Signature Funding, Inc. Mortgage Lending & HMDA Data, 2007
In 2007, Signature Funding, Inc. of San Diego, CA reported 248 mortgage applications totaling $77.7 million, down 34% from 2006. The average application was for $313,379, and applicants reported an average income of $115,500. 66% of its applications resulted in an originated loan and 2% were denied. Its largest markets were San Diego-Carlsbad-San Marcos, CA (199), Riverside-San Bernardino-Ontario, CA (13) and Los Angeles-Long Beach-Glendale, CA (7) (applications in parentheses).
| Mortgage Company & Address | Signature Funding, Inc. 4510 Executive Drive, Suite 100 San Diego, CA 92121 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 248 |
| Total Mortgage Loan Application Amount | $77,718,000 |
| Average Mortgage Loan Application Amount | $313,379 |
| Highest Mortgage Loan Application Amount | $1,723,000 |
| Average Applicant Income | $115,500 |
| Highest Applicant Income | $480,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Signature Funding, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Signature Funding, Inc. in 2007
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 | 155 | $47,280,000 | $305,000 | $1,723,000 | $111,000 | $420,000 |
| Home Purchase | 93 | $30,438,000 | $327,000 | $1,500,000 | $123,000 | $480,000 |
| 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 | 158 | $53,600,000 | $339,000 | $1,723,000 | $128,000 | $480,000 |
| Hispanic | 43 | $11,783,000 | $274,000 | $648,000 | $90,000 | $240,000 |
| Not Provided | 16 | $4,102,000 | $256,000 | $535,000 | $83,000 | $150,000 |
| Black or African American | 12 | $3,412,000 | $284,000 | $518,000 | $95,000 | $200,000 |
| Asian | 10 | $2,853,000 | $285,000 | $417,000 | $96,000 | $154,000 |
| American Indian or Alaskan Native | 7 | $1,084,000 | $154,000 | $230,000 | $152,000 | $156,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $884,000 | $442,000 | $664,000 | $81,000 | $122,000 |
| 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) | 247 | $77,468,000 | $313,000 | $1,723,000 | $116,000 | $480,000 |
| VA-guaranteed (Veterans Administration) | 1 | $250,000 | $250,000 | $250,000 | $86,000 | $86,000 |
| 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 |
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 | 163 | $51,312,000 | $314,000 | $1,720,000 | $117,000 | $480,000 |
| Application Withdrawn By Applicant | 46 | $13,393,000 | $291,000 | $600,000 | $106,000 | $300,000 |
| Application Approved But Not Accepted | 29 | $7,840,000 | $270,000 | $660,000 | $115,000 | $270,000 |
| File Closed For Incompleteness | 6 | $3,732,000 | $622,000 | $1,723,000 | $159,000 | $366,000 |
| Application Denied By Financial Institution | 4 | $1,441,000 | $360,000 | $403,000 | $118,000 | $137,000 |
| 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 |
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 |
|---|---|---|---|---|---|---|
| Collateral | 1 | $403,000 | $403,000 | $403,000 | $97,000 | $97,000 |
| Debt-To-Income Ratio | 1 | $356,000 | $356,000 | $356,000 | $137,000 | $137,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $342,000 | $342,000 | $342,000 | $110,000 | $110,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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 Signature Funding, Inc.'s 2007 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 Signature Funding, 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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