Milo Credit, LLC Mortgage Lending & HMDA Data, 2023
In 2023, Milo Credit, LLC of Miami, FL reported 116 mortgage applications totaling $71.8 million. The average application was for $619,051, and applicants reported an average income of $146,706. 31% of its applications resulted in an originated loan and 20% were denied. Its largest markets were Miami-Miami Beach-Kendall, FL (27), West Palm Beach-Boca Raton-Delray Beach, FL (10) and Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (6) (applications in parentheses).
| Mortgage Company & Address | Milo Credit, LLC 545 Nw 26th St Suite 200 Miami, FL 33127 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2023 |
| Total Number of Mortgage Applications | 116 |
| Total Mortgage Loan Application Amount | $71,810,000 |
| Average Mortgage Loan Application Amount | $619,051 |
| Highest Mortgage Loan Application Amount | $10,005,000 |
| Average Applicant Income | $146,706 |
| Highest Applicant Income | $4,241,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Milo Credit, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Milo Credit, LLC in 2023
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 | 72 | $36,410,000 | $505,000 | $2,925,000 | $117,000 | $1,467,000 |
| Cash-out Refinancing | 37 | $32,575,000 | $880,000 | $10,005,000 | $218,000 | $4,241,000 |
| Refinancing | 6 | $2,320,000 | $386,000 | $575,000 | $88,000 | $240,000 |
| Other Purpose | 1 | $505,000 | $505,000 | $505,000 | $0 | $0 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 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 |
|---|---|---|---|---|---|---|
| Not Provided | 105 | $54,285,000 | $517,000 | $2,925,000 | $104,000 | $1,467,000 |
| Hispanic | 8 | $6,380,000 | $797,000 | $2,505,000 | $569,000 | $4,241,000 |
| White | 2 | $10,610,000 | $5,305,000 | $10,005,000 | $502,000 | $502,000 |
| Asian | 1 | $535,000 | $535,000 | $535,000 | $0 | $0 |
| Black or African American | 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 |
| American Indian or Alaskan Native | 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) | 114 | $70,790,000 | $620,000 | $10,005,000 | $141,000 | $4,241,000 |
| FHA-insured (Federal Housing Administration) | 2 | $1,020,000 | $510,000 | $515,000 | $131,000 | $131,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 46 | $18,680,000 | $406,000 | $1,645,000 | $76,000 | $648,000 |
| Loan Originated | 36 | $21,030,000 | $584,000 | $2,925,000 | $244,000 | $4,241,000 |
| Application Denied By Financial Institution | 23 | $24,385,000 | $1,060,000 | $10,005,000 | $103,000 | $1,120,000 |
| File Closed For Incompleteness | 6 | $5,700,000 | $950,000 | $2,375,000 | $161,000 | $702,000 |
| Application Approved But Not Accepted | 5 | $2,015,000 | $403,000 | $695,000 | $120,000 | $502,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 93 | $47,425,000 | $509,000 | $2,925,000 | $148,000 | $4,241,000 |
| Collateral | 14 | $6,880,000 | $491,000 | $2,005,000 | $2,000 | $21,000 |
| Other | 4 | $4,620,000 | $1,155,000 | $1,505,000 | $563,000 | $1,120,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $2,230,000 | $1,115,000 | $1,655,000 | $207,000 | $415,000 |
| Unverifiable Information | 1 | $10,005,000 | $10,005,000 | $10,005,000 | $0 | $0 |
| Credit Application Incomplete | 1 | $565,000 | $565,000 | $565,000 | $0 | $0 |
| Employment History | 1 | $85,000 | $85,000 | $85,000 | $100,000 | $100,000 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Milo Credit, LLC's 2023 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 Milo Credit, LLC'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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