On Q Financial, LLC Mortgage Lending & HMDA Data, 2023
In 2023, On Q Financial, LLC of Scottsdale, AZ reported 3,049 mortgage applications totaling $1.1 billion, down 59% from 2022. The average application was for $347,748, and applicants reported an average income of $138,218. 61% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (503), Greenville-Anderson-Mauldin, SC (326) and Seattle-Bellevue-Everett, WA (158) (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 | 3,049 |
| Total Mortgage Loan Application Amount | $1,060,285,000 |
| Average Mortgage Loan Application Amount | $347,748 |
| Highest Mortgage Loan Application Amount | $3,605,000 |
| Average Applicant Income | $138,218 |
| Highest Applicant Income | $4,239,000 |
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Act (HMDA) records On Q Financial, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2023
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 | 2,702 | $950,820,000 | $351,000 | $3,605,000 | $138,000 | $4,239,000 |
| Cash-out Refinancing | 227 | $66,815,000 | $294,000 | $1,605,000 | $136,000 | $1,200,000 |
| Refinancing | 116 | $42,300,000 | $364,000 | $1,275,000 | $148,000 | $387,000 |
| Other Purpose | 4 | $350,000 | $87,000 | $315,000 | $128,000 | $172,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 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 | 1,779 | $588,125,000 | $330,000 | $2,005,000 | $135,000 | $4,239,000 |
| Not Provided | 585 | $231,875,000 | $396,000 | $3,605,000 | $158,000 | $3,213,000 |
| Hispanic | 251 | $85,255,000 | $339,000 | $1,145,000 | $112,000 | $544,000 |
| Not applicable | 186 | $66,020,000 | $354,000 | $1,025,000 | $0 | $0 |
| Black or African American | 141 | $44,735,000 | $317,000 | $1,185,000 | $135,000 | $3,213,000 |
| Asian | 68 | $28,830,000 | $423,000 | $985,000 | $141,000 | $425,000 |
| American Indian or Alaskan Native | 24 | $7,040,000 | $293,000 | $525,000 | $121,000 | $649,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $800,000 | $400,000 | $435,000 | $168,000 | $214,000 |
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) | 1,929 | $719,205,000 | $372,000 | $3,605,000 | $162,000 | $4,239,000 |
| FHA-insured (Federal Housing Administration) | 834 | $237,410,000 | $284,000 | $1,105,000 | $92,000 | $455,000 |
| VA-guaranteed (Veterans Administration) | 246 | $96,910,000 | $393,000 | $1,195,000 | $117,000 | $485,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 40 | $6,760,000 | $169,000 | $385,000 | $69,000 | $112,000 |
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 | 1,874 | $651,970,000 | $347,000 | $3,005,000 | $135,000 | $4,239,000 |
| Application Withdrawn By Applicant | 396 | $131,470,000 | $331,000 | $1,125,000 | $142,000 | $1,830,000 |
| Application Approved But Not Accepted | 262 | $97,000,000 | $370,000 | $1,285,000 | $160,000 | $3,213,000 |
| Application Denied By Financial Institution | 203 | $62,375,000 | $307,000 | $3,605,000 | $105,000 | $1,001,000 |
| Loan Purchased By The Institution | 186 | $66,020,000 | $354,000 | $1,025,000 | $0 | $0 |
| File Closed For Incompleteness | 128 | $51,450,000 | $401,000 | $2,925,000 | $181,000 | $3,213,000 |
| 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 | 2,846 | $997,910,000 | $350,000 | $3,005,000 | $141,000 | $4,239,000 |
| Credit History | 51 | $13,305,000 | $260,000 | $1,275,000 | $100,000 | $664,000 |
| Debt-To-Income Ratio | 45 | $12,525,000 | $278,000 | $655,000 | $74,000 | $239,000 |
| Collateral | 34 | $10,540,000 | $310,000 | $1,355,000 | $122,000 | $588,000 |
| Credit Application Incomplete | 34 | $15,370,000 | $452,000 | $3,605,000 | $144,000 | $1,001,000 |
| Other | 16 | $4,090,000 | $255,000 | $505,000 | $97,000 | $186,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 12 | $3,500,000 | $291,000 | $705,000 | $124,000 | $350,000 |
| Employment History | 10 | $2,750,000 | $275,000 | $435,000 | $76,000 | $110,000 |
| Unverifiable Information | 1 | $295,000 | $295,000 | $295,000 | $55,000 | $55,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into On Q Financial, LLC's 2023 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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