Residential Funding Corp. LLC Mortgage Lending & HMDA Data, 2007
In 2007, Residential Funding Corp. LLC of Ft. Washington, PA reported 154,087 mortgage applications totaling $31.4 billion, down 69% from 2006. The average application was for $203,545, and applicants reported an average income of $1,594. 0% of its applications resulted in an originated loan and 0% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (6,923), Riverside-San Bernardino-Ontario, CA (5,569) and Phoenix-Mesa-Scottsdale, AZ (5,045) (applications in parentheses).
| Mortgage Company & Address | Residential Funding Corp. LLC 1100 Virginia Drive Ft. Washington, PA 19034 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 154,087 |
| Total Mortgage Loan Application Amount | $31,363,771,000 |
| Average Mortgage Loan Application Amount | $203,545 |
| Highest Mortgage Loan Application Amount | $6,700,000 |
| Average Applicant Income | $1,594 |
| Highest Applicant Income | $4,800,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Residential Funding Corp. LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Funding Corp. LLC 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 | 92,102 | $20,244,641,000 | $219,000 | $6,700,000 | $2,000 | $3,240,000 |
| Home Purchase | 61,463 | $10,995,505,000 | $178,000 | $4,480,000 | $1,000 | $4,800,000 |
| Home Improvement | 522 | $123,625,000 | $236,000 | $2,943,000 | $0 | $290,000 |
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 |
|---|---|---|---|---|---|---|
| Not applicable | 152,655 | $30,850,904,000 | $202,000 | $4,220,000 | $0 | $142,000 |
| White | 799 | $314,928,000 | $394,000 | $6,700,000 | $217,000 | $4,800,000 |
| Not Provided | 245 | $80,949,000 | $330,000 | $4,480,000 | $178,000 | $1,509,000 |
| Hispanic | 167 | $47,409,000 | $283,000 | $2,030,000 | $140,000 | $792,000 |
| Black or African American | 140 | $30,048,000 | $214,000 | $1,147,000 | $112,000 | $468,000 |
| Asian | 70 | $32,423,000 | $463,000 | $2,950,000 | $249,000 | $1,800,000 |
| Native Hawaiian or Other Pacific Islander | 9 | $6,509,000 | $723,000 | $2,480,000 | $174,000 | $660,000 |
| American Indian or Alaskan Native | 2 | $601,000 | $300,000 | $436,000 | $540,000 | $1,080,000 |
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) | 153,788 | $31,331,080,000 | $203,000 | $6,700,000 | $1,000 | $4,800,000 |
| VA-guaranteed (Veterans Administration) | 169 | $18,562,000 | $109,000 | $302,000 | $0 | $0 |
| FHA-insured (Federal Housing Administration) | 130 | $14,129,000 | $108,000 | $325,000 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
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 Purchased By The Institution | 152,655 | $30,850,904,000 | $202,000 | $4,220,000 | $0 | $142,000 |
| Application Denied By Financial Institution | 687 | $286,209,000 | $416,000 | $5,500,000 | $202,000 | $3,240,000 |
| Loan Originated | 486 | $148,801,000 | $306,000 | $6,700,000 | $197,000 | $4,800,000 |
| Application Approved But Not Accepted | 171 | $45,281,000 | $264,000 | $3,050,000 | $140,000 | $780,000 |
| Application Withdrawn By Applicant | 88 | $32,576,000 | $370,000 | $2,800,000 | $199,000 | $1,882,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| 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 Residential Funding Corp. LLC'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 Residential Funding Corp. LLC'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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