Mid-Atlantic Financial Service Mortgage Lending & HMDA Data, 2007
In 2007, Mid-Atlantic Financial Service of Atlanta, GA reported 1,018 mortgage applications totaling $157.0 million, down 58% from 2006. The average application was for $154,182, and applicants reported an average income of $60,850. 70% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (618), Charlotte-Gastonia-Concord, NC-SC (41) and Jacksonville, FL (33) (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 | 1,018 |
| Total Mortgage Loan Application Amount | $156,958,000 |
| Average Mortgage Loan Application Amount | $154,182 |
| Highest Mortgage Loan Application Amount | $848,000 |
| Average Applicant Income | $60,850 |
| Highest Applicant Income | $573,000 |
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records Mid-Atlantic Financial Service filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 |
|---|---|---|---|---|---|---|
| Refinancing | 644 | $96,200,000 | $149,000 | $848,000 | $57,000 | $573,000 |
| Home Purchase | 327 | $55,011,000 | $168,000 | $635,000 | $71,000 | $465,000 |
| Home Improvement | 47 | $5,747,000 | $122,000 | $405,000 | $43,000 | $111,000 |
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 |
|---|---|---|---|---|---|---|
| Black or African American | 397 | $53,213,000 | $134,000 | $417,000 | $47,000 | $465,000 |
| White | 380 | $63,259,000 | $166,000 | $635,000 | $71,000 | $450,000 |
| Not Provided | 204 | $34,006,000 | $166,000 | $848,000 | $69,000 | $573,000 |
| Hispanic | 18 | $2,647,000 | $147,000 | $271,000 | $51,000 | $95,000 |
| Asian | 9 | $2,428,000 | $269,000 | $604,000 | $79,000 | $198,000 |
| American Indian or Alaskan Native | 5 | $792,000 | $158,000 | $251,000 | $85,000 | $192,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $613,000 | $122,000 | $190,000 | $76,000 | $131,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 613 | $101,370,000 | $165,000 | $848,000 | $73,000 | $573,000 |
| FHA-insured (Federal Housing Administration) | 398 | $54,646,000 | $137,000 | $288,000 | $44,000 | $127,000 |
| VA-guaranteed (Veterans Administration) | 7 | $942,000 | $134,000 | $170,000 | $39,000 | $71,000 |
| 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 | 711 | $110,584,000 | $155,000 | $848,000 | $62,000 | $465,000 |
| Application Denied By Financial Institution | 195 | $27,449,000 | $140,000 | $610,000 | $52,000 | $220,000 |
| Application Withdrawn By Applicant | 82 | $13,633,000 | $166,000 | $624,000 | $71,000 | $573,000 |
| Application Approved But Not Accepted | 25 | $4,179,000 | $167,000 | $604,000 | $80,000 | $251,000 |
| Loan Purchased By The Institution | 3 | $810,000 | $270,000 | $492,000 | $80,000 | $100,000 |
| File Closed For Incompleteness | 2 | $303,000 | $151,000 | $187,000 | $48,000 | $53,000 |
| 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 | 37 | $5,089,000 | $137,000 | $280,000 | $43,000 | $189,000 |
| Debt-To-Income Ratio | 33 | $4,714,000 | $142,000 | $267,000 | $42,000 | $100,000 |
| Collateral | 16 | $1,771,000 | $110,000 | $219,000 | $38,000 | $98,000 |
| Credit Application Incomplete | 8 | $973,000 | $121,000 | $202,000 | $46,000 | $108,000 |
| Employment History | 7 | $914,000 | $130,000 | $257,000 | $66,000 | $104,000 |
| Other | 4 | $465,000 | $116,000 | $128,000 | $27,000 | $56,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $892,000 | $297,000 | $610,000 | $95,000 | $220,000 |
| Unverifiable Information | 2 | $310,000 | $155,000 | $270,000 | $54,000 | $92,000 |
| Mortgage Insurance Denied | 1 | $217,000 | $217,000 | $217,000 | $96,000 | $96,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mid-Atlantic Financial Service'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 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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