On Q Financial, LLC Mortgage Lending & HMDA Data, 2021
In 2021, On Q Financial, LLC of Scottsdale, AZ reported 12,537 mortgage applications totaling $4.0 billion, down 14% from 2020. The average application was for $315,290, and applicants reported an average income of $112,607. 41% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (1,838), Greenville-Anderson-Mauldin, SC (970) and Atlanta-Sandy Springs-Roswell, GA (519) (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 | 12,537 |
| Total Mortgage Loan Application Amount | $3,952,795,000 |
| Average Mortgage Loan Application Amount | $315,290 |
| Highest Mortgage Loan Application Amount | $3,005,000 |
| Average Applicant Income | $112,607 |
| Highest Applicant Income | $1,723,000 |
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Act (HMDA) records On Q Financial, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2021
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 | 7,238 | $2,266,080,000 | $313,000 | $3,005,000 | $107,000 | $1,513,000 |
| Refinancing | 3,461 | $1,082,225,000 | $312,000 | $2,775,000 | $122,000 | $1,723,000 |
| Cash-out Refinancing | 1,838 | $604,490,000 | $328,000 | $1,485,000 | $117,000 | $1,070,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 5,556 | $1,824,420,000 | $328,000 | $1,505,000 | $0 | $0 |
| White | 4,053 | $1,172,665,000 | $289,000 | $3,005,000 | $112,000 | $1,723,000 |
| Not Provided | 1,897 | $667,245,000 | $351,000 | $3,005,000 | $126,000 | $1,260,000 |
| Hispanic | 505 | $135,095,000 | $267,000 | $765,000 | $87,000 | $1,513,000 |
| Black or African American | 359 | $94,155,000 | $262,000 | $935,000 | $86,000 | $624,000 |
| Asian | 122 | $45,720,000 | $374,000 | $1,815,000 | $136,000 | $623,000 |
| American Indian or Alaskan Native | 17 | $5,195,000 | $305,000 | $655,000 | $89,000 | $162,000 |
| Native Hawaiian or Other Pacific Islander | 13 | $4,395,000 | $338,000 | $595,000 | $118,000 | $318,000 |
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) | 7,949 | $2,712,335,000 | $341,000 | $3,005,000 | $127,000 | $1,723,000 |
| FHA-insured (Federal Housing Administration) | 2,961 | $763,865,000 | $257,000 | $865,000 | $69,000 | $360,000 |
| VA-guaranteed (Veterans Administration) | 1,437 | $441,085,000 | $306,000 | $1,505,000 | $91,000 | $476,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 190 | $35,510,000 | $186,000 | $515,000 | $54,000 | $120,000 |
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 Purchased By The Institution | 5,556 | $1,824,420,000 | $328,000 | $1,505,000 | $0 | $0 |
| Loan Originated | 5,097 | $1,556,695,000 | $305,000 | $3,005,000 | $113,000 | $1,723,000 |
| Application Withdrawn By Applicant | 840 | $252,940,000 | $301,000 | $2,285,000 | $114,000 | $1,260,000 |
| File Closed For Incompleteness | 353 | $116,715,000 | $330,000 | $2,775,000 | $118,000 | $863,000 |
| Application Approved But Not Accepted | 353 | $107,225,000 | $303,000 | $1,605,000 | $120,000 | $1,243,000 |
| Application Denied By Financial Institution | 325 | $91,225,000 | $280,000 | $1,795,000 | $96,000 | $1,513,000 |
| Preapproval Approved but not Accepted | 10 | $2,810,000 | $281,000 | $425,000 | $83,000 | $175,000 |
| Preapproval Denied by Financial Institution | 3 | $765,000 | $255,000 | $285,000 | $74,000 | $90,000 |
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 | 12,209 | $3,860,805,000 | $316,000 | $3,005,000 | $114,000 | $1,723,000 |
| Debt-To-Income Ratio | 104 | $29,050,000 | $279,000 | $765,000 | $60,000 | $263,000 |
| Collateral | 79 | $22,625,000 | $286,000 | $945,000 | $105,000 | $538,000 |
| Credit History | 74 | $17,670,000 | $238,000 | $605,000 | $86,000 | $317,000 |
| Other | 29 | $9,235,000 | $318,000 | $995,000 | $225,000 | $1,513,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 17 | $4,225,000 | $248,000 | $755,000 | $76,000 | $286,000 |
| Employment History | 13 | $3,735,000 | $287,000 | $1,095,000 | $81,000 | $311,000 |
| Credit Application Incomplete | 7 | $1,635,000 | $233,000 | $365,000 | $62,000 | $98,000 |
| Unverifiable Information | 5 | $3,815,000 | $763,000 | $1,795,000 | $247,000 | $599,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into On Q Financial, LLC's 2021 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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