Optionwide Financial Corp Mortgage Lending & HMDA Data, 2024
In 2024, Optionwide Financial Corp of Irvine, CA reported 285 mortgage applications totaling $168.2 million, down 54% from 2023. The average application was for $590,192, and applicants reported an average income of $557,740. 34% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (44), Anaheim-Santa Ana-Irvine, CA (21) and Miami-Miami Beach-Kendall, FL (20) (applications in parentheses).
| Mortgage Company & Address | Optionwide Financial Corp 7525 Irvine Center Drive, Suite 100 Irvine, CA 92618 |
| Federal Regulator | * available with data download |
| Years | 2024 2023 |
| Total Number of Mortgage Applications | 285 |
| Total Mortgage Loan Application Amount | $168,205,000 |
| Average Mortgage Loan Application Amount | $590,192 |
| Highest Mortgage Loan Application Amount | $4,005,000 |
| Average Applicant Income | $557,740 |
| Highest Applicant Income | $4,681,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Optionwide Financial Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Optionwide Financial Corp 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 | 118 | $86,910,000 | $736,000 | $3,375,000 | $582,000 | $4,681,000 |
| Other Purpose | 71 | $16,295,000 | $229,000 | $505,000 | $440,000 | $2,279,000 |
| Cash-out Refinancing | 60 | $41,240,000 | $687,000 | $4,005,000 | $530,000 | $3,898,000 |
| Refinancing | 35 | $23,585,000 | $673,000 | $2,805,000 | $773,000 | $4,419,000 |
| Home Improvement | 1 | $175,000 | $175,000 | $175,000 | $185,000 | $185,000 |
| 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 | 95 | $61,115,000 | $643,000 | $4,005,000 | $442,000 | $2,805,000 |
| Not Provided | 82 | $43,490,000 | $530,000 | $2,565,000 | $576,000 | $4,681,000 |
| Hispanic | 49 | $34,525,000 | $704,000 | $3,375,000 | $608,000 | $3,898,000 |
| Asian | 34 | $13,710,000 | $403,000 | $1,405,000 | $239,000 | $616,000 |
| Black or African American | 25 | $15,365,000 | $614,000 | $1,845,000 | $1,274,000 | $4,419,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 285 | $168,205,000 | $590,000 | $4,005,000 | $558,000 | $4,681,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 98 | $53,270,000 | $543,000 | $2,565,000 | $594,000 | $4,681,000 |
| Application Approved But Not Accepted | 91 | $59,365,000 | $652,000 | $3,375,000 | $590,000 | $4,419,000 |
| Application Withdrawn By Applicant | 51 | $35,255,000 | $691,000 | $4,005,000 | $672,000 | $3,971,000 |
| Application Denied By Financial Institution | 44 | $18,960,000 | $430,000 | $2,805,000 | $282,000 | $1,629,000 |
| File Closed For Incompleteness | 1 | $1,355,000 | $1,355,000 | $1,355,000 | $459,000 | $459,000 |
| 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 | 241 | $149,245,000 | $619,000 | $4,005,000 | $608,000 | $4,681,000 |
| Debt-To-Income Ratio | 17 | $8,865,000 | $521,000 | $2,805,000 | $215,000 | $1,040,000 |
| Collateral | 10 | $3,670,000 | $367,000 | $745,000 | $400,000 | $1,036,000 |
| Credit History | 5 | $2,305,000 | $461,000 | $1,685,000 | $495,000 | $1,629,000 |
| Unverifiable Information | 5 | $1,845,000 | $369,000 | $945,000 | $164,000 | $260,000 |
| Other | 3 | $905,000 | $301,000 | $355,000 | $252,000 | $301,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $1,055,000 | $351,000 | $405,000 | $203,000 | $234,000 |
| Employment History | 1 | $315,000 | $315,000 | $315,000 | $100,000 | $100,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Optionwide Financial Corp'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 Optionwide Financial Corp'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.
For a list of all lenders in California, download the full spreadsheet
with aggregated HMDA statistics today.
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