The Mortgage Group, LLC Mortgage Lending & HMDA Data, 2008
In 2008, The Mortgage Group, LLC of Fairfax, VA reported 140 mortgage applications totaling $51.9 million. The average application was for $370,642, and applicants reported an average income of $132,000. 45% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (119) and Winchester, VA-WV (21).
| Mortgage Company & Address | The Mortgage Group, LLC 8500 Executive Park Ave., #310 Fairfax, VA 22031 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 |
| Total Number of Mortgage Applications | 140 |
| Total Mortgage Loan Application Amount | $51,890,000 |
| Average Mortgage Loan Application Amount | $370,642 |
| Highest Mortgage Loan Application Amount | $763,000 |
| Average Applicant Income | $132,000 |
| Highest Applicant Income | $424,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Mortgage Group, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Prince William, Virginia | 79 | $ 29,180,000 | $ 369,367 | $ 125,000 |
| Frederick, Virginia | 21 | $ 6,546,000 | $ 311,714 | $ 100,000 |
| Stafford, Virginia | 21 | $ 7,140,000 | $ 340,000 | $ 114,000 |
| Loudoun, Virginia | 18 | $ 8,284,000 | $ 460,222 | $ 220,000 |
| Fairfax, Virginia | 1 | $ 740,000 | $ 740,000 | $ 254,000 |
Mortgage Loan Application Detail Totals for The Mortgage Group, LLC in 2008
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 | 140 | $51,890,000 | $370,000 | $763,000 | $132,000 | $424,000 |
| Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| White | 60 | $22,906,000 | $381,000 | $763,000 | $153,000 | $368,000 |
| Not Provided | 32 | $11,364,000 | $355,000 | $722,000 | $112,000 | $293,000 |
| Black or African American | 29 | $11,476,000 | $395,000 | $724,000 | $133,000 | $424,000 |
| Asian | 10 | $3,390,000 | $339,000 | $560,000 | $111,000 | $174,000 |
| Hispanic | 9 | $2,754,000 | $306,000 | $545,000 | $91,000 | $218,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 76 | $28,432,000 | $374,000 | $740,000 | $117,000 | $254,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 55 | $19,862,000 | $361,000 | $763,000 | $150,000 | $424,000 |
| VA-guaranteed (Veterans Administration) | 9 | $3,596,000 | $399,000 | $545,000 | $158,000 | $349,000 |
| 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 | 63 | $22,227,000 | $352,000 | $740,000 | $126,000 | $265,000 |
| Application Withdrawn By Applicant | 60 | $24,331,000 | $405,000 | $763,000 | $153,000 | $424,000 |
| Application Denied By Financial Institution | 15 | $4,532,000 | $302,000 | $590,000 | $80,000 | $134,000 |
| File Closed For Incompleteness | 2 | $800,000 | $400,000 | $498,000 | $117,000 | $166,000 |
| Application Approved But Not Accepted | 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 | 9 | $3,009,000 | $334,000 | $590,000 | $86,000 | $134,000 |
| Debt-To-Income Ratio | 4 | $826,000 | $206,000 | $248,000 | $64,000 | $96,000 |
| Other | 2 | $697,000 | $348,000 | $382,000 | $81,000 | $83,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Mortgage Group, LLC's 2008 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 Mortgage Group, 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 Virginia, download the full spreadsheet
with aggregated HMDA statistics today.
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