Sofi Mortgage, LLC Mortgage Lending & HMDA Data, 2020
In 2020, Sofi Mortgage, LLC of Frisco, TX reported 392 mortgage applications totaling $153.2 million, down 67% from 2019. The average application was for $390,739, and applicants reported an average income of $356,448. 17% of its applications resulted in an originated loan and 22% were denied. Its largest markets were Dallas-Plano-Irving, TX (25), Houston-The Woodlands-Sugar Land, TX (21) and Atlanta-Sandy Springs-Roswell, GA (13) (applications in parentheses).
| Mortgage Company & Address | Sofi Mortgage, LLC 6175 Main Street, Suite 490 Frisco, TX 75034 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2020 2019 2018 2017 |
| Total Number of Mortgage Applications | 392 |
| Total Mortgage Loan Application Amount | $153,170,000 |
| Average Mortgage Loan Application Amount | $390,739 |
| Highest Mortgage Loan Application Amount | $2,505,000 |
| Average Applicant Income | $356,448 |
| Highest Applicant Income | $6,968,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sofi Mortgage, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Outside any metro area | 33 | $ 8,165,000 | $ 247,424 | $ 240,848 |
| Dallas-Plano-Irving, TX | 25 | $ 8,165,000 | $ 326,600 | $ 240,000 |
| Houston-The Woodlands-Sugar Land, TX | 21 | $ 5,025,000 | $ 239,285 | $ 161,000 |
| Atlanta-Sandy Springs-Roswell, GA | 13 | $ 5,195,000 | $ 399,615 | $ 888,000 |
| Oakland-Hayward-Berkeley, CA | 12 | $ 9,930,000 | $ 827,500 | $ 511,000 |
| San Francisco-Redwood City-South San Francisco, CA | 12 | $ 10,480,000 | $ 873,333 | $ 382,000 |
| Albuquerque, NM | 11 | $ 2,785,000 | $ 253,181 | $ 189,000 |
| Chicago-Naperville, IL | 10 | $ 5,790,000 | $ 579,000 | $ 904,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 10 | $ 4,840,000 | $ 484,000 | $ 615,000 |
| Los Angeles-Long Beach-Glendale, CA | 9 | $ 7,325,000 | $ 813,888 | $ 267,000 |
| Rockingham County-Strafford County, NH | 9 | $ 2,805,000 | $ 311,666 | $ 310,000 |
| Charlotte-Concord-Gastonia, NC-SC | 7 | $ 2,675,000 | $ 382,142 | $ 329,000 |
| Austin-Round Rock, TX | 6 | $ 2,070,000 | $ 345,000 | $ 183,000 |
| Baltimore-Columbia-Towson, MD | 6 | $ 1,800,000 | $ 300,000 | $ 225,000 |
| Fort Worth-Arlington, TX | 6 | $ 1,780,000 | $ 296,666 | $ 184,000 |
| Montgomery County-Bucks County-Chester County, PA | 6 | $ 3,220,000 | $ 536,666 | $ 453,000 |
| New York-Jersey City-White Plains, NY-NJ | 6 | $ 4,530,000 | $ 755,000 | $ 1,639,000 |
| Portland-Vancouver-Hillsboro, OR-WA | 6 | $ 2,080,000 | $ 346,666 | $ 323,000 |
| Seattle-Bellevue-Everett, WA | 6 | $ 4,470,000 | $ 745,000 | $ 1,399,000 |
| Birmingham-Hoover, AL | 5 | $ 965,000 | $ 193,000 | $ 108,000 |
| Denver-Aurora-Lakewood, CO | 5 | $ 3,415,000 | $ 683,000 | $ 232,000 |
| Riverside-San Bernardino-Ontario, CA | 5 | $ 1,755,000 | $ 351,000 | $ 248,000 |
| Sacramento--Roseville--Arden-Arcade, CA | 5 | $ 2,155,000 | $ 431,000 | $ 1,079,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 5 | $ 1,655,000 | $ 331,000 | $ 346,000 |
| El Paso, TX | 4 | $ 1,240,000 | $ 310,000 | $ 154,000 |
| Greensboro-High Point, NC | 4 | $ 970,000 | $ 242,500 | $ 155,000 |
| Madison, WI | 4 | $ 600,000 | $ 150,000 | $ 66,000 |
| Manchester-Nashua, NH | 4 | $ 1,210,000 | $ 302,500 | $ 311,000 |
| New York-Newark, NY | 4 | $ 1,810,000 | $ 452,500 | $ 210,000 |
| Orlando-Kissimmee-Sanford, FL | 4 | $ 1,360,000 | $ 340,000 | $ 358,000 |
| Philadelphia, PA | 4 | $ 1,450,000 | $ 362,500 | $ 134,000 |
| San Antonio-New Braunfels, TX | 4 | $ 660,000 | $ 165,000 | $ 139,000 |
| Anchorage, AK | 3 | $ 675,000 | $ 225,000 | $ 160,000 |
| Camden, NJ | 3 | $ 1,025,000 | $ 341,666 | $ 191,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 3 | $ 885,000 | $ 295,000 | $ 94,000 |
| Indianapolis-Carmel-Anderson, IN | 3 | $ 1,215,000 | $ 405,000 | $ 172,000 |
| Las Cruces, NM | 3 | $ 775,000 | $ 258,333 | $ 180,000 |
| Newark, NJ-PA | 3 | $ 1,205,000 | $ 401,666 | $ 176,000 |
| Phoenix-Mesa-Scottsdale, AZ | 3 | $ 645,000 | $ 215,000 | $ 137,000 |
| San Luis Obispo-Paso Robles-Arroyo Grande, CA | 3 | $ 1,305,000 | $ 435,000 | $ 253,000 |
| Santa Fe, NM | 3 | $ 915,000 | $ 305,000 | $ 144,000 |
| Sioux Falls, SD | 3 | $ 1,225,000 | $ 408,333 | $ 317,000 |
| Tampa-St. Petersburg-Clearwater, FL | 3 | $ 965,000 | $ 321,666 | $ 201,000 |
| Warren-Troy-Farmington Hills, MI | 3 | $ 655,000 | $ 218,333 | $ 120,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 3 | $ 1,715,000 | $ 571,666 | $ 228,000 |
| Carbondale-Marion, IL | 2 | $ 480,000 | $ 240,000 | $ 304,000 |
| Chico, CA | 2 | $ 640,000 | $ 320,000 | $ 158,000 |
| Elgin, IL | 2 | $ 490,000 | $ 245,000 | $ 123,000 |
| Jacksonville, FL | 2 | $ 220,000 | $ 110,000 | $ 107,000 |
| Louisville/Jefferson County, KY-IN | 2 | $ 560,000 | $ 280,000 | $ 237,000 |
| Miami-Miami Beach-Kendall, FL | 2 | $ 880,000 | $ 440,000 | $ 513,000 |
| Napa, CA | 2 | $ 1,450,000 | $ 725,000 | $ 207,000 |
| Naples-Immokalee-Marco Island, FL | 2 | $ 480,000 | $ 240,000 | $ 112,000 |
| New Orleans-Metairie, LA | 2 | $ 230,000 | $ 115,000 | $ 58,000 |
| North Port-Sarasota-Bradenton, FL | 2 | $ 680,000 | $ 340,000 | $ 220,000 |
| Pittsburgh, PA | 2 | $ 720,000 | $ 360,000 | $ 2,485,000 |
| Punta Gorda, FL | 2 | $ 290,000 | $ 145,000 | $ 0 |
| San Diego-Carlsbad, CA | 2 | $ 1,210,000 | $ 605,000 | $ 274,000 |
| San Rafael, CA | 2 | $ 1,870,000 | $ 935,000 | $ 2,081,000 |
| Tacoma-Lakewood, WA | 2 | $ 880,000 | $ 440,000 | $ 238,000 |
| Washington-Baltimore-Arlington, DC | 2 | $ 1,200,000 | $ 600,000 | $ 332,000 |
| Wilmington, DE-MD-NJ | 2 | $ 380,000 | $ 190,000 | $ 114,500 |
| Bellingham, WA | 1 | $ 575,000 | $ 575,000 | $ 263,000 |
| Bend-Redmond, OR | 1 | $ 175,000 | $ 175,000 | $ 31,000 |
| Bismarck, ND | 1 | $ 225,000 | $ 225,000 | $ 163,000 |
| Bridgeport-Stamford-Norwalk, CT | 1 | $ 385,000 | $ 385,000 | $ 105,000 |
| Cedar Rapids, IA | 1 | $ 305,000 | $ 305,000 | $ 155,000 |
| Champaign-Urbana, IL | 1 | $ 225,000 | $ 225,000 | $ 79,000 |
| College Station-Bryan, TX | 1 | $ 305,000 | $ 305,000 | $ 80,000 |
| Colorado Springs, CO | 1 | $ 695,000 | $ 695,000 | $ 264,000 |
| Columbia, SC | 1 | $ 105,000 | $ 105,000 | $ 69,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 1 | $ 145,000 | $ 145,000 | $ 154,000 |
| Durham-Chapel Hill, NC | 1 | $ 515,000 | $ 515,000 | $ 324,000 |
| East Stroudsburg, PA | 1 | $ 225,000 | $ 225,000 | $ 111,000 |
| Elizabethtown-Fort Knox, KY | 1 | $ 115,000 | $ 115,000 | $ 80,000 |
| Fort Collins, CO | 1 | $ 305,000 | $ 305,000 | $ 59,000 |
| Fort Wayne, IN | 1 | $ 155,000 | $ 155,000 | $ 123,000 |
| Fresno, CA | 1 | $ 125,000 | $ 125,000 | $ 36,000 |
| Gadsden, AL | 1 | $ 135,000 | $ 135,000 | $ 35,000 |
| Gary, IN | 1 | $ 75,000 | $ 75,000 | $ 50,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 185,000 | $ 185,000 | $ 128,000 |
| Greeley, CO | 1 | $ 275,000 | $ 275,000 | $ 145,000 |
| Harrisburg-Carlisle, PA | 1 | $ 165,000 | $ 165,000 | $ 112,000 |
| Huntsville, AL | 1 | $ 285,000 | $ 285,000 | $ 139,000 |
| Jacksonville, NC | 1 | $ 205,000 | $ 205,000 | $ 125,000 |
| Johnstown, PA | 1 | $ 475,000 | $ 475,000 | $ 379,000 |
| Killeen-Temple, TX | 1 | $ 125,000 | $ 125,000 | $ 750,000 |
| Lafayette-West Lafayette, IN | 1 | $ 95,000 | $ 95,000 | $ 44,000 |
| Lake Charles, LA | 1 | $ 115,000 | $ 115,000 | $ 60,000 |
| McAllen-Edinburg-Mission, TX | 1 | $ 145,000 | $ 145,000 | $ 195,000 |
| Milwaukee-Waukesha-West Allis, WI | 1 | $ 185,000 | $ 185,000 | $ 103,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 1 | $ 175,000 | $ 175,000 | $ 66,000 |
| New Haven-Milford, CT | 1 | $ 195,000 | $ 195,000 | $ 105,000 |
| Olympia-Tumwater, WA | 1 | $ 305,000 | $ 305,000 | $ 120,000 |
| Oshkosh-Neenah, WI | 1 | $ 515,000 | $ 515,000 | $ 140,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 415,000 | $ 415,000 | $ 138,000 |
| Palm Bay-Melbourne-Titusville, FL | 1 | $ 125,000 | $ 125,000 | $ 126,000 |
| Providence-Warwick, RI-MA | 1 | $ 1,625,000 | $ 1,625,000 | $ 1,500,000 |
| Raleigh, NC | 1 | $ 215,000 | $ 215,000 | $ 128,000 |
| Salem, OR | 1 | $ 135,000 | $ 135,000 | $ 17,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 1 | $ 625,000 | $ 625,000 | $ 226,000 |
| Santa Maria-Santa Barbara, CA | 1 | $ 1,005,000 | $ 1,005,000 | $ 344,000 |
| Sheboygan, WI | 1 | $ 155,000 | $ 155,000 | $ 162,000 |
| Spokane-Spokane Valley, WA | 1 | $ 285,000 | $ 285,000 | $ 96,000 |
| Stockton-Lodi, CA | 1 | $ 415,000 | $ 415,000 | $ 135,000 |
| Tyler, TX | 1 | $ 565,000 | $ 565,000 | $ 395,000 |
| Vallejo-Fairfield, CA | 1 | $ 355,000 | $ 355,000 | $ 1,987,000 |
| Waco, TX | 1 | $ 605,000 | $ 605,000 | $ 480,000 |
| Wenatchee, WA | 1 | $ 55,000 | $ 55,000 | $ 225,000 |
| Wichita Falls, TX | 1 | $ 115,000 | $ 115,000 | $ 58,000 |
Mortgage Loan Application Detail Totals for Sofi Mortgage, LLC in 2020
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 | 203 | $89,495,000 | $440,000 | $2,505,000 | $443,000 | $6,968,000 |
| Cash-out Refinancing | 169 | $56,045,000 | $331,000 | $1,625,000 | $251,000 | $4,462,000 |
| Home Purchase | 20 | $7,630,000 | $381,000 | $1,505,000 | $369,000 | $4,500,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 208 | $78,960,000 | $379,000 | $2,505,000 | $368,000 | $6,600,000 |
| Not Provided | 102 | $42,660,000 | $418,000 | $1,955,000 | $365,000 | $6,968,000 |
| Hispanic | 33 | $10,405,000 | $315,000 | $895,000 | $312,000 | $4,462,000 |
| Black or African American | 18 | $5,140,000 | $285,000 | $735,000 | $276,000 | $1,187,000 |
| Asian | 15 | $7,565,000 | $504,000 | $1,205,000 | $453,000 | $3,852,000 |
| American Indian or Alaskan Native | 4 | $1,370,000 | $342,000 | $435,000 | $160,000 | $378,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 344 | $139,660,000 | $405,000 | $2,505,000 | $378,000 | $6,968,000 |
| FHA-insured (Federal Housing Administration) | 30 | $6,980,000 | $232,000 | $525,000 | $187,000 | $1,987,000 |
| VA-guaranteed (Veterans Administration) | 17 | $5,725,000 | $336,000 | $585,000 | $194,000 | $1,187,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $805,000 | $805,000 | $805,000 | $1,152,000 | $1,152,000 |
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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 167 | $75,265,000 | $450,000 | $1,955,000 | $395,000 | $6,600,000 |
| Application Denied By Financial Institution | 88 | $33,120,000 | $376,000 | $2,505,000 | $267,000 | $3,063,000 |
| File Closed For Incompleteness | 69 | $26,025,000 | $377,000 | $1,475,000 | $575,000 | $6,968,000 |
| Loan Originated | 65 | $17,865,000 | $274,000 | $675,000 | $159,000 | $499,000 |
| Application Approved But Not Accepted | 3 | $895,000 | $298,000 | $515,000 | $125,000 | $160,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 304 | $120,050,000 | $394,000 | $1,955,000 | $383,000 | $6,968,000 |
| Unverifiable Information | 45 | $15,095,000 | $335,000 | $1,505,000 | $227,000 | $1,144,000 |
| Credit History | 13 | $2,745,000 | $211,000 | $425,000 | $92,000 | $230,000 |
| Debt-To-Income Ratio | 12 | $4,940,000 | $411,000 | $955,000 | $146,000 | $305,000 |
| Other | 11 | $7,475,000 | $679,000 | $2,505,000 | $542,000 | $2,404,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $1,710,000 | $427,000 | $515,000 | $203,000 | $311,000 |
| Credit Application Incomplete | 2 | $1,060,000 | $530,000 | $745,000 | $1,691,000 | $3,063,000 |
| Collateral | 1 | $95,000 | $95,000 | $95,000 | $41,000 | $41,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sofi Mortgage, LLC's 2020 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 Sofi Mortgage, 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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