Sail Mortgage Corp Mortgage Lending & HMDA Data, 2007
In 2007, Sail Mortgage Corp of Wexford, PA reported 28 mortgage applications totaling $3.1 million, up 47% from 2006. The average application was for $109,428, and applicants reported an average income of $62,142. 0% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Pittsburgh, PA (19), Philadelphia, PA (3) and Scranton--Wilkes-Barre, PA (1) (applications in parentheses).
| Mortgage Company & Address | Sail Mortgage Corp 11269 Perry Hwy - Ste 135 Wexford, PA 15090 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 28 |
| Total Mortgage Loan Application Amount | $3,064,000 |
| Average Mortgage Loan Application Amount | $109,428 |
| Highest Mortgage Loan Application Amount | $310,000 |
| Average Applicant Income | $62,142 |
| Highest Applicant Income | $150,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sail Mortgage Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Sail Mortgage Corp 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 26 | $2,785,000 | $107,000 | $310,000 | $61,000 | $150,000 |
| Refinancing | 2 | $279,000 | $139,000 | $228,000 | $77,000 | $119,000 |
| 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 | 28 | $3,064,000 | $109,000 | $310,000 | $62,000 | $150,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 17 | $1,764,000 | $103,000 | $228,000 | $54,000 | $146,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 11 | $1,300,000 | $118,000 | $310,000 | $75,000 | $150,000 |
| 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 |
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 Withdrawn By Applicant | 11 | $1,239,000 | $112,000 | $310,000 | $62,000 | $150,000 |
| File Closed For Incompleteness | 10 | $1,004,000 | $100,000 | $228,000 | $61,000 | $119,000 |
| Application Denied By Financial Institution | 3 | $453,000 | $151,000 | $306,000 | $73,000 | $150,000 |
| Preapproval Approved but not Accepted | 3 | $264,000 | $88,000 | $104,000 | $50,000 | $65,000 |
| Application Approved But Not Accepted | 1 | $104,000 | $104,000 | $104,000 | $74,000 | $74,000 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Originated | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Unverifiable Information | 1 | $67,000 | $67,000 | $67,000 | $20,000 | $20,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sail Mortgage Corp'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 Sail Mortgage Corp'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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