Preferred Financial Funding Mortgage Lending & HMDA Data, 2008
In 2008, Preferred Financial Funding of Colton, CA reported 411 mortgage applications totaling $66.0 million, down 10% from 2007. The average application was for $160,520, and applicants reported an average income of $53,026. 24% of its applications resulted in an originated loan and 60% were denied. Its largest markets were Albuquerque, NM (169), Boise City-Nampa, ID (18) and Las Cruces, NM (15) (applications in parentheses).
| Mortgage Company & Address | Preferred Financial Funding 935 S Mt Vernon Avenue Colton, CA 92324 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 |
| Total Number of Mortgage Applications | 411 |
| Total Mortgage Loan Application Amount | $65,974,000 |
| Average Mortgage Loan Application Amount | $160,520 |
| Highest Mortgage Loan Application Amount | $684,000 |
| Average Applicant Income | $53,026 |
| Highest Applicant Income | $261,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Preferred Financial Funding filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Bernalillo, New Mexico | 105 | $ 16,118,000 | $ 153,504 | $ 50,000 |
| Sandoval, New Mexico | 45 | $ 7,078,000 | $ 157,288 | $ 50,000 |
| Valencia, New Mexico | 17 | $ 2,655,000 | $ 156,176 | $ 60,000 |
| Dona Ana, New Mexico | 15 | $ 1,761,000 | $ 117,400 | $ 40,000 |
| Clark, Nevada | 12 | $ 2,485,000 | $ 207,083 | $ 66,000 |
| Santa Fe, New Mexico | 12 | $ 2,630,000 | $ 219,166 | $ 54,000 |
| San Bernardino, California | 10 | $ 1,946,000 | $ 194,600 | $ 53,000 |
| Canyon, Idaho | 10 | $ 1,614,000 | $ 161,400 | $ 54,000 |
| Chaves, New Mexico | 8 | $ 829,000 | $ 103,625 | $ 53,000 |
| Curry, New Mexico | 8 | $ 1,075,000 | $ 134,375 | $ 49,000 |
| San Miguel, New Mexico | 8 | $ 1,276,000 | $ 159,500 | $ 63,000 |
| Bonneville, Idaho | 7 | $ 860,000 | $ 122,857 | $ 47,000 |
| Kootenai, Idaho | 7 | $ 1,206,000 | $ 172,285 | $ 57,000 |
| Otero, New Mexico | 7 | $ 875,000 | $ 125,000 | $ 48,000 |
| Ada, Idaho | 6 | $ 1,023,000 | $ 170,500 | $ 54,000 |
| Bannock, Idaho | 6 | $ 702,000 | $ 117,000 | $ 43,000 |
| Twin Falls, Idaho | 6 | $ 733,000 | $ 122,166 | $ 55,000 |
| Riverside, California | 5 | $ 1,193,000 | $ 238,600 | $ 61,000 |
| Lyon, Nevada | 5 | $ 850,000 | $ 170,000 | $ 46,000 |
| Washoe, Nevada | 5 | $ 1,031,000 | $ 206,200 | $ 54,000 |
| Eddy, New Mexico | 5 | $ 464,000 | $ 92,800 | $ 37,000 |
| Kern, California | 3 | $ 540,000 | $ 180,000 | $ 49,000 |
| Los Angeles, California | 3 | $ 1,010,000 | $ 336,666 | $ 65,000 |
| Bingham, Idaho | 3 | $ 511,000 | $ 170,333 | $ 44,000 |
| Luna, New Mexico | 3 | $ 351,000 | $ 117,000 | $ 43,000 |
| Orange, California | 2 | $ 999,000 | $ 499,500 | $ 101,000 |
| Elmore, Idaho | 2 | $ 366,000 | $ 183,000 | $ 53,000 |
| Gem, Idaho | 2 | $ 396,000 | $ 198,000 | $ 51,000 |
| Jefferson, Idaho | 2 | $ 322,000 | $ 161,000 | $ 48,000 |
| Jerome, Idaho | 2 | $ 263,000 | $ 131,500 | $ 42,000 |
| Minidoka, Idaho | 2 | $ 192,000 | $ 96,000 | $ 39,000 |
| Oneida, Idaho | 2 | $ 236,000 | $ 118,000 | $ 54,000 |
| Teton, Idaho | 2 | $ 268,000 | $ 134,000 | $ 37,000 |
| Lea, New Mexico | 2 | $ 150,000 | $ 75,000 | $ 57,000 |
| San Juan, New Mexico | 2 | $ 336,000 | $ 168,000 | $ 69,000 |
| Torrance, New Mexico | 2 | $ 300,000 | $ 150,000 | $ 58,000 |
| Jackson, Oregon | 2 | $ 492,000 | $ 246,000 | $ 48,000 |
| Klamath, Oregon | 2 | $ 257,000 | $ 128,500 | $ 51,000 |
| Marion, Oregon | 2 | $ 355,000 | $ 177,500 | $ 65,000 |
| Multnomah, Oregon | 2 | $ 435,000 | $ 217,500 | $ 146,000 |
| Union, Oregon | 2 | $ 287,000 | $ 143,500 | $ 52,000 |
| Mendocino, California | 1 | $ 241,000 | $ 241,000 | $ 46,000 |
| Sacramento, California | 1 | $ 281,000 | $ 281,000 | $ 49,000 |
| Santa Clara, California | 1 | $ 181,000 | $ 181,000 | $ 39,000 |
| Solano, California | 1 | $ 170,000 | $ 170,000 | $ 55,000 |
| Stanislaus, California | 1 | $ 279,000 | $ 279,000 | $ 56,000 |
| Tuolumne, California | 1 | $ 266,000 | $ 266,000 | $ 61,000 |
| Adams, Idaho | 1 | $ 123,000 | $ 123,000 | $ 67,000 |
| Benewah, Idaho | 1 | $ 69,000 | $ 69,000 | $ 35,000 |
| Bonner, Idaho | 1 | $ 100,000 | $ 100,000 | $ 81,000 |
| Caribou, Idaho | 1 | $ 135,000 | $ 135,000 | $ 32,000 |
| Cassia, Idaho | 1 | $ 117,000 | $ 117,000 | $ 69,000 |
| Franklin, Idaho | 1 | $ 111,000 | $ 111,000 | $ 12,000 |
| Fremont, Idaho | 1 | $ 135,000 | $ 135,000 | $ 44,000 |
| Gooding, Idaho | 1 | $ 213,000 | $ 213,000 | $ 51,000 |
| Latah, Idaho | 1 | $ 127,000 | $ 127,000 | $ 69,000 |
| Lincoln, Idaho | 1 | $ 174,000 | $ 174,000 | $ 33,000 |
| Madison, Idaho | 1 | $ 197,000 | $ 197,000 | $ 83,000 |
| Nez Perce, Idaho | 1 | $ 116,000 | $ 116,000 | $ 65,000 |
| Payette, Idaho | 1 | $ 121,000 | $ 121,000 | $ 41,000 |
| Washington, Idaho | 1 | $ 145,000 | $ 145,000 | $ 43,000 |
| Elko, Nevada | 1 | $ 174,000 | $ 174,000 | $ 25,000 |
| Cibola, New Mexico | 1 | $ 143,000 | $ 143,000 | $ 27,000 |
| Rio Arriba, New Mexico | 1 | $ 174,000 | $ 174,000 | $ 62,000 |
| Roosevelt, New Mexico | 1 | $ 201,000 | $ 201,000 | $ 43,000 |
| Socorro, New Mexico | 1 | $ 92,000 | $ 92,000 | $ 57,000 |
| Union, New Mexico | 1 | $ 61,000 | $ 61,000 | $ 35,000 |
| Douglas, Oregon | 1 | $ 129,000 | $ 129,000 | $ 44,000 |
| Harney, Oregon | 1 | $ 71,000 | $ 71,000 | $ 43,000 |
| Josephine, Oregon | 1 | $ 130,000 | $ 130,000 | $ 24,000 |
| Polk, Oregon | 1 | $ 140,000 | $ 140,000 | $ 45,000 |
| Washington, Oregon | 1 | $ 121,000 | $ 121,000 | $ 44,000 |
Mortgage Loan Application Detail Totals for Preferred Financial Funding in 2008
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 | 400 | $63,889,000 | $159,000 | $684,000 | $53,000 | $261,000 |
| Home Purchase | 11 | $2,085,000 | $189,000 | $315,000 | $54,000 | $77,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not Provided | 221 | $36,057,000 | $163,000 | $684,000 | $52,000 | $227,000 |
| Hispanic | 106 | $16,100,000 | $151,000 | $326,000 | $47,000 | $137,000 |
| White | 65 | $10,620,000 | $163,000 | $315,000 | $57,000 | $180,000 |
| Black or African American | 13 | $2,223,000 | $171,000 | $249,000 | $62,000 | $105,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $367,000 | $122,000 | $176,000 | $140,000 | $261,000 |
| American Indian or Alaskan Native | 3 | $607,000 | $202,000 | $313,000 | $61,000 | $68,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 397 | $63,265,000 | $159,000 | $334,000 | $53,000 | $261,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 13 | $2,620,000 | $201,000 | $684,000 | $51,000 | $142,000 |
| VA-guaranteed (Veterans Administration) | 1 | $89,000 | $89,000 | $89,000 | $59,000 | $59,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 248 | $41,496,000 | $167,000 | $684,000 | $50,000 | $180,000 |
| Loan Originated | 100 | $14,787,000 | $147,000 | $313,000 | $58,000 | $227,000 |
| Application Withdrawn By Applicant | 63 | $9,691,000 | $153,000 | $315,000 | $53,000 | $261,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 101 | $16,617,000 | $164,000 | $684,000 | $54,000 | $180,000 |
| Debt-To-Income Ratio | 63 | $10,635,000 | $168,000 | $355,000 | $43,000 | $94,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 32 | $5,304,000 | $165,000 | $334,000 | $45,000 | $94,000 |
| Other | 27 | $5,024,000 | $186,000 | $323,000 | $57,000 | $105,000 |
| Employment History | 5 | $774,000 | $154,000 | $202,000 | $42,000 | $58,000 |
| Collateral | 5 | $661,000 | $132,000 | $169,000 | $50,000 | $79,000 |
| Mortgage Insurance Denied | 1 | $159,000 | $159,000 | $159,000 | $27,000 | $27,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Preferred Financial Funding's 2008 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 Preferred Financial Funding'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 California, download the full spreadsheet
with aggregated HMDA statistics today.
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