Mortgage 1 Incorporated Mortgage Lending & HMDA Data, 2020
In 2020, Mortgage 1 Incorporated of Sterling Heights, MI reported 14,103 mortgage applications totaling $2.8 billion, up 60% from 2019. The average application was for $196,261, and applicants reported an average income of $87,849. 82% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (5,630), Detroit-Dearborn-Livonia, MI (2,083) and Grand Rapids-Wyoming, MI (1,362) (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 | 14,103 |
| Total Mortgage Loan Application Amount | $2,767,875,000 |
| Average Mortgage Loan Application Amount | $196,261 |
| Highest Mortgage Loan Application Amount | $1,505,000 |
| Average Applicant Income | $87,849 |
| Highest Applicant Income | $5,038,000 |
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(HMDA) records Mortgage 1 Incorporated filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2020
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 | 7,403 | $1,397,145,000 | $188,000 | $935,000 | $77,000 | $5,038,000 |
| Refinancing | 4,654 | $970,690,000 | $208,000 | $1,255,000 | $98,000 | $1,537,000 |
| Cash-out Refinancing | 2,038 | $398,450,000 | $195,000 | $1,505,000 | $104,000 | $2,068,000 |
| Home Improvement | 8 | $1,590,000 | $198,000 | $335,000 | $108,000 | $330,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 12,029 | $2,372,655,000 | $197,000 | $1,505,000 | $89,000 | $5,038,000 |
| Not Provided | 688 | $136,660,000 | $198,000 | $1,255,000 | $94,000 | $2,068,000 |
| Black or African American | 637 | $107,345,000 | $168,000 | $935,000 | $68,000 | $804,000 |
| Hispanic | 469 | $88,155,000 | $187,000 | $705,000 | $69,000 | $641,000 |
| Asian | 234 | $54,830,000 | $234,000 | $545,000 | $97,000 | $444,000 |
| American Indian or Alaskan Native | 31 | $4,805,000 | $155,000 | $325,000 | $73,000 | $200,000 |
| Not applicable | 7 | $1,835,000 | $262,000 | $455,000 | $93,000 | $202,000 |
| Native Hawaiian or Other Pacific Islander | 6 | $1,060,000 | $176,000 | $305,000 | $66,000 | $109,000 |
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) | 10,433 | $2,132,955,000 | $204,000 | $1,505,000 | $99,000 | $5,038,000 |
| FHA-insured (Federal Housing Administration) | 2,670 | $437,140,000 | $163,000 | $455,000 | $56,000 | $338,000 |
| VA-guaranteed (Veterans Administration) | 576 | $131,280,000 | $227,000 | $905,000 | $59,000 | $804,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 424 | $66,500,000 | $156,000 | $455,000 | $46,000 | $100,000 |
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 | 11,596 | $2,269,980,000 | $195,000 | $905,000 | $88,000 | $1,537,000 |
| Application Withdrawn By Applicant | 1,575 | $324,735,000 | $206,000 | $835,000 | $89,000 | $2,068,000 |
| Application Approved But Not Accepted | 578 | $104,600,000 | $180,000 | $925,000 | $94,000 | $5,038,000 |
| Application Denied By Financial Institution | 226 | $44,030,000 | $194,000 | $935,000 | $66,000 | $610,000 |
| File Closed For Incompleteness | 82 | $17,820,000 | $217,000 | $1,505,000 | $81,000 | $338,000 |
| Preapproval Approved but not Accepted | 32 | $4,510,000 | $140,000 | $315,000 | $50,000 | $109,000 |
| Preapproval Denied by Financial Institution | 14 | $2,200,000 | $157,000 | $455,000 | $33,000 | $60,000 |
| 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 | 13,863 | $2,721,645,000 | $196,000 | $1,505,000 | $88,000 | $5,038,000 |
| Debt-To-Income Ratio | 95 | $20,095,000 | $211,000 | $935,000 | $49,000 | $312,000 |
| Credit History | 45 | $7,005,000 | $155,000 | $385,000 | $62,000 | $153,000 |
| Collateral | 42 | $8,790,000 | $209,000 | $555,000 | $104,000 | $610,000 |
| Other | 27 | $3,655,000 | $135,000 | $255,000 | $57,000 | $144,000 |
| Employment History | 14 | $2,640,000 | $188,000 | $505,000 | $39,000 | $113,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 6 | $1,040,000 | $173,000 | $295,000 | $70,000 | $151,000 |
| Credit Application Incomplete | 6 | $1,940,000 | $323,000 | $725,000 | $158,000 | $413,000 |
| Unverifiable Information | 5 | $1,065,000 | $213,000 | $305,000 | $53,000 | $98,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mortgage 1 Incorporated's 2020 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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