159,611 | $ 47,000 |
| Peoria-Pekin, IL | 18 | $ 2,066,000 | $ 114,777 | $ 31,000 |
| Tulsa, OK | 18 | $ 2,412,000 | $ 134,000 | $ 54,000 |
| Ventura, CA | 18 | $ 3,519,000 | $ 195,500 | $ 74,000 |
| Augusta-Aiken, GA-SC | 17 | $ 2,215,000 | $ 130,294 | $ 31,000 |
| Louisville, KY-IN | 17 | $ 2,080,000 | $ 122,352 | $ 47,000 |
| Panama City, FL | 17 | $ 2,280,000 | $ 134,117 | $ 34,000 |
| Fort Myers-Cape Coral, FL | 16 | $ 2,177,000 | $ 136,062 | $ 49,000 |
| St. Louis, MO-IL | 16 | $ 2,573,000 | $ 160,812 | $ 34,000 |
| Vallejo-Fairfield-Napa, CA | 16 | $ 2,928,000 | $ 183,000 | $ 72,000 |
| Lakeland-Winter Haven, FL | 15 | $ 2,102,000 | $ 140,133 | $ 79,000 |
| Rockford, IL | 15 | $ 2,107,000 | $ 140,466 | $ 38,000 |
| Provo-Orem, UT | 14 | $ 2,350,000 | $ 167,857 | $ 33,000 |
| Yakima, WA | 14 | $ 1,999,000 | $ 142,785 | $ 62,000 |
| Bellingham, WA | 13 | $ 2,024,000 | $ 155,692 | $ 49,000 |
| Corvallis, OR | 13 | $ 1,859,000 | $ 143,000 | $ 56,000 |
| Mobile, AL | 13 | $ 1,760,000 | $ 135,384 | $ 100,000 |
| Montgomery, AL | 13 | $ 1,906,000 | $ 146,615 | $ 37,000 |
| Reno, NV | 13 | $ 2,050,000 | $ 157,692 | $ 28,000 |
| Greenville-Spartanburg-Anderson, SC | 12 | $ 1,713,000 | $ 142,750 | $ 36,000 |
| Hartford, CT | 12 | $ 1,727,000 | $ 143,916 | $ 38,000 |
| Hagerstown, MD | 11 | $ 1,583,000 | $ 143,909 | $ 58,000 |
| Lynchburg, VA | 10 | $ 1,108,000 | $ 110,800 | $ 80,000 |
| Visalia-Tulare-Porterville, CA | 10 | $ 1,259,000 | $ 125,900 | $ 73,000 |
| Charleston-North Charleston, SC | 9 | $ 1,585,000 | $ 176,111 | $ 58,000 |
| Cheyenne, WY | 9 | $ 1,321,000 | $ 146,777 | $ 30,000 |
| Columbia, SC | 9 | $ 1,225,000 | $ 136,111 | $ 25,000 |
| Redding, CA | 9 | $ 1,436,000 | $ 159,555 | $ 42,000 |
| Tallahassee, FL | 9 | $ 1,455,000 | $ 161,666 | $ 41,000 |
| Yolo, CA | 9 | $ 1,251,000 | $ 139,000 | $ 67,000 |
| Fort Pierce-Port St. Lucie, FL | 8 | $ 1,652,000 | $ 206,500 | $ 49,000 |
| Nashville, TN | 8 | $ 1,274,000 | $ 159,250 | $ 0 |
| Roanoke, VA | 8 | $ 876,000 | $ 109,500 | $ 53,000 |
| Salinas, CA | 8 | $ 1,463,000 | $ 182,875 | $ 50,000 |
| Santa Barbara-Santa Maria-Lompoc, CA | 8 | $ 1,357,000 | $ 169,625 | $ 97,000 |
| Champaign-Urbana, IL | 7 | $ 813,000 | $ 116,142 | $ 46,000 |
| Chattanooga, TN-GA | 7 | $ 798,000 | $ 114,000 | $ 34,000 |
| Chico-Paradise, CA | 7 | $ 850,000 | $ 121,428 | $ 50,000 |
| Naples, FL | 7 | $ 951,000 | $ 135,857 | $ 23,000 |
| Yuma, AZ | 7 | $ 1,035,000 | $ 147,857 | $ 56,000 |
| Bloomington-Normal, IL | 6 | $ 848,000 | $ 141,333 | $ 13,000 |
| Fort Collins-Loveland, CO | 6 | $ 935,000 | $ 155,833 | $ 40,000 |
| Great Falls, MT | 6 | $ 748,000 | $ 124,666 | $ 33,000 |
| San Jose, CA | 6 | $ 1,735,000 | $ 289,166 | $ 75,000 |
| Santa Rosa, CA | 6 | $ 1,766,000 | $ 294,333 | $ 74,000 |
| Yuba City, CA | 6 | $ 887,000 | $ 147,833 | $ 43,000 |
| Charlottesville, VA | 5 | $ 764,000 | $ 152,800 | $ 42,000 |
| Flagstaff, AZ-UT | 5 | $ 711,000 | $ 142,200 | $ 31,000 |
| Huntsville, AL | 5 | $ 770,000 | $ 154,000 | $ 16,000 |
| Lexington, KY | 5 | $ 705,000 | $ 141,000 | $ 18,000 |
| Missoula, MT | 5 | $ 677,000 | $ 135,400 | $ 14,000 |
| Ocala, FL | 5 | $ 648,000 | $ 129,600 | $ 40,000 |
| San Francisco, CA | 5 | $ 2,093,000 | $ 418,600 | $ 82,000 |
| Albany, GA | 4 | $ 362,000 | $ 90,500 | $ 55,000 |
| Billings, MT | 4 | $ 500,000 | $ 125,000 | $ 8,000 |
| Greeley, CO | 4 | $ 922,000 | $ 230,500 | $ 30,000 |
| Kankakee, IL | 4 | $ 398,000 | $ 99,500 | $ 66,000 |
| Pueblo, CO | 4 | $ 640,000 | $ 160,000 | $ 49,000 |
| Punta Gorda, FL | 4 | $ 578,000 | $ 144,500 | $ 35,000 |
| Springfield, IL | 4 | $ 448,000 | $ 112,000 | $ 65,000 |
| Tuscaloosa, AL | 4 | $ 547,000 | $ 136,750 | $ 43,000 |
| Boulder-Longmont, CO | 3 | $ 514,000 | $ 171,333 | $ 20,000 |
| Bridgeport, CT | 3 | $ 466,000 | $ 155,333 | $ 84,000 |
| Danbury, CT | 3 | $ 579,000 | $ 193,000 | $ 56,000 |
| Johnson City-Kingsport-Bristol, TN-VA | 3 | $ 421,000 | $ 140,333 | $ 24,000 |
| Medford-Ashland, OR | 3 | $ 315,000 | $ 105,000 | $ 54,000 |
| New Orleans, LA | 3 | $ 431,000 | $ 143,666 | $ 112,000 |
| Savannah, GA | 3 | $ 283,000 | $ 94,333 | $ 53,000 |
| Columbus, GA-AL | 2 | $ 225,000 | $ 112,500 | $ 33,000 |
| Cumberland, MD-WV | 2 | $ 111,000 | $ 55,500 | $ 32,000 |
| Decatur, IL | 2 | $ 99,000 | $ 49,500 | $ 37,000 |
| Dothan, AL | 2 | $ 117,000 | $ 58,500 | $ 67,000 |
| Gainesville, FL | 2 | $ 232,000 | $ 116,000 | $ 79,000 |
| Grand Junction, CO | 2 | $ 283,000 | $ 141,500 | $ 36,000 |
| Honolulu, HI | 2 | $ 206,000 | $ 103,000 | $ 72,000 |
| Knoxville, TN | 2 | $ 212,000 | $ 106,000 | $ 0 |
| Macon, GA | 2 | $ 279,000 | $ 139,500 | $ 84,000 |
| Nassau-Suffolk, NY | 2 | $ 396,000 | $ 198,000 | $ 45,000 |
| San Luis Obispo-Atascadero-Paso Robles, CA | 2 | $ 458,000 | $ 229,000 | $ 79,000 |
| Santa Cruz-Watsonville, CA | 2 | $ 574,000 | $ 287,000 | $ 59,000 |
| South Bend, IN | 2 | $ 200,000 | $ 100,000 | $ 30,000 |
| Albuquerque, NM | 1 | $ 114,000 | $ 114,000 | $ 0 |
| Anchorage, AK | 1 | $ 177,000 | $ 177,000 | $ 60,000 |
| Ann Arbor, MI | 1 | $ 105,000 | $ 105,000 | $ 0 |
| Athens, GA | 1 | $ 145,000 | $ 145,000 | $ 35,000 |
| Auburn-Opelika, AL | 1 | $ 133,000 | $ 133,000 | $ 0 |
| Biloxi-Gulfport-Pascagoula, MS | 1 | $ 72,000 | $ 72,000 | $ 0 |
| Buffalo-Niagara Falls, NY | 1 | $ 139,000 | $ 139,000 | $ 60,000 |
| Casper, WY | 1 | $ 105,000 | $ 105,000 | $ 0 |
| Charlotte-Gastonia-Rock Hill, NC-SC | 1 | $ 131,000 | $ 131,000 | $ 0 |
| Clarksville-Hopkinsville, TN-KY | 1 | $ 71,000 | $ 71,000 | $ 72,000 |
| Columbus, OH | 1 | $ 86,000 | $ 86,000 | $ 53,000 |
| Danville, VA | 1 | $ 76,000 | $ 76,000 | $ 38,000 |
| Detroit, MI | 1 | $ 86,000 | $ 86,000 | $ 75,000 |
| Florence, SC | 1 | $ 111,000 | $ 111,000 | $ 110,000 |
| Fort Worth-Arlington, TX | 1 | $ 154,000 | $ 154,000 | $ 0 |
| Gary, IN | 1 | $ 113,000 | $ 113,000 | $ 38,000 |
| Killeen-Temple, TX | 1 | $ 64,000 | $ 64,000 | $ 104,000 |
| Lawton, OK | 1 | $ 65,000 | $ 65,000 | $ 84,000 |
| Middlesex-Somerset-Hunterdon, NJ | 1 | $ 192,000 | $ 192,000 | $ 48,000 |
| Myrtle Beach, SC | 1 | $ 149,000 | $ 149,000 | $ 36,000 |
| New London-Norwich, CT-RI | 1 | $ 75,000 | $ 75,000 | $ 47,000 |
| Pittsburgh, PA | 1 | $ 57,000 | $ 57,000 | $ 80,000 |
| Portland, ME | 1 | $ 2,000 | $ 2,000 | $ 0 |
| Providence-Fall River-Warwick, RI-MA | 1 | $ 139,000 | $ 139,000 | $ 48,000 |
| Rochester, MN | 1 | $ 140,000 | $ 140,000 | $ 39,000 |
| Sharon, PA | 1 | $ 60,000 | $ 60,000 | $ 75,000 |
| Springfield, MO | 1 | $ 160,000 | $ 160,000 | $ 124,000 |
| Stamford-Norwalk, CT | 1 | $ 105,000 | $ 105,000 | $ 355,000 |
| Williamsport, PA | 1 | $ 79,000 | $ 79,000 | $ 56,000 |
Mortgage Loan Application Detail Totals for Merit Financial, Inc 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) | 4,866 | $726,654,000 | $131,900 | $1,311,000 | $47,225 | $1,020,000 |
| Home Purchase (one-to-four family) | 402 | $62,000,000 | $140,153 | $1,000,000 | $43,384 | $800,000 |
| Home Improvement (one-to-four family) | 60 | $9,640,000 | $132,357 | $440,000 | $53,071 | $181,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 2,733 | $417,144,000 | $132,810 | $1,311,000 | $47,837 | $540,000 |
| Information not provided by applicant in mail or telephone application | 1,054 | $151,426,000 | $149,040 | $473,000 | $40,240 | $1,020,000 |
| Not applicable | 569 | $81,797,000 | $136,133 | $500,000 | $43,133 | $300,000 |
| Black | 569 | $85,249,000 | $148,181 | $643,000 | $44,136 | $404,000 |
| Hispanic | 235 | $34,303,000 | $140,550 | $351,000 | $46,100 | $252,000 |
| Asian or Pacific Islander | 90 | $15,464,000 | $147,333 | $420,000 | $60,066 | $174,000 |
| American Indian or Alaskan Native | 43 | $6,726,000 | $161,666 | $590,000 | $55,333 | $265,000 |
| Other | 35 | $6,185,000 | $164,307 | $372,000 | $57,769 | $196,000 |
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 |
|---|---|---|---|---|---|---|
| VA-guaranteed (Veterans Administration) | 3,908 | $567,173,000 | $127,425 | $1,000,000 | $44,200 | $1,020,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,331 | $218,287,000 | $139,258 | $1,311,000 | $62,354 | $540,000 |
| FHA-insured (Federal Housing Administration) | 87 | $12,764,000 | $125,600 | $388,000 | $30,200 | $166,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $70,000 | $35,000 | $40,000 | $60,000 | $77,000 |
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 | 4,253 | $635,737,000 | $124,085 | $1,311,000 | $41,857 | $1,020,000 |
| Application Withdrawn By Applicant | 377 | $57,016,000 | $150,310 | $643,000 | $58,896 | $355,000 |
| Application Denied By Financial Institution | 368 | $54,363,000 | $144,620 | $734,000 | $47,137 | $265,000 |
| Application Approved But Not Accepted | 308 | $48,466,000 | $149,307 | $506,000 | $61,961 | $345,000 |
| File Closed For Incompleteness | 22 | $2,712,000 | $110,384 | $263,000 | $50,384 | $131,000 |
| Loan Purchased By The 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 | 133 | $18,833,000 | $145,391 | $379,000 | $39,217 | $168,000 |
| Other | 45 | $6,975,000 | $167,176 | $500,000 | $36,941 | $144,000 |
| Debt-To-Income Ratio | 33 | $4,539,000 | $140,266 | $352,000 | $45,666 | $103,000 |
| Collateral | 11 | $1,348,000 | $115,125 | $221,000 | $29,750 | $58,000 |
| Employment History | 7 | $1,269,000 | $187,400 | $265,000 | $44,200 | $99,000 |
| Unverifiable Information | 4 | $723,000 | $180,750 | $235,000 | $56,750 | $101,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $798,000 | $399,000 | $588,000 | $152,500 | $170,000 |
| Mortgage Insurance Denied | 1 | $41,000 | $41,000 | $41,000 | $0 | $0 |
| Credit Application Incomplete | 1 | $126,000 | $126,000 | $126,000 | $48,000 | $48,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Merit Financial, Inc'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 Merit Financial, 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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