Mortgage Plus of America Corp Mortgage Lending & HMDA Data, 2008
In 2008, Mortgage Plus of America Corp of Kalamazooo, MI reported 188 mortgage applications totaling $36.7 million, down 49% from 2007. The average application was for $195,180, and applicants reported an average income of $94,095. 67% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Kalamazoo-Portage, MI (87), Battle Creek, MI (25) and Grand Rapids-Wyoming, MI (6) (applications in parentheses).
| Mortgage Company & Address | Mortgage Plus of America Corp 3245 S 8th Street Kalamazooo, MI 49009 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 188 |
| Total Mortgage Loan Application Amount | $36,694,000 |
| Average Mortgage Loan Application Amount | $195,180 |
| Highest Mortgage Loan Application Amount | $1,800,000 |
| Average Applicant Income | $94,095 |
| Highest Applicant Income | $1,290,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mortgage Plus of America Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Kalamazoo, Michigan | 81 | $ 13,984,000 | $ 172,641 | $ 76,000 |
| Calhoun, Michigan | 25 | $ 2,762,000 | $ 110,480 | $ 76,000 |
| Manistee, Michigan | 15 | $ 1,237,000 | $ 82,466 | $ 41,000 |
| Allegan, Michigan | 10 | $ 1,509,000 | $ 150,900 | $ 76,000 |
| Van Buren, Michigan | 6 | $ 964,000 | $ 160,666 | $ 80,000 |
| Barry, Michigan | 4 | $ 709,000 | $ 177,250 | $ 69,000 |
| St. Joseph, Michigan | 4 | $ 546,000 | $ 136,500 | $ 70,000 |
| Wayne, Michigan | 4 | $ 515,000 | $ 128,750 | $ 61,000 |
| Cass, Michigan | 3 | $ 419,000 | $ 139,666 | $ 55,000 |
| Ingham, Michigan | 3 | $ 3,739,000 | $ 1,246,333 | $ 230,000 |
| Mason, Michigan | 3 | $ 272,000 | $ 90,666 | $ 45,000 |
| Clinton, Michigan | 2 | $ 250,000 | $ 125,000 | $ 51,000 |
| Oakland, Michigan | 2 | $ 414,000 | $ 207,000 | $ 141,000 |
| Ionia, Michigan | 1 | $ 1,344,000 | $ 1,344,000 | $ 300,000 |
| Kent, Michigan | 1 | $ 46,000 | $ 46,000 | $ 27,000 |
| Lake, Michigan | 1 | $ 50,000 | $ 50,000 | $ 17,000 |
| Montcalm, Michigan | 1 | $ 99,000 | $ 99,000 | $ 53,000 |
| Osceola, Michigan | 1 | $ 120,000 | $ 120,000 | $ 86,000 |
Mortgage Loan Application Detail Totals for Mortgage Plus of America Corp in 2008
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 | 94 | $14,067,000 | $149,000 | $1,344,000 | $100,000 | $1,290,000 |
| Refinancing | 89 | $20,570,000 | $231,000 | $1,800,000 | $85,000 | $588,000 |
| Home Improvement | 5 | $2,057,000 | $411,000 | $900,000 | $145,000 | $221,000 |
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 | 166 | $33,414,000 | $201,000 | $1,800,000 | $97,000 | $1,290,000 |
| Black or African American | 15 | $2,474,000 | $164,000 | $558,000 | $77,000 | $197,000 |
| Not Provided | 3 | $302,000 | $100,000 | $114,000 | $51,000 | $61,000 |
| American Indian or Alaskan Native | 2 | $337,000 | $168,000 | $277,000 | $69,000 | $116,000 |
| Hispanic | 2 | $167,000 | $83,000 | $148,000 | $46,000 | $46,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 99 | $12,434,000 | $125,000 | $325,000 | $58,000 | $198,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 77 | $23,327,000 | $302,000 | $1,800,000 | $149,000 | $1,290,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 12 | $933,000 | $77,000 | $128,000 | $36,000 | $56,000 |
| VA-guaranteed (Veterans Administration) | 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 | 126 | $21,163,000 | $167,000 | $1,800,000 | $96,000 | $1,290,000 |
| Application Denied By Financial Institution | 29 | $5,076,000 | $175,000 | $1,344,000 | $73,000 | $329,000 |
| Application Withdrawn By Applicant | 25 | $9,242,000 | $369,000 | $1,668,000 | $123,000 | $588,000 |
| Application Approved But Not Accepted | 4 | $479,000 | $119,000 | $224,000 | $51,000 | $86,000 |
| File Closed For Incompleteness | 3 | $304,000 | $101,000 | $125,000 | $37,000 | $65,000 |
| Preapproval Denied by Financial Institution | 1 | $430,000 | $430,000 | $430,000 | $69,000 | $69,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mortgage Plus of America Corp's 2008 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 Plus of America 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 Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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