Olympiawest Mortgage Group LLC Mortgage Lending & HMDA Data, 2008
In 2008, Olympiawest Mortgage Group LLC of Vienna, VA reported 400 mortgage applications totaling $122.0 million, down 56% from 2007. The average application was for $305,055, and applicants reported an average income of $120,840. 53% of its applications resulted in an originated loan and 26% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (107), Providence-New Bedford-Fall River, RI-MA (31) and Boston-Quincy, MA (21) (applications in parentheses).
| Mortgage Company & Address | Olympiawest Mortgage Group LLC 1950 Old Gallows Rd. Ste 800 Vienna, VA 22182 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 |
| Total Number of Mortgage Applications | 400 |
| Total Mortgage Loan Application Amount | $122,022,000 |
| Average Mortgage Loan Application Amount | $305,055 |
| Highest Mortgage Loan Application Amount | $1,999,000 |
| Average Applicant Income | $120,840 |
| Highest Applicant Income | $1,865,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Olympiawest Mortgage Group LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 107 | $ 32,337,000 | $ 302,214 | $ 118,121 |
| Providence-New Bedford-Fall River, RI-MA | 31 | $ 7,825,000 | $ 252,419 | $ 89,838 |
| Boston-Quincy, MA | 21 | $ 5,922,000 | $ 282,000 | $ 83,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 20 | $ 4,066,000 | $ 203,300 | $ 111,550 |
| Bethesda-Frederick-Gaithersburg, MD | 12 | $ 5,126,000 | $ 427,166 | $ 145,000 |
| Baltimore-Towson, MD | 8 | $ 1,397,000 | $ 174,625 | $ 92,000 |
| Bridgeport-Stamford-Norwalk, CT | 8 | $ 2,540,000 | $ 317,500 | $ 116,000 |
| Edison-New Brunswick, NJ | 8 | $ 2,668,000 | $ 333,500 | $ 97,000 |
| Cambridge-Newton-Framingham, MA | 7 | $ 2,548,000 | $ 364,000 | $ 140,000 |
| San Diego-Carlsbad-San Marcos, CA | 7 | $ 3,024,000 | $ 432,000 | $ 179,000 |
| Los Angeles-Long Beach-Glendale, CA | 6 | $ 3,950,000 | $ 658,333 | $ 429,000 |
| Winchester, VA-WV | 6 | $ 1,235,000 | $ 205,833 | $ 56,000 |
| Barnstable Town, MA | 5 | $ 1,574,000 | $ 314,800 | $ 97,000 |
| Hagerstown-Martinsburg, MD-WV | 5 | $ 695,000 | $ 139,000 | $ 73,200 |
| Miami-Miami Beach-Kendall, FL | 5 | $ 1,253,000 | $ 250,600 | $ 84,000 |
| New Haven-Milford, CT | 5 | $ 1,412,000 | $ 282,400 | $ 97,000 |
| Hartford-West Hartford-East Hartford, CT | 4 | $ 1,832,000 | $ 458,000 | $ 127,000 |
| Riverside-San Bernardino-Ontario, CA | 4 | $ 1,158,000 | $ 289,500 | $ 86,000 |
| Durham, NC | 3 | $ 523,000 | $ 174,333 | $ 78,000 |
| Merced, CA | 3 | $ 699,000 | $ 233,000 | $ 108,000 |
| New York-White Plains-Wayne, NY-NJ | 3 | $ 1,108,000 | $ 369,333 | $ 156,000 |
| Newark-Union, NJ-PA | 3 | $ 816,000 | $ 272,000 | $ 93,000 |
| Augusta-Richmond County, GA-SC | 2 | $ 803,000 | $ 401,500 | $ 190,500 |
| Camden, NJ | 2 | $ 431,000 | $ 215,500 | $ 112,000 |
| Greenville-Mauldin-Easley, SC | 2 | $ 260,000 | $ 130,000 | $ 82,000 |
| Oakland-Fremont-Hayward, CA | 2 | $ 1,109,000 | $ 554,500 | $ 142,000 |
| Peabody, MA | 2 | $ 608,000 | $ 304,000 | $ 79,000 |
| Richmond, VA | 2 | $ 357,000 | $ 178,500 | $ 79,000 |
| Santa Ana-Anaheim-Irvine, CA | 2 | $ 498,000 | $ 249,000 | $ 91,000 |
| Tampa-St. Petersburg-Clearwater, FL | 2 | $ 368,000 | $ 184,000 | $ 63,000 |
| Worcester, MA | 2 | $ 407,000 | $ 203,500 | $ 90,000 |
| Atlantic City-Hammonton, NJ | 1 | $ 258,000 | $ 258,000 | $ 66,000 |
| Bangor, ME | 1 | $ 88,000 | $ 88,000 | $ 45,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 200,000 | $ 200,000 | $ 60,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 212,000 | $ 212,000 | $ 86,000 |
| Charleston-North Charleston-Summerville, SC | 1 | $ 469,000 | $ 469,000 | $ 108,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 1 | $ 239,000 | $ 239,000 | $ 198,000 |
| Fresno, CA | 1 | $ 222,000 | $ 222,000 | $ 53,000 |
| Gary, IN | 1 | $ 398,000 | $ 398,000 | $ 106,000 |
| Hanford-Corcoran, CA | 1 | $ 336,000 | $ 336,000 | $ 108,000 |
| Harrisonburg, VA | 1 | $ 262,000 | $ 262,000 | $ 47,000 |
| Madera, CA | 1 | $ 290,000 | $ 290,000 | $ 75,000 |
| Myrtle Beach-North Myrtle Beach-Conway, SC | 1 | $ 279,000 | $ 279,000 | $ 94,000 |
| Norwich-New London, CT | 1 | $ 406,000 | $ 406,000 | $ 134,000 |
| Portland-South Portland-Biddeford, ME | 1 | $ 500,000 | $ 500,000 | $ 128,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 1 | $ 417,000 | $ 417,000 | $ 119,000 |
| Springfield, MA | 1 | $ 265,000 | $ 265,000 | $ 101,000 |
| Stockton, CA | 1 | $ 352,000 | $ 352,000 | $ 109,000 |
| Vallejo-Fairfield, CA | 1 | $ 332,000 | $ 332,000 | $ 70,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 1 | $ 748,000 | $ 748,000 | $ 1,250,000 |
| Wilmington, NC | 1 | $ 234,000 | $ 234,000 | $ 154,000 |
Mortgage Loan Application Detail Totals for Olympiawest Mortgage Group LLC 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 |
|---|---|---|---|---|---|---|
| Refinancing | 224 | $72,085,000 | $321,000 | $1,999,000 | $116,000 | $1,025,000 |
| Home Purchase | 176 | $49,937,000 | $283,000 | $1,015,000 | $127,000 | $1,865,000 |
| 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 | 283 | $90,008,000 | $318,000 | $1,999,000 | $131,000 | $1,865,000 |
| Black or African American | 47 | $11,414,000 | $242,000 | $1,015,000 | $97,000 | $372,000 |
| Hispanic | 42 | $12,014,000 | $286,000 | $485,000 | $98,000 | $294,000 |
| Asian | 22 | $7,352,000 | $334,000 | $933,000 | $107,000 | $192,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $850,000 | $170,000 | $258,000 | $65,000 | $105,000 |
| Not Provided | 1 | $384,000 | $384,000 | $384,000 | $52,000 | $52,000 |
| American Indian or Alaskan Native | 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) | 324 | $105,180,000 | $324,000 | $1,999,000 | $128,000 | $1,865,000 |
| FHA-insured (Federal Housing Administration) | 76 | $16,842,000 | $221,000 | $345,000 | $89,000 | $258,000 |
| 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 | 211 | $57,883,000 | $274,000 | $1,820,000 | $110,000 | $473,000 |
| Application Denied By Financial Institution | 105 | $34,804,000 | $331,000 | $1,999,000 | $111,000 | $425,000 |
| Application Approved But Not Accepted | 36 | $11,071,000 | $307,000 | $933,000 | $145,000 | $1,025,000 |
| Application Withdrawn By Applicant | 31 | $11,677,000 | $376,000 | $1,400,000 | $155,000 | $1,250,000 |
| File Closed For Incompleteness | 17 | $6,587,000 | $387,000 | $1,150,000 | $205,000 | $1,865,000 |
| 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 |
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 |
|---|---|---|---|---|---|---|
| Unverifiable Information | 19 | $6,388,000 | $336,000 | $650,000 | $123,000 | $282,000 |
| Collateral | 17 | $5,543,000 | $326,000 | $634,000 | $105,000 | $240,000 |
| Debt-To-Income Ratio | 11 | $3,497,000 | $317,000 | $485,000 | $122,000 | $166,000 |
| Credit History | 10 | $2,998,000 | $299,000 | $600,000 | $91,000 | $191,000 |
| Other | 6 | $2,309,000 | $384,000 | $500,000 | $124,000 | $211,000 |
| Employment History | 2 | $448,000 | $224,000 | $265,000 | $74,000 | $113,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $324,000 | $324,000 | $324,000 | $117,000 | $117,000 |
| Mortgage Insurance Denied | 1 | $371,000 | $371,000 | $371,000 | $150,000 | $150,000 |
| Credit Application Incomplete | 1 | $168,000 | $168,000 | $168,000 | $62,000 | $62,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Olympiawest Mortgage Group LLC'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 Olympiawest Mortgage Group 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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