Precision Financial Inc Mortgage Lending & HMDA Data, 2005
In 2005, Precision Financial Inc of Syosset, NY reported 1,905 mortgage applications totaling $491.3 million, up 571% from 2004. The average application was for $257,874, and applicants reported an average income of $89,814. 73% of its applications resulted in an originated loan and 5% were denied. Its largest markets were New York-Wayne-White Plains, NY-NJ (674), Nassau-Suffolk, NY (430) and Orlando, FL (57) (applications in parentheses).
| Mortgage Company & Address | Precision Financial Inc 6800 Jericho Turnpike Suite206e Syosset, NY 11791 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 1,905 |
| Total Mortgage Loan Application Amount | $491,250,000 |
| Average Mortgage Loan Application Amount | $257,874 |
| Highest Mortgage Loan Application Amount | $2,900,000 |
| Average Applicant Income | $89,814 |
| Highest Applicant Income | $1,380,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Precision Financial Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| New York-Wayne-White Plains, NY-NJ | 674 | $ 201,752,000 | $ 299,335 | $ 100,000 |
| Nassau-Suffolk, NY | 430 | $ 119,743,000 | $ 278,472 | $ 105,000 |
| Orlando, FL | 57 | $ 14,734,000 | $ 258,491 | $ 121,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 56 | $ 9,933,000 | $ 177,375 | $ 65,000 |
| Tampa-St. Petersburg-Clearwater, FL | 56 | $ 9,122,000 | $ 162,892 | $ 73,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 45 | $ 9,748,000 | $ 216,622 | $ 84,000 |
| Baltimore-Towson, MD | 41 | $ 7,927,000 | $ 193,341 | $ 59,000 |
| Boston-Quincy, MA | 33 | $ 10,439,000 | $ 316,333 | $ 108,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 31 | $ 7,124,000 | $ 229,806 | $ 98,000 |
| Rochester, NY | 20 | $ 2,743,000 | $ 137,150 | $ 53,000 |
| Jacksonville, FL | 18 | $ 2,809,000 | $ 156,055 | $ 73,000 |
| Essex County, MA | 17 | $ 4,272,000 | $ 251,294 | $ 78,000 |
| Buffalo-Niagara Falls, NY | 15 | $ 1,927,000 | $ 128,466 | $ 68,000 |
| Cambridge-Newton-Framingham, MA | 15 | $ 4,799,000 | $ 319,933 | $ 94,000 |
| Lakeland, FL | 15 | $ 2,210,000 | $ 147,333 | $ 70,000 |
| Albany-Schenectady-Troy, NY | 13 | $ 2,121,000 | $ 163,153 | $ 82,000 |
| Hartford-West Hartford-East Hartford, CT | 13 | $ 1,972,000 | $ 151,692 | $ 75,000 |
| Philadelphia, PA | 13 | $ 2,684,000 | $ 206,461 | $ 73,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 13 | $ 2,324,000 | $ 178,769 | $ 78,000 |
| Bridgeport-Stamford-Norwalk, CT | 12 | $ 3,821,000 | $ 318,416 | $ 91,000 |
| Port St. Lucie-Fort Pierce, FL | 12 | $ 2,235,000 | $ 186,250 | $ 101,000 |
| New Haven-Milford, CT | 11 | $ 2,200,000 | $ 200,000 | $ 66,000 |
| Springfield, MA | 11 | $ 2,000,000 | $ 181,818 | $ 53,000 |
| Worcester, MA | 11 | $ 2,096,000 | $ 190,545 | $ 62,000 |
| Cape Coral-Fort Myers, FL | 10 | $ 1,865,000 | $ 186,500 | $ 120,000 |
| Miami-Miami Beach-Kendall, FL | 10 | $ 3,803,000 | $ 380,300 | $ 206,000 |
| Bethesda-Frederick-Gaithersburg, MD | 9 | $ 2,184,000 | $ 242,666 | $ 107,000 |
| Sarasota-Bradenton-Venice, FL | 9 | $ 1,540,000 | $ 171,111 | $ 64,000 |
| Glens Falls, NY | 7 | $ 922,000 | $ 131,714 | $ 67,000 |
| Kingston, NY | 7 | $ 1,303,000 | $ 186,142 | $ 72,000 |
| Los Angeles-Long Beach-Glendale, CA | 7 | $ 1,480,000 | $ 211,428 | $ 94,000 |
| Utica-Rome, NY | 7 | $ 677,000 | $ 96,714 | $ 48,000 |
| Barnstable Town, MA | 6 | $ 1,723,000 | $ 287,166 | $ 74,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 5 | $ 841,000 | $ 168,200 | $ 34,000 |
| Newark-Union, NJ-PA | 5 | $ 1,357,000 | $ 271,400 | $ 77,000 |
| Ocala, FL | 5 | $ 710,000 | $ 142,000 | $ 66,000 |
| Riverside-San Bernardino-Ontario, CA | 5 | $ 965,000 | $ 193,000 | $ 86,000 |
| Camden, NJ | 4 | $ 890,000 | $ 222,500 | $ 61,000 |
| Oakland-Fremont-Hayward, CA | 4 | $ 1,191,000 | $ 297,750 | $ 40,000 |
| Richmond, VA | 4 | $ 565,000 | $ 141,250 | $ 48,000 |
| Santa Ana-Anaheim-Irvine, CA | 4 | $ 1,499,000 | $ 374,750 | $ 517,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 3 | $ 553,000 | $ 184,333 | $ 84,000 |
| Punta Gorda, FL | 3 | $ 750,000 | $ 250,000 | $ 112,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 3 | $ 1,061,000 | $ 353,666 | $ 92,000 |
| Syracuse, NY | 3 | $ 457,000 | $ 152,333 | $ 91,000 |
| Bakersfield, CA | 2 | $ 270,000 | $ 135,000 | $ 65,000 |
| Chicago-Naperville-Joliet, IL | 2 | $ 653,000 | $ 326,500 | $ 124,000 |
| Denver-Aurora, CO | 2 | $ 205,000 | $ 102,500 | $ 88,000 |
| Edison, NJ | 2 | $ 614,000 | $ 307,000 | $ 100,000 |
| Madera, CA | 2 | $ 503,000 | $ 251,500 | $ 62,000 |
| Modesto, CA | 2 | $ 373,000 | $ 186,500 | $ 73,000 |
| Nashville-Davidson--Murfreesboro, TN | 2 | $ 332,000 | $ 166,000 | $ 55,000 |
| Norwich-New London, CT | 2 | $ 304,000 | $ 152,000 | $ 61,000 |
| York-Hanover, PA | 2 | $ 383,000 | $ 191,500 | $ 87,000 |
| Elmira, NY | 1 | $ 145,000 | $ 145,000 | $ 42,000 |
| Fort Walton Beach-Crestview-Destin, FL | 1 | $ 205,000 | $ 205,000 | $ 42,000 |
| Hagerstown-Martinsburg, MD-WV | 1 | $ 297,000 | $ 297,000 | $ 78,000 |
| Harrisonburg, VA | 1 | $ 250,000 | $ 250,000 | $ 79,000 |
| Ithaca, NY | 1 | $ 200,000 | $ 200,000 | $ 141,000 |
| Lancaster, PA | 1 | $ 165,000 | $ 165,000 | $ 31,000 |
| Naples-Marco Island, FL | 1 | $ 188,000 | $ 188,000 | $ 32,000 |
| Palm Bay-Melbourne-Titusville, FL | 1 | $ 85,000 | $ 85,000 | $ 22,000 |
| Panama City-Lynn Haven, FL | 1 | $ 140,000 | $ 140,000 | $ 48,000 |
| Pittsburgh, PA | 1 | $ 95,000 | $ 95,000 | $ 59,000 |
| Reading, PA | 1 | $ 123,000 | $ 123,000 | $ 96,000 |
| San Francisco-San Mateo-Redwood City, CA | 1 | $ 250,000 | $ 250,000 | $ 181,000 |
| Santa Barbara-Santa Maria-Goleta, CA | 1 | $ 628,000 | $ 628,000 | $ 124,000 |
| Stockton, CA | 1 | $ 70,000 | $ 70,000 | $ 54,000 |
| Tallahassee, FL | 1 | $ 100,000 | $ 100,000 | $ 70,000 |
| Trenton-Ewing, NJ | 1 | $ 129,000 | $ 129,000 | $ 46,000 |
Mortgage Loan Application Detail Totals for Precision Financial 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 |
|---|---|---|---|---|---|---|
| Refinancing | 1,546 | $390,741,000 | $223,083 | $2,900,000 | $79,500 | $1,020,000 |
| Home Purchase | 359 | $100,509,000 | $317,111 | $1,580,000 | $162,333 | $1,380,000 |
| 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 | 796 | $207,379,000 | $227,454 | $2,900,000 | $96,909 | $1,380,000 |
| Black or African American | 571 | $147,653,000 | $223,909 | $860,000 | $78,909 | $480,000 |
| Not Provided | 261 | $63,237,000 | $231,666 | $735,000 | $71,222 | $480,000 |
| Hispanic | 191 | $48,844,000 | $228,222 | $1,580,000 | $78,000 | $900,000 |
| Asian | 76 | $21,185,000 | $318,833 | $950,000 | $113,666 | $456,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $2,360,000 | $337,000 | $594,000 | $107,000 | $185,000 |
| American Indian or Alaskan Native | 3 | $592,000 | $197,333 | $268,000 | $103,666 | $128,000 |
| 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) | 1,905 | $491,250,000 | $227,583 | $2,900,000 | $88,333 | $1,380,000 |
| 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 | 1,398 | $358,083,000 | $240,545 | $1,960,000 | $88,727 | $1,380,000 |
| Application Withdrawn By Applicant | 363 | $92,419,000 | $219,090 | $2,600,000 | $83,363 | $1,020,000 |
| Application Denied By Financial Institution | 101 | $30,422,000 | $257,222 | $2,900,000 | $103,888 | $900,000 |
| File Closed For Incompleteness | 36 | $8,334,000 | $203,428 | $860,000 | $65,714 | $360,000 |
| Application Approved But Not Accepted | 7 | $1,992,000 | $381,333 | $735,000 | $102,333 | $212,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 2 | $405,000 | $202,000 | $324,000 | $80,000 | $80,000 |
| Unverifiable Information | 1 | $218,000 | $218,000 | $218,000 | $66,000 | $66,000 |
| Credit History | 1 | $452,000 | $452,000 | $452,000 | $80,000 | $80,000 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Precision Financial 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 Precision Financial 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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