Sovereign Bank NA Mortgage Lending & HMDA Data, 2006
In 2006, Sovereign Bank NA of Dallas, TX reported 38 mortgage applications totaling $43.1 million, down 67% from 2005. The average application was for $1,134,210, and applicants reported an average income of $417,736. 92% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Dallas-Plano-Irving, TX (27), Austin-Round Rock, TX (5) and San Antonio, TX (2) (applications in parentheses).
| Mortgage Company & Address | Sovereign Bank NA 17950 Preston Road Dallas, TX 75252 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 |
| Total Number of Mortgage Applications | 38 |
| Total Mortgage Loan Application Amount | $43,100,000 |
| Average Mortgage Loan Application Amount | $1,134,210 |
| Highest Mortgage Loan Application Amount | $8,912,000 |
| Average Applicant Income | $417,736 |
| Highest Applicant Income | $7,967,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sovereign Bank NA filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Sovereign Bank NA in 2006
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 Improvement | 19 | $15,762,000 | $829,000 | $4,979,000 | $162,000 | $1,380,000 |
| Home Purchase | 15 | $21,446,000 | $1,429,000 | $8,912,000 | $312,000 | $798,000 |
| Refinancing | 4 | $5,892,000 | $1,473,000 | $2,450,000 | $2,029,000 | $7,967,000 |
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 applicable | 21 | $31,529,000 | $1,501,000 | $8,912,000 | $0 | $0 |
| White | 15 | $10,576,000 | $705,000 | $2,546,000 | $1,011,000 | $7,967,000 |
| Hispanic | 2 | $995,000 | $497,000 | $595,000 | $358,000 | $489,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 38 | $43,100,000 | $1,134,000 | $8,912,000 | $418,000 | $7,967,000 |
| 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 | 35 | $39,089,000 | $1,116,000 | $8,912,000 | $416,000 | $7,967,000 |
| Application Withdrawn By Applicant | 2 | $1,465,000 | $732,000 | $1,200,000 | $271,000 | $324,000 |
| Application Denied By Financial Institution | 1 | $2,546,000 | $2,546,000 | $2,546,000 | $764,000 | $764,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 1 | $2,546,000 | $2,546,000 | $2,546,000 | $764,000 | $764,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sovereign Bank NA's 2006 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 Sovereign Bank NA'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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