Synovus Mortgage Corp. Mortgage Lending & HMDA Data, 2019
In 2019, Synovus Mortgage Corp. of Birmingham, AL reported 6,659 mortgage applications totaling $1.4 billion, up 41% from 2018. The average application was for $216,588, and applicants reported an average income of $107,330. 64% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Atlanta-Sandy Springs-Roswell, GA (1,072), Columbus, GA-AL (559) and Birmingham-Hoover, AL (403) (applications in parentheses).
| Mortgage Company & Address | Synovus Mortgage Corp. 800 Shades Creek Parkway Birmingham, AL 35209 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 |
| Total Number of Mortgage Applications | 6,659 |
| Total Mortgage Loan Application Amount | $1,442,265,000 |
| Average Mortgage Loan Application Amount | $216,588 |
| Highest Mortgage Loan Application Amount | $2,035,000 |
| Average Applicant Income | $107,330 |
| Highest Applicant Income | $4,724,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Synovus Mortgage Corp. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Synovus Mortgage Corp. in 2019
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 | 4,723 | $993,575,000 | $210,000 | $2,035,000 | $100,000 | $4,724,000 |
| Cash-out Refinancing | 974 | $218,080,000 | $223,000 | $1,165,000 | $116,000 | $2,388,000 |
| Refinancing | 788 | $200,970,000 | $255,000 | $1,395,000 | $131,000 | $2,139,000 |
| Other Purpose | 171 | $28,925,000 | $169,000 | $805,000 | $150,000 | $1,500,000 |
| Home Improvement | 3 | $715,000 | $238,000 | $405,000 | $183,000 | $381,000 |
| 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 | 4,514 | $1,001,910,000 | $221,000 | $2,035,000 | $113,000 | $4,724,000 |
| Black or African American | 1,065 | $201,415,000 | $189,000 | $1,395,000 | $77,000 | $2,388,000 |
| Not Provided | 589 | $133,355,000 | $226,000 | $935,000 | $120,000 | $1,116,000 |
| Hispanic | 291 | $60,415,000 | $207,000 | $1,305,000 | $92,000 | $596,000 |
| Asian | 137 | $32,155,000 | $234,000 | $755,000 | $120,000 | $706,000 |
| American Indian or Alaskan Native | 24 | $4,570,000 | $190,000 | $455,000 | $78,000 | $252,000 |
| Native Hawaiian or Other Pacific Islander | 8 | $1,670,000 | $208,000 | $285,000 | $73,000 | $108,000 |
| 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) | 4,672 | $1,067,420,000 | $228,000 | $2,035,000 | $123,000 | $4,724,000 |
| FHA-insured (Federal Housing Administration) | 1,278 | $223,670,000 | $175,000 | $535,000 | $66,000 | $320,000 |
| VA-guaranteed (Veterans Administration) | 463 | $114,505,000 | $247,000 | $1,165,000 | $93,000 | $780,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 246 | $36,670,000 | $149,000 | $405,000 | $51,000 | $108,000 |
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 | 4,241 | $898,765,000 | $211,000 | $975,000 | $106,000 | $4,724,000 |
| Application Withdrawn By Applicant | 1,069 | $248,265,000 | $232,000 | $2,035,000 | $121,000 | $1,500,000 |
| Application Denied By Financial Institution | 825 | $175,345,000 | $212,000 | $1,395,000 | $87,000 | $820,000 |
| Application Approved But Not Accepted | 323 | $73,265,000 | $226,000 | $1,245,000 | $106,000 | $665,000 |
| File Closed For Incompleteness | 195 | $45,875,000 | $235,000 | $1,105,000 | $143,000 | $2,388,000 |
| Loan Purchased By The Institution | 6 | $750,000 | $125,000 | $315,000 | $96,000 | $190,000 |
| 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 | 5,834 | $1,266,920,000 | $217,000 | $2,035,000 | $110,000 | $4,724,000 |
| Credit History | 307 | $61,575,000 | $200,000 | $1,395,000 | $91,000 | $553,000 |
| Debt-To-Income Ratio | 254 | $57,090,000 | $224,000 | $1,305,000 | $66,000 | $349,000 |
| Collateral | 105 | $20,545,000 | $195,000 | $515,000 | $98,000 | $657,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 45 | $9,035,000 | $200,000 | $485,000 | $76,000 | $194,000 |
| Unverifiable Information | 44 | $11,190,000 | $254,000 | $935,000 | $130,000 | $820,000 |
| Other | 31 | $8,725,000 | $281,000 | $1,165,000 | $122,000 | $445,000 |
| Employment History | 28 | $4,520,000 | $161,000 | $315,000 | $69,000 | $360,000 |
| Credit Application Incomplete | 10 | $2,340,000 | $234,000 | $435,000 | $137,000 | $340,000 |
| Mortgage Insurance Denied | 1 | $325,000 | $325,000 | $325,000 | $186,000 | $186,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Synovus Mortgage Corp.'s 2019 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 Synovus Mortgage Corp.'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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with aggregated HMDA statistics today.
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