Specialized Loan Servicing LLC Mortgage Lending & HMDA Data, 2023
In 2023, Specialized Loan Servicing LLC of Wilmington, DE reported 326 mortgage applications totaling $60.8 million, down 32% from 2022. The average application was for $186,533, and applicants reported an average income of $101,147. 3% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (73), Houston-The Woodlands-Sugar Land, TX (37) and Detroit-Dearborn-Livonia, MI (36) (applications in parentheses).
| Mortgage Company & Address | Specialized Loan Servicing LLC 6200 S Quebec St Wilmington, DE 80111 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2022 2021 2020 |
| Total Number of Mortgage Applications | 326 |
| Total Mortgage Loan Application Amount | $60,810,000 |
| Average Mortgage Loan Application Amount | $186,533 |
| Highest Mortgage Loan Application Amount | $725,000 |
| Average Applicant Income | $101,147 |
| Highest Applicant Income | $484,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Specialized Loan Servicing LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Specialized Loan Servicing LLC in 2023
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 | 150 | $26,750,000 | $178,000 | $685,000 | $94,000 | $383,000 |
| Home Purchase | 99 | $22,775,000 | $230,000 | $725,000 | $0 | $0 |
| Refinancing | 54 | $8,550,000 | $158,000 | $485,000 | $121,000 | $484,000 |
| Other Purpose | 15 | $1,735,000 | $115,000 | $265,000 | $0 | $0 |
| Home Improvement | 8 | $1,000,000 | $125,000 | $305,000 | $0 | $0 |
| Not Applicable | 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 applicable | 276 | $50,140,000 | $181,000 | $725,000 | $0 | $0 |
| Black or African American | 25 | $4,895,000 | $195,000 | $595,000 | $86,000 | $278,000 |
| White | 16 | $2,730,000 | $170,000 | $305,000 | $87,000 | $383,000 |
| Hispanic | 5 | $1,875,000 | $375,000 | $655,000 | $108,000 | $200,000 |
| Asian | 2 | $750,000 | $375,000 | $595,000 | $190,000 | $300,000 |
| Not Provided | 2 | $420,000 | $210,000 | $315,000 | $264,000 | $484,000 |
| 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) | 318 | $59,640,000 | $187,000 | $725,000 | $100,000 | $484,000 |
| FHA-insured (Federal Housing Administration) | 8 | $1,170,000 | $146,000 | $265,000 | $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 Purchased By The Institution | 276 | $50,140,000 | $181,000 | $725,000 | $0 | $0 |
| Application Denied By Financial Institution | 28 | $6,420,000 | $229,000 | $655,000 | $94,000 | $383,000 |
| Loan Originated | 10 | $1,690,000 | $169,000 | $365,000 | $82,000 | $136,000 |
| Application Withdrawn By Applicant | 8 | $1,450,000 | $181,000 | $315,000 | $124,000 | $484,000 |
| File Closed For Incompleteness | 3 | $965,000 | $321,000 | $655,000 | $177,000 | $278,000 |
| Application Approved But Not Accepted | 1 | $145,000 | $145,000 | $145,000 | $43,000 | $43,000 |
| 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 | 298 | $54,390,000 | $182,000 | $725,000 | $108,000 | $484,000 |
| Credit History | 17 | $3,715,000 | $218,000 | $595,000 | $88,000 | $252,000 |
| Debt-To-Income Ratio | 9 | $2,285,000 | $253,000 | $655,000 | $75,000 | $300,000 |
| Other | 1 | $245,000 | $245,000 | $245,000 | $383,000 | $383,000 |
| Credit Application Incomplete | 1 | $175,000 | $175,000 | $175,000 | $65,000 | $65,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Specialized Loan Servicing LLC's 2023 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 Specialized Loan Servicing 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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