Monarch Home Funding, LLC Mortgage Lending & HMDA Data, 2006
In 2006, Monarch Home Funding, LLC of Chesapeake, VA reported 295 mortgage applications totaling $70.5 million, down 9% from 2005. The average application was for $238,976, and applicants reported an average income of $115,322. 81% of its applications resulted in an originated loan and 1% were denied. Its largest market was Virginia Beach-Norfolk-Newport News, VA-NC (269).
| Mortgage Company & Address | Monarch Home Funding, LLC 750 Volvo Parkway Chesapeake, VA 23320 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 295 |
| Total Mortgage Loan Application Amount | $70,498,000 |
| Average Mortgage Loan Application Amount | $238,976 |
| Highest Mortgage Loan Application Amount | $1,219,000 |
| Average Applicant Income | $115,322 |
| Highest Applicant Income | $1,100,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Monarch Home Funding, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Virginia Beach, Virginia | 96 | $ 25,424,000 | $ 264,833 | $ 99,000 |
| Chesapeake, Virginia | 69 | $ 15,162,000 | $ 219,739 | $ 97,000 |
| Norfolk, Virginia | 59 | $ 13,340,000 | $ 226,101 | $ 119,000 |
| Suffolk, Virginia | 18 | $ 4,321,000 | $ 240,055 | $ 84,000 |
| Portsmouth, Virginia | 12 | $ 1,846,000 | $ 153,833 | $ 107,000 |
| Dare, North Carolina | 9 | $ 2,762,000 | $ 306,888 | $ 274,000 |
| Isle of Wight, Virginia | 8 | $ 1,872,000 | $ 234,000 | $ 73,000 |
| Currituck, North Carolina | 4 | $ 1,134,000 | $ 283,500 | $ 71,000 |
| Accomack, Virginia | 3 | $ 409,000 | $ 136,333 | $ 101,000 |
| Carroll, New Hampshire | 2 | $ 748,000 | $ 374,000 | $ 1,100,000 |
| Franklin City, Virginia | 2 | $ 469,000 | $ 234,500 | $ 266,000 |
| Prince George, Virginia | 2 | $ 384,000 | $ 192,000 | $ 123,000 |
| York, Virginia | 2 | $ 278,000 | $ 139,000 | $ 76,000 |
| Camden, North Carolina | 1 | $ 244,000 | $ 244,000 | $ 76,000 |
| Gates, North Carolina | 1 | $ 242,000 | $ 242,000 | $ 79,000 |
| Perquimans, North Carolina | 1 | $ 298,000 | $ 298,000 | $ 56,000 |
| Davis, Utah | 1 | $ 171,000 | $ 171,000 | $ 0 |
| James City, Virginia | 1 | $ 309,000 | $ 309,000 | $ 260,000 |
| Northampton, Virginia | 1 | $ 175,000 | $ 175,000 | $ 73,000 |
| Northumberland, Virginia | 1 | $ 438,000 | $ 438,000 | $ 492,000 |
| Richmond City, Virginia | 1 | $ 305,000 | $ 305,000 | $ 117,000 |
| Southampton, Virginia | 1 | $ 167,000 | $ 167,000 | $ 29,000 |
Mortgage Loan Application Detail Totals for Monarch Home Funding, LLC in 2006
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 | 153 | $33,979,000 | $222,000 | $1,219,000 | $116,000 | $1,100,000 |
| Refinancing | 141 | $36,262,000 | $257,000 | $1,100,000 | $115,000 | $954,000 |
| Home Improvement | 1 | $257,000 | $257,000 | $257,000 | $57,000 | $57,000 |
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 | 242 | $61,856,000 | $255,000 | $1,219,000 | $126,000 | $1,100,000 |
| Black or African American | 34 | $4,886,000 | $143,000 | $500,000 | $65,000 | $238,000 |
| Hispanic | 7 | $1,794,000 | $256,000 | $416,000 | $97,000 | $200,000 |
| Asian | 7 | $1,059,000 | $151,000 | $331,000 | $70,000 | $168,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $372,000 | $124,000 | $152,000 | $0 | $0 |
| American Indian or Alaskan Native | 2 | $531,000 | $265,000 | $335,000 | $81,000 | $95,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 258 | $62,947,000 | $243,000 | $1,219,000 | $122,000 | $1,100,000 |
| VA-guaranteed (Veterans Administration) | 26 | $5,487,000 | $211,000 | $325,000 | $74,000 | $545,000 |
| FHA-insured (Federal Housing Administration) | 11 | $2,064,000 | $187,000 | $289,000 | $62,000 | $102,000 |
| 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 | 240 | $58,483,000 | $243,000 | $1,100,000 | $123,000 | $1,100,000 |
| Application Withdrawn By Applicant | 52 | $11,539,000 | $221,000 | $1,219,000 | $86,000 | $694,000 |
| Application Denied By Financial Institution | 3 | $476,000 | $158,000 | $204,000 | $22,000 | $67,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| 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 Application Incomplete | 1 | $204,000 | $204,000 | $204,000 | $67,000 | $67,000 |
| Employment History | 1 | $171,000 | $171,000 | $171,000 | $0 | $0 |
| Other | 1 | $101,000 | $101,000 | $101,000 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Monarch Home Funding, LLC's 2006 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 Monarch Home Funding, 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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