Universal Mortgage & Finance, Inc Mortgage Lending & HMDA Data, 2016
In 2016, Universal Mortgage & Finance, Inc of Edgewater, MD reported 3,475 mortgage applications totaling $779.8 million, up 44% from 2015. The average application was for $224,398, and applicants reported an average income of $79,877. 61% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Miami-Miami Beach-Kendall, FL (894), Orlando-Kissimmee-Sanford, FL (495) and Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (308) (applications in parentheses).
| Mortgage Company & Address | Universal Mortgage & Finance, Inc 3158 Braverton Street Suite 204 Edgewater, MD 21037 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 3,475 |
| Total Mortgage Loan Application Amount | $779,785,000 |
| Average Mortgage Loan Application Amount | $224,398 |
| Highest Mortgage Loan Application Amount | $1,180,000 |
| Average Applicant Income | $79,877 |
| Highest Applicant Income | $2,698,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Universal Mortgage & Finance, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Universal Mortgage & Finance, Inc in 2016
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 | 2,345 | $496,942,000 | $211,000 | $760,000 | $75,000 | $2,698,000 |
| Refinancing | 1,130 | $282,843,000 | $250,000 | $1,180,000 | $90,000 | $720,000 |
| 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 |
|---|---|---|---|---|---|---|
| Hispanic | 1,659 | $352,993,000 | $212,000 | $1,180,000 | $75,000 | $2,698,000 |
| White | 1,083 | $255,031,000 | $235,000 | $827,000 | $92,000 | $720,000 |
| Black or African American | 443 | $95,277,000 | $215,000 | $715,000 | $68,000 | $283,000 |
| Not Provided | 232 | $59,549,000 | $256,000 | $720,000 | $82,000 | $247,000 |
| Asian | 43 | $13,435,000 | $312,000 | $633,000 | $106,000 | $321,000 |
| Native Hawaiin or Other Pacific Islander | 8 | $1,520,000 | $190,000 | $247,000 | $55,000 | $71,000 |
| American Indian or Alaskan Native | 7 | $1,980,000 | $282,000 | $625,000 | $109,000 | $257,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 1,550 | $315,987,000 | $203,000 | $626,000 | $62,000 | $314,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,333 | $301,151,000 | $225,000 | $1,180,000 | $100,000 | $2,698,000 |
| VA-guaranteed (Veterans Administration) | 508 | $148,913,000 | $293,000 | $827,000 | $87,000 | $420,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 84 | $13,734,000 | $163,000 | $325,000 | $54,000 | $111,000 |
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 | 2,122 | $484,880,000 | $228,000 | $1,180,000 | $80,000 | $2,698,000 |
| Application Withdrawn By Applicant | 673 | $147,718,000 | $219,000 | $775,000 | $84,000 | $720,000 |
| File Closed For Incompleteness | 414 | $97,134,000 | $234,000 | $760,000 | $87,000 | $1,440,000 |
| Application Denied By Financial Institution | 262 | $49,323,000 | $188,000 | $563,000 | $62,000 | $283,000 |
| Application Approved But Not Accepted | 4 | $730,000 | $182,000 | $228,000 | $146,000 | $340,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 60 | $11,835,000 | $197,000 | $563,000 | $69,000 | $264,000 |
| Debt-To-Income Ratio | 60 | $12,099,000 | $201,000 | $444,000 | $54,000 | $157,000 |
| Credit History | 53 | $9,976,000 | $188,000 | $388,000 | $69,000 | $283,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 26 | $4,768,000 | $183,000 | $417,000 | $60,000 | $145,000 |
| Unverifiable Information | 22 | $3,844,000 | $174,000 | $300,000 | $55,000 | $197,000 |
| Other | 15 | $2,357,000 | $157,000 | $297,000 | $58,000 | $125,000 |
| Employment History | 10 | $1,571,000 | $157,000 | $313,000 | $48,000 | $94,000 |
| Credit Application Incomplete | 1 | $271,000 | $271,000 | $271,000 | $132,000 | $132,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Universal Mortgage & Finance, Inc's 2016 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 Universal Mortgage & Finance, 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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