Sterling-Mercer, Inc. Mortgage Lending & HMDA Data, 2003
In 2003, Sterling-Mercer, Inc. of Fresno, CA reported 338 mortgage applications totaling $46.7 million. The average application was for $138,168, and applicants reported an average income of $48,431. 84% of its applications resulted in an originated loan and 0% were denied. Its largest markets were Fresno, CA (271), Riverside-San Bernardino, CA (6) and Los Angeles-Long Beach, CA (4) (applications in parentheses).
| Mortgage Company & Address | Sterling-Mercer, Inc. A Lending Group 1100 W. Shaw Ave., Suite Fresno, CA 93711 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 338 |
| Total Mortgage Loan Application Amount | $46,701,000 |
| Average Mortgage Loan Application Amount | $138,168 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $48,431 |
| Highest Applicant Income | $429,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sterling-Mercer, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Fresno, CA | 271 | $ 35,466,000 | $ 130,870 | $ 36,000 |
| Riverside-San Bernardino, CA | 6 | $ 880,000 | $ 146,666 | $ 84,000 |
| Los Angeles-Long Beach, CA | 4 | $ 875,000 | $ 218,750 | $ 46,000 |
| Merced, CA | 4 | $ 581,000 | $ 145,250 | $ 33,000 |
| Oakland, CA | 4 | $ 1,633,000 | $ 408,250 | $ 88,000 |
| Sacramento, CA | 4 | $ 546,000 | $ 136,500 | $ 15,000 |
| Chico-Paradise, CA | 2 | $ 416,000 | $ 208,000 | $ 87,000 |
| Visalia-Tulare-Porterville, CA | 2 | $ 307,000 | $ 153,500 | $ 0 |
| San Diego, CA | 1 | $ 301,000 | $ 301,000 | $ 396,000 |
| San Francisco, CA | 1 | $ 199,000 | $ 199,000 | $ 47,000 |
| Stockton-Lodi, CA | 1 | $ 323,000 | $ 323,000 | $ 140,000 |
| Ventura, CA | 1 | $ 216,000 | $ 216,000 | $ 67,000 |
Mortgage Loan Application Detail Totals for Sterling-Mercer, Inc. in 2003
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 |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 185 | $26,382,000 | $142,000 | $1,000,000 | $43,000 | $429,000 |
| Home Purchase (one-to-four family) | 153 | $20,319,000 | $132,000 | $525,000 | $55,000 | $396,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement (one-to-four family) | 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 | 160 | $23,885,000 | $149,000 | $641,000 | $67,000 | $429,000 |
| Hispanic | 87 | $11,100,000 | $127,000 | $316,000 | $28,000 | $129,000 |
| Black | 32 | $3,597,000 | $112,000 | $265,000 | $41,000 | $92,000 |
| Asian or Pacific Islander | 28 | $3,522,000 | $125,000 | $210,000 | $44,000 | $140,000 |
| Not applicable | 26 | $3,148,000 | $121,000 | $291,000 | $15,000 | $114,000 |
| Other | 2 | $316,000 | $158,000 | $171,000 | $30,000 | $60,000 |
| Information not provided by applicant in mail or telephone application | 2 | $1,038,000 | $519,000 | $1,000,000 | $153,000 | $288,000 |
| American Indian or Alaskan Native | 1 | $95,000 | $95,000 | $95,000 | $52,000 | $52,000 |
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) | 226 | $33,134,000 | $146,000 | $1,000,000 | $60,000 | $429,000 |
| FHA-insured (Federal Housing Administration) | 108 | $12,975,000 | $120,000 | $157,000 | $27,000 | $129,000 |
| VA-guaranteed (Veterans Administration) | 4 | $592,000 | $148,000 | $170,000 | $29,000 | $62,000 |
| 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 | 284 | $40,079,000 | $141,000 | $641,000 | $48,000 | $429,000 |
| Application Withdrawn By Applicant | 51 | $6,315,000 | $123,000 | $1,000,000 | $48,000 | $288,000 |
| Application Approved But Not Accepted | 2 | $172,000 | $86,000 | $134,000 | $19,000 | $20,000 |
| Application Denied By Financial Institution | 1 | $135,000 | $135,000 | $135,000 | $49,000 | $49,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Employment History | 1 | $135,000 | $135,000 | $135,000 | $49,000 | $49,000 |
| 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 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sterling-Mercer, Inc.'s 2003 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 Sterling-Mercer, 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.
For a list of all lenders in California, download the full spreadsheet
with aggregated HMDA statistics today.
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