Service Finance Company, LLC Mortgage Lending & HMDA Data, 2011
In 2011, Service Finance Company, LLC of Boca Raton, FL reported 17,682 mortgage applications totaling $142.3 million. The average application was for $8,048, and applicants reported an average income of $61,000. 43% of its applications resulted in an originated loan and 57% were denied. Its largest markets were Birmingham-Hoover, AL (1,252), Anniston-Oxford, AL (1,014) and Los Angeles-Long Beach-Glendale, CA (915) (applications in parentheses).
| Mortgage Company & Address | Service Finance Company, LLC 555 S Federal Highway Suite 200 Boca Raton, FL 33432 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2013 2012 2011 |
| Total Number of Mortgage Applications | 17,682 |
| Total Mortgage Loan Application Amount | $142,319,000 |
| Average Mortgage Loan Application Amount | $8,048 |
| Highest Mortgage Loan Application Amount | $80,000 |
| Average Applicant Income | $61,000 |
| Highest Applicant Income | $3,536,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Service Finance Company, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Service Finance Company, LLC in 2011
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 Improvement | 17,682 | $142,319,000 | $8,000 | $80,000 | $61,000 | $3,536,000 |
| Home Purchase | 0 | $0 | $0 | $0 | $0 | $0 |
| Refinancing | 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 |
|---|---|---|---|---|---|---|
| Not Provided | 10,568 | $74,621,000 | $7,000 | $80,000 | $67,000 | $2,520,000 |
| White | 5,031 | $47,828,000 | $9,000 | $40,000 | $53,000 | $3,536,000 |
| Black or African American | 1,153 | $10,256,000 | $8,000 | $69,000 | $47,000 | $1,560,000 |
| Hispanic | 812 | $8,367,000 | $10,000 | $26,000 | $47,000 | $468,000 |
| Asian | 67 | $698,000 | $10,000 | $25,000 | $61,000 | $185,000 |
| American Indian or Alaskan Native | 30 | $278,000 | $9,000 | $23,000 | $56,000 | $144,000 |
| Native Hawaiian or Other Pacific Islander | 21 | $271,000 | $12,000 | $25,000 | $56,000 | $192,000 |
| 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) | 17,682 | $142,319,000 | $8,000 | $80,000 | $61,000 | $3,536,000 |
| 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 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 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 Denied By Financial Institution | 10,157 | $78,658,000 | $7,000 | $80,000 | $62,000 | $3,536,000 |
| Loan Originated | 7,525 | $63,661,000 | $8,000 | $26,000 | $59,000 | $1,320,000 |
| 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 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 722 | $7,090,000 | $9,000 | $25,000 | $55,000 | $3,276,000 |
| 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 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Service Finance Company, LLC's 2011 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 Service Finance Company, LLC'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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