Signature Mortgage Corporation Mortgage Lending & HMDA Data, 2018
In 2018, Signature Mortgage Corporation of Canton, OH reported 834 mortgage applications totaling $130.6 million, up 18% from 2017. The average application was for $156,594, and applicants reported an average income of $75,272. 85% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Canton-Massillon, OH (328), Akron, OH (92) and Cleveland-Elyria, OH (40) (applications in parentheses).
| Mortgage Company & Address | Signature Mortgage Corporation 4790 Douglas Circle Nw Canton, OH 44718 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2021 2020 2019 2018 2017 2016 |
| Total Number of Mortgage Applications | 834 |
| Total Mortgage Loan Application Amount | $130,600,000 |
| Average Mortgage Loan Application Amount | $156,594 |
| Highest Mortgage Loan Application Amount | $1,255,000 |
| Average Applicant Income | $75,272 |
| Highest Applicant Income | $684,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Signature Mortgage Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Signature Mortgage Corporation in 2018
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 | 758 | $116,930,000 | $154,000 | $1,255,000 | $73,000 | $684,000 |
| Cash-out Refinancing | 38 | $6,080,000 | $160,000 | $425,000 | $97,000 | $380,000 |
| Refinancing | 37 | $7,535,000 | $203,000 | $805,000 | $101,000 | $450,000 |
| Home Improvement | 1 | $55,000 | $55,000 | $55,000 | $20,000 | $20,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | 747 | $118,025,000 | $157,000 | $1,255,000 | $78,000 | $684,000 |
| Black or African American | 52 | $7,440,000 | $143,000 | $585,000 | $53,000 | $224,000 |
| Hispanic | 24 | $3,610,000 | $150,000 | $315,000 | $54,000 | $132,000 |
| Asian | 7 | $1,015,000 | $145,000 | $225,000 | $62,000 | $208,000 |
| Not Provided | 2 | $280,000 | $140,000 | $165,000 | $84,000 | $137,000 |
| American Indian or Alaskan Native | 1 | $125,000 | $125,000 | $125,000 | $51,000 | $51,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $105,000 | $105,000 | $105,000 | $32,000 | $32,000 |
| 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) | 418 | $76,580,000 | $183,000 | $1,255,000 | $100,000 | $684,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 203 | $24,395,000 | $120,000 | $255,000 | $45,000 | $97,000 |
| FHA-insured (Federal Housing Administration) | 194 | $26,090,000 | $134,000 | $295,000 | $54,000 | $168,000 |
| VA-guaranteed (Veterans Administration) | 19 | $3,535,000 | $186,000 | $585,000 | $78,000 | $224,000 |
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 | 709 | $113,475,000 | $160,000 | $1,255,000 | $76,000 | $684,000 |
| Application Denied By Financial Institution | 60 | $7,200,000 | $120,000 | $285,000 | $48,000 | $159,000 |
| Application Withdrawn By Applicant | 59 | $8,735,000 | $148,000 | $625,000 | $89,000 | $556,000 |
| File Closed For Incompleteness | 6 | $1,190,000 | $198,000 | $315,000 | $122,000 | $300,000 |
| Application Approved But Not Accepted | 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 | 774 | $123,400,000 | $159,000 | $1,255,000 | $77,000 | $684,000 |
| Collateral | 15 | $1,375,000 | $91,000 | $155,000 | $37,000 | $70,000 |
| Credit Application Incomplete | 15 | $1,765,000 | $117,000 | $205,000 | $52,000 | $159,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 9 | $1,215,000 | $135,000 | $185,000 | $44,000 | $67,000 |
| Other | 6 | $920,000 | $153,000 | $285,000 | $60,000 | $83,000 |
| Credit History | 6 | $810,000 | $135,000 | $255,000 | $44,000 | $77,000 |
| Employment History | 4 | $400,000 | $100,000 | $175,000 | $40,000 | $49,000 |
| Debt-To-Income Ratio | 3 | $445,000 | $148,000 | $205,000 | $81,000 | $92,000 |
| Unverifiable Information | 2 | $270,000 | $135,000 | $175,000 | $50,000 | $57,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Signature Mortgage Corporation's 2018 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 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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