Morgan Stanley Credit Corp Mortgage Lending & HMDA Data, 2005
In 2005, Morgan Stanley Credit Corp of Vernon Hills, IL reported 17,092 mortgage applications totaling $5.5 billion, down 12% from 2004. The average application was for $323,048, and applicants reported an average income of $138,852. 59% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (466), New York-Wayne-White Plains, NY-NJ (458) and Phoenix-Mesa-Scottsdale, AZ (419) (applications in parentheses).
| Mortgage Company & Address | Morgan Stanley Credit Corp 75 N. Fairway Drive Vernon Hills, IL 60061 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 17,092 |
| Total Mortgage Loan Application Amount | $5,521,541,000 |
| Average Mortgage Loan Application Amount | $323,048 |
| Highest Mortgage Loan Application Amount | $11,000,000 |
| Average Applicant Income | $138,852 |
| Highest Applicant Income | $9,999,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Morgan Stanley Credit Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Morgan Stanley Credit Corp in 2005
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 | 10,358 | $3,277,245,000 | $272,705 | $10,000,000 | $124,901 | $9,999,000 |
| Home Purchase | 5,453 | $1,960,450,000 | $291,692 | $11,000,000 | $162,211 | $9,999,000 |
| Home Improvement | 1,281 | $283,846,000 | $183,540 | $3,000,000 | $107,960 | $3,007,000 |
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 |
|---|---|---|---|---|---|---|
| Not Provided | 10,030 | $3,317,898,000 | $271,461 | $11,000,000 | $133,826 | $9,999,000 |
| White | 6,613 | $2,060,391,000 | $267,846 | $6,000,000 | $128,326 | $9,999,000 |
| Black or African American | 151 | $45,378,000 | $267,677 | $2,960,000 | $246,870 | $2,900,000 |
| Asian | 138 | $55,016,000 | $347,863 | $2,800,000 | $169,772 | $1,636,000 |
| Hispanic | 126 | $33,621,000 | $326,086 | $2,480,000 | $174,956 | $6,000,000 |
| American Indian or Alaskan Native | 22 | $5,978,000 | $239,000 | $1,600,000 | $111,750 | $325,000 |
| Native Hawaiian or Other Pacific Islander | 12 | $3,259,000 | $281,000 | $955,000 | $111,428 | $319,000 |
| 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) | 17,092 | $5,521,541,000 | $269,000 | $11,000,000 | $132,461 | $9,999,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 10,059 | $3,031,506,000 | $264,274 | $10,000,000 | $138,921 | $9,999,000 |
| Application Withdrawn By Applicant | 1,967 | $775,813,000 | $303,180 | $5,800,000 | $170,280 | $7,394,000 |
| Application Approved But Not Accepted | 1,740 | $520,902,000 | $245,795 | $5,000,000 | $130,408 | $3,887,000 |
| Application Denied By Financial Institution | 1,632 | $504,793,000 | $260,428 | $11,000,000 | $96,775 | $5,000,000 |
| Preapproval Approved but not Accepted | 1,531 | $632,451,000 | $413,000 | $3,000,000 | $129,000 | $4,145,000 |
| Preapproval Denied by Financial Institution | 163 | $56,076,000 | $344,000 | $2,740,000 | $95,000 | $1,132,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 646 | $228,340,000 | $293,311 | $3,000,000 | $70,377 | $1,388,000 |
| Credit History | 483 | $112,402,000 | $187,363 | $6,000,000 | $75,704 | $3,100,000 |
| Credit Application Incomplete | 280 | $117,453,000 | $342,214 | $11,000,000 | $137,952 | $5,000,000 |
| Collateral | 185 | $50,335,000 | $283,047 | $2,000,000 | $132,595 | $610,000 |
| Other | 115 | $31,278,000 | $250,593 | $4,675,000 | $113,656 | $662,000 |
| Unverifiable Information | 48 | $12,313,000 | $221,818 | $850,000 | $89,090 | $350,000 |
| Employment History | 25 | $5,960,000 | $219,307 | $557,000 | $81,923 | $199,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 13 | $2,788,000 | $194,857 | $440,000 | $110,285 | $362,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Morgan Stanley Credit Corp's 2005 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 Morgan Stanley Credit Corp'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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