Spring Eq, LLC Mortgage Lending & HMDA Data, 2021
In 2021, Spring Eq, LLC of Conshohocken, PA reported 33,925 mortgage applications totaling $4.9 billion, up 54% from 2020. The average application was for $144,850, and applicants reported an average income of $143,413. 29% of its applications resulted in an originated loan and 48% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (1,775), Atlanta-Sandy Springs-Roswell, GA (1,476) and Los Angeles-Long Beach-Glendale, CA (1,311) (applications in parentheses).
| Mortgage Company & Address | Spring Eq, LLC 1 West Elm Street Suite 450 Conshohocken, PA 19428 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 |
| Total Number of Mortgage Applications | 33,925 |
| Total Mortgage Loan Application Amount | $4,914,050,000 |
| Average Mortgage Loan Application Amount | $144,850 |
| Highest Mortgage Loan Application Amount | $9,005,000 |
| Average Applicant Income | $143,413 |
| Highest Applicant Income | $8,320,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Spring Eq, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Spring Eq, LLC in 2021
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 |
|---|---|---|---|---|---|---|
| Other Purpose | 16,321 | $2,039,940,000 | $124,000 | $9,005,000 | $155,000 | $8,320,000 |
| Home Improvement | 8,045 | $648,895,000 | $80,000 | $1,115,000 | $152,000 | $7,450,000 |
| Cash-out Refinancing | 4,230 | $1,021,060,000 | $241,000 | $2,005,000 | $97,000 | $3,792,000 |
| Refinancing | 4,135 | $1,016,095,000 | $245,000 | $1,005,000 | $115,000 | $2,266,000 |
| Home Purchase | 1,194 | $188,060,000 | $157,000 | $785,000 | $190,000 | $1,701,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 19,893 | $2,668,510,000 | $134,000 | $9,005,000 | $148,000 | $8,320,000 |
| Not Provided | 7,286 | $1,235,070,000 | $169,000 | $2,005,000 | $134,000 | $6,305,000 |
| Hispanic | 2,598 | $346,500,000 | $133,000 | $945,000 | $132,000 | $3,283,000 |
| Black or African American | 1,927 | $244,325,000 | $126,000 | $815,000 | $122,000 | $4,805,000 |
| Asian | 1,876 | $370,780,000 | $197,000 | $1,805,000 | $167,000 | $2,740,000 |
| American Indian or Alaskan Native | 130 | $18,560,000 | $142,000 | $505,000 | $148,000 | $2,156,000 |
| Native Hawaiian or Other Pacific Islander | 91 | $12,695,000 | $139,000 | $545,000 | $137,000 | $380,000 |
| 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) | 33,812 | $4,884,575,000 | $144,000 | $9,005,000 | $144,000 | $8,320,000 |
| FHA-insured (Federal Housing Administration) | 60 | $14,680,000 | $244,000 | $495,000 | $108,000 | $1,528,000 |
| VA-guaranteed (Veterans Administration) | 53 | $14,795,000 | $279,000 | $795,000 | $81,000 | $636,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 16,161 | $2,045,350,000 | $126,000 | $2,005,000 | $151,000 | $8,320,000 |
| Loan Originated | 9,983 | $1,314,915,000 | $131,000 | $825,000 | $151,000 | $3,688,000 |
| Application Withdrawn By Applicant | 7,323 | $1,485,235,000 | $202,000 | $9,005,000 | $117,000 | $7,224,000 |
| Application Approved But Not Accepted | 458 | $68,550,000 | $149,000 | $645,000 | $145,000 | $512,000 |
| 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 | 17,764 | $2,868,700,000 | $161,000 | $9,005,000 | $137,000 | $7,224,000 |
| Credit Application Incomplete | 10,469 | $1,424,840,000 | $136,000 | $1,045,000 | $172,000 | $7,450,000 |
| Collateral | 2,557 | $253,395,000 | $99,000 | $2,005,000 | $112,000 | $2,341,000 |
| Debt-To-Income Ratio | 2,029 | $214,525,000 | $105,000 | $675,000 | $94,000 | $940,000 |
| Credit History | 435 | $51,155,000 | $117,000 | $545,000 | $125,000 | $1,336,000 |
| Unverifiable Information | 402 | $61,180,000 | $152,000 | $655,000 | $132,000 | $600,000 |
| Other | 233 | $33,595,000 | $144,000 | $1,305,000 | $234,000 | $8,320,000 |
| Employment History | 21 | $2,575,000 | $122,000 | $295,000 | $136,000 | $360,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 15 | $4,085,000 | $272,000 | $515,000 | $92,000 | $174,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Spring Eq, LLC's 2021 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 Spring Eq, 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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