Platinum First Mortgage, LP Mortgage Lending & HMDA Data, 2005
In 2005, Platinum First Mortgage, LP of Miamisburg, OH reported 909 mortgage applications totaling $194.0 million, up 7% from 2004. The average application was for $213,436, and applicants reported an average income of $62,580. 67% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Reno-Sparks, NV (734), Carson City, NV (29) and Boise City-Nampa, ID (6) (applications in parentheses).
| Mortgage Company & Address | Platinum First Mortgage, LP 3232 Newmark Dr. Miamisburg, OH 45342 |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 909 |
| Total Mortgage Loan Application Amount | $194,014,000 |
| Average Mortgage Loan Application Amount | $213,436 |
| Highest Mortgage Loan Application Amount | $1,100,000 |
| Average Applicant Income | $62,580 |
| Highest Applicant Income | $569,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Platinum First Mortgage, LP filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Platinum First Mortgage, LP in 2005
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 | 623 | $133,261,000 | $184,000 | $1,100,000 | $73,375 | $569,000 |
| Refinancing | 271 | $57,920,000 | $178,500 | $1,000,000 | $67,750 | $300,000 |
| Home Improvement | 15 | $2,833,000 | $259,000 | $360,000 | $67,000 | $94,000 |
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 | 702 | $150,795,000 | $188,250 | $1,100,000 | $72,125 | $569,000 |
| Hispanic | 116 | $23,503,000 | $152,000 | $438,000 | $47,000 | $192,000 |
| Asian | 38 | $7,983,000 | $210,000 | $370,000 | $64,000 | $322,000 |
| Not Provided | 23 | $4,757,000 | $189,000 | $403,000 | $52,000 | $176,000 |
| Native Hawaiian or Other Pacific Islander | 15 | $3,684,000 | $245,000 | $535,000 | $72,000 | $198,000 |
| Black or African American | 12 | $2,835,000 | $236,000 | $338,000 | $67,000 | $111,000 |
| American Indian or Alaskan Native | 3 | $457,000 | $152,000 | $192,000 | $53,000 | $59,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 842 | $180,324,000 | $187,250 | $1,100,000 | $72,000 | $569,000 |
| FHA-insured (Federal Housing Administration) | 45 | $8,442,000 | $187,000 | $281,000 | $58,000 | $156,000 |
| VA-guaranteed (Veterans Administration) | 22 | $5,248,000 | $192,500 | $360,000 | $44,500 | $118,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 610 | $134,107,000 | $204,833 | $1,100,000 | $75,833 | $569,000 |
| Application Denied By Financial Institution | 119 | $22,511,000 | $143,400 | $500,000 | $67,400 | $300,000 |
| Application Approved But Not Accepted | 118 | $25,330,000 | $214,000 | $588,000 | $68,000 | $282,000 |
| File Closed For Incompleteness | 27 | $6,705,000 | $229,000 | $424,000 | $38,000 | $216,000 |
| Preapproval Denied by Financial Institution | 22 | $3,434,000 | $156,000 | $535,000 | $48,000 | $120,000 |
| Application Withdrawn By Applicant | 12 | $1,642,000 | $136,000 | $360,000 | $62,000 | $168,000 |
| Loan Purchased By The Institution | 1 | $285,000 | $285,000 | $285,000 | $103,000 | $103,000 |
| 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 Application Incomplete | 100 | $18,060,000 | $145,500 | $535,000 | $66,250 | $300,000 |
| Credit History | 21 | $4,033,000 | $148,500 | $446,000 | $51,500 | $134,000 |
| Debt-To-Income Ratio | 12 | $2,502,000 | $178,000 | $380,000 | $44,500 | $120,000 |
| Collateral | 4 | $700,000 | $160,000 | $204,000 | $97,500 | $242,000 |
| Other | 2 | $480,000 | $240,000 | $380,000 | $6,000 | $13,000 |
| Unverifiable Information | 1 | $30,000 | $30,000 | $30,000 | $74,000 | $74,000 |
| Mortgage Insurance Denied | 1 | $140,000 | $140,000 | $140,000 | $36,000 | $36,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Platinum First Mortgage, LP's 2005 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 First Mortgage, LP'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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