United Funding Mortgage Corp. Mortgage Lending & HMDA Data, 2008
In 2008, United Funding Mortgage Corp. of Alpharetta, GA reported 67 mortgage applications totaling $10.1 million, down 80% from 2007. The average application was for $150,104, and applicants reported an average income of $93,641. 75% of its applications resulted in an originated loan and 22% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (64) and Birmingham-Hoover, AL (1).
| Mortgage Company & Address | United Funding Mortgage Corp. 6485 Shiloh Road Bld B Ste 102 Alpharetta, GA 30005 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 |
| Total Number of Mortgage Applications | 67 |
| Total Mortgage Loan Application Amount | $10,057,000 |
| Average Mortgage Loan Application Amount | $150,104 |
| Highest Mortgage Loan Application Amount | $352,000 |
| Average Applicant Income | $93,641 |
| Highest Applicant Income | $347,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records United Funding 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 filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 United Funding Mortgage Corp. 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 | 42 | $6,409,000 | $152,000 | $350,000 | $72,000 | $217,000 |
| Refinancing | 25 | $3,648,000 | $145,000 | $352,000 | $130,000 | $347,000 |
| 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 | 44 | $6,396,000 | $145,000 | $350,000 | $102,000 | $347,000 |
| Black or African American | 12 | $2,169,000 | $180,000 | $352,000 | $97,000 | $217,000 |
| Hispanic | 7 | $795,000 | $113,000 | $166,000 | $59,000 | $80,000 |
| Asian | 2 | $350,000 | $175,000 | $247,000 | $48,000 | $59,000 |
| American Indian or Alaskan Native | 1 | $221,000 | $221,000 | $221,000 | $97,000 | $97,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $126,000 | $126,000 | $126,000 | $45,000 | $45,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 41 | $7,082,000 | $172,000 | $352,000 | $68,000 | $213,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 23 | $2,572,000 | $111,000 | $344,000 | $143,000 | $347,000 |
| VA-guaranteed (Veterans Administration) | 3 | $403,000 | $134,000 | $166,000 | $65,000 | $94,000 |
| 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 | 50 | $7,197,000 | $143,000 | $344,000 | $93,000 | $347,000 |
| Application Denied By Financial Institution | 15 | $2,543,000 | $169,000 | $352,000 | $95,000 | $210,000 |
| Application Withdrawn By Applicant | 2 | $317,000 | $158,000 | $176,000 | $102,000 | $154,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 5 | $868,000 | $173,000 | $350,000 | $70,000 | $148,000 |
| Unverifiable Information | 5 | $703,000 | $140,000 | $234,000 | $138,000 | $210,000 |
| Collateral | 2 | $247,000 | $123,000 | $132,000 | $43,000 | $49,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $208,000 | $208,000 | $208,000 | $95,000 | $95,000 |
| Credit History | 1 | $352,000 | $352,000 | $352,000 | $121,000 | $121,000 |
| Other | 1 | $165,000 | $165,000 | $165,000 | $81,000 | $81,000 |
| 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 United Funding Mortgage Corp.'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 United Funding 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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