Residential Acceptance Corporation. Rac. Mortgage Lending & HMDA Data, 2024
In 2024, Residential Acceptance Corporation. Rac. of Tampa, FL reported 615 mortgage applications totaling $184.3 million. The average application was for $299,699, and applicants reported an average income of $93,152. 92% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Tampa, FL (218), Baton Rouge, LA (116) and Atlanta-Sandy Springs-Roswell, GA (38) (applications in parentheses).
| Mortgage Company & Address | Residential Acceptance Corporation. Rac. 5027 W Laurel St Tampa, FL 33607 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2024 2020 |
| Total Number of Mortgage Applications | 615 |
| Total Mortgage Loan Application Amount | $184,315,000 |
| Average Mortgage Loan Application Amount | $299,699 |
| Highest Mortgage Loan Application Amount | $765,000 |
| Average Applicant Income | $93,152 |
| Highest Applicant Income | $244,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Residential Acceptance Corporation. Rac. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Residential Acceptance Corporation. Rac. in 2024
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 | 596 | $179,460,000 | $301,000 | $765,000 | $94,000 | $244,000 |
| Refinancing | 14 | $3,740,000 | $267,000 | $505,000 | $75,000 | $176,000 |
| Cash-out Refinancing | 5 | $1,115,000 | $223,000 | $315,000 | $43,000 | $85,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | 278 | $98,960,000 | $355,000 | $765,000 | $103,000 | $218,000 |
| Black or African American | 239 | $59,905,000 | $250,000 | $725,000 | $85,000 | $244,000 |
| White | 74 | $18,200,000 | $245,000 | $505,000 | $80,000 | $203,000 |
| Not Provided | 19 | $5,755,000 | $302,000 | $515,000 | $98,000 | $188,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $710,000 | $355,000 | $455,000 | $101,000 | $124,000 |
| Asian | 2 | $690,000 | $345,000 | $365,000 | $127,000 | $140,000 |
| American Indian or Alaskan Native | 1 | $95,000 | $95,000 | $95,000 | $46,000 | $46,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 529 | $160,805,000 | $303,000 | $665,000 | $94,000 | $244,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 44 | $9,590,000 | $217,000 | $385,000 | $85,000 | $159,000 |
| VA-guaranteed (Veterans Administration) | 27 | $9,715,000 | $359,000 | $765,000 | $111,000 | $234,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 15 | $4,205,000 | $280,000 | $535,000 | $65,000 | $180,000 |
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 | 565 | $170,725,000 | $302,000 | $765,000 | $95,000 | $244,000 |
| Application Denied By Financial Institution | 23 | $5,155,000 | $224,000 | $385,000 | $62,000 | $113,000 |
| Application Withdrawn By Applicant | 22 | $6,770,000 | $307,000 | $545,000 | $88,000 | $203,000 |
| Preapproval Approved but not Accepted | 5 | $1,665,000 | $333,000 | $485,000 | $89,000 | $123,000 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Not applicable | 592 | $179,160,000 | $302,000 | $765,000 | $94,000 | $244,000 |
| Credit History | 10 | $1,980,000 | $198,000 | $385,000 | $58,000 | $92,000 |
| Debt-To-Income Ratio | 10 | $2,220,000 | $222,000 | $385,000 | $58,000 | $98,000 |
| Collateral | 1 | $335,000 | $335,000 | $335,000 | $113,000 | $113,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $385,000 | $385,000 | $385,000 | $98,000 | $98,000 |
| Unverifiable Information | 1 | $235,000 | $235,000 | $235,000 | $60,000 | $60,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Residential Acceptance Corporation. Rac.'s 2024 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 Residential Acceptance Corporation. Rac.'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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