Mortgage 1 Incorporated Mortgage Lending & HMDA Data, 2009
In 2009, Mortgage 1 Incorporated of Sterling Heights, MI reported 2,299 mortgage applications totaling $343.0 million, up 413% from 2008. The average application was for $149,199, and applicants reported an average income of $65,985. 83% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (1,625), Ann Arbor, MI (203) and Detroit-Livonia-Dearborn, MI (202) (applications in parentheses).
| Mortgage Company & Address | Mortgage 1 Incorporated 43456 Mound Road Sterling Heights, MI 48314 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 2,299 |
| Total Mortgage Loan Application Amount | $343,010,000 |
| Average Mortgage Loan Application Amount | $149,199 |
| Highest Mortgage Loan Application Amount | $534,000 |
| Average Applicant Income | $65,985 |
| Highest Applicant Income | $686,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mortgage 1 Incorporated filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mortgage 1 Incorporated in 2009
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 | 1,386 | $176,401,000 | $127,000 | $534,000 | $64,000 | $507,000 |
| Refinancing | 913 | $166,609,000 | $182,000 | $417,000 | $69,000 | $686,000 |
| Home Improvement | 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 |
|---|---|---|---|---|---|---|
| White | 2,000 | $299,152,000 | $149,000 | $534,000 | $68,000 | $686,000 |
| Not Provided | 107 | $19,199,000 | $179,000 | $417,000 | $48,000 | $274,000 |
| Black or African American | 107 | $11,814,000 | $110,000 | $307,000 | $48,000 | $155,000 |
| Asian | 41 | $6,468,000 | $157,000 | $417,000 | $61,000 | $291,000 |
| Hispanic | 35 | $5,194,000 | $148,000 | $331,000 | $66,000 | $161,000 |
| American Indian or Alaskan Native | 5 | $513,000 | $102,000 | $133,000 | $38,000 | $57,000 |
| Native Hawaiian or Other Pacific Islander | 4 | $670,000 | $167,000 | $220,000 | $64,000 | $156,000 |
| 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) | 1,192 | $150,908,000 | $126,000 | $309,000 | $40,000 | $274,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,013 | $179,855,000 | $177,000 | $534,000 | $98,000 | $686,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 56 | $5,858,000 | $104,000 | $223,000 | $44,000 | $84,000 |
| VA-guaranteed (Veterans Administration) | 38 | $6,389,000 | $168,000 | $419,000 | $42,000 | $152,000 |
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 | 1,904 | $284,613,000 | $149,000 | $419,000 | $65,000 | $686,000 |
| Application Withdrawn By Applicant | 258 | $38,734,000 | $150,000 | $534,000 | $75,000 | $420,000 |
| File Closed For Incompleteness | 66 | $9,452,000 | $143,000 | $384,000 | $64,000 | $216,000 |
| Application Denied By Financial Institution | 54 | $6,968,000 | $129,000 | $355,000 | $61,000 | $200,000 |
| Application Approved But Not Accepted | 17 | $3,243,000 | $190,000 | $360,000 | $80,000 | $196,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 10 | $859,000 | $85,000 | $251,000 | $60,000 | $146,000 |
| Debt-To-Income Ratio | 9 | $1,331,000 | $147,000 | $355,000 | $56,000 | $83,000 |
| Collateral | 8 | $832,000 | $104,000 | $248,000 | $60,000 | $120,000 |
| Credit History | 8 | $654,000 | $81,000 | $116,000 | $34,000 | $46,000 |
| Unverifiable Information | 1 | $290,000 | $290,000 | $290,000 | $38,000 | $38,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $30,000 | $30,000 | $30,000 | $45,000 | $45,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mortgage 1 Incorporated's 2009 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 Mortgage 1 Incorporated'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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