The Funding Source LLC Mortgage Lending & HMDA Data, 2009
In 2009, The Funding Source LLC of Syracuse, NY reported 702 mortgage applications totaling $102.2 million, down 34% from 2008. The average application was for $145,621, and applicants reported an average income of $64,732. 61% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Syracuse, NY (184), Albany-Schenectady-Troy, NY (119) and Buffalo-Niagara Falls, NY (116) (applications in parentheses).
| Mortgage Company & Address | The Funding Source LLC 906 Spencer Street Syracuse, NY 13206 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 702 |
| Total Mortgage Loan Application Amount | $102,226,000 |
| Average Mortgage Loan Application Amount | $145,621 |
| Highest Mortgage Loan Application Amount | $711,000 |
| Average Applicant Income | $64,732 |
| Highest Applicant Income | $573,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Funding Source LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Onondaga, New York | 163 | $ 18,859,000 | $ 115,699 | $ 60,000 |
| Erie, New York | 88 | $ 10,261,000 | $ 116,602 | $ 60,000 |
| Monroe, New York | 53 | $ 6,802,000 | $ 128,339 | $ 64,000 |
| Albany, New York | 42 | $ 7,613,000 | $ 181,261 | $ 90,000 |
| Schenectady, New York | 32 | $ 4,360,000 | $ 136,250 | $ 53,000 |
| Chemung, New York | 30 | $ 2,853,000 | $ 95,100 | $ 56,000 |
| Niagara, New York | 29 | $ 3,162,000 | $ 109,034 | $ 53,000 |
| Saratoga, New York | 27 | $ 5,227,000 | $ 193,592 | $ 60,000 |
| Oswego, New York | 17 | $ 1,915,000 | $ 112,647 | $ 69,000 |
| Orange, New York | 14 | $ 3,266,000 | $ 233,285 | $ 85,000 |
| Rensselaer, New York | 14 | $ 2,188,000 | $ 156,285 | $ 66,000 |
| Cortland, New York | 11 | $ 1,160,000 | $ 105,454 | $ 47,000 |
| Oneida, New York | 11 | $ 1,134,000 | $ 103,090 | $ 49,000 |
| Broome, New York | 10 | $ 1,238,000 | $ 123,800 | $ 58,000 |
| Ontario, New York | 10 | $ 1,174,000 | $ 117,400 | $ 45,000 |
| Steuben, New York | 9 | $ 1,026,000 | $ 114,000 | $ 64,000 |
| Dutchess, New York | 8 | $ 1,798,000 | $ 224,750 | $ 86,000 |
| Bronx, New York | 7 | $ 4,370,000 | $ 624,285 | $ 89,000 |
| Warren, New York | 7 | $ 1,181,000 | $ 168,714 | $ 84,000 |
| Madison, New York | 6 | $ 978,000 | $ 163,000 | $ 80,000 |
| Tioga, New York | 6 | $ 840,000 | $ 140,000 | $ 78,000 |
| Fulton, New York | 5 | $ 887,000 | $ 177,400 | $ 57,000 |
| Montgomery, New York | 5 | $ 487,000 | $ 97,400 | $ 35,000 |
| Queens, New York | 5 | $ 2,018,000 | $ 403,600 | $ 98,000 |
| Suffolk, New York | 5 | $ 1,404,000 | $ 280,800 | $ 102,000 |
| Tompkins, New York | 5 | $ 399,000 | $ 79,800 | $ 49,000 |
| Cattaraugus, New York | 4 | $ 696,000 | $ 174,000 | $ 71,000 |
| Schoharie, New York | 4 | $ 538,000 | $ 134,500 | $ 63,000 |
| Wayne, New York | 4 | $ 492,000 | $ 123,000 | $ 39,000 |
| Westchester, New York | 4 | $ 1,571,000 | $ 392,750 | $ 131,000 |
| Cayuga, New York | 3 | $ 345,000 | $ 115,000 | $ 78,000 |
| Genesee, New York | 3 | $ 341,000 | $ 113,666 | $ 49,000 |
| Jefferson, New York | 3 | $ 457,000 | $ 152,333 | $ 66,000 |
| Kings, New York | 3 | $ 1,362,000 | $ 454,000 | $ 92,000 |
| Livingston, New York | 3 | $ 280,000 | $ 93,333 | $ 50,000 |
| Orleans, New York | 3 | $ 493,000 | $ 164,333 | $ 107,000 |
| Schuyler, New York | 3 | $ 447,000 | $ 149,000 | $ 49,000 |
| Sullivan, New York | 3 | $ 441,000 | $ 147,000 | $ 79,000 |
| Ulster, New York | 3 | $ 708,000 | $ 236,000 | $ 78,000 |
| Chautauqua, New York | 2 | $ 127,000 | $ 63,500 | $ 35,000 |
| Essex, New York | 2 | $ 329,000 | $ 164,500 | $ 48,000 |
| Nassau, New York | 2 | $ 869,000 | $ 434,500 | $ 123,000 |
| Washington, New York | 2 | $ 258,000 | $ 129,000 | $ 38,000 |
| Wyoming, New York | 2 | $ 137,000 | $ 68,500 | $ 47,000 |
| Chenango, New York | 1 | $ 97,000 | $ 97,000 | $ 64,000 |
| Clinton, New York | 1 | $ 72,000 | $ 72,000 | $ 29,000 |
| Columbia, New York | 1 | $ 281,000 | $ 281,000 | $ 130,000 |
| Putnam, New York | 1 | $ 415,000 | $ 415,000 | $ 0 |
| Richmond, New York | 1 | $ 571,000 | $ 571,000 | $ 142,000 |
| Rockland, New York | 1 | $ 360,000 | $ 360,000 | $ 91,000 |
| Seneca, New York | 1 | $ 151,000 | $ 151,000 | $ 64,000 |
Mortgage Loan Application Detail Totals for The Funding Source LLC in 2009
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 | 446 | $57,110,000 | $128,000 | $711,000 | $63,000 | $573,000 |
| Refinancing | 252 | $44,589,000 | $176,000 | $704,000 | $68,000 | $300,000 |
| Home Improvement | 4 | $527,000 | $131,000 | $211,000 | $52,000 | $86,000 |
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 | 552 | $73,164,000 | $132,000 | $663,000 | $62,000 | $573,000 |
| Not Provided | 86 | $15,754,000 | $183,000 | $560,000 | $75,000 | $194,000 |
| Black or African American | 41 | $9,018,000 | $219,000 | $711,000 | $67,000 | $227,000 |
| Hispanic | 14 | $2,890,000 | $206,000 | $504,000 | $74,000 | $143,000 |
| Asian | 5 | $948,000 | $189,000 | $371,000 | $76,000 | $140,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $398,000 | $132,000 | $172,000 | $63,000 | $100,000 |
| American Indian or Alaskan Native | 1 | $54,000 | $54,000 | $54,000 | $29,000 | $29,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 584 | $85,818,000 | $146,000 | $711,000 | $62,000 | $573,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 77 | $10,894,000 | $141,000 | $400,000 | $83,000 | $300,000 |
| VA-guaranteed (Veterans Administration) | 35 | $4,926,000 | $140,000 | $273,000 | $65,000 | $139,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 6 | $588,000 | $98,000 | $187,000 | $44,000 | $68,000 |
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 | 427 | $58,125,000 | $136,000 | $704,000 | $64,000 | $369,000 |
| Application Approved But Not Accepted | 104 | $17,878,000 | $171,000 | $663,000 | $74,000 | $573,000 |
| Application Denied By Financial Institution | 87 | $13,996,000 | $160,000 | $711,000 | $57,000 | $177,000 |
| Application Withdrawn By Applicant | 80 | $11,651,000 | $145,000 | $561,000 | $62,000 | $164,000 |
| File Closed For Incompleteness | 2 | $319,000 | $159,000 | $182,000 | $79,000 | $96,000 |
| Preapproval Approved but not Accepted | 2 | $257,000 | $128,000 | $192,000 | $47,000 | $57,000 |
| Preapproval Denied by Financial Institution | 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 |
|---|---|---|---|---|---|---|
| Credit History | 29 | $4,061,000 | $140,000 | $415,000 | $59,000 | $140,000 |
| Debt-To-Income Ratio | 22 | $4,736,000 | $215,000 | $511,000 | $56,000 | $149,000 |
| Other | 11 | $1,905,000 | $173,000 | $711,000 | $64,000 | $177,000 |
| Unverifiable Information | 6 | $898,000 | $149,000 | $404,000 | $57,000 | $104,000 |
| Collateral | 5 | $662,000 | $132,000 | $151,000 | $73,000 | $85,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $439,000 | $109,000 | $213,000 | $43,000 | $53,000 |
| Employment History | 3 | $272,000 | $90,000 | $123,000 | $38,000 | $54,000 |
| Credit Application Incomplete | 2 | $185,000 | $92,000 | $98,000 | $45,000 | $55,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Funding Source LLC's 2009 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 The Funding Source 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.
For a list of all lenders in New York, download the full spreadsheet
with aggregated HMDA statistics today.
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