Popular Finance, Inc. Mortgage Lending & HMDA Data, 2005
In 2005, Popular Finance, Inc. of San Juan, PR reported 1,300 mortgage applications totaling $74.0 million, up 16% from 2004. The average application was for $56,929, and applicants reported an average income of $30,814. 36% of its applications resulted in an originated loan and 30% were denied. Its largest markets were San Juan-Caguas-Guaynabo, PR (699), Aguadilla-Isabela-San Sebastian, PR (173) and Ponce, PR (111) (applications in parentheses).
| Mortgage Company & Address | Popular Finance, Inc. Po Box 362708 San Juan, PR 00936 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,300 |
| Total Mortgage Loan Application Amount | $74,008,000 |
| Average Mortgage Loan Application Amount | $56,929 |
| Highest Mortgage Loan Application Amount | $280,000 |
| Average Applicant Income | $30,814 |
| Highest Applicant Income | $368,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Popular Finance, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| San Juan-Caguas-Guaynabo, PR | 699 | $ 41,642,000 | $ 59,573 | $ 35,000 |
| Aguadilla-Isabela-San Sebastian, PR | 173 | $ 10,387,000 | $ 60,040 | $ 28,000 |
| Ponce, PR | 111 | $ 5,764,000 | $ 51,927 | $ 29,000 |
| San German-Cabo Rojo, PR | 65 | $ 3,031,000 | $ 46,630 | $ 27,000 |
| Guayama, PR | 52 | $ 2,096,000 | $ 40,307 | $ 24,000 |
| Fajardo, PR | 42 | $ 3,124,000 | $ 74,380 | $ 35,000 |
| Yauco, PR | 37 | $ 1,876,000 | $ 50,702 | $ 27,000 |
| Mayaguez, PR | 22 | $ 1,136,000 | $ 51,636 | $ 29,000 |
Mortgage Loan Application Detail Totals for Popular Finance, Inc. 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 Improvement | 618 | $30,325,000 | $49,000 | $210,000 | $28,000 | $368,000 |
| Refinancing | 549 | $35,914,000 | $65,000 | $280,000 | $32,000 | $225,000 |
| Home Purchase | 133 | $7,769,000 | $58,000 | $221,000 | $39,000 | $260,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 1,294 | $73,724,000 | $56,000 | $280,000 | $32,000 | $368,000 |
| Not Provided | 4 | $132,000 | $33,000 | $50,000 | $15,000 | $19,000 |
| White | 2 | $152,000 | $76,000 | $102,000 | $16,000 | $23,000 |
| 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 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 1,300 | $74,008,000 | $56,000 | $280,000 | $32,000 | $368,000 |
| 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 | 466 | $28,018,000 | $60,000 | $275,000 | $33,000 | $225,000 |
| Application Denied By Financial Institution | 386 | $22,030,000 | $57,000 | $280,000 | $27,000 | $129,000 |
| File Closed For Incompleteness | 170 | $9,162,000 | $53,000 | $210,000 | $33,000 | $260,000 |
| Application Approved But Not Accepted | 163 | $8,441,000 | $51,000 | $210,000 | $33,000 | $162,000 |
| Application Withdrawn By Applicant | 115 | $6,357,000 | $55,000 | $149,000 | $34,000 | $368,000 |
| 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 |
|---|---|---|---|---|---|---|
| Employment History | 1 | $72,000 | $72,000 | $72,000 | $27,000 | $27,000 |
| 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 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Popular Finance, Inc.'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 Popular Finance, Inc.'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 Puerto Rico, download the full spreadsheet
with aggregated HMDA statistics today.
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