Mortgage Source LLC Mortgage Lending & HMDA Data, 2009
In 2009, Mortgage Source LLC of Garden City, NY reported 1,259 mortgage applications totaling $373.8 million, up 21% from 2008. The average application was for $296,908, and applicants reported an average income of $79,950. 57% of its applications resulted in an originated loan and 15% were denied. Its largest markets were New York-White Plains-Wayne, NY-NJ (323), Nassau-Suffolk, NY (204) and Newark-Union, NJ-PA (67) (applications in parentheses).
| Mortgage Company & Address | Mortgage Source LLC 600 Old Country Road Garden City, NY 11530 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 |
| Total Number of Mortgage Applications | 1,259 |
| Total Mortgage Loan Application Amount | $373,808,000 |
| Average Mortgage Loan Application Amount | $296,908 |
| Highest Mortgage Loan Application Amount | $3,920,000 |
| Average Applicant Income | $79,950 |
| Highest Applicant Income | $844,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mortgage Source LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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-White Plains-Wayne, NY-NJ | 323 | $ 126,496,000 | $ 391,628 | $ 86,736 |
| Nassau-Suffolk, NY | 204 | $ 67,197,000 | $ 329,397 | $ 107,000 |
| Newark-Union, NJ-PA | 67 | $ 19,759,000 | $ 294,910 | $ 67,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 57 | $ 16,733,000 | $ 293,561 | $ 76,526 |
| Edison-New Brunswick, NJ | 48 | $ 14,134,000 | $ 294,458 | $ 87,000 |
| Richmond, VA | 42 | $ 9,361,000 | $ 222,880 | $ 78,000 |
| Baltimore-Towson, MD | 25 | $ 6,777,000 | $ 271,080 | $ 74,000 |
| Atlanta-Sandy Springs-Marietta, GA | 24 | $ 5,436,000 | $ 226,500 | $ 71,000 |
| Camden, NJ | 24 | $ 5,693,000 | $ 237,208 | $ 68,000 |
| Bethesda-Frederick-Rockville, MD | 23 | $ 8,350,000 | $ 363,043 | $ 91,000 |
| Hartford-West Hartford-East Hartford, CT | 23 | $ 4,805,000 | $ 208,913 | $ 71,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 18 | $ 4,049,000 | $ 224,944 | $ 57,000 |
| Chicago-Naperville-Joliet, IL | 16 | $ 6,707,000 | $ 419,187 | $ 101,000 |
| Bridgeport-Stamford-Norwalk, CT | 15 | $ 5,022,000 | $ 334,800 | $ 89,000 |
| New Haven-Milford, CT | 12 | $ 2,635,000 | $ 219,583 | $ 54,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 12 | $ 3,528,000 | $ 294,000 | $ 95,000 |
| Wilmington, DE-MD-NJ | 11 | $ 2,210,000 | $ 200,909 | $ 54,545 |
| Denver-Aurora-Broomfield, CO | 10 | $ 2,695,000 | $ 269,500 | $ 69,000 |
| Albany-Schenectady-Troy, NY | 9 | $ 1,908,000 | $ 212,000 | $ 73,000 |
| Charleston-North Charleston-Summerville, SC | 9 | $ 1,519,000 | $ 168,777 | $ 40,000 |
| Charlotte-Gastonia-Concord, NC-SC | 9 | $ 1,880,000 | $ 208,888 | $ 74,666 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 9 | $ 1,884,000 | $ 209,333 | $ 60,000 |
| Buffalo-Niagara Falls, NY | 8 | $ 982,000 | $ 122,750 | $ 47,000 |
| Norwich-New London, CT | 8 | $ 1,407,000 | $ 175,875 | $ 52,000 |
| Memphis, TN-MS-AR | 7 | $ 1,318,000 | $ 188,285 | $ 49,000 |
| Orlando-Kissimmee, FL | 6 | $ 1,012,000 | $ 168,666 | $ 53,000 |
| St. Louis, MO-IL | 6 | $ 1,054,000 | $ 175,666 | $ 73,000 |
| Cambridge-Newton-Framingham, MA | 5 | $ 1,934,000 | $ 386,800 | $ 107,000 |
| Columbia, SC | 5 | $ 834,000 | $ 166,800 | $ 55,000 |
| Kingston, NY | 5 | $ 1,001,000 | $ 200,200 | $ 79,000 |
| Rochester, NY | 5 | $ 1,062,000 | $ 212,400 | $ 109,000 |
| Atlantic City-Hammonton, NJ | 4 | $ 827,000 | $ 206,750 | $ 14,000 |
| Greenville-Mauldin-Easley, SC | 4 | $ 723,000 | $ 180,750 | $ 53,000 |
| Indianapolis-Carmel, IN | 4 | $ 892,000 | $ 223,000 | $ 100,000 |
| Jacksonville, FL | 4 | $ 657,000 | $ 164,250 | $ 58,000 |
| Miami-Miami Beach-Kendall, FL | 4 | $ 806,000 | $ 201,500 | $ 33,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 4 | $ 798,000 | $ 199,500 | $ 85,000 |
| Raleigh-Cary, NC | 4 | $ 556,000 | $ 139,000 | $ 34,000 |
| Trenton-Ewing, NJ | 4 | $ 1,070,000 | $ 267,500 | $ 58,000 |
| Asheville, NC | 3 | $ 610,000 | $ 203,333 | $ 22,000 |
| Boston-Quincy, MA | 3 | $ 558,000 | $ 186,000 | $ 34,000 |
| Florence, SC | 3 | $ 767,000 | $ 255,666 | $ 51,000 |
| Gary, IN | 3 | $ 691,000 | $ 230,333 | $ 61,000 |
| Glens Falls, NY | 3 | $ 492,000 | $ 164,000 | $ 99,000 |
| Grand Junction, CO | 3 | $ 587,000 | $ 195,666 | $ 41,000 |
| Myrtle Beach-North Myrtle Beach-Conway, SC | 3 | $ 641,000 | $ 213,666 | $ 41,000 |
| Utica-Rome, NY | 3 | $ 444,000 | $ 148,000 | $ 70,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 3 | $ 579,000 | $ 193,000 | $ 95,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 2 | $ 414,000 | $ 207,000 | $ 67,000 |
| Binghamton, NY | 2 | $ 278,000 | $ 139,000 | $ 84,000 |
| Chattanooga, TN-GA | 2 | $ 429,000 | $ 214,500 | $ 55,000 |
| Gainesville, GA | 2 | $ 364,000 | $ 182,000 | $ 94,000 |
| Greensboro-High Point, NC | 2 | $ 356,000 | $ 178,000 | $ 82,000 |
| Hagerstown-Martinsburg, MD-WV | 2 | $ 398,000 | $ 199,000 | $ 89,000 |
| Johnson City, TN | 2 | $ 309,000 | $ 154,500 | $ 43,000 |
| Los Angeles-Long Beach-Glendale, CA | 2 | $ 557,000 | $ 278,500 | $ 60,000 |
| New Orleans-Metairie-Kenner, LA | 2 | $ 380,000 | $ 190,000 | $ 79,000 |
| Oakland-Fremont-Hayward, CA | 2 | $ 1,060,000 | $ 530,000 | $ 148,000 |
| Palm Bay-Melbourne-Titusville, FL | 2 | $ 201,000 | $ 100,500 | $ 31,000 |
| Port St. Lucie, FL | 2 | $ 496,000 | $ 248,000 | $ 60,000 |
| Syracuse, NY | 2 | $ 261,000 | $ 130,500 | $ 51,000 |
| Tampa-St. Petersburg-Clearwater, FL | 2 | $ 381,000 | $ 190,500 | $ 41,000 |
| Worcester, MA | 2 | $ 464,000 | $ 232,000 | $ 27,000 |
| Albany, GA | 1 | $ 259,000 | $ 259,000 | $ 97,000 |
| Baton Rouge, LA | 1 | $ 184,000 | $ 184,000 | $ 38,000 |
| Burlington, NC | 1 | $ 155,000 | $ 155,000 | $ 39,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 194,000 | $ 194,000 | $ 103,000 |
| Cape Girardeau-Jackson, MO-IL | 1 | $ 145,000 | $ 145,000 | $ 62,000 |
| Chico, CA | 1 | $ 100,000 | $ 100,000 | $ 33,000 |
| Cleveland-Elyria-Mentor, OH | 1 | $ 89,000 | $ 89,000 | $ 29,000 |
| Colorado Springs, CO | 1 | $ 151,000 | $ 151,000 | $ 50,000 |
| Flagstaff, AZ | 1 | $ 295,000 | $ 295,000 | $ 59,000 |
| Gainesville, FL | 1 | $ 296,000 | $ 296,000 | $ 56,000 |
| Hickory-Lenoir-Morganton, NC | 1 | $ 100,000 | $ 100,000 | $ 24,000 |
| Houma-Bayou Cane-Thibodaux, LA | 1 | $ 190,000 | $ 190,000 | $ 104,000 |
| Kansas City, MO-KS | 1 | $ 187,000 | $ 187,000 | $ 59,000 |
| Knoxville, TN | 1 | $ 168,000 | $ 168,000 | $ 51,000 |
| Lafayette, IN | 1 | $ 182,000 | $ 182,000 | $ 48,000 |
| Lafayette, LA | 1 | $ 158,000 | $ 158,000 | $ 51,000 |
| Macon, GA | 1 | $ 204,000 | $ 204,000 | $ 158,000 |
| Morristown, TN | 1 | $ 90,000 | $ 90,000 | $ 52,000 |
| Naples-Marco Island, FL | 1 | $ 338,000 | $ 338,000 | $ 151,000 |
| Ocala, FL | 1 | $ 107,000 | $ 107,000 | $ 43,000 |
| Ocean City, NJ | 1 | $ 241,000 | $ 241,000 | $ 60,000 |
| Owensboro, KY | 1 | $ 76,000 | $ 76,000 | $ 53,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 349,000 | $ 349,000 | $ 0 |
| Providence-New Bedford-Fall River, RI-MA | 1 | $ 180,000 | $ 180,000 | $ 42,000 |
| Pueblo, CO | 1 | $ 179,000 | $ 179,000 | $ 62,000 |
| Punta Gorda, FL | 1 | $ 166,000 | $ 166,000 | $ 46,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 101,000 | $ 101,000 | $ 41,000 |
| Rockford, IL | 1 | $ 179,000 | $ 179,000 | $ 66,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 1 | $ 210,000 | $ 210,000 | $ 0 |
| San Francisco-San Mateo-Redwood City, CA | 1 | $ 227,000 | $ 227,000 | $ 96,000 |
| Savannah, GA | 1 | $ 194,000 | $ 194,000 | $ 40,000 |
| Shreveport-Bossier City, LA | 1 | $ 161,000 | $ 161,000 | $ 73,000 |
| Spartanburg, SC | 1 | $ 151,000 | $ 151,000 | $ 0 |
| Springfield, MO | 1 | $ 246,000 | $ 246,000 | $ 67,000 |
| Sumter, SC | 1 | $ 95,000 | $ 95,000 | $ 54,000 |
| Tucson, AZ | 1 | $ 186,000 | $ 186,000 | $ 38,000 |
| Vineland-Millville-Bridgeton, NJ | 1 | $ 186,000 | $ 186,000 | $ 39,000 |
| Winchester, VA-WV | 1 | $ 189,000 | $ 189,000 | $ 51,000 |
| Winston-Salem, NC | 1 | $ 176,000 | $ 176,000 | $ 0 |
| Yuma, AZ | 1 | $ 137,000 | $ 137,000 | $ 58,000 |
Mortgage Loan Application Detail Totals for Mortgage Source LLC in 2009
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 | 1,017 | $285,274,000 | $280,000 | $956,000 | $75,000 | $286,000 |
| Home Purchase | 241 | $88,341,000 | $366,000 | $3,920,000 | $101,000 | $844,000 |
| Home Improvement | 1 | $193,000 | $193,000 | $193,000 | $42,000 | $42,000 |
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 | 496 | $142,524,000 | $287,000 | $3,920,000 | $87,000 | $844,000 |
| Not Provided | 370 | $103,412,000 | $279,000 | $950,000 | $76,000 | $260,000 |
| Black or African American | 254 | $80,714,000 | $317,000 | $908,000 | $73,000 | $395,000 |
| Hispanic | 107 | $36,920,000 | $345,000 | $693,000 | $75,000 | $161,000 |
| Asian | 21 | $6,180,000 | $294,000 | $476,000 | $74,000 | $142,000 |
| Native Hawaiian or Other Pacific Islander | 8 | $3,120,000 | $390,000 | $448,000 | $130,000 | $224,000 |
| American Indian or Alaskan Native | 3 | $938,000 | $312,000 | $553,000 | $97,000 | $139,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 918 | $274,980,000 | $299,000 | $950,000 | $72,000 | $275,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 341 | $98,828,000 | $289,000 | $3,920,000 | $101,000 | $844,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 713 | $200,799,000 | $281,000 | $908,000 | $77,000 | $307,000 |
| Application Withdrawn By Applicant | 363 | $109,973,000 | $302,000 | $956,000 | $84,000 | $395,000 |
| Application Denied By Financial Institution | 183 | $63,036,000 | $344,000 | $3,920,000 | $84,000 | $844,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial 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 |
|---|---|---|---|---|---|---|
| Collateral | 47 | $14,772,000 | $314,000 | $693,000 | $82,000 | $260,000 |
| Other | 41 | $16,797,000 | $409,000 | $3,920,000 | $101,000 | $844,000 |
| Credit History | 31 | $9,619,000 | $310,000 | $605,000 | $72,000 | $286,000 |
| Debt-To-Income Ratio | 31 | $11,500,000 | $370,000 | $627,000 | $78,000 | $251,000 |
| Unverifiable Information | 12 | $3,558,000 | $296,000 | $631,000 | $79,000 | $192,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 7 | $2,219,000 | $317,000 | $625,000 | $71,000 | $158,000 |
| Employment History | 3 | $1,139,000 | $379,000 | $515,000 | $91,000 | $105,000 |
| Credit Application Incomplete | 2 | $831,000 | $415,000 | $448,000 | $88,000 | $101,000 |
| Mortgage Insurance Denied | 1 | $228,000 | $228,000 | $228,000 | $122,000 | $122,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mortgage Source LLC's 2009 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 Source LLC'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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