Spectrum Financial Group, Inc. Mortgage Lending & HMDA Data, 2004
In 2004, Spectrum Financial Group, Inc. of Scottsdale, AZ reported 3,505 mortgage applications totaling $580.7 million. The average application was for $165,664, and applicants reported an average income of $68,739. 66% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (2,104), Las Vegas-Paradise, NV (973) and Tucson, AZ (68) (applications in parentheses).
| Mortgage Company & Address | Spectrum Financial Group, Inc. 7047 East Greenway Parkway, Suite 400 Scottsdale, AZ 85254 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 |
| Total Number of Mortgage Applications | 3,505 |
| Total Mortgage Loan Application Amount | $580,654,000 |
| Average Mortgage Loan Application Amount | $165,664 |
| Highest Mortgage Loan Application Amount | $1,833,000 |
| Average Applicant Income | $68,739 |
| Highest Applicant Income | $1,504,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Spectrum Financial Group, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Maricopa, Arizona | 2,016 | $ 305,970,000 | $ 151,770 | $ 79,000 |
| Clark, Nevada | 973 | $ 186,597,000 | $ 191,774 | $ 72,000 |
| Pinal, Arizona | 88 | $ 10,560,000 | $ 120,000 | $ 47,000 |
| Pima, Arizona | 68 | $ 10,272,000 | $ 151,058 | $ 43,000 |
| Yavapai, Arizona | 21 | $ 3,286,000 | $ 156,476 | $ 55,000 |
| Coconino, Arizona | 18 | $ 3,431,000 | $ 190,611 | $ 65,000 |
| Washoe, Nevada | 16 | $ 3,408,000 | $ 213,000 | $ 56,000 |
| Los Angeles, California | 14 | $ 3,328,000 | $ 237,714 | $ 66,000 |
| Riverside, California | 13 | $ 2,337,000 | $ 179,769 | $ 96,000 |
| El Paso, Colorado | 13 | $ 2,155,000 | $ 165,769 | $ 58,000 |
| Santa Cruz, Arizona | 11 | $ 1,003,000 | $ 91,181 | $ 48,000 |
| Orange, California | 11 | $ 3,850,000 | $ 350,000 | $ 171,000 |
| Ada, Idaho | 11 | $ 1,476,000 | $ 134,181 | $ 76,000 |
| Mohave, Arizona | 9 | $ 1,287,000 | $ 143,000 | $ 140,000 |
| San Diego, California | 9 | $ 2,719,000 | $ 302,111 | $ 77,000 |
| San Bernardino, California | 8 | $ 2,035,000 | $ 254,375 | $ 39,000 |
| Carson City, Nevada | 8 | $ 1,147,000 | $ 143,375 | $ 71,000 |
| Chisago, Minnesota | 7 | $ 1,097,000 | $ 156,714 | $ 50,000 |
| Nye, Nevada | 7 | $ 1,038,000 | $ 148,285 | $ 68,000 |
| Multnomah, Oregon | 7 | $ 599,000 | $ 85,571 | $ 33,000 |
| Gila, Arizona | 6 | $ 1,025,000 | $ 170,833 | $ 80,000 |
| Denver, Colorado | 6 | $ 1,217,000 | $ 202,833 | $ 52,000 |
| Pueblo, Colorado | 6 | $ 657,000 | $ 109,500 | $ 91,000 |
| Anoka, Minnesota | 6 | $ 1,094,000 | $ 182,333 | $ 35,000 |
| Navajo, Arizona | 5 | $ 801,000 | $ 160,200 | $ 160,000 |
| Adams, Colorado | 5 | $ 869,000 | $ 173,800 | $ 27,000 |
| Washington, Minnesota | 5 | $ 842,000 | $ 168,400 | $ 30,000 |
| Bernalillo, New Mexico | 5 | $ 553,000 | $ 110,600 | $ 70,000 |
| Contra Costa, California | 4 | $ 933,000 | $ 233,250 | $ 0 |
| San Mateo, California | 4 | $ 2,016,000 | $ 504,000 | $ 136,000 |
| Arapahoe, Colorado | 4 | $ 591,000 | $ 147,750 | $ 39,000 |
| Hennepin, Minnesota | 4 | $ 743,000 | $ 185,750 | $ 57,000 |
| Kern, California | 3 | $ 392,000 | $ 130,666 | $ 59,000 |
| Sacramento, California | 3 | $ 731,000 | $ 243,666 | $ 0 |
| Ventura, California | 3 | $ 737,000 | $ 245,666 | $ 34,000 |
| Douglas, Colorado | 3 | $ 767,000 | $ 255,666 | $ 125,000 |
| Eagle, Colorado | 3 | $ 594,000 | $ 198,000 | $ 0 |
| Jefferson, Colorado | 3 | $ 730,000 | $ 243,333 | $ 162,000 |
| Canyon, Idaho | 3 | $ 264,000 | $ 88,000 | $ 50,000 |
| Anne Arundel, Maryland | 3 | $ 792,000 | $ 264,000 | $ 28,000 |
| Ramsey, Minnesota | 3 | $ 584,000 | $ 194,666 | $ 50,000 |
| Scott, Minnesota | 3 | $ 201,000 | $ 67,000 | $ 51,000 |
| King, Washington | 3 | $ 610,000 | $ 203,333 | $ 0 |
| Cochise, Arizona | 2 | $ 225,000 | $ 112,500 | $ 80,000 |
| Alameda, California | 2 | $ 327,000 | $ 163,500 | $ 54,000 |
| San Joaquin, California | 2 | $ 223,000 | $ 111,500 | $ 66,000 |
| Solano, California | 2 | $ 386,000 | $ 193,000 | $ 71,000 |
| Sutter, California | 2 | $ 281,000 | $ 140,500 | $ 74,000 |
| Tulare, California | 2 | $ 281,000 | $ 140,500 | $ 59,000 |
| Tuolumne, California | 2 | $ 275,000 | $ 137,500 | $ 0 |
| Archuleta, Colorado | 2 | $ 330,000 | $ 165,000 | $ 62,000 |
| Elbert, Colorado | 2 | $ 191,000 | $ 95,500 | $ 52,000 |
| Bingham, Idaho | 2 | $ 171,000 | $ 85,500 | $ 59,000 |
| Frederick, Maryland | 2 | $ 374,000 | $ 187,000 | $ 0 |
| Prince George's, Maryland | 2 | $ 233,000 | $ 116,500 | $ 0 |
| Queen Anne's, Maryland | 2 | $ 395,000 | $ 197,500 | $ 0 |
| Dakota, Minnesota | 2 | $ 292,000 | $ 146,000 | $ 56,000 |
| Greene, Missouri | 2 | $ 112,000 | $ 56,000 | $ 39,000 |
| Santa Fe, New Mexico | 2 | $ 524,000 | $ 262,000 | $ 143,000 |
| Clackamas, Oregon | 2 | $ 242,000 | $ 121,000 | $ 0 |
| Yamhill, Oregon | 2 | $ 152,000 | $ 76,000 | $ 46,000 |
| Fauquier, Virginia | 2 | $ 610,000 | $ 305,000 | $ 205,000 |
| York, Virginia | 2 | $ 289,000 | $ 144,500 | $ 0 |
| Snohomish, Washington | 2 | $ 358,000 | $ 179,000 | $ 0 |
| Yuma, Arizona | 1 | $ 731,000 | $ 731,000 | $ 360,000 |
| Kings, California | 1 | $ 92,000 | $ 92,000 | $ 0 |
| Madera, California | 1 | $ 180,000 | $ 180,000 | $ 0 |
| Merced, California | 1 | $ 273,000 | $ 273,000 | $ 0 |
| Placer, California | 1 | $ 96,000 | $ 96,000 | $ 0 |
| Plumas, California | 1 | $ 233,000 | $ 233,000 | $ 0 |
| San Francisco, California | 1 | $ 200,000 | $ 200,000 | $ 0 |
| Santa Clara, California | 1 | $ 222,000 | $ 222,000 | $ 125,000 |
| Shasta, California | 1 | $ 264,000 | $ 264,000 | $ 57,000 |
| Stanislaus, California | 1 | $ 212,000 | $ 212,000 | $ 114,000 |
| Pitkin, Colorado | 1 | $ 825,000 | $ 825,000 | $ 312,000 |
| Twin Falls, Idaho | 1 | $ 76,000 | $ 76,000 | $ 108,000 |
| Baltimore, Maryland | 1 | $ 325,000 | $ 325,000 | $ 0 |
| Isanti, Minnesota | 1 | $ 152,000 | $ 152,000 | $ 61,000 |
| Lincoln, Minnesota | 1 | $ 187,000 | $ 187,000 | $ 0 |
| Rice, Minnesota | 1 | $ 173,000 | $ 173,000 | $ 0 |
| Saline, Missouri | 1 | $ 57,000 | $ 57,000 | $ 25,000 |
| Lyon, Nevada | 1 | $ 306,000 | $ 306,000 | $ 0 |
| Dona Ana, New Mexico | 1 | $ 147,000 | $ 147,000 | $ 0 |
| Rio Arriba, New Mexico | 1 | $ 140,000 | $ 140,000 | $ 62,000 |
| Taos, New Mexico | 1 | $ 368,000 | $ 368,000 | $ 246,000 |
| Coos, Oregon | 1 | $ 510,000 | $ 510,000 | $ 0 |
| Harney, Oregon | 1 | $ 230,000 | $ 230,000 | $ 0 |
| Josephine, Oregon | 1 | $ 233,000 | $ 233,000 | $ 0 |
| Lane, Oregon | 1 | $ 400,000 | $ 400,000 | $ 0 |
| Umatilla, Oregon | 1 | $ 169,000 | $ 169,000 | $ 162,000 |
| Hampton, Virginia | 1 | $ 234,000 | $ 234,000 | $ 139,000 |
| Isle of Wight, Virginia | 1 | $ 303,000 | $ 303,000 | $ 0 |
Mortgage Loan Application Detail Totals for Spectrum Financial Group, Inc. 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 | 2,338 | $354,510,000 | $192,181 | $1,833,000 | $80,818 | $1,079,000 |
| Refinancing | 1,167 | $226,144,000 | $180,416 | $1,593,000 | $49,500 | $1,504,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 1,636 | $267,908,000 | $151,166 | $1,593,000 | $69,083 | $1,504,000 |
| Not Provided | 1,215 | $208,153,000 | $193,636 | $1,833,000 | $49,181 | $1,059,000 |
| Hispanic | 371 | $57,956,000 | $172,285 | $1,122,000 | $53,714 | $672,000 |
| Asian | 113 | $17,864,000 | $120,666 | $671,000 | $52,666 | $410,000 |
| Black or African American | 78 | $14,184,000 | $170,500 | $1,120,000 | $83,250 | $450,000 |
| Not applicable | 60 | $9,041,000 | $190,750 | $620,000 | $36,000 | $300,000 |
| Native Hawaiian or Other Pacific Islander | 20 | $3,064,000 | $128,333 | $516,000 | $103,000 | $192,000 |
| American Indian or Alaskan Native | 12 | $2,484,000 | $223,500 | $622,000 | $107,500 | $192,000 |
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) | 3,447 | $572,771,000 | $173,083 | $1,833,000 | $54,750 | $1,504,000 |
| FHA-insured (Federal Housing Administration) | 35 | $4,369,000 | $147,000 | $265,000 | $50,000 | $424,000 |
| VA-guaranteed (Veterans Administration) | 23 | $3,514,000 | $161,000 | $254,000 | $41,750 | $92,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 2,312 | $380,695,000 | $173,333 | $1,833,000 | $66,583 | $1,059,000 |
| Application Withdrawn By Applicant | 496 | $81,551,000 | $179,444 | $1,500,000 | $17,777 | $600,000 |
| Application Approved But Not Accepted | 296 | $51,853,000 | $184,500 | $1,120,000 | $51,375 | $1,079,000 |
| Application Denied By Financial Institution | 168 | $25,513,000 | $174,600 | $1,500,000 | $77,400 | $1,504,000 |
| Loan Purchased By The Institution | 164 | $27,075,000 | $181,800 | $620,000 | $45,800 | $322,000 |
| File Closed For Incompleteness | 69 | $13,967,000 | $290,250 | $979,000 | $79,250 | $672,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 22 | $3,858,000 | $169,250 | $650,000 | $80,000 | $1,504,000 |
| Other | 17 | $2,560,000 | $139,666 | $610,000 | $77,666 | $300,000 |
| Debt-To-Income Ratio | 16 | $2,916,000 | $170,000 | $500,000 | $28,250 | $154,000 |
| Unverifiable Information | 7 | $1,361,000 | $181,500 | $464,000 | $59,000 | $114,000 |
| Collateral | 7 | $1,296,000 | $229,666 | $382,000 | $78,666 | $168,000 |
| Employment History | 4 | $553,000 | $118,000 | $225,000 | $140,500 | $216,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $112,000 | $112,000 | $112,000 | $32,000 | $32,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Spectrum Financial Group, Inc.'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 Spectrum Financial Group, 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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