Rescue Mortgage Inc Mortgage Lending & HMDA Data, 2015
In 2015, Rescue Mortgage Inc of Bloomington, MN reported 453 mortgage applications totaling $71.8 million, down 20% from 2014. The average application was for $158,481, and applicants reported an average income of $68,370. 74% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (196), Madison, WI (56) and Des Moines-West Des Moines, IA (14) (applications in parentheses).
| Mortgage Company & Address | Rescue Mortgage Inc 10740 Lyndale Ave S, Suite 19e Bloomington, MN 55420 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2015 2014 2013 2012 2011 2010 |
| Total Number of Mortgage Applications | 453 |
| Total Mortgage Loan Application Amount | $71,792,000 |
| Average Mortgage Loan Application Amount | $158,481 |
| Highest Mortgage Loan Application Amount | $398,000 |
| Average Applicant Income | $68,370 |
| Highest Applicant Income | $429,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Rescue Mortgage Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | 196 | $ 36,855,000 | $ 188,035 | $ 75,000 |
| Madison, WI | 56 | $ 10,689,000 | $ 190,875 | $ 98,000 |
| Des Moines-West Des Moines, IA | 14 | $ 1,962,000 | $ 140,142 | $ 60,000 |
| Duluth, MN-WI | 10 | $ 950,000 | $ 95,000 | $ 57,200 |
| Mankato-North Mankato, MN | 9 | $ 1,403,000 | $ 155,888 | $ 69,000 |
| Sioux City, IA-NE-SD | 3 | $ 295,000 | $ 98,333 | $ 53,000 |
| St. Cloud, MN | 3 | $ 512,000 | $ 170,666 | $ 60,000 |
| Rochester, MN | 2 | $ 172,000 | $ 86,000 | $ 27,000 |
| Ames, IA | 1 | $ 166,000 | $ 166,000 | $ 71,000 |
| Eau Claire, WI | 1 | $ 111,000 | $ 111,000 | $ 37,000 |
| Janesville-Beloit, WI | 1 | $ 124,000 | $ 124,000 | $ 33,000 |
| Milwaukee-Waukesha-West Allis, WI | 1 | $ 294,000 | $ 294,000 | $ 135,000 |
Mortgage Loan Application Detail Totals for Rescue Mortgage Inc in 2015
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 | 394 | $60,451,000 | $153,000 | $398,000 | $62,000 | $273,000 |
| Refinancing | 58 | $11,265,000 | $194,000 | $381,000 | $112,000 | $429,000 |
| Home Improvement | 1 | $76,000 | $76,000 | $76,000 | $48,000 | $48,000 |
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 | 392 | $62,043,000 | $158,000 | $398,000 | $70,000 | $429,000 |
| Asian | 27 | $4,490,000 | $166,000 | $325,000 | $57,000 | $141,000 |
| Hispanic | 15 | $2,040,000 | $136,000 | $261,000 | $48,000 | $87,000 |
| Not Provided | 12 | $2,203,000 | $183,000 | $318,000 | $68,000 | $128,000 |
| Black or African American | 5 | $711,000 | $142,000 | $167,000 | $56,000 | $81,000 |
| American Indian or Alaskan Native | 2 | $305,000 | $152,000 | $244,000 | $64,000 | $67,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 206 | $28,204,000 | $136,000 | $324,000 | $53,000 | $118,000 |
| FHA-insured (Federal Housing Administration) | 174 | $27,138,000 | $155,000 | $328,000 | $64,000 | $174,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 71 | $16,035,000 | $225,000 | $398,000 | $124,000 | $429,000 |
| VA-guaranteed (Veterans Administration) | 2 | $415,000 | $207,000 | $279,000 | $77,000 | $105,000 |
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 | 337 | $54,005,000 | $160,000 | $381,000 | $70,000 | $429,000 |
| Application Withdrawn By Applicant | 69 | $10,660,000 | $154,000 | $398,000 | $67,000 | $423,000 |
| Application Denied By Financial Institution | 46 | $7,075,000 | $153,000 | $360,000 | $61,000 | $144,000 |
| File Closed For Incompleteness | 1 | $52,000 | $52,000 | $52,000 | $17,000 | $17,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $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 |
|---|---|---|---|---|---|---|
| Credit History | 14 | $2,148,000 | $153,000 | $324,000 | $62,000 | $118,000 |
| Collateral | 12 | $2,032,000 | $169,000 | $360,000 | $69,000 | $144,000 |
| Other | 7 | $925,000 | $132,000 | $204,000 | $58,000 | $80,000 |
| Employment History | 5 | $713,000 | $142,000 | $193,000 | $56,000 | $104,000 |
| Debt-To-Income Ratio | 3 | $619,000 | $206,000 | $255,000 | $48,000 | $72,000 |
| Credit Application Incomplete | 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 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Rescue Mortgage Inc's 2015 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 Rescue Mortgage 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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