Priority Funding, LLC Mortgage Lending & HMDA Data, 2018
In 2018, Priority Funding, LLC of Northboro, MA reported 1,616 mortgage applications totaling $95.7 million, up 16% from 2017. The average application was for $59,214, and applicants reported an average income of $50,717. 0% of its applications resulted in an originated loan and 82% were denied. Its largest markets were Rockingham County-Strafford County, NH (209), Providence-Warwick, RI-MA (129) and New York-Jersey City-White Plains, NY-NJ (113) (applications in parentheses).
| Mortgage Company & Address | Priority Funding, LLC 292 Main Street, Suite G1 Northboro, MA 01532 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2020 2019 2018 2017 |
| Total Number of Mortgage Applications | 1,616 |
| Total Mortgage Loan Application Amount | $95,690,000 |
| Average Mortgage Loan Application Amount | $59,214 |
| Highest Mortgage Loan Application Amount | $545,000 |
| Average Applicant Income | $50,717 |
| Highest Applicant Income | $624,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Priority Funding, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Priority Funding, LLC in 2018
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 | 1,527 | $91,845,000 | $60,000 | $545,000 | $51,000 | $624,000 |
| Refinancing | 82 | $3,610,000 | $44,000 | $135,000 | $45,000 | $133,000 |
| Other Purpose | 5 | $185,000 | $37,000 | $55,000 | $46,000 | $65,000 |
| Home Improvement | 2 | $50,000 | $25,000 | $25,000 | $81,000 | $81,000 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 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 | 1,278 | $75,370,000 | $58,000 | $545,000 | $52,000 | $624,000 |
| Hispanic | 165 | $9,975,000 | $60,000 | $165,000 | $48,000 | $145,000 |
| Not Provided | 74 | $4,190,000 | $56,000 | $135,000 | $46,000 | $124,000 |
| Black or African American | 55 | $3,135,000 | $57,000 | $175,000 | $35,000 | $103,000 |
| Asian | 23 | $1,635,000 | $71,000 | $125,000 | $48,000 | $89,000 |
| American Indian or Alaskan Native | 18 | $1,240,000 | $68,000 | $175,000 | $45,000 | $108,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $145,000 | $48,000 | $55,000 | $30,000 | $41,000 |
| 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) | 1,616 | $95,690,000 | $59,000 | $545,000 | $51,000 | $624,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 1,326 | $76,350,000 | $57,000 | $205,000 | $49,000 | $468,000 |
| File Closed For Incompleteness | 200 | $13,080,000 | $65,000 | $545,000 | $59,000 | $624,000 |
| Application Withdrawn By Applicant | 90 | $6,260,000 | $69,000 | $205,000 | $61,000 | $240,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Originated | 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 | 764 | $43,640,000 | $57,000 | $175,000 | $51,000 | $468,000 |
| Debt-To-Income Ratio | 407 | $24,315,000 | $59,000 | $205,000 | $39,000 | $213,000 |
| Not applicable | 290 | $19,340,000 | $66,000 | $545,000 | $60,000 | $624,000 |
| Collateral | 49 | $3,165,000 | $64,000 | $175,000 | $82,000 | $267,000 |
| Other | 48 | $1,620,000 | $33,000 | $145,000 | $53,000 | $255,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 27 | $1,925,000 | $71,000 | $135,000 | $46,000 | $106,000 |
| Employment History | 18 | $960,000 | $53,000 | $135,000 | $48,000 | $167,000 |
| Unverifiable Information | 13 | $725,000 | $55,000 | $135,000 | $66,000 | $234,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Priority Funding, LLC's 2018 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 Priority Funding, LLC'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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