Sunset Mortgage & Investment Mortgage Lending & HMDA Data, 2006
In 2006, Sunset Mortgage & Investment of Miami, FL reported 301 mortgage applications totaling $49.5 million. The average application was for $164,451, and applicants reported an average income of $89,617. 70% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Miami-Miami Beach-Kendall, FL (213), Cape Coral-Fort Myers, FL (23) and Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (17) (applications in parentheses).
| Mortgage Company & Address | Sunset Mortgage & Investment 9485 Sunset Drive, Suite A-270 Miami, FL 33173 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 |
| Total Number of Mortgage Applications | 301 |
| Total Mortgage Loan Application Amount | $49,500,000 |
| Average Mortgage Loan Application Amount | $164,451 |
| Highest Mortgage Loan Application Amount | $908,000 |
| Average Applicant Income | $89,617 |
| Highest Applicant Income | $336,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sunset Mortgage & Investment filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Sunset Mortgage & Investment 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 Purchase | 220 | $35,568,000 | $161,000 | $908,000 | $95,000 | $336,000 |
| Refinancing | 81 | $13,932,000 | $172,000 | $600,000 | $75,000 | $163,000 |
| 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 |
|---|---|---|---|---|---|---|
| Hispanic | 227 | $39,152,000 | $172,000 | $908,000 | $94,000 | $336,000 |
| Black or African American | 45 | $5,875,000 | $130,000 | $251,000 | $66,000 | $163,000 |
| White | 14 | $2,130,000 | $152,000 | $342,000 | $94,000 | $200,000 |
| Not Provided | 12 | $2,059,000 | $171,000 | $324,000 | $105,000 | $210,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $99,000 | $49,000 | $79,000 | $39,000 | $39,000 |
| American Indian or Alaskan Native | 1 | $185,000 | $185,000 | $185,000 | $68,000 | $68,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 301 | $49,500,000 | $164,000 | $908,000 | $90,000 | $336,000 |
| 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 | 212 | $33,350,000 | $157,000 | $648,000 | $86,000 | $200,000 |
| Application Withdrawn By Applicant | 84 | $15,588,000 | $185,000 | $908,000 | $101,000 | $336,000 |
| Application Denied By Financial Institution | 5 | $562,000 | $112,000 | $200,000 | $71,000 | $80,000 |
| 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 | 3 | $313,000 | $104,000 | $148,000 | $75,000 | $80,000 |
| 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 Sunset Mortgage & Investment'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 Sunset Mortgage & Investment'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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