Sanborn Mortgage Corporation Mortgage Lending & HMDA Data, 2023
In 2023, Sanborn Mortgage Corporation of West Hartford, CT reported 48 mortgage applications totaling $26.5 million, down 30% from 2022. The average application was for $552,708, and applicants reported an average income of $298,250. 75% of its applications resulted in an originated loan and 0% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (44), Bridgeport-Stamford-Norwalk, CT (3) and New Haven-Milford, CT (1) (applications in parentheses).
| Mortgage Company & Address | Sanborn Mortgage Corporation 35 North Main Street West Hartford, CT 06107 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2024 2023 2022 2021 2019 2018 2016 2013 2012 |
| Total Number of Mortgage Applications | 48 |
| Total Mortgage Loan Application Amount | $26,530,000 |
| Average Mortgage Loan Application Amount | $552,708 |
| Highest Mortgage Loan Application Amount | $1,285,000 |
| Average Applicant Income | $298,250 |
| Highest Applicant Income | $819,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sanborn Mortgage Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Sanborn Mortgage Corporation in 2023
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 | 46 | $25,130,000 | $546,000 | $1,285,000 | $294,000 | $819,000 |
| Refinancing | 2 | $1,400,000 | $700,000 | $755,000 | $396,000 | $490,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| White | 41 | $22,215,000 | $541,000 | $1,285,000 | $294,000 | $819,000 |
| Asian | 3 | $1,795,000 | $598,000 | $645,000 | $340,000 | $550,000 |
| Hispanic | 3 | $1,515,000 | $505,000 | $885,000 | $309,000 | $664,000 |
| Black or African American | 1 | $1,005,000 | $1,005,000 | $1,005,000 | $321,000 | $321,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 48 | $26,530,000 | $552,000 | $1,285,000 | $298,000 | $819,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 36 | $19,320,000 | $536,000 | $1,285,000 | $281,000 | $819,000 |
| Application Withdrawn By Applicant | 8 | $4,470,000 | $558,000 | $885,000 | $334,000 | $725,000 |
| File Closed For Incompleteness | 4 | $2,740,000 | $685,000 | $805,000 | $381,000 | $535,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Denied By Financial Institution | 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 |
|---|---|---|---|---|---|---|
| Not applicable | 48 | $26,530,000 | $552,000 | $1,285,000 | $298,000 | $819,000 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sanborn Mortgage Corporation's 2023 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 Sanborn Mortgage Corporation'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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