R & G Mortgage Corporation Mortgage Lending & HMDA Data, 2007
In 2007, R & G Mortgage Corporation of San Juan, PR reported 17,090 mortgage applications totaling $2.0 billion, down 5% from 2006. The average application was for $117,408, and applicants reported an average income of $51,684. 26% of its applications resulted in an originated loan and 29% were denied. Its largest markets were San Juan-Caguas-Guaynabo, PR (12,854), Ponce, PR (1,036) and Aguadilla-Isabela-San Sebastian, PR (596) (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 | 17,090 |
| Total Mortgage Loan Application Amount | $2,006,505,000 |
| Average Mortgage Loan Application Amount | $117,408 |
| Highest Mortgage Loan Application Amount | $3,690,000 |
| Average Applicant Income | $51,684 |
| Highest Applicant Income | $9,999,000 |
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records R & G Mortgage Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2007
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 | 8,721 | $937,312,000 | $107,000 | $2,248,000 | $48,000 | $1,688,000 |
| Home Purchase | 7,704 | $1,005,783,000 | $130,000 | $3,690,000 | $56,000 | $9,999,000 |
| Home Improvement | 665 | $63,410,000 | $95,000 | $1,050,000 | $50,000 | $660,000 |
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 | 16,750 | $1,951,816,000 | $116,000 | $3,690,000 | $50,000 | $3,144,000 |
| White | 204 | $27,020,000 | $132,000 | $1,000,000 | $63,000 | $792,000 |
| Not applicable | 77 | $19,853,000 | $257,000 | $1,800,000 | $384,000 | $9,999,000 |
| Not Provided | 32 | $3,746,000 | $117,000 | $276,000 | $53,000 | $192,000 |
| Black or African American | 21 | $2,912,000 | $138,000 | $325,000 | $71,000 | $236,000 |
| Asian | 6 | $1,158,000 | $193,000 | $310,000 | $179,000 | $720,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 15,439 | $1,819,660,000 | $117,000 | $3,690,000 | $53,000 | $9,999,000 |
| FHA-insured (Federal Housing Administration) | 1,125 | $128,424,000 | $114,000 | $251,000 | $41,000 | $169,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 430 | $45,500,000 | $105,000 | $244,000 | $34,000 | $108,000 |
| VA-guaranteed (Veterans Administration) | 96 | $12,921,000 | $134,000 | $390,000 | $49,000 | $121,000 |
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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 4,904 | $599,034,000 | $122,000 | $3,690,000 | $53,000 | $9,999,000 |
| Loan Originated | 4,375 | $484,000,000 | $110,000 | $575,000 | $46,000 | $626,000 |
| Application Withdrawn By Applicant | 4,298 | $508,276,000 | $118,000 | $1,600,000 | $53,000 | $1,688,000 |
| File Closed For Incompleteness | 3,051 | $358,011,000 | $117,000 | $2,700,000 | $57,000 | $9,999,000 |
| Application Approved But Not Accepted | 420 | $50,394,000 | $119,000 | $700,000 | $57,000 | $1,016,000 |
| Loan Purchased By The Institution | 42 | $6,790,000 | $161,000 | $805,000 | $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 2007 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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