Mortgage Now, Inc. Mortgage Lending & HMDA Data, 2021
In 2021, Mortgage Now, Inc. of Shrewsbury, NJ reported 393 mortgage applications totaling $119.7 million, up 4% from 2020. The average application was for $304,491, and applicants reported an average income of $95,058. 12% of its applications resulted in an originated loan and 14% were denied. Its largest markets were New York-Newark, NY (31), Newark, NJ-PA (25) and New York-Jersey City-White Plains, NY-NJ (23) (applications in parentheses).
| Mortgage Company & Address | Mortgage Now, Inc. 1161 Broad St Suite 212 Shrewsbury, NJ 07702 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2021 2020 2010 2009 |
| Total Number of Mortgage Applications | 393 |
| Total Mortgage Loan Application Amount | $119,665,000 |
| Average Mortgage Loan Application Amount | $304,491 |
| Highest Mortgage Loan Application Amount | $2,135,000 |
| Average Applicant Income | $95,058 |
| Highest Applicant Income | $1,040,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mortgage Now, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| New York-Newark, NY | 31 | $ 9,115,000 | $ 294,032 | $ 91,000 |
| Newark, NJ-PA | 25 | $ 7,305,000 | $ 292,200 | $ 76,000 |
| New York-Jersey City-White Plains, NY-NJ | 23 | $ 9,105,000 | $ 395,869 | $ 112,000 |
| Los Angeles-Long Beach-Glendale, CA | 17 | $ 9,965,000 | $ 586,176 | $ 161,000 |
| Riverside-San Bernardino-Ontario, CA | 14 | $ 4,240,000 | $ 302,857 | $ 89,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 12 | $ 3,160,000 | $ 263,333 | $ 90,000 |
| Outside any metro area | 11 | $ 2,745,000 | $ 249,545 | $ 43,545 |
| Camden, NJ | 10 | $ 2,180,000 | $ 218,000 | $ 80,000 |
| Montgomery County-Bucks County-Chester County, PA | 9 | $ 2,975,000 | $ 330,555 | $ 89,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 8 | $ 1,930,000 | $ 241,250 | $ 89,500 |
| Oakland-Hayward-Berkeley, CA | 7 | $ 3,045,000 | $ 435,000 | $ 156,000 |
| Anaheim-Santa Ana-Irvine, CA | 6 | $ 3,610,000 | $ 601,666 | $ 180,000 |
| Baltimore-Columbia-Towson, MD | 6 | $ 1,610,000 | $ 268,333 | $ 86,000 |
| Pittsburgh, PA | 6 | $ 1,040,000 | $ 173,333 | $ 49,000 |
| Sacramento--Roseville--Arden-Arcade, CA | 6 | $ 1,480,000 | $ 246,666 | $ 65,000 |
| San Diego-Carlsbad, CA | 6 | $ 1,300,000 | $ 216,666 | $ 51,000 |
| Modesto, CA | 5 | $ 1,285,000 | $ 257,000 | $ 54,000 |
| San Francisco-Redwood City-South San Francisco, CA | 5 | $ 2,625,000 | $ 525,000 | $ 143,000 |
| Washington-Baltimore-Arlington, DC | 5 | $ 1,155,000 | $ 231,000 | $ 57,000 |
| Atlantic City-Hammonton, NJ | 3 | $ 405,000 | $ 135,000 | $ 67,000 |
| Philadelphia, PA | 3 | $ 475,000 | $ 158,333 | $ 37,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 3 | $ 455,000 | $ 151,666 | $ 41,000 |
| Reading, PA | 2 | $ 480,000 | $ 240,000 | $ 104,000 |
| Santa Maria-Santa Barbara, CA | 2 | $ 1,350,000 | $ 675,000 | $ 567,000 |
| Trenton, NJ | 2 | $ 630,000 | $ 315,000 | $ 168,000 |
| York-Hanover, PA | 2 | $ 410,000 | $ 205,000 | $ 76,000 |
| Bloomsburg-Berwick, PA | 1 | $ 175,000 | $ 175,000 | $ 54,000 |
| East Stroudsburg, PA | 1 | $ 105,000 | $ 105,000 | $ 0 |
| Fresno, CA | 1 | $ 345,000 | $ 345,000 | $ 0 |
| Gettysburg, PA | 1 | $ 185,000 | $ 185,000 | $ 113,000 |
| Hanford-Corcoran, CA | 1 | $ 235,000 | $ 235,000 | $ 135,000 |
| Harrisburg-Carlisle, PA | 1 | $ 105,000 | $ 105,000 | $ 52,000 |
| Lancaster, PA | 1 | $ 175,000 | $ 175,000 | $ 37,000 |
| Lebanon, PA | 1 | $ 155,000 | $ 155,000 | $ 0 |
| Merced, CA | 1 | $ 125,000 | $ 125,000 | $ 22,000 |
| Ocean City, NJ | 1 | $ 435,000 | $ 435,000 | $ 72,000 |
| Salisbury, MD-DE | 1 | $ 155,000 | $ 155,000 | $ 72,000 |
| San Rafael, CA | 1 | $ 155,000 | $ 155,000 | $ 122,000 |
| Santa Rosa, CA | 1 | $ 475,000 | $ 475,000 | $ 50,000 |
| Scranton--Wilkes-Barre--Hazleton, PA | 1 | $ 145,000 | $ 145,000 | $ 84,000 |
| Stockton-Lodi, CA | 1 | $ 265,000 | $ 265,000 | $ 44,000 |
| Williamsport, PA | 1 | $ 155,000 | $ 155,000 | $ 43,000 |
| Yuba City, CA | 1 | $ 205,000 | $ 205,000 | $ 58,000 |
Mortgage Loan Application Detail Totals for Mortgage Now, Inc. in 2021
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 |
|---|---|---|---|---|---|---|
| Refinancing | 184 | $53,160,000 | $288,000 | $1,695,000 | $101,000 | $1,008,000 |
| Other Purpose | 109 | $35,795,000 | $328,000 | $2,135,000 | $94,000 | $1,040,000 |
| Home Purchase | 56 | $17,670,000 | $315,000 | $755,000 | $82,000 | $292,000 |
| Cash-out Refinancing | 27 | $8,075,000 | $299,000 | $875,000 | $91,000 | $294,000 |
| Home Improvement | 17 | $4,965,000 | $292,000 | $525,000 | $87,000 | $370,000 |
| Not Applicable | 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 |
|---|---|---|---|---|---|---|
| Not Provided | 313 | $89,455,000 | $285,000 | $1,005,000 | $91,000 | $1,008,000 |
| White | 54 | $20,080,000 | $371,000 | $1,715,000 | $105,000 | $404,000 |
| Hispanic | 10 | $4,910,000 | $491,000 | $2,135,000 | $179,000 | $1,040,000 |
| Black or African American | 8 | $1,980,000 | $247,000 | $365,000 | $85,000 | $138,000 |
| Asian | 4 | $1,890,000 | $472,000 | $585,000 | $90,000 | $141,000 |
| American Indian or Alaskan Native | 2 | $770,000 | $385,000 | $535,000 | $177,000 | $223,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 253 | $81,355,000 | $321,000 | $2,135,000 | $108,000 | $1,040,000 |
| FHA-insured (Federal Housing Administration) | 111 | $28,875,000 | $260,000 | $625,000 | $67,000 | $294,000 |
| VA-guaranteed (Veterans Administration) | 29 | $9,435,000 | $325,000 | $755,000 | $93,000 | $292,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 160 | $50,610,000 | $316,000 | $2,135,000 | $104,000 | $1,040,000 |
| Application Denied By Financial Institution | 56 | $16,470,000 | $294,000 | $1,005,000 | $86,000 | $370,000 |
| File Closed For Incompleteness | 53 | $14,855,000 | $280,000 | $925,000 | $99,000 | $1,008,000 |
| Loan Originated | 48 | $14,060,000 | $292,000 | $625,000 | $90,000 | $257,000 |
| Application Approved But Not Accepted | 46 | $13,830,000 | $300,000 | $1,345,000 | $80,000 | $300,000 |
| Preapproval Denied by Financial Institution | 17 | $5,045,000 | $296,000 | $625,000 | $91,000 | $284,000 |
| Preapproval Approved but not Accepted | 13 | $4,795,000 | $368,000 | $755,000 | $86,000 | $292,000 |
| 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 | 320 | $98,150,000 | $306,000 | $2,135,000 | $97,000 | $1,040,000 |
| Collateral | 22 | $6,200,000 | $281,000 | $875,000 | $114,000 | $370,000 |
| Employment History | 14 | $3,670,000 | $262,000 | $625,000 | $95,000 | $246,000 |
| Debt-To-Income Ratio | 13 | $3,295,000 | $253,000 | $445,000 | $45,000 | $144,000 |
| Credit History | 11 | $3,785,000 | $344,000 | $585,000 | $79,000 | $173,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $1,535,000 | $307,000 | $435,000 | $110,000 | $210,000 |
| Mortgage Insurance Denied | 4 | $1,510,000 | $377,000 | $625,000 | $53,000 | $93,000 |
| Unverifiable Information | 4 | $1,520,000 | $380,000 | $1,005,000 | $78,000 | $153,000 |
| Other | 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 Now, Inc.'s 2021 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 Now, Inc.'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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