Patriot Acceptance Corporation Mortgage Lending & HMDA Data, 2004
In 2004, Patriot Acceptance Corporation of Elkhart, IN reported 109 mortgage applications totaling $11.8 million. The average application was for $107,908, and applicants reported an average income of $44,715. 0% of its applications resulted in an originated loan and 13% were denied. Its largest markets were San Antonio, TX (3), Evansville, IN-KY (2) and Owensboro, KY (2) (applications in parentheses).
| Mortgage Company & Address | Patriot Acceptance Corporation 307 S Main St Elkhart, IN 46515 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 |
| Total Number of Mortgage Applications | 109 |
| Total Mortgage Loan Application Amount | $11,762,000 |
| Average Mortgage Loan Application Amount | $107,908 |
| Highest Mortgage Loan Application Amount | $173,000 |
| Average Applicant Income | $44,715 |
| Highest Applicant Income | $96,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Patriot Acceptance Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Patriot Acceptance Corporation in 2004
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 | 109 | $11,762,000 | $102,000 | $173,000 | $47,555 | $96,000 |
| Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 88 | $9,596,000 | $102,555 | $164,000 | $50,222 | $96,000 |
| Not Provided | 7 | $845,000 | $115,000 | $173,000 | $36,000 | $87,000 |
| Black or African American | 6 | $443,000 | $66,500 | $95,000 | $38,500 | $44,000 |
| Hispanic | 4 | $431,000 | $107,500 | $122,000 | $46,000 | $48,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $260,000 | $130,000 | $142,000 | $35,000 | $46,000 |
| Asian | 2 | $187,000 | $93,000 | $115,000 | $39,000 | $49,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 79 | $8,512,000 | $105,125 | $164,000 | $46,125 | $94,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 30 | $3,250,000 | $106,857 | $173,000 | $52,857 | $96,000 |
| 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 | 58 | $6,362,000 | $107,857 | $173,000 | $48,857 | $96,000 |
| Preapproval Denied by Financial Institution | 22 | $2,323,000 | $105,000 | $164,000 | $41,000 | $64,000 |
| Application Denied By Financial Institution | 14 | $1,477,000 | $103,166 | $162,000 | $52,833 | $78,000 |
| File Closed For Incompleteness | 8 | $879,000 | $104,000 | $142,000 | $50,333 | $63,000 |
| Application Approved But Not Accepted | 6 | $658,000 | $110,200 | $142,000 | $54,600 | $73,000 |
| Preapproval Approved but not Accepted | 1 | $63,000 | $63,000 | $63,000 | $25,000 | $25,000 |
| Loan Originated | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Credit History | 14 | $1,455,000 | $111,000 | $162,000 | $56,800 | $69,000 |
| Debt-To-Income Ratio | 13 | $1,308,000 | $98,000 | $164,000 | $33,000 | $54,000 |
| Collateral | 4 | $433,000 | $108,250 | $145,000 | $52,000 | $78,000 |
| Other | 3 | $367,000 | $122,000 | $127,000 | $48,500 | $64,000 |
| Unverifiable Information | 1 | $122,000 | $122,000 | $122,000 | $48,000 | $48,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $115,000 | $115,000 | $115,000 | $55,000 | $55,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Patriot Acceptance Corporation's 2004 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 Patriot Acceptance Corporation'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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