Priority Funding LLC Mortgage Lending & HMDA Data, 2016
In 2016, Priority Funding LLC of Northboro, MA reported 1,216 mortgage applications totaling $62.5 million, up 3% from 2015. The average application was for $51,384, and applicants reported an average income of $43,396. 0% of its applications resulted in an originated loan and 87% were denied. Its largest markets were Rockingham County-Strafford County, NH (193), Providence-Warwick, RI-MA (109) and Boston, MA (92) (applications in parentheses).
| Mortgage Company & Address | Priority Funding LLC 292 Main Street, Ste G1 Northboro, MA 01532 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 |
| Total Number of Mortgage Applications | 1,216 |
| Total Mortgage Loan Application Amount | $62,483,000 |
| Average Mortgage Loan Application Amount | $51,384 |
| Highest Mortgage Loan Application Amount | $280,000 |
| Average Applicant Income | $43,396 |
| Highest Applicant Income | $935,000 |
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Act (HMDA) records Priority Funding LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2016
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 | 1,151 | $60,015,000 | $52,000 | $280,000 | $43,000 | $935,000 |
| Refinancing | 46 | $2,116,000 | $46,000 | $154,000 | $51,000 | $131,000 |
| Home Improvement | 19 | $352,000 | $18,000 | $70,000 | $49,000 | $106,000 |
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 | 939 | $48,690,000 | $51,000 | $280,000 | $44,000 | $935,000 |
| Not Provided | 141 | $7,197,000 | $51,000 | $174,000 | $42,000 | $180,000 |
| Hispanic | 73 | $3,789,000 | $51,000 | $152,000 | $39,000 | $113,000 |
| Asian | 26 | $1,234,000 | $47,000 | $104,000 | $49,000 | $180,000 |
| Black or African American | 20 | $1,082,000 | $54,000 | $175,000 | $39,000 | $68,000 |
| American Indian or Alaskan Native | 16 | $486,000 | $30,000 | $75,000 | $37,000 | $114,000 |
| Native Hawaiin or Other Pacific Islander | 1 | $5,000 | $5,000 | $5,000 | $29,000 | $29,000 |
| 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) | 1,215 | $62,429,000 | $51,000 | $280,000 | $43,000 | $935,000 |
| FHA-insured (Federal Housing Administration) | 1 | $54,000 | $54,000 | $54,000 | $50,000 | $50,000 |
| 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 | 1,059 | $53,270,000 | $50,000 | $280,000 | $42,000 | $935,000 |
| File Closed For Incompleteness | 115 | $6,314,000 | $54,000 | $157,000 | $45,000 | $240,000 |
| Application Withdrawn By Applicant | 42 | $2,899,000 | $69,000 | $170,000 | $56,000 | $143,000 |
| 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 | 545 | $25,147,000 | $46,000 | $280,000 | $47,000 | $935,000 |
| Debt-To-Income Ratio | 355 | $20,214,000 | $56,000 | $233,000 | $32,000 | $190,000 |
| Collateral | 74 | $3,914,000 | $52,000 | $218,000 | $59,000 | $206,000 |
| Employment History | 32 | $1,231,000 | $38,000 | $121,000 | $30,000 | $80,000 |
| Other | 31 | $1,822,000 | $58,000 | $265,000 | $48,000 | $131,000 |
| Unverifiable Information | 14 | $606,000 | $43,000 | $85,000 | $41,000 | $100,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $95,000 | $31,000 | $48,000 | $55,000 | $80,000 |
| Credit Application Incomplete | 1 | $68,000 | $68,000 | $68,000 | $51,000 | $51,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Priority Funding LLC's 2016 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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