Right-Away Mortgage, Inc. Mortgage Lending & HMDA Data, 2005
In 2005, Right-Away Mortgage, Inc. of Cypress, CA reported 5,176 mortgage applications totaling $1.3 billion, up 42% from 2004. The average application was for $242,098, and applicants reported an average income of $97,736. 37% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (1,411), Riverside-San Bernardino-Ontario, CA (1,007) and Las Vegas-Paradise, NV (277) (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 | 5,176 |
| Total Mortgage Loan Application Amount | $1,253,103,000 |
| Average Mortgage Loan Application Amount | $242,098 |
| Highest Mortgage Loan Application Amount | $1,250,000 |
| Average Applicant Income | $97,736 |
| Highest Applicant Income | $1,920,000 |
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records Right-Away Mortgage, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2005
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 | 2,812 | $599,475,000 | $140,521 | $1,170,000 | $111,652 | $1,920,000 |
| Refinancing | 2,364 | $653,628,000 | $175,250 | $1,250,000 | $72,875 | $954,000 |
| 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 | 2,159 | $490,194,000 | $145,444 | $1,170,000 | $86,111 | $1,819,000 |
| White | 966 | $245,421,000 | $160,958 | $1,250,000 | $80,875 | $780,000 |
| Not Provided | 918 | $244,211,000 | $182,954 | $1,170,000 | $81,045 | $1,920,000 |
| Black or African American | 758 | $167,232,000 | $145,000 | $945,000 | $65,263 | $624,000 |
| Asian | 294 | $84,347,000 | $282,900 | $878,000 | $283,900 | $1,176,000 |
| Native Hawaiian or Other Pacific Islander | 52 | $14,916,000 | $245,000 | $1,116,000 | $85,500 | $256,000 |
| American Indian or Alaskan Native | 29 | $6,782,000 | $210,600 | $560,000 | $118,000 | $652,000 |
| 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) | 5,176 | $1,253,103,000 | $158,480 | $1,250,000 | $93,960 | $1,920,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 2,219 | $547,017,000 | $168,120 | $1,235,000 | $104,040 | $1,176,000 |
| Loan Originated | 1,897 | $443,692,000 | $162,631 | $1,103,000 | $73,684 | $384,000 |
| Application Denied By Financial Institution | 971 | $243,048,000 | $152,625 | $1,250,000 | $83,166 | $1,920,000 |
| Application Approved But Not Accepted | 89 | $19,346,000 | $152,416 | $653,000 | $89,166 | $480,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 361 | $91,351,000 | $166,250 | $1,250,000 | $71,000 | $780,000 |
| Debt-To-Income Ratio | 341 | $85,984,000 | $216,333 | $1,170,000 | $119,444 | $1,920,000 |
| Collateral | 146 | $35,275,000 | $166,285 | $1,170,000 | $112,357 | $1,819,000 |
| Employment History | 43 | $10,243,000 | $146,857 | $662,000 | $74,714 | $251,000 |
| Other | 38 | $9,786,000 | $169,000 | $853,000 | $85,888 | $426,000 |
| Unverifiable Information | 29 | $7,330,000 | $207,500 | $1,170,000 | $74,000 | $240,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 9 | $2,289,000 | $230,666 | $500,000 | $93,000 | $175,000 |
| Credit Application Incomplete | 2 | $350,000 | $175,000 | $240,000 | $99,500 | $135,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Right-Away Mortgage, Inc.'s 2005 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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