Paramount Mortgage Services, I Mortgage Lending & HMDA Data, 2006
In 2006, Paramount Mortgage Services, I of Bordentown, NJ reported 307 mortgage applications totaling $42.1 million, down 65% from 2005. The average application was for $137,081, and applicants reported an average income of $57,091. 25% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (24), Camden, NJ (17) and Philadelphia, PA (13) (applications in parentheses).
| Mortgage Company & Address | Paramount Mortgage Services, I 231 Crosswicks Rd., Suite 5 Bordentown, NJ 08505 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 307 |
| Total Mortgage Loan Application Amount | $42,084,000 |
| Average Mortgage Loan Application Amount | $137,081 |
| Highest Mortgage Loan Application Amount | $900,000 |
| Average Applicant Income | $57,091 |
| Highest Applicant Income | $764,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Paramount Mortgage Services, I filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Atlanta-Sandy Springs-Marietta, GA | 24 | $ 3,643,000 | $ 151,791 | $ 41,000 |
| Camden, NJ | 17 | $ 2,528,000 | $ 148,705 | $ 78,000 |
| Philadelphia, PA | 13 | $ 1,863,000 | $ 143,307 | $ 58,000 |
| Trenton-Ewing, NJ | 11 | $ 2,018,000 | $ 183,454 | $ 124,000 |
| Charlotte-Gastonia-Concord, NC-SC | 10 | $ 1,569,000 | $ 156,900 | $ 43,000 |
| Raleigh-Cary, NC | 10 | $ 1,392,000 | $ 139,200 | $ 45,000 |
| Detroit-Livonia-Dearborn, MI | 8 | $ 802,000 | $ 100,250 | $ 51,000 |
| Edison, NJ | 8 | $ 2,003,000 | $ 250,375 | $ 78,000 |
| Fayetteville, NC | 8 | $ 723,000 | $ 90,375 | $ 40,000 |
| Hickory-Lenoir-Morganton, NC | 8 | $ 852,000 | $ 106,500 | $ 39,000 |
| Baltimore-Towson, MD | 7 | $ 1,327,000 | $ 189,571 | $ 50,000 |
| Scranton--Wilkes-Barre, PA | 7 | $ 508,000 | $ 72,571 | $ 43,000 |
| Asheville, NC | 6 | $ 530,000 | $ 88,333 | $ 44,000 |
| Greensboro-High Point, NC | 6 | $ 655,000 | $ 109,166 | $ 36,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 6 | $ 1,258,000 | $ 209,666 | $ 55,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 6 | $ 1,197,000 | $ 199,500 | $ 84,000 |
| Wilmington, DE-MD-NJ | 6 | $ 753,000 | $ 125,500 | $ 48,000 |
| Wilmington, NC | 6 | $ 740,000 | $ 123,333 | $ 36,000 |
| Jacksonville, FL | 5 | $ 750,000 | $ 150,000 | $ 48,000 |
| Newark-Union, NJ-PA | 5 | $ 1,336,000 | $ 267,200 | $ 122,600 |
| Pittsburgh, PA | 5 | $ 424,000 | $ 84,800 | $ 21,000 |
| Goldsboro, NC | 4 | $ 469,000 | $ 117,250 | $ 32,000 |
| New York-White Plains-Wayne, NY-NJ | 4 | $ 1,342,000 | $ 335,500 | $ 75,000 |
| Atlantic City, NJ | 3 | $ 354,000 | $ 118,000 | $ 67,000 |
| Brunswick, GA | 3 | $ 380,000 | $ 126,666 | $ 87,000 |
| Columbus, GA-AL | 3 | $ 283,000 | $ 94,333 | $ 22,000 |
| Harrisburg-Carlisle, PA | 3 | $ 266,000 | $ 88,666 | $ 35,000 |
| Lancaster, PA | 3 | $ 386,000 | $ 128,666 | $ 50,000 |
| Miami-Miami Beach-Kendall, FL | 3 | $ 589,000 | $ 196,333 | $ 59,000 |
| Muskegon-Norton Shores, MI | 3 | $ 294,000 | $ 98,000 | $ 26,000 |
| Richmond, VA | 3 | $ 379,000 | $ 126,333 | $ 53,000 |
| Rocky Mount, NC | 3 | $ 282,000 | $ 94,000 | $ 75,000 |
| Warren-Troy-Farmington Hills, MI | 3 | $ 319,000 | $ 106,333 | $ 35,000 |
| York-Hanover, PA | 3 | $ 367,000 | $ 122,333 | $ 40,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 2 | $ 228,000 | $ 114,000 | $ 52,000 |
| Augusta-Richmond County, GA-SC | 2 | $ 196,000 | $ 98,000 | $ 42,000 |
| Durham, NC | 2 | $ 234,000 | $ 117,000 | $ 44,000 |
| Harrisonburg, VA | 2 | $ 934,000 | $ 467,000 | $ 764,000 |
| Pensacola-Ferry Pass-Brent, FL | 2 | $ 190,000 | $ 95,000 | $ 20,000 |
| Savannah, GA | 2 | $ 181,000 | $ 90,500 | $ 32,000 |
| Tampa-St. Petersburg-Clearwater, FL | 2 | $ 217,000 | $ 108,500 | $ 29,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 2 | $ 211,000 | $ 105,500 | $ 23,000 |
| Winston-Salem, NC | 2 | $ 147,000 | $ 73,500 | $ 37,000 |
| Athens-Clarke County, GA | 1 | $ 95,000 | $ 95,000 | $ 70,000 |
| Bay City, MI | 1 | $ 85,000 | $ 85,000 | $ 16,000 |
| Chattanooga, TN-GA | 1 | $ 141,000 | $ 141,000 | $ 37,000 |
| Dalton, GA | 1 | $ 85,000 | $ 85,000 | $ 47,000 |
| Erie, PA | 1 | $ 78,000 | $ 78,000 | $ 32,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 90,000 | $ 90,000 | $ 70,000 |
| Holland-Grand Haven, MI | 1 | $ 90,000 | $ 90,000 | $ 30,000 |
| Jackson, MI | 1 | $ 135,000 | $ 135,000 | $ 47,000 |
| Jacksonville, NC | 1 | $ 105,000 | $ 105,000 | $ 52,000 |
| Kingsport-Bristol-Bristol, TN-VA | 1 | $ 140,000 | $ 140,000 | $ 50,000 |
| Lansing-East Lansing, MI | 1 | $ 106,000 | $ 106,000 | $ 27,000 |
| Lebanon, PA | 1 | $ 128,000 | $ 128,000 | $ 35,000 |
| Macon, GA | 1 | $ 97,000 | $ 97,000 | $ 50,000 |
| Manchester-Nashua, NH | 1 | $ 230,000 | $ 230,000 | $ 45,000 |
| Naples-Marco Island, FL | 1 | $ 25,000 | $ 25,000 | $ 45,000 |
| Ocala, FL | 1 | $ 45,000 | $ 45,000 | $ 38,000 |
| Panama City-Lynn Haven, FL | 1 | $ 145,000 | $ 145,000 | $ 60,000 |
| Rockingham County-Strafford County, NH | 1 | $ 63,000 | $ 63,000 | $ 13,000 |
| Sarasota-Bradenton-Venice, FL | 1 | $ 130,000 | $ 130,000 | $ 36,000 |
| Vineland-Millville-Bridgeton, NJ | 1 | $ 90,000 | $ 90,000 | $ 48,000 |
Mortgage Loan Application Detail Totals for Paramount Mortgage Services, I in 2006
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 |
|---|---|---|---|---|---|---|
| Refinancing | 222 | $28,180,000 | $126,000 | $900,000 | $51,000 | $764,000 |
| Home Purchase | 85 | $13,904,000 | $163,000 | $487,000 | $73,000 | $406,000 |
| Home Improvement | 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 | 227 | $31,100,000 | $137,000 | $620,000 | $60,000 | $764,000 |
| Black or African American | 69 | $9,271,000 | $134,000 | $900,000 | $49,000 | $270,000 |
| Hispanic | 8 | $1,441,000 | $180,000 | $435,000 | $50,000 | $144,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $272,000 | $90,000 | $140,000 | $33,000 | $37,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 307 | $42,084,000 | $137,000 | $900,000 | $57,000 | $764,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 138 | $18,833,000 | $136,000 | $900,000 | $53,000 | $764,000 |
| File Closed For Incompleteness | 88 | $10,244,000 | $116,000 | $435,000 | $48,000 | $764,000 |
| Loan Originated | 78 | $12,700,000 | $162,000 | $510,000 | $74,000 | $406,000 |
| Application Denied By Financial Institution | 3 | $307,000 | $102,000 | $200,000 | $50,000 | $57,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Paramount Mortgage Services, I's 2006 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 Paramount Mortgage Services, I'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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