Platinum Financial Funding, LLC Mortgage Lending & HMDA Data, 2016
In 2016, Platinum Financial Funding, LLC of Chattanooga, TN reported 1,227 mortgage applications totaling $191.0 million, up 99% from 2015. The average application was for $155,675, and applicants reported an average income of $59,020. 60% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Chattanooga, TN-GA (463), Knoxville, TN (184) and Cleveland, TN (98) (applications in parentheses).
| Mortgage Company & Address | Platinum Financial Funding, LLC 1913 Gunbarrel Road Chattanooga, TN 37421 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 2015 2014 2013 2012 |
| Total Number of Mortgage Applications | 1,227 |
| Total Mortgage Loan Application Amount | $191,014,000 |
| Average Mortgage Loan Application Amount | $155,675 |
| Highest Mortgage Loan Application Amount | $680,000 |
| Average Applicant Income | $59,020 |
| Highest Applicant Income | $1,014,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Platinum Financial Funding, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Hamilton, Tennessee | 326 | $ 61,092,000 | $ 187,398 | $ 78,000 |
| Bradley, Tennessee | 91 | $ 13,643,000 | $ 149,923 | $ 63,000 |
| Knox, Tennessee | 67 | $ 12,575,000 | $ 187,686 | $ 57,000 |
| Catoosa, Georgia | 61 | $ 8,765,000 | $ 143,688 | $ 56,000 |
| Walker, Georgia | 54 | $ 6,560,000 | $ 121,481 | $ 54,000 |
| Roane, Tennessee | 48 | $ 6,275,000 | $ 130,729 | $ 57,000 |
| Rhea, Tennessee | 27 | $ 3,082,000 | $ 114,148 | $ 37,000 |
| Blount, Tennessee | 25 | $ 4,087,000 | $ 163,480 | $ 54,000 |
| Anderson, Tennessee | 23 | $ 2,767,000 | $ 120,304 | $ 36,000 |
| Davidson, Tennessee | 19 | $ 3,078,000 | $ 162,000 | $ 50,000 |
| Sumner, Tennessee | 17 | $ 2,895,000 | $ 170,294 | $ 54,000 |
| Sevier, Tennessee | 16 | $ 2,606,000 | $ 162,875 | $ 54,000 |
| Dade, Georgia | 12 | $ 1,637,000 | $ 136,416 | $ 54,000 |
| Shelby, Tennessee | 12 | $ 1,667,000 | $ 138,916 | $ 37,000 |
| McMinn, Tennessee | 11 | $ 1,939,000 | $ 176,272 | $ 82,000 |
| Whitfield, Georgia | 10 | $ 1,423,000 | $ 142,300 | $ 58,000 |
| Loudon, Tennessee | 9 | $ 1,579,000 | $ 175,444 | $ 47,000 |
| Rutherford, Tennessee | 9 | $ 1,499,000 | $ 166,555 | $ 53,000 |
| Wilson, Tennessee | 8 | $ 1,268,000 | $ 158,500 | $ 37,000 |
| Jefferson, Alabama | 7 | $ 1,121,000 | $ 160,142 | $ 45,000 |
| Cobb, Georgia | 7 | $ 1,268,000 | $ 181,142 | $ 39,000 |
| Polk, Tennessee | 7 | $ 854,000 | $ 122,000 | $ 34,000 |
| Gwinnett, Georgia | 6 | $ 741,000 | $ 123,500 | $ 44,000 |
| Washington, Tennessee | 6 | $ 1,118,000 | $ 186,333 | $ 83,000 |
| Mobile, Alabama | 5 | $ 812,000 | $ 162,400 | $ 76,000 |
| Campbell, Tennessee | 5 | $ 876,000 | $ 175,200 | $ 67,000 |
| Cumberland, Tennessee | 5 | $ 779,000 | $ 155,800 | $ 87,000 |
| Marion, Tennessee | 5 | $ 802,000 | $ 160,400 | $ 235,000 |
| Montgomery, Tennessee | 5 | $ 766,000 | $ 153,200 | $ 24,000 |
| Morgan, Tennessee | 5 | $ 562,000 | $ 112,400 | $ 50,000 |
| Sequatchie, Tennessee | 5 | $ 902,000 | $ 180,400 | $ 73,000 |
| Cherokee, Georgia | 4 | $ 547,000 | $ 136,750 | $ 44,000 |
| Fulton, Georgia | 4 | $ 515,000 | $ 128,750 | $ 71,000 |
| Robertson, Tennessee | 4 | $ 755,000 | $ 188,750 | $ 48,000 |
| Williamson, Tennessee | 4 | $ 744,000 | $ 186,000 | $ 51,000 |
| Calhoun, Alabama | 3 | $ 603,000 | $ 201,000 | $ 54,000 |
| DeKalb, Georgia | 3 | $ 428,000 | $ 142,666 | $ 94,000 |
| Houston, Georgia | 3 | $ 549,000 | $ 183,000 | $ 60,000 |
| Bledsoe, Tennessee | 3 | $ 443,000 | $ 147,666 | $ 69,000 |
| Cocke, Tennessee | 3 | $ 512,000 | $ 170,666 | $ 44,000 |
| Coffee, Tennessee | 3 | $ 367,000 | $ 122,333 | $ 44,000 |
| Franklin, Tennessee | 3 | $ 362,000 | $ 120,666 | $ 24,000 |
| Greene, Tennessee | 3 | $ 343,000 | $ 114,333 | $ 34,000 |
| Grundy, Tennessee | 3 | $ 328,000 | $ 109,333 | $ 33,000 |
| Hawkins, Tennessee | 3 | $ 351,000 | $ 117,000 | $ 36,000 |
| Jefferson, Tennessee | 3 | $ 425,000 | $ 141,666 | $ 43,000 |
| Madison, Tennessee | 3 | $ 333,000 | $ 111,000 | $ 19,000 |
| Maury, Tennessee | 3 | $ 340,000 | $ 113,333 | $ 27,000 |
| Warren, Tennessee | 3 | $ 270,000 | $ 90,000 | $ 41,000 |
| Baldwin, Alabama | 2 | $ 411,000 | $ 205,500 | $ 70,000 |
| Houston, Alabama | 2 | $ 327,000 | $ 163,500 | $ 37,000 |
| Lee, Alabama | 2 | $ 376,000 | $ 188,000 | $ 59,000 |
| Limestone, Alabama | 2 | $ 364,000 | $ 182,000 | $ 25,000 |
| Madison, Alabama | 2 | $ 225,000 | $ 112,500 | $ 24,000 |
| Chatham, Georgia | 2 | $ 259,000 | $ 129,500 | $ 23,000 |
| Chattooga, Georgia | 2 | $ 138,000 | $ 69,000 | $ 34,000 |
| Clayton, Georgia | 2 | $ 271,000 | $ 135,500 | $ 54,000 |
| Coweta, Georgia | 2 | $ 271,000 | $ 135,500 | $ 43,000 |
| Douglas, Georgia | 2 | $ 295,000 | $ 147,500 | $ 59,000 |
| Fannin, Georgia | 2 | $ 436,000 | $ 218,000 | $ 78,000 |
| Gordon, Georgia | 2 | $ 189,000 | $ 94,500 | $ 45,000 |
| Claiborne, Tennessee | 2 | $ 161,000 | $ 80,500 | $ 32,000 |
| Fentress, Tennessee | 2 | $ 521,000 | $ 260,500 | $ 33,000 |
| Grainger, Tennessee | 2 | $ 425,000 | $ 212,500 | $ 56,000 |
| Meigs, Tennessee | 2 | $ 411,000 | $ 205,500 | $ 28,000 |
| Monroe, Tennessee | 2 | $ 481,000 | $ 240,500 | $ 70,000 |
| Putnam, Tennessee | 2 | $ 290,000 | $ 145,000 | $ 46,000 |
| Sullivan, Tennessee | 2 | $ 226,000 | $ 113,000 | $ 45,000 |
| White, Tennessee | 2 | $ 272,000 | $ 136,000 | $ 17,000 |
| Dallas, Alabama | 1 | $ 114,000 | $ 114,000 | $ 16,000 |
| Elmore, Alabama | 1 | $ 223,000 | $ 223,000 | $ 115,000 |
| Escambia, Alabama | 1 | $ 255,000 | $ 255,000 | $ 140,000 |
| Etowah, Alabama | 1 | $ 250,000 | $ 250,000 | $ 97,000 |
| Jackson, Alabama | 1 | $ 180,000 | $ 180,000 | $ 65,000 |
| Lauderdale, Alabama | 1 | $ 200,000 | $ 200,000 | $ 214,000 |
| Marengo, Alabama | 1 | $ 117,000 | $ 117,000 | $ 91,000 |
| Montgomery, Alabama | 1 | $ 77,000 | $ 77,000 | $ 25,000 |
| Shelby, Alabama | 1 | $ 166,000 | $ 166,000 | $ 65,000 |
| St. Clair, Alabama | 1 | $ 110,000 | $ 110,000 | $ 91,000 |
| Tallapoosa, Alabama | 1 | $ 107,000 | $ 107,000 | $ 54,000 |
| Tuscaloosa, Alabama | 1 | $ 265,000 | $ 265,000 | $ 46,000 |
| Barrow, Georgia | 1 | $ 128,000 | $ 128,000 | $ 58,000 |
| Bartow, Georgia | 1 | $ 141,000 | $ 141,000 | $ 69,000 |
| Berrien, Georgia | 1 | $ 54,000 | $ 54,000 | $ 36,000 |
| Bibb, Georgia | 1 | $ 53,000 | $ 53,000 | $ 28,000 |
| Dawson, Georgia | 1 | $ 143,000 | $ 143,000 | $ 47,000 |
| Decatur, Georgia | 1 | $ 86,000 | $ 86,000 | $ 78,000 |
| Dougherty, Georgia | 1 | $ 155,000 | $ 155,000 | $ 47,000 |
| Effingham, Georgia | 1 | $ 105,000 | $ 105,000 | $ 44,000 |
| Fayette, Georgia | 1 | $ 349,000 | $ 349,000 | $ 213,000 |
| Gilmer, Georgia | 1 | $ 175,000 | $ 175,000 | $ 30,000 |
| Grady, Georgia | 1 | $ 192,000 | $ 192,000 | $ 38,000 |
| Harris, Georgia | 1 | $ 78,000 | $ 78,000 | $ 44,000 |
| Jackson, Georgia | 1 | $ 120,000 | $ 120,000 | $ 50,000 |
| Jasper, Georgia | 1 | $ 119,000 | $ 119,000 | $ 34,000 |
| Liberty, Georgia | 1 | $ 111,000 | $ 111,000 | $ 22,000 |
| Murray, Georgia | 1 | $ 208,000 | $ 208,000 | $ 55,000 |
| Paulding, Georgia | 1 | $ 118,000 | $ 118,000 | $ 44,000 |
| Pickens, Georgia | 1 | $ 165,000 | $ 165,000 | $ 71,000 |
| Rockdale, Georgia | 1 | $ 115,000 | $ 115,000 | $ 26,000 |
| Toombs, Georgia | 1 | $ 125,000 | $ 125,000 | $ 70,000 |
| Carroll, Tennessee | 1 | $ 249,000 | $ 249,000 | $ 0 |
| Decatur, Tennessee | 1 | $ 208,000 | $ 208,000 | $ 0 |
| DeKalb, Tennessee | 1 | $ 175,000 | $ 175,000 | $ 90,000 |
| Hancock, Tennessee | 1 | $ 120,000 | $ 120,000 | $ 41,000 |
| Hardin, Tennessee | 1 | $ 198,000 | $ 198,000 | $ 90,000 |
| Haywood, Tennessee | 1 | $ 115,000 | $ 115,000 | $ 16,000 |
| Hickman, Tennessee | 1 | $ 146,000 | $ 146,000 | $ 92,000 |
| Humphreys, Tennessee | 1 | $ 144,000 | $ 144,000 | $ 72,000 |
| Macon, Tennessee | 1 | $ 198,000 | $ 198,000 | $ 37,000 |
| Obion, Tennessee | 1 | $ 183,000 | $ 183,000 | $ 55,000 |
| Overton, Tennessee | 1 | $ 91,000 | $ 91,000 | $ 19,000 |
| Stewart, Tennessee | 1 | $ 130,000 | $ 130,000 | $ 125,000 |
| Tipton, Tennessee | 1 | $ 138,000 | $ 138,000 | $ 30,000 |
| Van Buren, Tennessee | 1 | $ 213,000 | $ 213,000 | $ 60,000 |
| Weakley, Tennessee | 1 | $ 140,000 | $ 140,000 | $ 73,000 |
Mortgage Loan Application Detail Totals for Platinum Financial Funding, LLC in 2016
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 | 880 | $133,469,000 | $151,000 | $500,000 | $61,000 | $1,014,000 |
| Refinancing | 347 | $57,545,000 | $165,000 | $680,000 | $54,000 | $318,000 |
| 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 | 1,056 | $166,243,000 | $157,000 | $680,000 | $61,000 | $1,014,000 |
| Black or African American | 119 | $16,923,000 | $142,000 | $406,000 | $50,000 | $203,000 |
| Hispanic | 34 | $4,878,000 | $143,000 | $338,000 | $48,000 | $195,000 |
| Asian | 9 | $1,604,000 | $178,000 | $319,000 | $44,000 | $70,000 |
| Not Provided | 7 | $1,101,000 | $157,000 | $289,000 | $53,000 | $148,000 |
| American Indian or Alaskan Native | 1 | $142,000 | $142,000 | $142,000 | $62,000 | $62,000 |
| Native Hawaiin or Other Pacific Islander | 1 | $123,000 | $123,000 | $123,000 | $47,000 | $47,000 |
| 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) | 607 | $85,133,000 | $140,000 | $349,000 | $46,000 | $213,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 432 | $76,991,000 | $178,000 | $680,000 | $81,000 | $1,014,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 102 | $12,420,000 | $121,000 | $257,000 | $40,000 | $87,000 |
| VA-guaranteed (Veterans Administration) | 86 | $16,470,000 | $191,000 | $406,000 | $68,000 | $203,000 |
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 | 738 | $121,748,000 | $164,000 | $566,000 | $64,000 | $1,014,000 |
| Preapproval Denied by Financial Institution | 169 | $20,160,000 | $119,000 | $427,000 | $42,000 | $144,000 |
| Application Withdrawn By Applicant | 154 | $25,293,000 | $164,000 | $680,000 | $62,000 | $194,000 |
| Application Denied By Financial Institution | 137 | $18,687,000 | $136,000 | $385,000 | $50,000 | $240,000 |
| Application Approved But Not Accepted | 29 | $5,126,000 | $176,000 | $535,000 | $62,000 | $148,000 |
| File Closed For Incompleteness | 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 |
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 | 191 | $23,987,000 | $125,000 | $427,000 | $45,000 | $144,000 |
| Debt-To-Income Ratio | 71 | $8,951,000 | $126,000 | $385,000 | $41,000 | $213,000 |
| Other | 19 | $2,437,000 | $128,000 | $270,000 | $43,000 | $100,000 |
| Collateral | 11 | $1,485,000 | $135,000 | $226,000 | $56,000 | $90,000 |
| Employment History | 9 | $1,244,000 | $138,000 | $248,000 | $82,000 | $240,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $441,000 | $220,000 | $320,000 | $64,000 | $72,000 |
| Unverifiable Information | 2 | $202,000 | $101,000 | $112,000 | $26,000 | $38,000 |
| Credit Application Incomplete | 1 | $100,000 | $100,000 | $100,000 | $34,000 | $34,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Platinum Financial Funding, LLC's 2016 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 Platinum Financial Funding, 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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