United Mortgage Investors, Inc Mortgage Lending & HMDA Data, 2004
In 2004, United Mortgage Investors, Inc of Miami, FL reported 601 mortgage applications totaling $89.4 million, down 67% from 2003. The average application was for $148,712, and applicants reported an average income of $68,549. 92% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Miami-Miami Beach-Kendall, FL (261), Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (125) and West Palm Beach-Boca Raton-Boynton Beach, FL (71) (applications in parentheses).
| Mortgage Company & Address | United Mortgage Investors, Inc 10625 North Kendall Drive Miami, FL 33176 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 601 |
| Total Mortgage Loan Application Amount | $89,376,000 |
| Average Mortgage Loan Application Amount | $148,712 |
| Highest Mortgage Loan Application Amount | $460,000 |
| Average Applicant Income | $68,549 |
| Highest Applicant Income | $377,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records United Mortgage Investors, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Miami-Miami Beach-Kendall, FL | 261 | $ 40,568,000 | $ 155,432 | $ 83,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 125 | $ 18,971,000 | $ 151,768 | $ 64,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 71 | $ 10,142,000 | $ 142,845 | $ 56,000 |
| Tampa-St. Petersburg-Clearwater, FL | 29 | $ 3,839,000 | $ 132,379 | $ 84,000 |
| Orlando, FL | 24 | $ 3,302,000 | $ 137,583 | $ 72,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 11 | $ 1,536,000 | $ 139,636 | $ 49,000 |
| Port St. Lucie-Fort Pierce, FL | 11 | $ 1,613,000 | $ 146,636 | $ 72,000 |
| Sarasota-Bradenton-Venice, FL | 8 | $ 1,238,000 | $ 154,750 | $ 64,000 |
| Jacksonville, FL | 5 | $ 351,000 | $ 70,200 | $ 64,000 |
| Cape Coral-Fort Myers, FL | 4 | $ 492,000 | $ 123,000 | $ 73,000 |
| Tallahassee, FL | 3 | $ 308,000 | $ 102,666 | $ 61,000 |
| Naples-Marco Island, FL | 2 | $ 303,000 | $ 151,500 | $ 53,000 |
| Fort Walton Beach-Crestview-Destin, FL | 1 | $ 104,000 | $ 104,000 | $ 121,000 |
Mortgage Loan Application Detail Totals for United Mortgage Investors, Inc in 2004
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 | 354 | $50,230,000 | $141,000 | $377,000 | $60,000 | $270,000 |
| Home Purchase | 240 | $38,186,000 | $159,000 | $460,000 | $81,000 | $377,000 |
| Home Improvement | 7 | $960,000 | $137,000 | $182,000 | $74,000 | $186,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 262 | $39,103,000 | $149,000 | $460,000 | $61,000 | $221,000 |
| White | 255 | $38,306,000 | $150,000 | $377,000 | $78,000 | $377,000 |
| Black or African American | 51 | $6,853,000 | $134,000 | $291,000 | $54,000 | $231,000 |
| Not Provided | 20 | $3,233,000 | $161,000 | $341,000 | $80,000 | $168,000 |
| Asian | 10 | $1,300,000 | $130,000 | $250,000 | $61,000 | $114,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $385,000 | $192,000 | $249,000 | $92,000 | $126,000 |
| American Indian or Alaskan Native | 1 | $196,000 | $196,000 | $196,000 | $105,000 | $105,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 601 | $89,376,000 | $148,000 | $460,000 | $70,000 | $377,000 |
| 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 | 553 | $81,936,000 | $148,000 | $460,000 | $70,000 | $354,000 |
| Application Withdrawn By Applicant | 26 | $3,952,000 | $152,000 | $325,000 | $65,000 | $377,000 |
| Application Denied By Financial Institution | 15 | $2,702,000 | $180,000 | $330,000 | $84,000 | $377,000 |
| Application Approved But Not Accepted | 6 | $611,000 | $101,000 | $170,000 | $47,000 | $102,000 |
| File Closed For Incompleteness | 1 | $175,000 | $175,000 | $175,000 | $109,000 | $109,000 |
| 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 | 3 | $560,000 | $186,000 | $276,000 | $44,000 | $47,000 |
| Unverifiable Information | 3 | $505,000 | $168,000 | $210,000 | $95,000 | $176,000 |
| Credit History | 2 | $192,000 | $96,000 | $134,000 | $36,000 | $50,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $365,000 | $182,000 | $247,000 | $67,000 | $91,000 |
| Collateral | 2 | $270,000 | $135,000 | $220,000 | $51,000 | $66,000 |
| Credit Application Incomplete | 1 | $325,000 | $325,000 | $325,000 | $377,000 | $377,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into United Mortgage Investors, Inc's 2004 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 Investors, Inc'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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