Valley Mortgage Company, Inc. Mortgage Lending & HMDA Data, 2004
In 2004, Valley Mortgage Company, Inc. of McAllen, TX reported 1,410 mortgage applications totaling $136.8 million, down 26% from 2003. The average application was for $96,989, and applicants reported an average income of $67,570. 93% of its applications resulted in an originated loan and 2% were denied. Its largest markets were McAllen-Edinburg-Pharr, TX (582), Brownsville-Harlingen, TX (308) and Laredo, TX (174) (applications in parentheses).
| Mortgage Company & Address | Valley Mortgage Company, Inc. 1319 North 10th Street McAllen, TX 78501 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 1,410 |
| Total Mortgage Loan Application Amount | $136,755,000 |
| Average Mortgage Loan Application Amount | $96,989 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $67,570 |
| Highest Applicant Income | $684,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Valley Mortgage Company, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Valley Mortgage Company, 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 1,102 | $105,470,000 | $95,000 | $334,000 | $65,000 | $684,000 |
| Refinancing | 305 | $30,949,000 | $101,000 | $1,000,000 | $77,000 | $653,000 |
| Home Improvement | 3 | $336,000 | $112,000 | $149,000 | $53,000 | $60,000 |
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 | 930 | $83,987,000 | $90,000 | $304,000 | $55,000 | $285,000 |
| White | 417 | $44,462,000 | $106,000 | $334,000 | $72,000 | $507,000 |
| Asian | 20 | $2,430,000 | $121,000 | $275,000 | $107,000 | $684,000 |
| Not Provided | 17 | $2,777,000 | $163,000 | $1,000,000 | $157,000 | $653,000 |
| Not applicable | 14 | $1,938,000 | $138,000 | $273,000 | $77,000 | $149,000 |
| Black or African American | 7 | $752,000 | $107,000 | $206,000 | $98,000 | $266,000 |
| American Indian or Alaskan Native | 3 | $142,000 | $47,000 | $55,000 | $28,000 | $43,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $267,000 | $133,000 | $142,000 | $93,000 | $111,000 |
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) | 708 | $59,716,000 | $84,000 | $214,000 | $47,000 | $161,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 611 | $67,356,000 | $110,000 | $1,000,000 | $84,000 | $684,000 |
| VA-guaranteed (Veterans Administration) | 91 | $9,683,000 | $106,000 | $219,000 | $54,000 | $134,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 1,312 | $127,296,000 | $97,000 | $334,000 | $70,000 | $684,000 |
| Application Withdrawn By Applicant | 68 | $6,077,000 | $89,000 | $250,000 | $58,000 | $128,000 |
| Application Denied By Financial Institution | 22 | $1,474,000 | $67,000 | $206,000 | $42,000 | $110,000 |
| Application Approved But Not Accepted | 6 | $1,758,000 | $293,000 | $1,000,000 | $199,000 | $653,000 |
| File Closed For Incompleteness | 2 | $150,000 | $75,000 | $90,000 | $27,000 | $28,000 |
| 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 | 4 | $139,000 | $34,000 | $49,000 | $17,000 | $22,000 |
| Collateral | 1 | $23,000 | $23,000 | $23,000 | $28,000 | $28,000 |
| Credit History | 1 | $44,000 | $44,000 | $44,000 | $31,000 | $31,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Valley Mortgage Company, 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 Valley Mortgage Company, 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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