Prosperity Mortgage Company Mortgage Lending & HMDA Data, 2004
In 2004, Prosperity Mortgage Company of Minneapolis, MN reported 3,693 mortgage applications totaling $802.3 million, up 113% from 2003. The average application was for $217,260, and applicants reported an average income of $77,474. 92% of its applications resulted in an originated loan and 0% were denied. Its largest markets were Baltimore-Towson, MD (832), Virginia Beach-Norfolk-Newport News, VA-NC (403) and Richmond, VA (397) (applications in parentheses).
| Mortgage Company & Address | Prosperity Mortgage Company 2701 Wells Fargo Way, Mac X9902-01r Minneapolis, MN 55467 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 3,693 |
| Total Mortgage Loan Application Amount | $802,342,000 |
| Average Mortgage Loan Application Amount | $217,260 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $77,474 |
| Highest Applicant Income | $1,077,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Prosperity Mortgage Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Baltimore-Towson, MD | 832 | $ 154,975,000 | $ 186,268 | $ 72,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 403 | $ 63,114,000 | $ 156,610 | $ 62,000 |
| Richmond, VA | 397 | $ 63,742,000 | $ 160,559 | $ 71,000 |
| Bethesda-Frederick-Gaithersburg, MD | 367 | $ 113,627,000 | $ 309,610 | $ 94,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 115 | $ 54,318,000 | $ 472,330 | $ 134,000 |
| Philadelphia, PA | 82 | $ 18,820,000 | $ 229,512 | $ 88,000 |
| Salisbury, MD | 68 | $ 10,440,000 | $ 153,529 | $ 60,000 |
| York-Hanover, PA | 59 | $ 7,969,000 | $ 135,067 | $ 58,000 |
| Hagerstown-Martinsburg, MD-WV | 44 | $ 7,372,000 | $ 167,545 | $ 66,000 |
| Winchester, VA-WV | 26 | $ 4,724,000 | $ 181,692 | $ 77,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 18 | $ 3,136,000 | $ 174,222 | $ 66,000 |
| Roanoke, VA | 13 | $ 1,691,000 | $ 130,076 | $ 59,000 |
| Camden, NJ | 10 | $ 1,910,000 | $ 191,000 | $ 86,000 |
| Edison, NJ | 5 | $ 1,849,000 | $ 369,800 | $ 138,000 |
| Charlottesville, VA | 4 | $ 744,000 | $ 186,000 | $ 156,000 |
| Ocean City, NJ | 4 | $ 1,786,000 | $ 446,500 | $ 208,000 |
| Wilmington, DE-MD-NJ | 4 | $ 878,000 | $ 219,500 | $ 88,000 |
| Trenton-Ewing, NJ | 3 | $ 526,000 | $ 175,333 | $ 108,000 |
| Atlantic City, NJ | 2 | $ 797,000 | $ 398,500 | $ 393,000 |
| Lynchburg, VA | 2 | $ 225,000 | $ 112,500 | $ 53,000 |
| Morgantown, WV | 2 | $ 125,000 | $ 62,500 | $ 45,000 |
| Atlanta-Sandy Springs-Marietta, GA | 1 | $ 156,000 | $ 156,000 | $ 51,000 |
| Canton-Massillon, OH | 1 | $ 41,000 | $ 41,000 | $ 78,000 |
| Fayetteville, NC | 1 | $ 79,000 | $ 79,000 | $ 0 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 1 | $ 420,000 | $ 420,000 | $ 0 |
| Lakeland, FL | 1 | $ 52,000 | $ 52,000 | $ 63,000 |
| Miami-Miami Beach-Kendall, FL | 1 | $ 375,000 | $ 375,000 | $ 998,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC | 1 | $ 100,000 | $ 100,000 | $ 106,000 |
| Raleigh-Cary, NC | 1 | $ 332,000 | $ 332,000 | $ 99,000 |
| Sarasota-Bradenton-Venice, FL | 1 | $ 150,000 | $ 150,000 | $ 85,000 |
| Scranton--Wilkes-Barre, PA | 1 | $ 91,000 | $ 91,000 | $ 31,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 218,000 | $ 218,000 | $ 901,000 |
| Toledo, OH | 1 | $ 115,000 | $ 115,000 | $ 71,000 |
Mortgage Loan Application Detail Totals for Prosperity Mortgage Company in 2004
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 | 3,011 | $654,451,000 | $228,461 | $2,000,000 | $122,384 | $1,077,000 |
| Refinancing | 681 | $147,726,000 | $233,300 | $1,175,000 | $108,300 | $922,000 |
| Home Improvement | 1 | $165,000 | $165,000 | $165,000 | $58,000 | $58,000 |
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 | 2,440 | $531,119,000 | $215,928 | $1,175,000 | $127,357 | $1,077,000 |
| Not Provided | 537 | $132,899,000 | $230,666 | $2,000,000 | $97,777 | $894,000 |
| Black or African American | 400 | $66,850,000 | $198,833 | $952,000 | $65,500 | $470,000 |
| Hispanic | 216 | $46,233,000 | $222,166 | $1,000,000 | $74,333 | $374,000 |
| Asian | 88 | $21,981,000 | $260,000 | $1,000,000 | $90,500 | $413,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $2,240,000 | $286,000 | $975,000 | $105,000 | $281,000 |
| Not applicable | 3 | $742,000 | $247,333 | $299,000 | $64,666 | $97,000 |
| American Indian or Alaskan Native | 2 | $278,000 | $139,000 | $159,000 | $66,000 | $75,000 |
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) | 2,594 | $624,781,000 | $234,533 | $2,000,000 | $133,266 | $1,077,000 |
| FHA-insured (Federal Housing Administration) | 733 | $116,596,000 | $143,300 | $720,000 | $57,400 | $254,000 |
| VA-guaranteed (Veterans Administration) | 365 | $60,816,000 | $159,714 | $319,000 | $51,714 | $220,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $149,000 | $149,000 | $149,000 | $51,000 | $51,000 |
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 Originated | 3,408 | $742,060,000 | $223,571 | $2,000,000 | $132,000 | $1,077,000 |
| Application Approved But Not Accepted | 180 | $38,365,000 | $182,700 | $875,000 | $82,200 | $442,000 |
| Preapproval Approved but not Accepted | 105 | $21,917,000 | $208,000 | $825,000 | $57,000 | $297,000 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Denied By Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Prosperity Mortgage Company's 2004 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 Prosperity Mortgage Company'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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with aggregated HMDA statistics today.
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