Right-Away Mortgage, Inc. Mortgage Lending & HMDA Data, 2004
In 2004, Right-Away Mortgage, Inc. of Cypress, CA reported 3,650 mortgage applications totaling $810.9 million, up 87% from 2003. The average application was for $222,153, and applicants reported an average income of $91,190. 38% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (924), Riverside-San Bernardino-Ontario, CA (529) and Sacramento--Arden-Arcade--Roseville, CA (209) (applications in parentheses).
| Mortgage Company & Address | Right-Away Mortgage, Inc. 10833 Valley View Street Suite 500 Cypress, CA 90630 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 3,650 |
| Total Mortgage Loan Application Amount | $810,860,000 |
| Average Mortgage Loan Application Amount | $222,153 |
| Highest Mortgage Loan Application Amount | $1,100,000 |
| Average Applicant Income | $91,190 |
| Highest Applicant Income | $1,865,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Right-Away Mortgage, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Right-Away Mortgage, Inc. in 2004
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 | 1,852 | $477,728,000 | $156,520 | $1,057,000 | $87,760 | $1,865,000 |
| Home Purchase | 1,798 | $333,132,000 | $108,478 | $1,100,000 | $59,608 | $933,000 |
| Home Improvement | 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 | 1,200 | $237,893,000 | $108,000 | $735,000 | $53,823 | $933,000 |
| White | 964 | $223,071,000 | $147,840 | $1,100,000 | $94,040 | $1,332,000 |
| Not Provided | 661 | $157,823,000 | $163,043 | $1,057,000 | $70,739 | $1,865,000 |
| Black or African American | 537 | $106,877,000 | $140,941 | $750,000 | $62,529 | $420,000 |
| Asian | 238 | $72,714,000 | $217,625 | $826,000 | $94,250 | $1,708,000 |
| Native Hawaiian or Other Pacific Islander | 27 | $5,655,000 | $157,500 | $528,000 | $66,000 | $174,000 |
| American Indian or Alaskan Native | 23 | $6,827,000 | $253,000 | $693,000 | $91,166 | $240,000 |
| 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) | 3,649 | $810,666,000 | $133,115 | $1,100,000 | $74,076 | $1,865,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $194,000 | $194,000 | $194,000 | $66,000 | $66,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 1,396 | $316,416,000 | $140,083 | $1,100,000 | $87,250 | $1,865,000 |
| Loan Originated | 1,374 | $310,428,000 | $128,550 | $1,040,000 | $58,050 | $933,000 |
| Application Denied By Financial Institution | 751 | $153,289,000 | $135,875 | $1,057,000 | $70,041 | $844,000 |
| Application Approved But Not Accepted | 129 | $30,727,000 | $160,083 | $750,000 | $67,666 | $420,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Other | 307 | $57,058,000 | $121,529 | $1,025,000 | $68,294 | $474,000 |
| Credit History | 204 | $46,911,000 | $136,866 | $940,000 | $55,933 | $384,000 |
| Debt-To-Income Ratio | 103 | $21,626,000 | $221,222 | $723,000 | $67,777 | $216,000 |
| Collateral | 78 | $15,098,000 | $155,214 | $1,057,000 | $95,071 | $331,000 |
| Unverifiable Information | 27 | $6,949,000 | $199,000 | $750,000 | $78,714 | $679,000 |
| Employment History | 26 | $4,627,000 | $126,000 | $604,000 | $51,666 | $151,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $816,000 | $183,000 | $420,000 | $201,000 | $844,000 |
| Credit Application Incomplete | 2 | $204,000 | $102,000 | $145,000 | $93,000 | $104,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Right-Away Mortgage, Inc.'s 2004 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 Right-Away 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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