Mortgage Master Service Corp Mortgage Lending & HMDA Data, 2005
In 2005, Mortgage Master Service Corp of Kent, WA reported 1,162 mortgage applications totaling $231.5 million, up 11% from 2004. The average application was for $199,195, and applicants reported an average income of $102,107. 81% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Seattle-Bellevue-Everett, WA (795), Tacoma, WA (229) and Olympia, WA (10) (applications in parentheses).
| Mortgage Company & Address | Mortgage Master Service Corp 24909 104th Avenue Southeast #100 Kent, WA 98030 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,162 |
| Total Mortgage Loan Application Amount | $231,465,000 |
| Average Mortgage Loan Application Amount | $199,195 |
| Highest Mortgage Loan Application Amount | $1,680,000 |
| Average Applicant Income | $102,107 |
| Highest Applicant Income | $2,092,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mortgage Master Service Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Master Service Corp in 2005
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 | 638 | $124,036,000 | $321,375 | $1,300,000 | $339,250 | $2,092,000 |
| Refinancing | 524 | $107,429,000 | $193,333 | $1,680,000 | $56,833 | $1,058,000 |
| 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 | 1,022 | $204,678,000 | $312,222 | $1,680,000 | $290,222 | $2,092,000 |
| Asian | 72 | $13,144,000 | $221,500 | $400,000 | $77,000 | $247,000 |
| Hispanic | 29 | $5,896,000 | $175,500 | $428,000 | $79,000 | $174,000 |
| Native Hawaiian or Other Pacific Islander | 16 | $2,692,000 | $168,000 | $344,000 | $74,000 | $131,000 |
| Black or African American | 16 | $3,422,000 | $198,000 | $468,000 | $90,000 | $450,000 |
| American Indian or Alaskan Native | 7 | $1,633,000 | $233,000 | $600,000 | $193,000 | $720,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 1,088 | $217,276,000 | $300,300 | $1,680,000 | $269,500 | $2,092,000 |
| FHA-insured (Federal Housing Administration) | 60 | $11,344,000 | $174,000 | $310,000 | $58,000 | $216,000 |
| VA-guaranteed (Veterans Administration) | 14 | $2,845,000 | $203,000 | $280,000 | $61,000 | $154,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 945 | $192,156,000 | $317,888 | $1,500,000 | $301,444 | $2,092,000 |
| Application Withdrawn By Applicant | 123 | $21,821,000 | $156,500 | $800,000 | $66,000 | $950,000 |
| Application Approved But Not Accepted | 33 | $5,671,000 | $171,000 | $675,000 | $125,000 | $368,000 |
| Preapproval Approved but not Accepted | 21 | $4,055,000 | $193,000 | $320,000 | $69,000 | $155,000 |
| Application Denied By Financial Institution | 20 | $2,394,000 | $119,000 | $308,000 | $80,000 | $360,000 |
| File Closed For Incompleteness | 19 | $5,194,000 | $273,000 | $1,680,000 | $117,000 | $439,000 |
| Preapproval Denied by Financial Institution | 1 | $174,000 | $174,000 | $174,000 | $36,000 | $36,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 6 | $531,000 | $88,000 | $150,000 | $70,000 | $141,000 |
| Debt-To-Income Ratio | 4 | $582,000 | $145,000 | $308,000 | $53,000 | $98,000 |
| Collateral | 4 | $547,000 | $136,000 | $200,000 | $133,000 | $360,000 |
| Unverifiable Information | 4 | $550,000 | $149,500 | $176,000 | $44,000 | $63,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mortgage Master Service Corp's 2005 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 Master Service Corp'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.
For a list of all lenders in Washington, download the full spreadsheet
with aggregated HMDA statistics today.
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