Q Lending Inc. Mortgage Lending & HMDA Data, 2005
In 2005, Q Lending Inc. of Coral Gables, FL reported 429 mortgage applications totaling $59.6 million. The average application was for $138,841, and applicants reported an average income of $64,461. 25% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Miami-Miami Beach-Kendall, FL (303), Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (60) and West Palm Beach-Boca Raton-Boynton Beach, FL (23) (applications in parentheses).
| Mortgage Company & Address | Q Lending Inc. 2600 S Douglas Rd. Suite 700 Coral Gables, FL 33134 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 |
| Total Number of Mortgage Applications | 429 |
| Total Mortgage Loan Application Amount | $59,563,000 |
| Average Mortgage Loan Application Amount | $138,841 |
| Highest Mortgage Loan Application Amount | $619,000 |
| Average Applicant Income | $64,461 |
| Highest Applicant Income | $384,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Q Lending Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Q Lending 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 | 374 | $50,637,000 | $135,000 | $619,000 | $66,000 | $384,000 |
| Refinancing | 55 | $8,926,000 | $162,000 | $510,000 | $54,000 | $220,000 |
| Home Improvement | 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 |
|---|---|---|---|---|---|---|
| Hispanic | 332 | $45,483,000 | $136,000 | $619,000 | $57,000 | $384,000 |
| White | 64 | $9,794,000 | $153,000 | $528,000 | $74,000 | $257,000 |
| Black or African American | 17 | $1,793,000 | $105,000 | $172,000 | $48,000 | $144,000 |
| Asian | 10 | $1,395,000 | $139,000 | $265,000 | $88,000 | $183,000 |
| Not Provided | 4 | $444,000 | $111,000 | $206,000 | $58,000 | $88,000 |
| American Indian or Alaskan Native | 1 | $537,000 | $537,000 | $537,000 | $280,000 | $280,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $117,000 | $117,000 | $117,000 | $33,000 | $33,000 |
| 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) | 395 | $54,853,000 | $138,000 | $619,000 | $69,000 | $384,000 |
| FHA-insured (Federal Housing Administration) | 33 | $4,576,000 | $138,000 | $243,000 | $50,000 | $88,000 |
| VA-guaranteed (Veterans Administration) | 1 | $134,000 | $134,000 | $134,000 | $35,000 | $35,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 209 | $32,602,000 | $155,000 | $537,000 | $69,000 | $288,000 |
| Loan Originated | 107 | $9,327,000 | $87,000 | $528,000 | $72,000 | $346,000 |
| Application Denied By Financial Institution | 58 | $9,284,000 | $160,000 | $619,000 | $51,000 | $384,000 |
| Application Approved But Not Accepted | 53 | $7,987,000 | $150,000 | $284,000 | $74,000 | $257,000 |
| File Closed For Incompleteness | 1 | $171,000 | $171,000 | $171,000 | $0 | $0 |
| Preapproval Denied by Financial Institution | 1 | $192,000 | $192,000 | $192,000 | $154,000 | $154,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 | 16 | $3,085,000 | $192,000 | $619,000 | $50,000 | $384,000 |
| Collateral | 7 | $1,410,000 | $201,000 | $276,000 | $61,000 | $148,000 |
| Credit History | 5 | $613,000 | $122,000 | $134,000 | $51,000 | $68,000 |
| Debt-To-Income Ratio | 4 | $469,000 | $117,000 | $127,000 | $60,000 | $126,000 |
| Unverifiable Information | 4 | $622,000 | $155,000 | $266,000 | $45,000 | $72,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $507,000 | $126,000 | $179,000 | $34,000 | $71,000 |
| Employment History | 1 | $192,000 | $192,000 | $192,000 | $88,000 | $88,000 |
| 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 Q Lending 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 Q Lending 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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