R & G Mortgage Corporation Mortgage Lending & HMDA Data, 2003
In 2003, R & G Mortgage Corporation of San Juan, PR reported 16,796 mortgage applications totaling $1.6 billion. The average application was for $96,414, and applicants reported an average income of $37,644. 51% of its applications resulted in an originated loan and 12% were denied. Its largest markets were San Juan-Bayamon, PR (12,017), Caguas, PR (1,520) and Arecibo, PR (630) (applications in parentheses).
| Mortgage Company & Address | R & G Mortgage Corporation P O Box 362394 San Juan, PR 00936 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 16,796 |
| Total Mortgage Loan Application Amount | $1,619,372,000 |
| Average Mortgage Loan Application Amount | $96,414 |
| Highest Mortgage Loan Application Amount | $1,007,000 |
| Average Applicant Income | $37,644 |
| Highest Applicant Income | $1,225,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records R & G Mortgage Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 R & G Mortgage Corporation in 2003
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 |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 10,842 | $1,017,409,000 | $93,000 | $1,007,000 | $34,000 | $1,225,000 |
| Home Purchase (one-to-four family) | 5,114 | $524,409,000 | $102,000 | $608,000 | $44,000 | $1,029,000 |
| Home Improvement (one-to-four family) | 840 | $77,554,000 | $92,000 | $343,000 | $46,000 | $356,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 16,726 | $1,611,455,000 | $96,000 | $1,007,000 | $40,000 | $1,225,000 |
| White | 25 | $2,960,000 | $118,000 | $309,000 | $61,000 | $117,000 |
| Not applicable | 13 | $1,215,000 | $93,000 | $165,000 | $0 | $0 |
| Information not provided by applicant in mail or telephone application | 12 | $917,000 | $76,000 | $161,000 | $37,000 | $109,000 |
| Asian or Pacific Islander | 9 | $1,210,000 | $134,000 | $225,000 | $71,000 | $237,000 |
| Other | 9 | $1,415,000 | $157,000 | $389,000 | $127,000 | $314,000 |
| Black | 2 | $200,000 | $100,000 | $100,000 | $30,000 | $31,000 |
| American Indian or Alaskan Native | 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) | 12,500 | $1,214,100,000 | $97,000 | $1,007,000 | $48,000 | $1,225,000 |
| FHA-insured (Federal Housing Administration) | 4,062 | $377,399,000 | $92,000 | $273,000 | $25,000 | $474,000 |
| VA-guaranteed (Veterans Administration) | 195 | $24,470,000 | $125,000 | $290,000 | $48,000 | $144,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 39 | $3,403,000 | $87,000 | $146,000 | $33,000 | $85,000 |
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 | 8,502 | $816,380,000 | $96,000 | $1,007,000 | $39,000 | $1,225,000 |
| Application Withdrawn By Applicant | 3,555 | $349,933,000 | $98,000 | $550,000 | $43,000 | $1,029,000 |
| Application Denied By Financial Institution | 2,031 | $190,736,000 | $93,000 | $675,000 | $39,000 | $500,000 |
| File Closed For Incompleteness | 1,696 | $169,036,000 | $99,000 | $530,000 | $42,000 | $792,000 |
| Application Approved But Not Accepted | 999 | $92,072,000 | $92,000 | $469,000 | $39,000 | $566,000 |
| Loan Purchased By The Institution | 13 | $1,215,000 | $93,000 | $165,000 | $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 R & G Mortgage Corporation's 2003 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 R & G Mortgage Corporation'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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