Mid-Atlantic Financial Service Mortgage Lending & HMDA Data, 2008
In 2008, Mid-Atlantic Financial Service of Atlanta, GA reported 1,403 mortgage applications totaling $231.7 million, up 38% from 2007. The average application was for $165,168, and applicants reported an average income of $62,243. 59% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (747), Charlotte-Gastonia-Concord, NC-SC (59) and Columbus, GA-AL (32) (applications in parentheses).
| Mortgage Company & Address | Mid-Atlantic Financial Service 200 Galleria Parkway Suite 1300 Atlanta, GA 30008 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,403 |
| Total Mortgage Loan Application Amount | $231,732,000 |
| Average Mortgage Loan Application Amount | $165,168 |
| Highest Mortgage Loan Application Amount | $1,100,000 |
| Average Applicant Income | $62,243 |
| Highest Applicant Income | $1,105,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mid-Atlantic Financial Service filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mid-Atlantic Financial Service 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 | 1,002 | $162,321,000 | $161,000 | $495,000 | $58,000 | $772,000 |
| Home Purchase | 347 | $61,259,000 | $176,000 | $1,100,000 | $75,000 | $1,105,000 |
| Home Improvement | 54 | $8,152,000 | $150,000 | $370,000 | $59,000 | $220,000 |
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 | 683 | $117,361,000 | $171,000 | $588,000 | $71,000 | $1,105,000 |
| Black or African American | 414 | $65,674,000 | $158,000 | $1,100,000 | $52,000 | $280,000 |
| Not Provided | 244 | $37,973,000 | $155,000 | $417,000 | $56,000 | $553,000 |
| Hispanic | 39 | $6,259,000 | $160,000 | $417,000 | $54,000 | $180,000 |
| Asian | 11 | $2,059,000 | $187,000 | $354,000 | $67,000 | $204,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $1,394,000 | $199,000 | $287,000 | $60,000 | $124,000 |
| American Indian or Alaskan Native | 5 | $1,012,000 | $202,000 | $291,000 | $57,000 | $126,000 |
| 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) | 926 | $141,399,000 | $152,000 | $457,000 | $49,000 | $203,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 470 | $89,150,000 | $189,000 | $1,100,000 | $88,000 | $1,105,000 |
| VA-guaranteed (Veterans Administration) | 7 | $1,183,000 | $169,000 | $332,000 | $79,000 | $193,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 824 | $133,905,000 | $162,000 | $1,100,000 | $63,000 | $553,000 |
| Application Withdrawn By Applicant | 342 | $58,446,000 | $170,000 | $588,000 | $63,000 | $772,000 |
| Application Denied By Financial Institution | 201 | $33,172,000 | $165,000 | $417,000 | $59,000 | $1,105,000 |
| Application Approved But Not Accepted | 32 | $5,043,000 | $157,000 | $399,000 | $62,000 | $442,000 |
| File Closed For Incompleteness | 3 | $904,000 | $301,000 | $417,000 | $63,000 | $110,000 |
| Preapproval Denied by Financial Institution | 1 | $262,000 | $262,000 | $262,000 | $108,000 | $108,000 |
| 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 | 21 | $3,406,000 | $162,000 | $292,000 | $44,000 | $78,000 |
| Credit History | 18 | $2,405,000 | $133,000 | $184,000 | $30,000 | $101,000 |
| Credit Application Incomplete | 12 | $1,636,000 | $136,000 | $194,000 | $41,000 | $78,000 |
| Collateral | 11 | $1,377,000 | $125,000 | $182,000 | $54,000 | $121,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $550,000 | $183,000 | $278,000 | $55,000 | $86,000 |
| Unverifiable Information | 3 | $562,000 | $187,000 | $239,000 | $15,000 | $46,000 |
| Other | 1 | $255,000 | $255,000 | $255,000 | $36,000 | $36,000 |
| Employment History | 1 | $86,000 | $86,000 | $86,000 | $58,000 | $58,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mid-Atlantic Financial Service'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 Mid-Atlantic Financial Service'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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