United Mortgage Company-Washte Mortgage Lending & HMDA Data, 2005
In 2005, United Mortgage Company-Washte of Ann Arbor, MI reported 251 mortgage applications totaling $46.1 million. The average application was for $183,725, and applicants reported an average income of $129,294. 90% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Ann Arbor, MI (154), Monroe, MI (13) and Warren-Farmington Hills-Troy, MI (13) (applications in parentheses).
| Mortgage Company & Address | United Mortgage Company-Washte 2723 S State St Ann Arbor, MI 48106 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 |
| Total Number of Mortgage Applications | 251 |
| Total Mortgage Loan Application Amount | $46,115,000 |
| Average Mortgage Loan Application Amount | $183,725 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $129,294 |
| Highest Applicant Income | $1,389,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records United Mortgage Company-Washte filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mortgage Company-Washte in 2005
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 | 164 | $28,912,000 | $159,500 | $632,000 | $82,500 | $1,389,000 |
| Home Purchase | 87 | $17,203,000 | $480,400 | $1,500,000 | $364,000 | $1,389,000 |
| 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 | 236 | $43,910,000 | $457,400 | $1,500,000 | $332,200 | $1,389,000 |
| Black or African American | 10 | $1,645,000 | $206,000 | $314,000 | $152,500 | $219,000 |
| Hispanic | 4 | $470,000 | $117,000 | $155,000 | $74,000 | $161,000 |
| Not Provided | 1 | $90,000 | $90,000 | $90,000 | $65,000 | $65,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 251 | $46,115,000 | $423,666 | $1,500,000 | $311,000 | $1,389,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 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 | 226 | $41,670,000 | $423,666 | $1,500,000 | $313,000 | $1,389,000 |
| Application Approved But Not Accepted | 19 | $3,496,000 | $184,000 | $360,000 | $97,000 | $244,000 |
| Application Denied By Financial Institution | 4 | $534,000 | $133,000 | $189,000 | $57,000 | $73,000 |
| Application Withdrawn By Applicant | 2 | $415,000 | $207,000 | $360,000 | $86,000 | $139,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 2 | $220,000 | $110,000 | $125,000 | $43,000 | $58,000 |
| Credit History | 1 | $189,000 | $189,000 | $189,000 | $73,000 | $73,000 |
| Debt-To-Income Ratio | 1 | $125,000 | $125,000 | $125,000 | $55,000 | $55,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into United Mortgage Company-Washte's 2005 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 Mortgage Company-Washte'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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