Mortgage 1 Incorporated Mortgage Lending & HMDA Data, 2013
In 2013, Mortgage 1 Incorporated of Sterling Heights, MI reported 8,323 mortgage applications totaling $1.2 billion, up 28% from 2012. The average application was for $141,385, and applicants reported an average income of $70,172. 73% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (4,204), Detroit-Livonia-Dearborn, MI (1,318) and Grand Rapids-Wyoming, MI (591) (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 | 8,323 |
| Total Mortgage Loan Application Amount | $1,176,752,000 |
| Average Mortgage Loan Application Amount | $141,385 |
| Highest Mortgage Loan Application Amount | $840,000 |
| Average Applicant Income | $70,172 |
| Highest Applicant Income | $1,053,000 |
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(HMDA) records Mortgage 1 Incorporated filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2013
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 | 6,268 | $835,726,000 | $133,000 | $840,000 | $64,000 | $1,053,000 |
| Refinancing | 2,055 | $341,026,000 | $165,000 | $750,000 | $89,000 | $1,032,000 |
| 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 | 7,449 | $1,052,995,000 | $141,000 | $840,000 | $71,000 | $1,053,000 |
| Black or African American | 338 | $41,095,000 | $121,000 | $413,000 | $58,000 | $203,000 |
| Not Provided | 205 | $28,549,000 | $139,000 | $417,000 | $57,000 | $1,032,000 |
| Hispanic | 160 | $20,627,000 | $128,000 | $392,000 | $59,000 | $337,000 |
| Asian | 152 | $30,860,000 | $203,000 | $567,000 | $98,000 | $502,000 |
| Native Hawaiian or Other Pacific Islander | 11 | $1,692,000 | $153,000 | $333,000 | $68,000 | $133,000 |
| American Indian or Alaskan Native | 8 | $934,000 | $116,000 | $182,000 | $50,000 | $78,000 |
| 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) | 3,977 | $650,631,000 | $163,000 | $840,000 | $90,000 | $1,053,000 |
| FHA-insured (Federal Housing Administration) | 3,213 | $387,817,000 | $120,000 | $351,000 | $53,000 | $244,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 781 | $82,397,000 | $105,000 | $315,000 | $42,000 | $110,000 |
| VA-guaranteed (Veterans Administration) | 352 | $55,907,000 | $158,000 | $437,000 | $64,000 | $212,000 |
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 | 6,076 | $850,397,000 | $139,000 | $840,000 | $69,000 | $1,053,000 |
| Application Withdrawn By Applicant | 1,622 | $238,511,000 | $147,000 | $725,000 | $75,000 | $950,000 |
| File Closed For Incompleteness | 389 | $56,532,000 | $145,000 | $422,000 | $73,000 | $1,032,000 |
| Application Denied By Financial Institution | 185 | $24,026,000 | $129,000 | $680,000 | $55,000 | $400,000 |
| Application Approved But Not Accepted | 28 | $3,927,000 | $140,000 | $644,000 | $72,000 | $200,000 |
| Preapproval Denied by Financial Institution | 16 | $2,143,000 | $133,000 | $245,000 | $57,000 | $126,000 |
| Preapproval Approved but not Accepted | 7 | $1,216,000 | $173,000 | $295,000 | $68,000 | $127,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 29 | $3,641,000 | $125,000 | $353,000 | $44,000 | $112,000 |
| Other | 20 | $2,130,000 | $106,000 | $275,000 | $48,000 | $167,000 |
| Credit History | 19 | $2,177,000 | $114,000 | $225,000 | $54,000 | $120,000 |
| Collateral | 11 | $1,241,000 | $112,000 | $278,000 | $50,000 | $110,000 |
| Unverifiable Information | 4 | $403,000 | $100,000 | $158,000 | $47,000 | $55,000 |
| Employment History | 4 | $299,000 | $74,000 | $101,000 | $29,000 | $53,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $54,000 | $54,000 | $54,000 | $25,000 | $25,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mortgage 1 Incorporated's 2013 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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