R & G Mortgage Corporation Mortgage Lending & HMDA Data, 2005
In 2005, R & G Mortgage Corporation of San Juan, PR reported 16,361 mortgage applications totaling $1.7 billion, up 4% from 2004. The average application was for $102,069, and applicants reported an average income of $40,047. 35% of its applications resulted in an originated loan and 19% were denied. Its largest markets were San Juan-Caguas-Guaynabo, PR (12,838), Ponce, PR (689) and Fajardo, PR (572) (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 | 16,361 |
| Total Mortgage Loan Application Amount | $1,669,962,000 |
| Average Mortgage Loan Application Amount | $102,069 |
| Highest Mortgage Loan Application Amount | $2,240,000 |
| Average Applicant Income | $40,047 |
| Highest Applicant Income | $2,000,000 |
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records R & G Mortgage Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 |
|---|---|---|---|---|---|---|
| Refinancing | 9,613 | $912,911,000 | $94,000 | $2,240,000 | $36,000 | $2,000,000 |
| Home Purchase | 6,121 | $694,807,000 | $113,000 | $2,240,000 | $46,000 | $1,819,000 |
| Home Improvement | 627 | $62,244,000 | $99,000 | $750,000 | $44,000 | $500,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 16,038 | $1,626,358,000 | $101,000 | $2,240,000 | $38,000 | $2,000,000 |
| Not Provided | 148 | $14,408,000 | $97,000 | $542,000 | $39,000 | $300,000 |
| White | 134 | $16,669,000 | $124,000 | $750,000 | $63,000 | $592,000 |
| Not applicable | 24 | $10,209,000 | $425,000 | $2,240,000 | $236,000 | $756,000 |
| Black or African American | 11 | $1,175,000 | $106,000 | $460,000 | $45,000 | $132,000 |
| Asian | 5 | $607,000 | $121,000 | $233,000 | $86,000 | $215,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $536,000 | $536,000 | $536,000 | $480,000 | $480,000 |
| 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) | 14,313 | $1,482,379,000 | $103,000 | $2,240,000 | $50,000 | $2,000,000 |
| FHA-insured (Federal Housing Administration) | 1,674 | $147,977,000 | $88,000 | $280,000 | $24,000 | $1,819,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 188 | $17,565,000 | $93,000 | $200,000 | $32,000 | $158,000 |
| VA-guaranteed (Veterans Administration) | 186 | $22,041,000 | $118,000 | $266,000 | $31,000 | $114,000 |
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 | 5,787 | $564,912,000 | $97,000 | $789,000 | $39,000 | $839,000 |
| Application Withdrawn By Applicant | 4,475 | $487,183,000 | $108,000 | $2,240,000 | $47,000 | $2,000,000 |
| Application Denied By Financial Institution | 3,030 | $307,049,000 | $101,000 | $2,240,000 | $41,000 | $1,008,000 |
| File Closed For Incompleteness | 2,306 | $232,486,000 | $100,000 | $1,500,000 | $40,000 | $1,000,000 |
| Application Approved But Not Accepted | 760 | $78,189,000 | $102,000 | $850,000 | $45,000 | $1,347,000 |
| Loan Purchased By The Institution | 3 | $143,000 | $47,000 | $70,000 | $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 |
|---|---|---|---|---|---|---|
| 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 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 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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