Mortgage 1 Incorporated Mortgage Lending & HMDA Data, 2016
In 2016, Mortgage 1 Incorporated of Sterling Heights, MI reported 9,411 mortgage applications totaling $1.5 billion, up 8% from 2015. The average application was for $160,799, and applicants reported an average income of $75,771. 82% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (4,161), Detroit-Dearborn-Livonia, MI (1,583) and Grand Rapids-Wyoming, MI (891) (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 | 9,411 |
| Total Mortgage Loan Application Amount | $1,513,281,000 |
| Average Mortgage Loan Application Amount | $160,799 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $75,771 |
| Highest Applicant Income | $2,690,000 |
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(HMDA) records Mortgage 1 Incorporated filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2016
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 | 6,942 | $1,051,806,000 | $151,000 | $1,274,000 | $70,000 | $2,690,000 |
| Refinancing | 2,469 | $461,475,000 | $186,000 | $1,500,000 | $92,000 | $2,419,000 |
| 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 | 8,220 | $1,331,040,000 | $161,000 | $1,500,000 | $77,000 | $2,690,000 |
| Black or African American | 485 | $66,255,000 | $136,000 | $468,000 | $58,000 | $441,000 |
| Hispanic | 333 | $50,237,000 | $150,000 | $417,000 | $61,000 | $480,000 |
| Not Provided | 217 | $36,413,000 | $167,000 | $1,500,000 | $86,000 | $2,419,000 |
| Asian | 125 | $23,958,000 | $191,000 | $591,000 | $90,000 | $525,000 |
| American Indian or Alaskan Native | 20 | $2,982,000 | $149,000 | $350,000 | $72,000 | $165,000 |
| Native Hawaiin or Other Pacific Islander | 11 | $2,396,000 | $217,000 | $396,000 | $80,000 | $185,000 |
| 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) | 5,105 | $921,664,000 | $180,000 | $1,500,000 | $95,000 | $2,690,000 |
| FHA-insured (Federal Housing Administration) | 3,446 | $461,489,000 | $133,000 | $304,000 | $53,000 | $412,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 431 | $55,170,000 | $128,000 | $356,000 | $46,000 | $109,000 |
| VA-guaranteed (Veterans Administration) | 429 | $74,958,000 | $174,000 | $426,000 | $62,000 | $328,000 |
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 | 7,685 | $1,232,297,000 | $160,000 | $910,000 | $76,000 | $2,690,000 |
| Application Withdrawn By Applicant | 1,158 | $190,997,000 | $164,000 | $1,500,000 | $78,000 | $2,419,000 |
| Application Approved But Not Accepted | 284 | $46,335,000 | $163,000 | $1,500,000 | $79,000 | $840,000 |
| Application Denied By Financial Institution | 233 | $35,551,000 | $152,000 | $866,000 | $61,000 | $414,000 |
| File Closed For Incompleteness | 45 | $7,130,000 | $158,000 | $500,000 | $70,000 | $187,000 |
| Preapproval Denied by Financial Institution | 4 | $553,000 | $138,000 | $190,000 | $84,000 | $191,000 |
| Preapproval Approved but not Accepted | 2 | $418,000 | $209,000 | $238,000 | $66,000 | $80,000 |
| 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 | 73 | $12,327,000 | $168,000 | $866,000 | $61,000 | $324,000 |
| Collateral | 51 | $6,725,000 | $131,000 | $325,000 | $64,000 | $203,000 |
| Credit History | 45 | $6,164,000 | $136,000 | $293,000 | $60,000 | $162,000 |
| Other | 29 | $4,774,000 | $164,000 | $865,000 | $78,000 | $414,000 |
| Employment History | 23 | $3,588,000 | $156,000 | $333,000 | $44,000 | $130,000 |
| Unverifiable Information | 5 | $936,000 | $187,000 | $389,000 | $48,000 | $73,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $429,000 | $107,000 | $153,000 | $53,000 | $60,000 |
| Credit Application Incomplete | 2 | $358,000 | $179,000 | $215,000 | $75,000 | $78,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mortgage 1 Incorporated's 2016 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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