On Q Financial, LLC Mortgage Lending & HMDA Data, 2024
In 2024, On Q Financial, LLC of Scottsdale, AZ reported 1,690 mortgage applications totaling $647.4 million, down 45% from 2023. The average application was for $383,100, and applicants reported an average income of $148,314. 64% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (439), Seattle-Bellevue-Everett, WA (119) and Greenville-Anderson-Mauldin, SC (109) (applications in parentheses).
| Mortgage Company & Address | On Q Financial, LLC 4800 Scottsdale Rd Suite 5500 Scottsdale, AZ 85260 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 |
| Total Number of Mortgage Applications | 1,690 |
| Total Mortgage Loan Application Amount | $647,440,000 |
| Average Mortgage Loan Application Amount | $383,100 |
| Highest Mortgage Loan Application Amount | $3,005,000 |
| Average Applicant Income | $148,314 |
| Highest Applicant Income | $3,589,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records On Q Financial, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for On Q Financial, LLC in 2024
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 | 1,451 | $563,755,000 | $388,000 | $3,005,000 | $148,000 | $2,160,000 |
| Cash-out Refinancing | 136 | $44,600,000 | $327,000 | $1,825,000 | $136,000 | $861,000 |
| Refinancing | 103 | $39,085,000 | $379,000 | $1,635,000 | $169,000 | $3,589,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | 1,032 | $374,140,000 | $362,000 | $2,945,000 | $138,000 | $1,398,000 |
| Not Provided | 326 | $144,790,000 | $444,000 | $3,005,000 | $194,000 | $3,589,000 |
| Hispanic | 166 | $58,250,000 | $350,000 | $845,000 | $117,000 | $491,000 |
| Asian | 90 | $47,430,000 | $527,000 | $1,825,000 | $189,000 | $1,007,000 |
| Black or African American | 60 | $18,590,000 | $309,000 | $955,000 | $110,000 | $396,000 |
| American Indian or Alaskan Native | 14 | $3,450,000 | $246,000 | $405,000 | $87,000 | $153,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $790,000 | $395,000 | $595,000 | $185,000 | $240,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,088 | $445,180,000 | $409,000 | $3,005,000 | $173,000 | $3,589,000 |
| FHA-insured (Federal Housing Administration) | 444 | $139,950,000 | $315,000 | $995,000 | $99,000 | $491,000 |
| VA-guaranteed (Veterans Administration) | 144 | $59,100,000 | $410,000 | $1,195,000 | $122,000 | $426,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 14 | $3,210,000 | $229,000 | $395,000 | $78,000 | $128,000 |
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 |
|---|---|---|---|---|---|---|
| Loan Originated | 1,075 | $401,275,000 | $373,000 | $2,005,000 | $141,000 | $1,263,000 |
| Application Withdrawn By Applicant | 405 | $172,435,000 | $425,000 | $3,005,000 | $166,000 | $2,160,000 |
| Application Denied By Financial Institution | 79 | $23,075,000 | $292,000 | $765,000 | $120,000 | $1,007,000 |
| File Closed For Incompleteness | 67 | $27,515,000 | $410,000 | $1,045,000 | $166,000 | $766,000 |
| Application Approved But Not Accepted | 64 | $23,140,000 | $361,000 | $1,825,000 | $182,000 | $3,589,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 1,611 | $624,365,000 | $387,000 | $3,005,000 | $150,000 | $3,589,000 |
| Debt-To-Income Ratio | 21 | $5,825,000 | $277,000 | $685,000 | $72,000 | $170,000 |
| Credit History | 20 | $5,170,000 | $258,000 | $765,000 | $123,000 | $861,000 |
| Collateral | 14 | $3,590,000 | $256,000 | $565,000 | $152,000 | $1,007,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 9 | $3,485,000 | $387,000 | $745,000 | $150,000 | $426,000 |
| Other | 5 | $1,855,000 | $371,000 | $715,000 | $87,000 | $169,000 |
| Credit Application Incomplete | 4 | $1,140,000 | $285,000 | $385,000 | $145,000 | $176,000 |
| Employment History | 3 | $865,000 | $288,000 | $325,000 | $104,000 | $164,000 |
| Unverifiable Information | 3 | $1,145,000 | $381,000 | $715,000 | $224,000 | $340,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into On Q Financial, LLC's 2024 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 On Q Financial, 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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