USA Federal Credit Union Mortgage Lending & HMDA Data, 2008
In 2008, USA Federal Credit Union of San Diego, CA reported 252 mortgage applications totaling $75.2 million, down 18% from 2007. The average application was for $298,500, and applicants reported an average income of $110,944. 52% of its applications resulted in an originated loan and 27% were denied. Its largest markets were San Diego-Carlsbad-San Marcos, CA (105), Riverside-San Bernardino-Ontario, CA (37) and Las Vegas-Paradise, NV (23) (applications in parentheses).
| Mortgage Company & Address | USA Federal Credit Union 9999 Willow Creek Road San Diego, CA 92131 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 252 |
| Total Mortgage Loan Application Amount | $75,222,000 |
| Average Mortgage Loan Application Amount | $298,500 |
| Highest Mortgage Loan Application Amount | $1,260,000 |
| Average Applicant Income | $110,944 |
| Highest Applicant Income | $492,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records USA Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| San Diego-Carlsbad-San Marcos, CA | 105 | $ 35,734,000 | $ 340,323 | $ 125,000 |
| Riverside-San Bernardino-Ontario, CA | 37 | $ 10,547,000 | $ 285,054 | $ 100,000 |
| Las Vegas-Paradise, NV | 23 | $ 5,645,000 | $ 245,434 | $ 96,000 |
| Los Angeles-Long Beach-Glendale, CA | 10 | $ 2,231,000 | $ 223,100 | $ 107,000 |
| Bakersfield, CA | 2 | $ 120,000 | $ 60,000 | $ 105,000 |
| Portland-Vancouver-Beaverton, OR-WA | 2 | $ 337,000 | $ 168,500 | $ 95,500 |
| Santa Ana-Anaheim-Irvine, CA | 2 | $ 1,271,000 | $ 635,500 | $ 172,000 |
| Warren-Troy-Farmington Hills, MI | 2 | $ 349,000 | $ 174,500 | $ 83,000 |
| Boise City-Nampa, ID | 1 | $ 292,000 | $ 292,000 | $ 73,000 |
| El Centro, CA | 1 | $ 235,000 | $ 235,000 | $ 78,000 |
| Oakland-Fremont-Hayward, CA | 1 | $ 350,000 | $ 350,000 | $ 73,000 |
| Reno-Sparks, NV | 1 | $ 486,000 | $ 486,000 | $ 128,000 |
| Seattle-Bellevue-Everett, WA | 1 | $ 255,000 | $ 255,000 | $ 186,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 1 | $ 300,000 | $ 300,000 | $ 82,000 |
Mortgage Loan Application Detail Totals for USA Federal Credit Union 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 |
|---|---|---|---|---|---|---|
| Refinancing | 143 | $47,147,000 | $329,000 | $1,260,000 | $117,000 | $492,000 |
| Home Purchase | 109 | $28,075,000 | $257,000 | $1,000,000 | $103,000 | $341,000 |
| 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 | 109 | $33,944,000 | $311,000 | $1,260,000 | $123,000 | $492,000 |
| Not Provided | 59 | $18,141,000 | $307,000 | $910,000 | $110,000 | $288,000 |
| Hispanic | 38 | $9,402,000 | $247,000 | $515,000 | $83,000 | $185,000 |
| Asian | 27 | $8,919,000 | $330,000 | $875,000 | $114,000 | $230,000 |
| Black or African American | 15 | $3,752,000 | $250,000 | $1,000,000 | $91,000 | $206,000 |
| Native Hawaiian or Other Pacific Islander | 4 | $1,064,000 | $266,000 | $525,000 | $126,000 | $146,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 252 | $75,222,000 | $298,000 | $1,260,000 | $111,000 | $492,000 |
| 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 | 131 | $36,826,000 | $281,000 | $1,260,000 | $123,000 | $492,000 |
| Application Denied By Financial Institution | 68 | $23,091,000 | $339,000 | $1,250,000 | $90,000 | $240,000 |
| Application Withdrawn By Applicant | 29 | $9,165,000 | $316,000 | $910,000 | $104,000 | $288,000 |
| File Closed For Incompleteness | 24 | $6,140,000 | $255,000 | $563,000 | $111,000 | $228,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 33 | $10,388,000 | $314,000 | $855,000 | $81,000 | $230,000 |
| Credit Application Incomplete | 12 | $4,931,000 | $410,000 | $800,000 | $111,000 | $236,000 |
| Credit History | 10 | $3,076,000 | $307,000 | $468,000 | $77,000 | $137,000 |
| Collateral | 9 | $3,836,000 | $426,000 | $1,250,000 | $110,000 | $240,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $100,000 | $100,000 | $100,000 | $36,000 | $36,000 |
| Mortgage Insurance Denied | 1 | $265,000 | $265,000 | $265,000 | $86,000 | $86,000 |
| Other | 1 | $417,000 | $417,000 | $417,000 | $92,000 | $92,000 |
| Unverifiable Information | 1 | $78,000 | $78,000 | $78,000 | $175,000 | $175,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into USA Federal Credit Union'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 USA Federal Credit Union'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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