Mortgage 1 Incorporated Mortgage Lending & HMDA Data, 2019
In 2019, Mortgage 1 Incorporated of Sterling Heights, MI reported 8,838 mortgage applications totaling $1.6 billion, up 7% from 2018. The average application was for $176,913, and applicants reported an average income of $80,025. 80% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (3,099), Detroit-Dearborn-Livonia, MI (1,629) and Grand Rapids-Wyoming, MI (877) (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 | 8,838 |
| Total Mortgage Loan Application Amount | $1,563,560,000 |
| Average Mortgage Loan Application Amount | $176,913 |
| Highest Mortgage Loan Application Amount | $2,255,000 |
| Average Applicant Income | $80,025 |
| Highest Applicant Income | $4,163,000 |
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(HMDA) records Mortgage 1 Incorporated filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2019
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 | 6,539 | $1,101,555,000 | $168,000 | $2,255,000 | $74,000 | $1,267,000 |
| Refinancing | 1,751 | $370,305,000 | $211,000 | $1,355,000 | $101,000 | $4,163,000 |
| Cash-out Refinancing | 524 | $87,600,000 | $167,000 | $815,000 | $85,000 | $500,000 |
| Home Improvement | 21 | $3,325,000 | $158,000 | $285,000 | $77,000 | $183,000 |
| Not Applicable | 3 | $775,000 | $258,000 | $375,000 | $124,000 | $246,000 |
| Other Purpose | 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 | 7,590 | $1,362,440,000 | $179,000 | $2,255,000 | $81,000 | $4,163,000 |
| Black or African American | 580 | $82,500,000 | $142,000 | $545,000 | $59,000 | $333,000 |
| Not Provided | 291 | $50,585,000 | $173,000 | $875,000 | $77,000 | $1,267,000 |
| Hispanic | 235 | $39,505,000 | $168,000 | $565,000 | $73,000 | $641,000 |
| Asian | 119 | $24,305,000 | $204,000 | $485,000 | $84,000 | $381,000 |
| American Indian or Alaskan Native | 14 | $2,180,000 | $155,000 | $305,000 | $83,000 | $408,000 |
| Not applicable | 6 | $1,340,000 | $223,000 | $445,000 | $82,000 | $214,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 5,689 | $1,079,245,000 | $189,000 | $2,255,000 | $92,000 | $4,163,000 |
| FHA-insured (Federal Housing Administration) | 2,435 | $355,275,000 | $145,000 | $2,165,000 | $57,000 | $408,000 |
| VA-guaranteed (Veterans Administration) | 426 | $88,640,000 | $208,000 | $625,000 | $62,000 | $268,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 288 | $40,400,000 | $140,000 | $345,000 | $50,000 | $104,000 |
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 | 7,091 | $1,233,845,000 | $174,000 | $1,175,000 | $80,000 | $4,163,000 |
| Application Withdrawn By Applicant | 1,162 | $229,760,000 | $197,000 | $2,255,000 | $84,000 | $1,513,000 |
| Application Approved But Not Accepted | 325 | $56,245,000 | $173,000 | $2,255,000 | $73,000 | $601,000 |
| Application Denied By Financial Institution | 153 | $25,865,000 | $169,000 | $1,305,000 | $65,000 | $360,000 |
| Preapproval Approved but not Accepted | 44 | $7,510,000 | $170,000 | $575,000 | $65,000 | $255,000 |
| Preapproval Denied by Financial Institution | 36 | $5,540,000 | $153,000 | $465,000 | $45,000 | $157,000 |
| File Closed For Incompleteness | 27 | $4,795,000 | $177,000 | $485,000 | $84,000 | $335,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 8,649 | $1,532,155,000 | $177,000 | $2,255,000 | $80,000 | $4,163,000 |
| Debt-To-Income Ratio | 64 | $12,970,000 | $202,000 | $1,305,000 | $53,000 | $258,000 |
| Credit History | 42 | $6,810,000 | $162,000 | $455,000 | $66,000 | $180,000 |
| Collateral | 32 | $4,600,000 | $143,000 | $305,000 | $82,000 | $264,000 |
| Other | 31 | $4,255,000 | $137,000 | $435,000 | $64,000 | $360,000 |
| Employment History | 10 | $1,420,000 | $142,000 | $245,000 | $34,000 | $105,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 7 | $1,035,000 | $147,000 | $235,000 | $54,000 | $91,000 |
| Unverifiable Information | 2 | $200,000 | $100,000 | $115,000 | $35,000 | $46,000 |
| Credit Application Incomplete | 1 | $115,000 | $115,000 | $115,000 | $25,000 | $25,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mortgage 1 Incorporated's 2019 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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