Source Capital Funding, Inc. Mortgage Lending & HMDA Data, 2018
In 2018, Source Capital Funding, Inc. of San Diego, CA reported 118 mortgage applications totaling $40.0 million. The average application was for $338,559, and applicants reported an average income of $77,847. 72% of its applications resulted in an originated loan and 3% were denied. Its largest markets were San Diego-Carlsbad, CA (24), Los Angeles-Long Beach-Glendale, CA (22) and Phoenix-Mesa-Scottsdale, AZ (9) (applications in parentheses).
| Mortgage Company & Address | Source Capital Funding, Inc. 11770 Bernardo Plaza Ct #205 San Diego, CA 92128 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 |
| Total Number of Mortgage Applications | 118 |
| Total Mortgage Loan Application Amount | $39,950,000 |
| Average Mortgage Loan Application Amount | $338,559 |
| Highest Mortgage Loan Application Amount | $2,205,000 |
| Average Applicant Income | $77,847 |
| Highest Applicant Income | $750,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Source Capital Funding, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| San Diego-Carlsbad, CA | 24 | $ 12,500,000 | $ 520,833 | $ 117,000 |
| Los Angeles-Long Beach-Glendale, CA | 22 | $ 10,090,000 | $ 458,636 | $ 73,000 |
| Phoenix-Mesa-Scottsdale, AZ | 9 | $ 745,000 | $ 82,777 | $ 60,000 |
| Riverside-San Bernardino-Ontario, CA | 7 | $ 1,845,000 | $ 263,571 | $ 74,000 |
| Anaheim-Santa Ana-Irvine, CA | 6 | $ 2,860,000 | $ 476,666 | $ 87,000 |
| Oakland-Hayward-Berkeley, CA | 6 | $ 1,650,000 | $ 275,000 | $ 128,000 |
| Sacramento--Roseville--Arden-Arcade, CA | 5 | $ 945,000 | $ 189,000 | $ 82,000 |
| Fresno, CA | 4 | $ 600,000 | $ 150,000 | $ 165,000 |
| Outside any metro area | 4 | $ 770,000 | $ 192,500 | $ 42,500 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 3 | $ 685,000 | $ 228,333 | $ 79,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 3 | $ 1,535,000 | $ 511,666 | $ 93,000 |
| Bakersfield, CA | 2 | $ 310,000 | $ 155,000 | $ 0 |
| Lake Havasu City-Kingman, AZ | 2 | $ 230,000 | $ 115,000 | $ 9,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 2 | $ 410,000 | $ 205,000 | $ 23,000 |
| San Antonio-New Braunfels, TX | 2 | $ 200,000 | $ 100,000 | $ 54,000 |
| San Francisco-Redwood City-South San Francisco, CA | 2 | $ 1,010,000 | $ 505,000 | $ 19,000 |
| Stockton-Lodi, CA | 2 | $ 570,000 | $ 285,000 | $ 0 |
| Visalia-Porterville, CA | 2 | $ 360,000 | $ 180,000 | $ 39,000 |
| Chico, CA | 1 | $ 65,000 | $ 65,000 | $ 108,000 |
| Hanford-Corcoran, CA | 1 | $ 65,000 | $ 65,000 | $ 0 |
| Houston-The Woodlands-Sugar Land, TX | 1 | $ 1,005,000 | $ 1,005,000 | $ 0 |
| Merced, CA | 1 | $ 35,000 | $ 35,000 | $ 60,000 |
| Salinas, CA | 1 | $ 195,000 | $ 195,000 | $ 52,000 |
| Santa Maria-Santa Barbara, CA | 1 | $ 605,000 | $ 605,000 | $ 35,000 |
| Sierra Vista-Douglas, AZ | 1 | $ 25,000 | $ 25,000 | $ 36,000 |
| Tucson, AZ | 1 | $ 75,000 | $ 75,000 | $ 0 |
| Vallejo-Fairfield, CA | 1 | $ 155,000 | $ 155,000 | $ 47,000 |
Mortgage Loan Application Detail Totals for Source Capital Funding, Inc. 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 |
|---|---|---|---|---|---|---|
| Cash-out Refinancing | 94 | $29,480,000 | $313,000 | $2,205,000 | $75,000 | $750,000 |
| Home Purchase | 18 | $8,100,000 | $450,000 | $1,305,000 | $93,000 | $300,000 |
| Refinancing | 6 | $2,370,000 | $395,000 | $1,075,000 | $77,000 | $120,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not Provided | 54 | $19,950,000 | $369,000 | $1,625,000 | $79,000 | $600,000 |
| White | 45 | $14,365,000 | $319,000 | $2,205,000 | $86,000 | $750,000 |
| Hispanic | 8 | $1,890,000 | $236,000 | $545,000 | $57,000 | $123,000 |
| Asian | 6 | $2,090,000 | $348,000 | $1,055,000 | $80,000 | $160,000 |
| Black or African American | 4 | $1,540,000 | $385,000 | $755,000 | $50,000 | $82,000 |
| American Indian or Alaskan Native | 1 | $115,000 | $115,000 | $115,000 | $0 | $0 |
| 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) | 118 | $39,950,000 | $338,000 | $2,205,000 | $78,000 | $750,000 |
| 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 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 85 | $28,845,000 | $339,000 | $2,205,000 | $78,000 | $750,000 |
| Application Approved But Not Accepted | 18 | $5,140,000 | $285,000 | $1,005,000 | $73,000 | $267,000 |
| Application Withdrawn By Applicant | 11 | $4,985,000 | $453,000 | $1,075,000 | $83,000 | $180,000 |
| Application Denied By Financial Institution | 4 | $980,000 | $245,000 | $465,000 | $92,000 | $120,000 |
| File Closed For Incompleteness | 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 | 114 | $38,970,000 | $341,000 | $2,205,000 | $78,000 | $750,000 |
| Collateral | 3 | $745,000 | $248,000 | $465,000 | $83,000 | $120,000 |
| Credit History | 1 | $235,000 | $235,000 | $235,000 | $120,000 | $120,000 |
| 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 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Source Capital Funding, Inc.'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 Source Capital 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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