Universal Mortgage & Finance, Inc Mortgage Lending & HMDA Data, 2017
In 2017, Universal Mortgage & Finance, Inc of Edgewater, MD reported 2,238 mortgage applications totaling $524.3 million, down 36% from 2016. The average application was for $234,282, and applicants reported an average income of $66,820. 55% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Orlando-Kissimmee-Sanford, FL (465), Miami-Miami Beach-Kendall, FL (351) and Salisbury, MD-DE (196) (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 | 2,238 |
| Total Mortgage Loan Application Amount | $524,324,000 |
| Average Mortgage Loan Application Amount | $234,282 |
| Highest Mortgage Loan Application Amount | $2,577,000 |
| Average Applicant Income | $66,820 |
| Highest Applicant Income | $2,965,000 |
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Universal Mortgage & Finance, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2017
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 | 1,410 | $314,319,000 | $222,000 | $2,577,000 | $72,000 | $2,965,000 |
| Refinancing | 828 | $210,005,000 | $253,000 | $1,547,000 | $58,000 | $372,000 |
| 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 | 980 | $213,031,000 | $217,000 | $2,577,000 | $58,000 | $2,160,000 |
| White | 739 | $183,573,000 | $248,000 | $2,382,000 | $85,000 | $2,965,000 |
| Black or African American | 320 | $73,965,000 | $231,000 | $654,000 | $59,000 | $331,000 |
| Not Provided | 155 | $42,319,000 | $273,000 | $1,200,000 | $48,000 | $232,000 |
| Asian | 34 | $8,638,000 | $254,000 | $518,000 | $77,000 | $232,000 |
| American Indian or Alaskan Native | 5 | $1,198,000 | $239,000 | $384,000 | $60,000 | $110,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $1,600,000 | $320,000 | $460,000 | $70,000 | $120,000 |
| 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) | 903 | $194,072,000 | $214,000 | $636,000 | $53,000 | $331,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 828 | $195,053,000 | $235,000 | $2,577,000 | $87,000 | $2,965,000 |
| VA-guaranteed (Veterans Administration) | 439 | $122,877,000 | $279,000 | $730,000 | $58,000 | $250,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 68 | $12,322,000 | $181,000 | $328,000 | $56,000 | $102,000 |
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 | 1,222 | $284,138,000 | $232,000 | $2,577,000 | $82,000 | $2,965,000 |
| Application Withdrawn By Applicant | 749 | $182,194,000 | $243,000 | $2,382,000 | $49,000 | $2,147,000 |
| Application Denied By Financial Institution | 174 | $36,733,000 | $211,000 | $1,547,000 | $48,000 | $540,000 |
| File Closed For Incompleteness | 93 | $21,259,000 | $228,000 | $1,200,000 | $43,000 | $406,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 38 | $8,362,000 | $220,000 | $421,000 | $57,000 | $540,000 |
| Debt-To-Income Ratio | 33 | $6,891,000 | $208,000 | $465,000 | $40,000 | $123,000 |
| Collateral | 32 | $5,339,000 | $166,000 | $295,000 | $56,000 | $215,000 |
| Other | 26 | $4,916,000 | $189,000 | $389,000 | $41,000 | $77,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 19 | $4,330,000 | $227,000 | $932,000 | $46,000 | $194,000 |
| Unverifiable Information | 18 | $4,087,000 | $227,000 | $420,000 | $43,000 | $168,000 |
| Employment History | 8 | $2,808,000 | $351,000 | $1,547,000 | $32,000 | $58,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Universal Mortgage & Finance, Inc's 2017 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.
For a list of all lenders in Maryland, download the full spreadsheet
with aggregated HMDA statistics today.
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