Omni Bank Mortgage Lending & HMDA Data, 2005
In 2005, Omni Bank of Metairie, LA reported 1,413 mortgage applications totaling $232.6 million, down 3% from 2004. The average application was for $164,622, and applicants reported an average income of $68,876. 88% of its applications resulted in an originated loan and 4% were denied. Its largest markets were New Orleans-Metairie-Kenner, LA (1,340), Baton Rouge, LA (39) and Gulfport-Biloxi, MS (7) (applications in parentheses).
| Mortgage Company & Address | Omni Bank 2900 Ridgelake Dr Metairie, LA 70002 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,413 |
| Total Mortgage Loan Application Amount | $232,611,000 |
| Average Mortgage Loan Application Amount | $164,622 |
| Highest Mortgage Loan Application Amount | $6,300,000 |
| Average Applicant Income | $68,876 |
| Highest Applicant Income | $1,012,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Omni Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Orleans-Metairie-Kenner, LA | 1,340 | $ 219,734,000 | $ 163,980 | $ 70,000 |
| Baton Rouge, LA | 39 | $ 6,305,000 | $ 161,666 | $ 70,000 |
| Gulfport-Biloxi, MS | 7 | $ 2,171,000 | $ 310,142 | $ 29,000 |
| Fort Walton Beach-Crestview-Destin, FL | 2 | $ 441,000 | $ 220,500 | $ 273,000 |
| Houma-Bayou Cane-Thibodaux, LA | 2 | $ 154,000 | $ 77,000 | $ 0 |
| Jackson, MS | 1 | $ 92,000 | $ 92,000 | $ 160,000 |
| Pensacola-Ferry Pass-Brent, FL | 1 | $ 392,000 | $ 392,000 | $ 0 |
Mortgage Loan Application Detail Totals for Omni Bank in 2005
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 | 680 | $114,294,000 | $329,500 | $1,800,000 | $56,000 | $1,012,000 |
| Refinancing | 638 | $112,823,000 | $198,000 | $6,300,000 | $170,000 | $932,000 |
| Home Improvement | 95 | $5,494,000 | $57,000 | $552,000 | $64,000 | $445,000 |
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 | 788 | $119,568,000 | $246,000 | $1,200,000 | $134,500 | $1,012,000 |
| Not applicable | 325 | $78,821,000 | $507,333 | $6,300,000 | $0 | $0 |
| Black or African American | 215 | $23,791,000 | $110,000 | $460,000 | $69,000 | $343,000 |
| Hispanic | 51 | $6,155,000 | $99,000 | $500,000 | $46,500 | $460,000 |
| Asian | 27 | $3,585,000 | $132,000 | $464,000 | $58,000 | $188,000 |
| American Indian or Alaskan Native | 3 | $119,000 | $39,000 | $79,000 | $150,000 | $225,000 |
| Not Provided | 3 | $472,000 | $157,000 | $221,000 | $64,000 | $72,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $100,000 | $100,000 | $100,000 | $30,000 | $30,000 |
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) | 1,410 | $232,275,000 | $300,250 | $6,300,000 | $89,500 | $1,012,000 |
| FHA-insured (Federal Housing Administration) | 3 | $336,000 | $112,000 | $143,000 | $42,000 | $48,000 |
| 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 | 1,248 | $208,302,000 | $311,000 | $6,300,000 | $56,500 | $1,012,000 |
| Application Withdrawn By Applicant | 77 | $10,812,000 | $140,000 | $464,000 | $81,000 | $421,000 |
| Application Denied By Financial Institution | 57 | $8,044,000 | $302,000 | $840,000 | $125,333 | $318,000 |
| Application Approved But Not Accepted | 23 | $4,158,000 | $180,000 | $392,000 | $68,000 | $144,000 |
| File Closed For Incompleteness | 4 | $1,252,000 | $313,000 | $591,000 | $102,000 | $126,000 |
| Loan Purchased By The Institution | 4 | $43,000 | $10,000 | $21,000 | $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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 23 | $3,619,000 | $185,500 | $290,000 | $166,500 | $318,000 |
| Credit History | 14 | $1,781,000 | $127,000 | $280,000 | $51,000 | $249,000 |
| Collateral | 1 | $80,000 | $80,000 | $80,000 | $29,000 | $29,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $89,000 | $89,000 | $89,000 | $85,000 | $85,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Omni Bank's 2005 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 Omni Bank'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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