South Coast Commercial Bank Mortgage Lending & HMDA Data, 2004
In 2004, South Coast Commercial Bank of Irvine, CA reported 108 mortgage applications totaling $49.3 million, down 59% from 2003. The average application was for $456,185, and applicants reported an average income of $16,240. 21% of its applications resulted in an originated loan and 44% were denied. Its largest market was Santa Ana-Anaheim-Irvine, CA (2).
| Mortgage Company & Address | South Coast Commercial Bank 19752 Mac Arthur Blvd Irvine, CA 92612 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 108 |
| Total Mortgage Loan Application Amount | $49,268,000 |
| Average Mortgage Loan Application Amount | $456,185 |
| Highest Mortgage Loan Application Amount | $2,025,000 |
| Average Applicant Income | $16,240 |
| Highest Applicant Income | $402,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records South Coast Commercial Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 South Coast Commercial Bank in 2004
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 | 65 | $34,162,000 | $882,000 | $2,025,000 | $5,500 | $402,000 |
| Refinancing | 43 | $15,106,000 | $423,500 | $800,000 | $12,500 | $138,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not Provided | 37 | $15,642,000 | $460,000 | $1,406,000 | $7,500 | $402,000 |
| Hispanic | 23 | $9,944,000 | $822,500 | $1,250,000 | $7,000 | $93,000 |
| White | 21 | $10,899,000 | $519,000 | $1,134,000 | $22,000 | $138,000 |
| Asian | 19 | $10,246,000 | $539,000 | $2,025,000 | $30,000 | $126,000 |
| Black or African American | 6 | $2,015,000 | $335,000 | $548,000 | $4,000 | $44,000 |
| Not applicable | 2 | $522,000 | $261,000 | $312,000 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 108 | $49,268,000 | $661,500 | $2,025,000 | $9,000 | $402,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 47 | $24,721,000 | $525,000 | $2,025,000 | $13,000 | $108,000 |
| Application Withdrawn By Applicant | 38 | $16,866,000 | $647,000 | $1,250,000 | $8,500 | $402,000 |
| Loan Originated | 23 | $7,681,000 | $333,000 | $860,000 | $31,000 | $192,000 |
| 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 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 24 | $12,885,000 | $536,000 | $2,025,000 | $24,000 | $108,000 |
| Debt-To-Income Ratio | 13 | $7,331,000 | $563,000 | $1,406,000 | $12,000 | $75,000 |
| Credit History | 8 | $2,470,000 | $308,000 | $430,000 | $0 | $0 |
| Unverifiable Information | 1 | $475,000 | $475,000 | $475,000 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $1,560,000 | $1,560,000 | $1,560,000 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into South Coast Commercial Bank's 2004 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 South Coast Commercial Bank'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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