Potomac Mortgage Group Inc Mortgage Lending & HMDA Data, 2013
In 2013, Potomac Mortgage Group Inc of Fairfax, VA reported 2,844 mortgage applications totaling $1.1 billion, up 19% from 2012. The average application was for $370,920, and applicants reported an average income of $158,141. 75% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (2,362), Morgantown, WV (94) and Bethesda-Rockville-Frederick, MD (70) (applications in parentheses).
| Mortgage Company & Address | Potomac Mortgage Group Inc 4035 Ridge Top Road, #100 Fairfax, VA 22030 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2013 2012 2011 2010 |
| Total Number of Mortgage Applications | 2,844 |
| Total Mortgage Loan Application Amount | $1,054,898,000 |
| Average Mortgage Loan Application Amount | $370,920 |
| Highest Mortgage Loan Application Amount | $1,977,000 |
| Average Applicant Income | $158,141 |
| Highest Applicant Income | $9,095,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Potomac Mortgage Group Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 2,362 | $ 937,377,000 | $ 396,857 | $ 163,209 |
| Morgantown, WV | 94 | $ 16,684,000 | $ 177,489 | $ 117,000 |
| Bethesda-Rockville-Frederick, MD | 70 | $ 28,277,000 | $ 403,957 | $ 192,000 |
| Winchester, VA-WV | 32 | $ 7,128,000 | $ 222,750 | $ 86,906 |
| Baltimore-Towson, MD | 28 | $ 10,552,000 | $ 376,857 | $ 172,000 |
| Hagerstown-Martinsburg, MD-WV | 27 | $ 5,561,000 | $ 205,962 | $ 102,592 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 18 | $ 6,174,000 | $ 343,000 | $ 119,000 |
| Richmond, VA | 16 | $ 3,088,000 | $ 193,000 | $ 76,000 |
| Charleston, WV | 5 | $ 1,435,000 | $ 287,000 | $ 120,000 |
| Charlottesville, VA | 5 | $ 1,295,000 | $ 259,000 | $ 357,000 |
| Jacksonville, FL | 4 | $ 429,000 | $ 107,250 | $ 82,000 |
| Harrisonburg, VA | 3 | $ 594,000 | $ 198,000 | $ 133,000 |
| Asheville, NC | 2 | $ 379,000 | $ 189,500 | $ 239,000 |
| Orlando-Kissimmee-Sanford, FL | 2 | $ 730,000 | $ 365,000 | $ 170,000 |
| Parkersburg-Marietta-Vienna, WV-OH | 2 | $ 263,000 | $ 131,500 | $ 93,000 |
| Tampa-St. Petersburg-Clearwater, FL | 2 | $ 539,000 | $ 269,500 | $ 153,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 749,000 | $ 749,000 | $ 287,000 |
| Charlotte-Gastonia-Rock Hill, NC-SC | 1 | $ 417,000 | $ 417,000 | $ 125,000 |
| Danville, VA | 1 | $ 101,000 | $ 101,000 | $ 120,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 1 | $ 79,000 | $ 79,000 | $ 79,000 |
| Denver-Aurora-Broomfield, CO | 1 | $ 638,000 | $ 638,000 | $ 196,000 |
| Fayetteville, NC | 1 | $ 176,000 | $ 176,000 | $ 128,000 |
| Huntington-Ashland, WV-KY-OH | 1 | $ 306,000 | $ 306,000 | $ 136,000 |
| Lynchburg, VA | 1 | $ 272,000 | $ 272,000 | $ 106,000 |
| Naples-Marco Island, FL | 1 | $ 320,000 | $ 320,000 | $ 953,000 |
| Roanoke, VA | 1 | $ 100,000 | $ 100,000 | $ 23,000 |
| Salisbury, MD | 1 | $ 417,000 | $ 417,000 | $ 291,000 |
| Wilmington, NC | 1 | $ 72,000 | $ 72,000 | $ 312,000 |
Mortgage Loan Application Detail Totals for Potomac Mortgage Group Inc in 2013
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 | 1,817 | $702,118,000 | $386,000 | $1,977,000 | $160,000 | $9,095,000 |
| Refinancing | 1,002 | $346,460,000 | $345,000 | $1,800,000 | $155,000 | $1,980,000 |
| Home Improvement | 25 | $6,320,000 | $252,000 | $407,000 | $149,000 | $953,000 |
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 | 1,674 | $605,818,000 | $361,000 | $1,802,000 | $156,000 | $2,520,000 |
| Not Provided | 613 | $248,316,000 | $405,000 | $1,977,000 | $167,000 | $1,980,000 |
| Asian | 225 | $84,104,000 | $373,000 | $1,088,000 | $179,000 | $4,869,000 |
| Hispanic | 144 | $47,374,000 | $328,000 | $716,000 | $114,000 | $414,000 |
| Black or African American | 139 | $50,180,000 | $361,000 | $1,013,000 | $133,000 | $550,000 |
| Not applicable | 36 | $14,512,000 | $403,000 | $733,000 | $252,000 | $9,095,000 |
| American Indian or Alaskan Native | 7 | $2,090,000 | $298,000 | $641,000 | $101,000 | $305,000 |
| Native Hawaiian or Other Pacific Islander | 6 | $2,504,000 | $417,000 | $705,000 | $133,000 | $220,000 |
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) | 2,174 | $777,226,000 | $357,000 | $1,977,000 | $172,000 | $9,095,000 |
| FHA-insured (Federal Housing Administration) | 342 | $123,411,000 | $360,000 | $778,000 | $105,000 | $334,000 |
| VA-guaranteed (Veterans Administration) | 320 | $153,360,000 | $479,000 | $1,185,000 | $126,000 | $438,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 8 | $901,000 | $112,000 | $173,000 | $48,000 | $67,000 |
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 | 2,133 | $783,735,000 | $367,000 | $1,802,000 | $159,000 | $9,095,000 |
| Application Withdrawn By Applicant | 461 | $183,598,000 | $398,000 | $1,977,000 | $169,000 | $2,520,000 |
| Application Approved But Not Accepted | 120 | $45,378,000 | $378,000 | $1,225,000 | $185,000 | $775,000 |
| Application Denied By Financial Institution | 95 | $28,300,000 | $297,000 | $920,000 | $110,000 | $402,000 |
| Loan Purchased By The Institution | 35 | $13,887,000 | $396,000 | $733,000 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 29 | $6,823,000 | $235,000 | $600,000 | $122,000 | $402,000 |
| Debt-To-Income Ratio | 23 | $7,050,000 | $306,000 | $751,000 | $78,000 | $175,000 |
| Credit History | 18 | $5,561,000 | $308,000 | $785,000 | $102,000 | $239,000 |
| Other | 10 | $2,335,000 | $233,000 | $616,000 | $111,000 | $274,000 |
| Unverifiable Information | 5 | $2,327,000 | $465,000 | $920,000 | $148,000 | $231,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $1,317,000 | $439,000 | $625,000 | $169,000 | $327,000 |
| Credit Application Incomplete | 3 | $1,856,000 | $618,000 | $715,000 | $186,000 | $237,000 |
| Employment History | 1 | $260,000 | $260,000 | $260,000 | $201,000 | $201,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Potomac Mortgage Group Inc's 2013 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 Potomac Mortgage Group 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.
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