Security Mortgage Corporation Mortgage Lending & HMDA Data, 2008
In 2008, Security Mortgage Corporation of Phoenix, AZ reported 1,363 mortgage applications totaling $273.7 million. The average application was for $200,802, and applicants reported an average income of $83,005. 77% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (1,226), Tucson, AZ (27) and Prescott, AZ (16) (applications in parentheses).
| Mortgage Company & Address | Security Mortgage Corporation 4505 E Chandler Blvd, Suite 135 Phoenix, AZ 85048 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2006 2005 |
| Total Number of Mortgage Applications | 1,363 |
| Total Mortgage Loan Application Amount | $273,694,000 |
| Average Mortgage Loan Application Amount | $200,802 |
| Highest Mortgage Loan Application Amount | $2,300,000 |
| Average Applicant Income | $83,005 |
| Highest Applicant Income | $864,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Security Mortgage Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Security Mortgage Corporation in 2008
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 | 984 | $184,973,000 | $187,000 | $960,000 | $78,000 | $600,000 |
| Refinancing | 379 | $88,721,000 | $234,000 | $2,300,000 | $96,000 | $864,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 838 | $179,280,000 | $213,000 | $2,300,000 | $91,000 | $864,000 |
| Hispanic | 263 | $42,206,000 | $160,000 | $545,000 | $56,000 | $204,000 |
| Not Provided | 214 | $43,318,000 | $202,000 | $910,000 | $85,000 | $600,000 |
| Black or African American | 25 | $5,022,000 | $200,000 | $473,000 | $69,000 | $171,000 |
| Asian | 14 | $2,458,000 | $175,000 | $320,000 | $96,000 | $164,000 |
| American Indian or Alaskan Native | 6 | $829,000 | $138,000 | $186,000 | $54,000 | $80,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $581,000 | $193,000 | $226,000 | $71,000 | $98,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 862 | $154,737,000 | $179,000 | $729,000 | $65,000 | $242,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 463 | $112,798,000 | $243,000 | $2,300,000 | $117,000 | $864,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 19 | $2,530,000 | $133,000 | $208,000 | $42,000 | $65,000 |
| VA-guaranteed (Veterans Administration) | 19 | $3,629,000 | $191,000 | $662,000 | $88,000 | $437,000 |
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 | 1,046 | $203,276,000 | $194,000 | $2,300,000 | $80,000 | $600,000 |
| Application Denied By Financial Institution | 150 | $33,715,000 | $224,000 | $1,500,000 | $92,000 | $864,000 |
| Application Approved But Not Accepted | 134 | $28,870,000 | $215,000 | $825,000 | $91,000 | $470,000 |
| Application Withdrawn By Applicant | 33 | $7,833,000 | $237,000 | $1,085,000 | $105,000 | $700,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 30 | $8,608,000 | $286,000 | $1,500,000 | $122,000 | $410,000 |
| Other | 25 | $6,696,000 | $267,000 | $1,355,000 | $105,000 | $864,000 |
| Collateral | 22 | $4,361,000 | $198,000 | $417,000 | $94,000 | $337,000 |
| Credit History | 20 | $4,113,000 | $205,000 | $960,000 | $78,000 | $361,000 |
| Unverifiable Information | 8 | $1,562,000 | $195,000 | $325,000 | $77,000 | $168,000 |
| Credit Application Incomplete | 7 | $1,311,000 | $187,000 | $224,000 | $90,000 | $139,000 |
| Employment History | 5 | $803,000 | $160,000 | $265,000 | $55,000 | $88,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $821,000 | $273,000 | $417,000 | $83,000 | $96,000 |
| Mortgage Insurance Denied | 2 | $369,000 | $184,000 | $225,000 | $41,000 | $58,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Security Mortgage Corporation's 2008 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 Security 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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