Residential Home Funding Corp. Mortgage Lending & HMDA Data, 2006
In 2006, Residential Home Funding Corp. of White Plains, NY reported 2,227 mortgage applications totaling $618.1 million, up 136% from 2005. The average application was for $277,530, and applicants reported an average income of $133,675. 64% of its applications resulted in an originated loan and 3% were denied. Its largest markets were New York-White Plains-Wayne, NY-NJ (1,067), Newark-Union, NJ-PA (460) and Edison, NJ (167) (applications in parentheses).
| Mortgage Company & Address | Residential Home Funding Corp. 707 Westchester Avenue, Suite 305 White Plains, NY 10604 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 2,227 |
| Total Mortgage Loan Application Amount | $618,061,000 |
| Average Mortgage Loan Application Amount | $277,530 |
| Highest Mortgage Loan Application Amount | $3,000,000 |
| Average Applicant Income | $133,675 |
| Highest Applicant Income | $1,800,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Residential Home Funding Corp. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| New York-White Plains-Wayne, NY-NJ | 1,067 | $ 346,894,000 | $ 325,111 | $ 143,001 |
| Newark-Union, NJ-PA | 460 | $ 104,703,000 | $ 227,615 | $ 119,793 |
| Edison, NJ | 167 | $ 38,746,000 | $ 232,011 | $ 130,000 |
| Nassau-Suffolk, NY | 112 | $ 34,183,000 | $ 305,205 | $ 133,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 75 | $ 18,425,000 | $ 245,666 | $ 118,000 |
| Bridgeport-Stamford-Norwalk, CT | 67 | $ 21,239,000 | $ 317,000 | $ 147,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 26 | $ 4,743,000 | $ 182,423 | $ 105,653 |
| Camden, NJ | 21 | $ 4,559,000 | $ 217,095 | $ 187,000 |
| Atlantic City, NJ | 17 | $ 4,351,000 | $ 255,941 | $ 211,000 |
| New Haven-Milford, CT | 12 | $ 2,064,000 | $ 172,000 | $ 128,000 |
| Hartford-West Hartford-East Hartford, CT | 11 | $ 1,979,000 | $ 179,909 | $ 92,000 |
| Scranton--Wilkes-Barre, PA | 8 | $ 806,000 | $ 100,750 | $ 106,000 |
| Trenton-Ewing, NJ | 8 | $ 1,658,000 | $ 207,250 | $ 98,000 |
| Tampa-St. Petersburg-Clearwater, FL | 7 | $ 1,181,000 | $ 168,714 | $ 94,000 |
| Utica-Rome, NY | 7 | $ 489,000 | $ 69,857 | $ 277,000 |
| Boston-Quincy, MA | 6 | $ 2,112,000 | $ 352,000 | $ 103,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 6 | $ 1,060,000 | $ 176,666 | $ 92,000 |
| Philadelphia, PA | 6 | $ 940,000 | $ 156,666 | $ 134,000 |
| Orlando-Kissimmee, FL | 5 | $ 656,000 | $ 131,200 | $ 65,000 |
| Albany-Schenectady-Troy, NY | 4 | $ 760,000 | $ 190,000 | $ 63,000 |
| Cambridge-Newton-Framingham, MA | 4 | $ 1,193,000 | $ 298,250 | $ 99,000 |
| Glens Falls, NY | 4 | $ 602,000 | $ 150,500 | $ 67,000 |
| Nashville-Davidson--Murfreesboro, TN | 4 | $ 408,000 | $ 102,000 | $ 70,000 |
| Providence-New Bedford-Fall River, RI-MA | 4 | $ 1,471,000 | $ 367,750 | $ 76,000 |
| Springfield, MA | 4 | $ 624,000 | $ 156,000 | $ 51,000 |
| Baltimore-Towson, MD | 3 | $ 677,000 | $ 225,666 | $ 90,000 |
| Barnstable Town, MA | 3 | $ 451,000 | $ 150,333 | $ 126,000 |
| Cape Coral-Fort Myers, FL | 3 | $ 887,000 | $ 295,666 | $ 184,000 |
| Essex County, MA | 3 | $ 1,031,000 | $ 343,666 | $ 121,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC | 3 | $ 166,000 | $ 55,333 | $ 121,000 |
| Punta Gorda, FL | 3 | $ 1,247,000 | $ 415,666 | $ 165,000 |
| Reading, PA | 3 | $ 188,000 | $ 62,666 | $ 66,000 |
| Atlanta-Sandy Springs-Marietta, GA | 2 | $ 169,000 | $ 84,500 | $ 50,000 |
| Binghamton, NY | 2 | $ 81,000 | $ 40,500 | $ 47,000 |
| Charleston-North Charleston, SC | 2 | $ 250,000 | $ 125,000 | $ 163,000 |
| Kingston, NY | 2 | $ 295,000 | $ 147,500 | $ 69,000 |
| Memphis, TN-MS-AR | 2 | $ 1,440,000 | $ 720,000 | $ 648,000 |
| Miami-Miami Beach-Kendall, FL | 2 | $ 611,000 | $ 305,500 | $ 139,000 |
| Ocala, FL | 2 | $ 159,000 | $ 79,500 | $ 155,000 |
| Ocean City, NJ | 2 | $ 446,000 | $ 223,000 | $ 99,000 |
| Phoenix-Mesa-Scottsdale, AZ | 2 | $ 472,000 | $ 236,000 | $ 97,000 |
| Port St. Lucie-Fort Pierce, FL | 2 | $ 192,000 | $ 96,000 | $ 44,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 2 | $ 663,000 | $ 331,500 | $ 103,000 |
| Wilmington, DE-MD-NJ | 2 | $ 237,000 | $ 118,500 | $ 67,000 |
| Buffalo-Niagara Falls, NY | 1 | $ 106,000 | $ 106,000 | $ 42,000 |
| Columbia, SC | 1 | $ 68,000 | $ 68,000 | $ 75,000 |
| Johnstown, PA | 1 | $ 146,000 | $ 146,000 | $ 0 |
| Kansas City, MO-KS | 1 | $ 114,000 | $ 114,000 | $ 33,000 |
| Lakeland, FL | 1 | $ 325,000 | $ 325,000 | $ 140,000 |
| Lancaster, PA | 1 | $ 520,000 | $ 520,000 | $ 144,000 |
| Naples-Marco Island, FL | 1 | $ 470,000 | $ 470,000 | $ 192,000 |
| Norwich-New London, CT | 1 | $ 208,000 | $ 208,000 | $ 93,000 |
| Pine Bluff, AR | 1 | $ 75,000 | $ 75,000 | $ 94,000 |
| Rochester, NY | 1 | $ 143,000 | $ 143,000 | $ 94,000 |
| Sarasota-Bradenton-Venice, FL | 1 | $ 26,000 | $ 26,000 | $ 102,000 |
| Syracuse, NY | 1 | $ 100,000 | $ 100,000 | $ 202,000 |
| Vineland-Millville-Bridgeton, NJ | 1 | $ 105,000 | $ 105,000 | $ 34,000 |
| Visalia-Porterville, CA | 1 | $ 80,000 | $ 80,000 | $ 77,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 1 | $ 171,000 | $ 171,000 | $ 47,000 |
| Worcester, MA | 1 | $ 181,000 | $ 181,000 | $ 63,000 |
Mortgage Loan Application Detail Totals for Residential Home Funding Corp. in 2006
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 | 1,297 | $333,802,000 | $257,000 | $2,720,000 | $135,000 | $1,213,000 |
| Refinancing | 903 | $276,210,000 | $305,000 | $3,000,000 | $130,000 | $1,800,000 |
| Home Improvement | 27 | $8,049,000 | $298,000 | $1,000,000 | $193,000 | $741,000 |
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 | 883 | $247,863,000 | $280,000 | $3,000,000 | $155,000 | $1,800,000 |
| Hispanic | 525 | $158,611,000 | $302,000 | $1,500,000 | $133,000 | $1,487,000 |
| Not Provided | 467 | $120,685,000 | $258,000 | $1,050,000 | $107,000 | $815,000 |
| Black or African American | 301 | $75,840,000 | $251,000 | $900,000 | $113,000 | $602,000 |
| Asian | 39 | $11,614,000 | $297,000 | $720,000 | $137,000 | $243,000 |
| American Indian or Alaskan Native | 7 | $2,083,000 | $297,000 | $432,000 | $104,000 | $237,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $1,365,000 | $273,000 | $450,000 | $138,000 | $280,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 2,187 | $607,121,000 | $277,000 | $3,000,000 | $134,000 | $1,800,000 |
| FHA-insured (Federal Housing Administration) | 39 | $10,608,000 | $272,000 | $497,000 | $80,000 | $264,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $332,000 | $332,000 | $332,000 | $112,000 | $112,000 |
| VA-guaranteed (Veterans Administration) | 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 Originated | 1,418 | $391,937,000 | $276,000 | $3,000,000 | $135,000 | $1,800,000 |
| Application Withdrawn By Applicant | 706 | $197,688,000 | $280,000 | $2,568,000 | $130,000 | $1,213,000 |
| Application Denied By Financial Institution | 74 | $20,613,000 | $278,000 | $1,280,000 | $140,000 | $815,000 |
| Application Approved But Not Accepted | 25 | $6,613,000 | $264,000 | $666,000 | $138,000 | $249,000 |
| Loan Purchased By The Institution | 3 | $722,000 | $240,000 | $305,000 | $28,000 | $85,000 |
| File Closed For Incompleteness | 1 | $488,000 | $488,000 | $488,000 | $180,000 | $180,000 |
| 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 | 7 | $1,745,000 | $249,000 | $508,000 | $94,000 | $152,000 |
| Collateral | 3 | $1,004,000 | $334,000 | $440,000 | $121,000 | $157,000 |
| Unverifiable Information | 3 | $774,000 | $258,000 | $368,000 | $96,000 | $125,000 |
| Debt-To-Income Ratio | 2 | $342,000 | $171,000 | $220,000 | $117,000 | $119,000 |
| Employment History | 1 | $182,000 | $182,000 | $182,000 | $78,000 | $78,000 |
| Other | 1 | $200,000 | $200,000 | $200,000 | $72,000 | $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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Residential Home Funding Corp.'s 2006 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 Home Funding Corp.'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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