Preferred Financial Group, Inc Mortgage Lending & HMDA Data, 2005
In 2005, Preferred Financial Group, Inc of Burlingame, CA reported 3,421 mortgage applications totaling $1.0 billion, up 124% from 2004. The average application was for $306,095, and applicants reported an average income of $161,602. 30% of its applications resulted in an originated loan and 2% were denied. Its largest markets were San Francisco-San Mateo-Redwood City, CA (594), Sacramento--Arden-Arcade--Roseville, CA (579) and Oakland-Fremont-Hayward, CA (336) (applications in parentheses).
| Mortgage Company & Address | Preferred Financial Group, Inc 1350 Bayshore Highway, Suite 630 Burlingame, CA 94010 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 3,421 |
| Total Mortgage Loan Application Amount | $1,047,152,000 |
| Average Mortgage Loan Application Amount | $306,095 |
| Highest Mortgage Loan Application Amount | $1,999,000 |
| Average Applicant Income | $161,602 |
| Highest Applicant Income | $1,903,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Preferred Financial Group, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| San Francisco-San Mateo-Redwood City, CA | 594 | $ 273,751,000 | $ 460,860 | $ 194,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 579 | $ 135,634,000 | $ 234,255 | $ 136,000 |
| Oakland-Fremont-Hayward, CA | 336 | $ 106,022,000 | $ 315,541 | $ 151,000 |
| Los Angeles-Long Beach-Glendale, CA | 304 | $ 117,009,000 | $ 384,898 | $ 198,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 163 | $ 66,065,000 | $ 405,306 | $ 179,000 |
| Las Vegas-Paradise, NV | 144 | $ 24,031,000 | $ 166,881 | $ 152,000 |
| Riverside-San Bernardino-Ontario, CA | 129 | $ 33,568,000 | $ 260,217 | $ 143,000 |
| Phoenix-Mesa-Scottsdale, AZ | 113 | $ 20,498,000 | $ 181,398 | $ 134,000 |
| San Diego-Carlsbad-San Marcos, CA | 89 | $ 29,306,000 | $ 329,280 | $ 160,000 |
| Stockton, CA | 82 | $ 18,500,000 | $ 225,609 | $ 136,000 |
| Vallejo-Fairfield, CA | 76 | $ 18,916,000 | $ 248,894 | $ 116,000 |
| Santa Ana-Anaheim-Irvine, CA | 60 | $ 24,673,000 | $ 411,216 | $ 164,000 |
| Napa, CA | 51 | $ 18,783,000 | $ 368,294 | $ 184,000 |
| Portland-Vancouver-Beaverton, OR-WA | 38 | $ 4,849,000 | $ 127,605 | $ 135,000 |
| Santa Rosa-Petaluma, CA | 35 | $ 13,155,000 | $ 375,857 | $ 175,000 |
| Fresno, CA | 32 | $ 5,211,000 | $ 162,843 | $ 108,000 |
| Seattle-Bellevue-Everett, WA | 32 | $ 5,177,000 | $ 161,781 | $ 139,000 |
| Merced, CA | 26 | $ 4,471,000 | $ 171,961 | $ 134,000 |
| Bakersfield, CA | 24 | $ 4,534,000 | $ 188,916 | $ 270,000 |
| Salinas, CA | 24 | $ 11,199,000 | $ 466,625 | $ 154,000 |
| Modesto, CA | 21 | $ 5,552,000 | $ 264,380 | $ 127,000 |
| Chicago-Naperville-Joliet, IL | 18 | $ 3,115,000 | $ 173,055 | $ 132,000 |
| Tucson, AZ | 18 | $ 2,005,000 | $ 111,388 | $ 106,000 |
| Reno-Sparks, NV | 15 | $ 2,902,000 | $ 193,466 | $ 122,000 |
| Yuba City, CA | 14 | $ 2,206,000 | $ 157,571 | $ 104,000 |
| Chico, CA | 12 | $ 1,518,000 | $ 126,500 | $ 135,000 |
| Kansas City, MO-KS | 12 | $ 1,315,000 | $ 109,583 | $ 116,000 |
| Santa Cruz-Watsonville, CA | 12 | $ 5,973,000 | $ 497,750 | $ 188,000 |
| Honolulu, HI | 11 | $ 3,914,000 | $ 355,818 | $ 283,000 |
| Kennewick-Richland-Pasco, WA | 11 | $ 840,000 | $ 76,363 | $ 142,000 |
| Redding, CA | 11 | $ 2,043,000 | $ 185,727 | $ 99,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 9 | $ 4,018,000 | $ 446,444 | $ 412,000 |
| Salem, OR | 9 | $ 1,519,000 | $ 168,777 | $ 121,000 |
| Spokane, WA | 9 | $ 787,000 | $ 87,444 | $ 142,000 |
| Tacoma, WA | 9 | $ 1,202,000 | $ 133,555 | $ 61,000 |
| Provo-Orem, UT | 7 | $ 1,954,000 | $ 279,142 | $ 215,000 |
| Santa Barbara-Santa Maria-Goleta, CA | 7 | $ 3,912,000 | $ 558,857 | $ 209,000 |
| Visalia-Porterville, CA | 7 | $ 1,238,000 | $ 176,857 | $ 166,000 |
| Boise City-Nampa, ID | 6 | $ 558,000 | $ 93,000 | $ 174,000 |
| Ogden-Clearfield, UT | 6 | $ 314,000 | $ 52,333 | $ 69,000 |
| Salt Lake City, UT | 5 | $ 536,000 | $ 107,200 | $ 120,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 4 | $ 1,025,000 | $ 256,250 | $ 233,000 |
| Denver-Aurora, CO | 4 | $ 1,735,000 | $ 433,750 | $ 249,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 4 | $ 4,289,000 | $ 1,072,250 | $ 666,000 |
| Miami-Miami Beach-Kendall, FL | 4 | $ 1,481,000 | $ 370,250 | $ 170,000 |
| Naples-Marco Island, FL | 4 | $ 1,558,000 | $ 389,500 | $ 231,000 |
| Cape Coral-Fort Myers, FL | 3 | $ 443,000 | $ 147,666 | $ 234,000 |
| Coeur D'Alene, ID | 3 | $ 216,000 | $ 72,000 | $ 130,000 |
| Hanford-Corcoran, CA | 3 | $ 358,000 | $ 119,333 | $ 133,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 3 | $ 1,998,000 | $ 666,000 | $ 351,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 3 | $ 1,390,000 | $ 463,333 | $ 348,000 |
| Albany-Schenectady-Troy, NY | 2 | $ 286,000 | $ 143,000 | $ 64,000 |
| Austin-Round Rock, TX | 2 | $ 128,000 | $ 64,000 | $ 101,000 |
| Carson City, NV | 2 | $ 185,000 | $ 92,500 | $ 100,000 |
| Houston-Baytown-Sugar Land, TX | 2 | $ 156,000 | $ 78,000 | $ 56,000 |
| Little Rock-North Little Rock, AR | 2 | $ 694,000 | $ 347,000 | $ 457,000 |
| Longview, WA | 2 | $ 270,000 | $ 135,000 | $ 35,000 |
| Medford, OR | 2 | $ 232,000 | $ 116,000 | $ 97,000 |
| New York-Wayne-White Plains, NY-NJ | 2 | $ 600,000 | $ 300,000 | $ 126,000 |
| Peoria, IL | 2 | $ 64,000 | $ 32,000 | $ 37,000 |
| Pueblo, CO | 2 | $ 105,000 | $ 52,500 | $ 118,000 |
| Yakima, WA | 2 | $ 171,000 | $ 85,500 | $ 84,000 |
| Bend, OR | 1 | $ 104,000 | $ 104,000 | $ 180,000 |
| Bremerton-Silverdale, WA | 1 | $ 36,000 | $ 36,000 | $ 38,000 |
| Columbia, SC | 1 | $ 100,000 | $ 100,000 | $ 46,000 |
| El Centro, CA | 1 | $ 96,000 | $ 96,000 | $ 0 |
| Jacksonville, FL | 1 | $ 154,000 | $ 154,000 | $ 39,000 |
| Madera, CA | 1 | $ 170,000 | $ 170,000 | $ 900,000 |
| Mount Vernon-Anacortes, WA | 1 | $ 130,000 | $ 130,000 | $ 90,000 |
| Nassau-Suffolk, NY | 1 | $ 540,000 | $ 540,000 | $ 90,000 |
| San Luis Obispo-Paso Robles, CA | 1 | $ 910,000 | $ 910,000 | $ 360,000 |
| Sarasota-Bradenton-Venice, FL | 1 | $ 1,999,000 | $ 1,999,000 | $ 1,214,000 |
Mortgage Loan Application Detail Totals for Preferred Financial Group, 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 Purchase | 2,282 | $616,763,000 | $202,312 | $1,999,000 | $174,562 | $1,462,000 |
| Refinancing | 939 | $357,163,000 | $475,375 | $1,999,000 | $260,875 | $1,903,000 |
| Home Improvement | 200 | $73,226,000 | $540,000 | $1,999,000 | $250,166 | $1,041,000 |
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 | 1,765 | $566,471,000 | $268,666 | $1,999,000 | $220,222 | $1,903,000 |
| Hispanic | 715 | $196,824,000 | $224,555 | $1,999,000 | $162,888 | $900,000 |
| Asian | 603 | $187,984,000 | $197,000 | $1,999,000 | $140,000 | $993,000 |
| Black or African American | 181 | $45,468,000 | $154,000 | $1,820,000 | $116,333 | $600,000 |
| Native Hawaiian or Other Pacific Islander | 74 | $21,476,000 | $348,600 | $1,260,000 | $265,200 | $658,000 |
| Not Provided | 64 | $22,708,000 | $193,428 | $1,554,000 | $87,285 | $540,000 |
| American Indian or Alaskan Native | 11 | $2,968,000 | $198,500 | $540,000 | $181,500 | $568,000 |
| Not applicable | 8 | $3,253,000 | $458,500 | $948,000 | $224,000 | $297,000 |
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) | 3,421 | $1,047,152,000 | $246,944 | $1,999,000 | $206,111 | $1,903,000 |
| 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 Purchased By The Institution | 1,204 | $313,202,000 | $344,642 | $1,999,000 | $267,928 | $1,462,000 |
| Application Approved But Not Accepted | 1,105 | $356,771,000 | $250,058 | $1,999,000 | $193,411 | $1,903,000 |
| Loan Originated | 1,040 | $346,131,000 | $231,214 | $1,900,000 | $177,428 | $1,462,000 |
| Application Denied By Financial Institution | 72 | $31,048,000 | $578,714 | $1,999,000 | $333,285 | $1,214,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 22 | $10,405,000 | $367,000 | $1,999,000 | $185,333 | $891,000 |
| Collateral | 12 | $4,035,000 | $344,000 | $1,000,000 | $216,666 | $410,000 |
| Other | 11 | $4,772,000 | $433,000 | $926,000 | $156,000 | $330,000 |
| Debt-To-Income Ratio | 10 | $2,945,000 | $299,666 | $1,100,000 | $184,000 | $500,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $3,384,000 | $676,000 | $1,999,000 | $187,000 | $400,000 |
| Unverifiable Information | 4 | $3,159,000 | $1,192,500 | $1,999,000 | $668,000 | $1,214,000 |
| Employment History | 3 | $459,000 | $153,000 | $248,000 | $112,000 | $132,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Preferred Financial Group, 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 Preferred Financial 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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