Prime Mortgage USA Inc Mortgage Lending & HMDA Data, 2005
In 2005, Prime Mortgage USA Inc of Indianapolis, IN reported 508 mortgage applications totaling $54.2 million, down 12% from 2004. The average application was for $106,657, and applicants reported an average income of $51,753. 0% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Indianapolis, IN (338), Michigan City-La Porte, IN (28) and Nashville-Davidson--Murfreesboro, TN (27) (applications in parentheses).
| Mortgage Company & Address | Prime Mortgage USA Inc 1811 North Meridian Street Indianapolis, IN 46202 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 508 |
| Total Mortgage Loan Application Amount | $54,182,000 |
| Average Mortgage Loan Application Amount | $106,657 |
| Highest Mortgage Loan Application Amount | $528,000 |
| Average Applicant Income | $51,753 |
| Highest Applicant Income | $600,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Prime Mortgage USA Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Prime Mortgage USA 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 | 446 | $47,569,000 | $210,750 | $528,000 | $107,750 | $300,000 |
| Refinancing | 60 | $6,442,000 | $132,250 | $325,000 | $60,250 | $600,000 |
| Home Improvement | 2 | $171,000 | $85,000 | $116,000 | $26,000 | $52,000 |
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 | 355 | $38,127,000 | $115,750 | $359,000 | $55,750 | $600,000 |
| Hispanic | 79 | $7,945,000 | $206,500 | $528,000 | $105,250 | $300,000 |
| Black or African American | 63 | $6,659,000 | $110,333 | $178,000 | $42,000 | $109,000 |
| Asian | 4 | $582,000 | $155,000 | $182,000 | $71,500 | $93,000 |
| American Indian or Alaskan Native | 3 | $368,000 | $122,666 | $178,000 | $38,666 | $60,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $206,000 | $103,000 | $132,000 | $57,000 | $84,000 |
| Not Provided | 2 | $295,000 | $147,000 | $153,000 | $50,000 | $55,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 443 | $45,933,000 | $115,750 | $203,000 | $52,250 | $231,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 38 | $4,784,000 | $240,666 | $528,000 | $147,000 | $600,000 |
| VA-guaranteed (Veterans Administration) | 27 | $3,465,000 | $128,000 | $229,000 | $48,000 | $106,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Purchased By The Institution | 492 | $52,604,000 | $164,250 | $528,000 | $82,250 | $600,000 |
| Application Denied By Financial Institution | 13 | $1,260,000 | $96,000 | $132,000 | $40,000 | $66,000 |
| Application Withdrawn By Applicant | 1 | $95,000 | $95,000 | $95,000 | $28,000 | $28,000 |
| Application Approved But Not Accepted | 1 | $133,000 | $133,000 | $133,000 | $107,000 | $107,000 |
| Loan Originated | 1 | $90,000 | $90,000 | $90,000 | $54,000 | $54,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 6 | $613,000 | $102,000 | $126,000 | $40,000 | $66,000 |
| Credit History | 3 | $274,000 | $91,000 | $106,000 | $41,000 | $58,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $188,000 | $94,000 | $100,000 | $41,000 | $50,000 |
| Unverifiable Information | 1 | $53,000 | $53,000 | $53,000 | $33,000 | $33,000 |
| Employment History | 1 | $132,000 | $132,000 | $132,000 | $44,000 | $44,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 Prime Mortgage USA 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 Prime Mortgage USA 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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