The Mortgage Outlet Mortgage Lending & HMDA Data, 2008
In 2008, The Mortgage Outlet of San Jose, CA reported 390 mortgage applications totaling $107.9 million, down 79% from 2007. The average application was for $276,779, and applicants reported an average income of $87,476. 24% of its applications resulted in an originated loan and 41% were denied. Its largest markets were Las Vegas-Paradise, NV (47), Los Angeles-Long Beach-Glendale, CA (44) and Denver-Aurora, CO (26) (applications in parentheses).
| Mortgage Company & Address | The Mortgage Outlet 200 N. Almaden Blvd. Suite 200 San Jose, CA 95110 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 390 |
| Total Mortgage Loan Application Amount | $107,944,000 |
| Average Mortgage Loan Application Amount | $276,779 |
| Highest Mortgage Loan Application Amount | $1,612,000 |
| Average Applicant Income | $87,476 |
| Highest Applicant Income | $1,617,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Mortgage Outlet filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Las Vegas-Paradise, NV | 47 | $ 14,419,000 | $ 306,787 | $ 121,000 |
| Los Angeles-Long Beach-Glendale, CA | 44 | $ 16,945,000 | $ 385,113 | $ 96,000 |
| Denver-Aurora, CO | 26 | $ 5,766,000 | $ 221,769 | $ 105,000 |
| Phoenix-Mesa-Scottsdale, AZ | 25 | $ 5,082,000 | $ 203,280 | $ 70,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 21 | $ 8,510,000 | $ 405,238 | $ 129,000 |
| Riverside-San Bernardino-Ontario, CA | 20 | $ 5,334,000 | $ 266,700 | $ 87,000 |
| Seattle-Bellevue-Everett, WA | 17 | $ 4,650,000 | $ 273,529 | $ 90,000 |
| Oakland-Fremont-Hayward, CA | 15 | $ 7,004,000 | $ 466,933 | $ 117,000 |
| Portland-Vancouver-Beaverton, OR-WA | 11 | $ 2,308,000 | $ 209,818 | $ 68,727 |
| Bakersfield, CA | 9 | $ 2,076,000 | $ 230,666 | $ 77,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 8 | $ 1,650,000 | $ 206,250 | $ 48,000 |
| Salt Lake City, UT | 8 | $ 2,173,000 | $ 271,625 | $ 69,000 |
| Tacoma, WA | 8 | $ 1,869,000 | $ 233,625 | $ 67,000 |
| Ogden-Clearfield, UT | 7 | $ 1,380,000 | $ 197,142 | $ 70,000 |
| Fresno, CA | 5 | $ 977,000 | $ 195,400 | $ 63,000 |
| San Diego-Carlsbad-San Marcos, CA | 5 | $ 1,785,000 | $ 357,000 | $ 77,000 |
| Spokane, WA | 5 | $ 884,000 | $ 176,800 | $ 48,000 |
| Visalia-Porterville, CA | 5 | $ 978,000 | $ 195,600 | $ 86,000 |
| Tucson, AZ | 4 | $ 1,010,000 | $ 252,500 | $ 73,000 |
| Lake Havasu City-Kingman, AZ | 3 | $ 444,000 | $ 148,000 | $ 49,000 |
| Modesto, CA | 3 | $ 541,000 | $ 180,333 | $ 75,000 |
| Salem, OR | 3 | $ 640,000 | $ 213,333 | $ 51,000 |
| Santa Ana-Anaheim-Irvine, CA | 3 | $ 1,537,000 | $ 512,333 | $ 81,000 |
| Stockton, CA | 3 | $ 586,000 | $ 195,333 | $ 36,000 |
| Yakima, WA | 3 | $ 560,000 | $ 186,666 | $ 57,000 |
| Eugene-Springfield, OR | 2 | $ 369,000 | $ 184,500 | $ 50,000 |
| Kennewick-Pasco-Richland, WA | 2 | $ 269,000 | $ 134,500 | $ 33,000 |
| Mount Vernon-Anacortes, WA | 2 | $ 445,000 | $ 222,500 | $ 68,000 |
| Provo-Orem, UT | 2 | $ 503,000 | $ 251,500 | $ 71,000 |
| Reno-Sparks, NV | 2 | $ 628,000 | $ 314,000 | $ 83,000 |
| Santa Barbara-Santa Maria-Goleta, CA | 2 | $ 595,000 | $ 297,500 | $ 104,000 |
| Santa Cruz-Watsonville, CA | 2 | $ 1,127,000 | $ 563,500 | $ 197,000 |
| Santa Rosa-Petaluma, CA | 2 | $ 795,000 | $ 397,500 | $ 96,000 |
| Bellingham, WA | 1 | $ 330,000 | $ 330,000 | $ 78,000 |
| Boulder, CO | 1 | $ 284,000 | $ 284,000 | $ 81,000 |
| Bremerton-Silverdale, WA | 1 | $ 222,000 | $ 222,000 | $ 107,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 106,000 | $ 106,000 | $ 54,000 |
| Chico, CA | 1 | $ 260,000 | $ 260,000 | $ 86,000 |
| Colorado Springs, CO | 1 | $ 231,000 | $ 231,000 | $ 64,000 |
| El Centro, CA | 1 | $ 173,000 | $ 173,000 | $ 325,000 |
| Fort Collins-Loveland, CO | 1 | $ 185,000 | $ 185,000 | $ 43,000 |
| Grand Junction, CO | 1 | $ 163,000 | $ 163,000 | $ 30,000 |
| Hanford-Corcoran, CA | 1 | $ 208,000 | $ 208,000 | $ 59,000 |
| Medford, OR | 1 | $ 255,000 | $ 255,000 | $ 36,000 |
| Merced, CA | 1 | $ 148,000 | $ 148,000 | $ 96,000 |
| Olympia, WA | 1 | $ 239,000 | $ 239,000 | $ 76,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 250,000 | $ 250,000 | $ 3,000 |
| Prescott, AZ | 1 | $ 252,000 | $ 252,000 | $ 81,000 |
| Pueblo, CO | 1 | $ 112,000 | $ 112,000 | $ 81,000 |
| Salinas, CA | 1 | $ 286,000 | $ 286,000 | $ 41,000 |
| San Francisco-San Mateo-Redwood City, CA | 1 | $ 290,000 | $ 290,000 | $ 97,000 |
| Yuma, AZ | 1 | $ 401,000 | $ 401,000 | $ 87,000 |
Mortgage Loan Application Detail Totals for The Mortgage Outlet 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 |
|---|---|---|---|---|---|---|
| Refinancing | 324 | $86,504,000 | $266,000 | $730,000 | $78,000 | $530,000 |
| Home Purchase | 66 | $21,440,000 | $324,000 | $1,612,000 | $134,000 | $1,617,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 198 | $54,136,000 | $273,000 | $1,612,000 | $85,000 | $530,000 |
| Hispanic | 94 | $22,842,000 | $243,000 | $595,000 | $65,000 | $158,000 |
| Not Provided | 38 | $10,852,000 | $285,000 | $693,000 | $109,000 | $540,000 |
| Black or African American | 31 | $8,512,000 | $274,000 | $573,000 | $94,000 | $325,000 |
| Asian | 21 | $7,656,000 | $364,000 | $1,073,000 | $104,000 | $396,000 |
| Native Hawaiian or Other Pacific Islander | 8 | $3,946,000 | $493,000 | $1,600,000 | $262,000 | $1,617,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 213 | $58,578,000 | $275,000 | $1,612,000 | $96,000 | $1,617,000 |
| FHA-insured (Federal Housing Administration) | 175 | $48,985,000 | $279,000 | $722,000 | $78,000 | $325,000 |
| VA-guaranteed (Veterans Administration) | 2 | $381,000 | $190,000 | $255,000 | $73,000 | $114,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 158 | $42,873,000 | $271,000 | $870,000 | $77,000 | $325,000 |
| Application Withdrawn By Applicant | 137 | $38,377,000 | $280,000 | $722,000 | $91,000 | $540,000 |
| Loan Originated | 93 | $26,295,000 | $282,000 | $1,612,000 | $100,000 | $1,617,000 |
| Application Approved But Not Accepted | 2 | $399,000 | $199,000 | $236,000 | $78,000 | $84,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 46 | $13,161,000 | $286,000 | $595,000 | $67,000 | $153,000 |
| Credit History | 35 | $8,175,000 | $233,000 | $693,000 | $73,000 | $209,000 |
| Collateral | 31 | $9,477,000 | $305,000 | $624,000 | $84,000 | $183,000 |
| Unverifiable Information | 5 | $2,243,000 | $448,000 | $870,000 | $119,000 | $198,000 |
| Other | 1 | $150,000 | $150,000 | $150,000 | $97,000 | $97,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $246,000 | $246,000 | $246,000 | $83,000 | $83,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Mortgage Outlet'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 Outlet'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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