Northwood Mortgage Inc Mortgage Lending & HMDA Data, 2004
In 2004, Northwood Mortgage Inc of Irving, TX reported 72 mortgage applications totaling $5.4 million, down 68% from 2003. The average application was for $74,638, and applicants reported an average income of $48,194. 8% of its applications resulted in an originated loan and 39% were denied. Its largest markets were Dallas-Plano-Irving, TX (24), Fort Worth-Arlington, TX (19) and Waco, TX (4) (applications in parentheses).
| Mortgage Company & Address | Northwood Mortgage Inc 6220 N Beltline Rd # 200 Irving, TX 75063 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 72 |
| Total Mortgage Loan Application Amount | $5,374,000 |
| Average Mortgage Loan Application Amount | $74,638 |
| Highest Mortgage Loan Application Amount | $160,000 |
| Average Applicant Income | $48,194 |
| Highest Applicant Income | $336,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Northwood Mortgage Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Northwood Mortgage Inc in 2004
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 | 51 | $3,844,000 | $83,000 | $160,000 | $33,666 | $336,000 |
| Refinancing | 21 | $1,530,000 | $72,000 | $146,000 | $68,000 | $314,000 |
| 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 | 37 | $2,622,000 | $79,666 | $130,000 | $31,000 | $69,000 |
| Not Provided | 13 | $986,000 | $75,000 | $119,000 | $127,000 | $336,000 |
| Hispanic | 12 | $885,000 | $73,000 | $147,000 | $33,000 | $72,000 |
| Black or African American | 9 | $771,000 | $87,500 | $160,000 | $32,000 | $73,000 |
| American Indian or Alaskan Native | 1 | $110,000 | $110,000 | $110,000 | $42,000 | $42,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 45 | $3,436,000 | $83,333 | $160,000 | $31,666 | $73,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 24 | $1,743,000 | $72,000 | $138,000 | $81,000 | $336,000 |
| VA-guaranteed (Veterans Administration) | 2 | $194,000 | $97,000 | $100,000 | $28,000 | $35,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $1,000 | $1,000 | $1,000 | $10,000 | $10,000 |
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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 38 | $2,538,000 | $79,500 | $146,000 | $35,500 | $314,000 |
| Application Denied By Financial Institution | 28 | $2,419,000 | $87,000 | $160,000 | $36,000 | $336,000 |
| Loan Originated | 6 | $417,000 | $69,000 | $103,000 | $105,000 | $314,000 |
| 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 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 11 | $901,000 | $81,500 | $137,000 | $34,000 | $57,000 |
| Debt-To-Income Ratio | 3 | $337,000 | $112,000 | $160,000 | $38,000 | $54,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $293,000 | $97,000 | $114,000 | $141,000 | $336,000 |
| Other | 1 | $79,000 | $79,000 | $79,000 | $32,000 | $32,000 |
| Unverifiable Information | 1 | $147,000 | $147,000 | $147,000 | $56,000 | $56,000 |
| Employment History | 1 | $52,000 | $52,000 | $52,000 | $20,000 | $20,000 |
| Collateral | 1 | $90,000 | $90,000 | $90,000 | $26,000 | $26,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Northwood Mortgage Inc's 2004 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 Northwood Mortgage 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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