Wachovia Financial Services Mortgage Lending & HMDA Data, 2007
In 2007, Wachovia Financial Services of Winston-Salem, NC reported 300 mortgage applications totaling $30.4 million. The average application was for $101,380, and applicants reported an average income of $98,513. 22% of its applications resulted in an originated loan and 44% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (45), Phoenix-Mesa-Scottsdale, AZ (32) and Denver-Aurora, CO (16) (applications in parentheses).
| Mortgage Company & Address | Wachovia Financial Services 100 N Main Street Mac D4001-063 Winston-Salem, NC 27150 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 300 |
| Total Mortgage Loan Application Amount | $30,414,000 |
| Average Mortgage Loan Application Amount | $101,380 |
| Highest Mortgage Loan Application Amount | $500,000 |
| Average Applicant Income | $98,513 |
| Highest Applicant Income | $621,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Wachovia Financial Services filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Maricopa, Arizona | 29 | $ 3,417,000 | $ 117,827 | $ 102,000 |
| Cook, Illinois | 21 | $ 1,675,000 | $ 79,761 | $ 111,000 |
| Clark, Nevada | 16 | $ 3,444,000 | $ 215,250 | $ 160,000 |
| Milwaukee, Wisconsin | 12 | $ 1,175,000 | $ 97,916 | $ 64,000 |
| DuPage, Illinois | 9 | $ 1,041,000 | $ 115,666 | $ 104,000 |
| Pima, Arizona | 8 | $ 1,044,000 | $ 130,500 | $ 87,000 |
| Will, Illinois | 7 | $ 719,000 | $ 102,714 | $ 82,000 |
| Tulsa, Oklahoma | 7 | $ 1,013,000 | $ 144,714 | $ 90,000 |
| El Paso, Colorado | 6 | $ 610,000 | $ 101,666 | $ 114,000 |
| Jefferson, Colorado | 6 | $ 814,000 | $ 135,666 | $ 101,000 |
| Rockingham, New Hampshire | 6 | $ 613,000 | $ 102,166 | $ 99,000 |
| Denver, Colorado | 5 | $ 551,000 | $ 110,200 | $ 63,000 |
| Larimer, Colorado | 5 | $ 534,000 | $ 106,800 | $ 96,000 |
| Kane, Illinois | 5 | $ 277,000 | $ 55,400 | $ 119,000 |
| Lake, Illinois | 5 | $ 401,000 | $ 80,200 | $ 92,000 |
| Winnebago, Illinois | 5 | $ 240,000 | $ 48,000 | $ 38,000 |
| Hillsborough, New Hampshire | 5 | $ 680,000 | $ 136,000 | $ 85,000 |
| Anchorage, Alaska | 4 | $ 311,000 | $ 77,750 | $ 144,000 |
| Shawnee, Kansas | 4 | $ 114,000 | $ 28,500 | $ 64,000 |
| Wyandotte, Kansas | 4 | $ 77,000 | $ 19,250 | $ 25,000 |
| Washoe, Nevada | 4 | $ 626,000 | $ 156,500 | $ 269,000 |
| Oklahoma, Oklahoma | 4 | $ 465,000 | $ 116,250 | $ 167,000 |
| Matanuska-Susitna, Alaska | 3 | $ 260,000 | $ 86,666 | $ 154,000 |
| Mohave, Arizona | 3 | $ 259,000 | $ 86,333 | $ 52,000 |
| Pinal, Arizona | 3 | $ 145,000 | $ 48,333 | $ 52,000 |
| Douglas, Colorado | 3 | $ 444,000 | $ 148,000 | $ 179,000 |
| Champaign, Illinois | 3 | $ 131,000 | $ 43,666 | $ 52,000 |
| Johnson, Kansas | 3 | $ 278,000 | $ 92,666 | $ 116,000 |
| McClain, Oklahoma | 3 | $ 282,000 | $ 94,000 | $ 31,000 |
| Brown, Wisconsin | 3 | $ 105,000 | $ 35,000 | $ 43,000 |
| Dane, Wisconsin | 3 | $ 197,000 | $ 65,666 | $ 78,000 |
| Outagamie, Wisconsin | 3 | $ 115,000 | $ 38,333 | $ 74,000 |
| Kenai Peninsula, Alaska | 2 | $ 250,000 | $ 125,000 | $ 60,000 |
| Delta, Colorado | 2 | $ 126,000 | $ 63,000 | $ 116,000 |
| La Plata, Colorado | 2 | $ 312,000 | $ 156,000 | $ 115,000 |
| Montrose, Colorado | 2 | $ 80,000 | $ 40,000 | $ 69,000 |
| Summit, Colorado | 2 | $ 382,000 | $ 191,000 | $ 180,000 |
| Kankakee, Illinois | 2 | $ 111,000 | $ 55,500 | $ 68,000 |
| McHenry, Illinois | 2 | $ 115,000 | $ 57,500 | $ 79,000 |
| St. Clair, Illinois | 2 | $ 40,000 | $ 20,000 | $ 71,000 |
| Sedgwick, Kansas | 2 | $ 87,000 | $ 43,500 | $ 125,000 |
| Cleveland, Oklahoma | 2 | $ 85,000 | $ 42,500 | $ 78,000 |
| Payne, Oklahoma | 2 | $ 73,000 | $ 36,500 | $ 142,000 |
| Bennington, Vermont | 2 | $ 375,000 | $ 187,500 | $ 140,000 |
| Essex, Vermont | 2 | $ 185,000 | $ 92,500 | $ 122,000 |
| Franklin, Vermont | 2 | $ 246,000 | $ 123,000 | $ 66,000 |
| Clark, Wisconsin | 2 | $ 154,000 | $ 77,000 | $ 75,000 |
| Dunn, Wisconsin | 2 | $ 240,000 | $ 120,000 | $ 170,000 |
| Racine, Wisconsin | 2 | $ 179,000 | $ 89,500 | $ 86,000 |
| Sheboygan, Wisconsin | 2 | $ 85,000 | $ 42,500 | $ 78,000 |
| Washington, Wisconsin | 2 | $ 208,000 | $ 104,000 | $ 108,000 |
| Fairbanks North Star, Alaska | 1 | $ 183,000 | $ 183,000 | $ 195,000 |
| Juneau, Alaska | 1 | $ 180,000 | $ 180,000 | $ 105,000 |
| Lonoke, Arkansas | 1 | $ 75,000 | $ 75,000 | $ 77,000 |
| Pulaski, Arkansas | 1 | $ 92,000 | $ 92,000 | $ 87,000 |
| Adams, Colorado | 1 | $ 108,000 | $ 108,000 | $ 123,000 |
| Arapahoe, Colorado | 1 | $ 128,000 | $ 128,000 | $ 125,000 |
| Mesa, Colorado | 1 | $ 168,000 | $ 168,000 | $ 58,000 |
| Pueblo, Colorado | 1 | $ 148,000 | $ 148,000 | $ 221,000 |
| Teller, Colorado | 1 | $ 46,000 | $ 46,000 | $ 160,000 |
| Hillsborough, Florida | 1 | $ 22,000 | $ 22,000 | $ 66,000 |
| Alexander, Illinois | 1 | $ 40,000 | $ 40,000 | $ 21,000 |
| Jackson, Illinois | 1 | $ 50,000 | $ 50,000 | $ 61,000 |
| Kendall, Illinois | 1 | $ 37,000 | $ 37,000 | $ 73,000 |
| Madison, Illinois | 1 | $ 101,000 | $ 101,000 | $ 118,000 |
| Marion, Illinois | 1 | $ 45,000 | $ 45,000 | $ 45,000 |
| Peoria, Illinois | 1 | $ 45,000 | $ 45,000 | $ 28,000 |
| Tazewell, Illinois | 1 | $ 15,000 | $ 15,000 | $ 71,000 |
| Vermilion, Illinois | 1 | $ 30,000 | $ 30,000 | $ 38,000 |
| Williamson, Illinois | 1 | $ 96,000 | $ 96,000 | $ 102,000 |
| Butler, Kansas | 1 | $ 150,000 | $ 150,000 | $ 88,000 |
| Harvey, Kansas | 1 | $ 80,000 | $ 80,000 | $ 41,000 |
| Linn, Kansas | 1 | $ 51,000 | $ 51,000 | $ 25,000 |
| Marion, Kansas | 1 | $ 20,000 | $ 20,000 | $ 70,000 |
| Marshall, Kansas | 1 | $ 80,000 | $ 80,000 | $ 28,000 |
| Morris, Kansas | 1 | $ 68,000 | $ 68,000 | $ 34,000 |
| Reno, Kansas | 1 | $ 10,000 | $ 10,000 | $ 33,000 |
| Saline, Kansas | 1 | $ 150,000 | $ 150,000 | $ 106,000 |
| Berkshire, Massachusetts | 1 | $ 250,000 | $ 250,000 | $ 180,000 |
| Carson City, Nevada | 1 | $ 76,000 | $ 76,000 | $ 79,000 |
| Douglas, Nevada | 1 | $ 50,000 | $ 50,000 | $ 63,000 |
| Elko, Nevada | 1 | $ 125,000 | $ 125,000 | $ 28,000 |
| Lyon, Nevada | 1 | $ 25,000 | $ 25,000 | $ 239,000 |
| Nye, Nevada | 1 | $ 250,000 | $ 250,000 | $ 474,000 |
| Carroll, New Hampshire | 1 | $ 160,000 | $ 160,000 | $ 103,000 |
| Grafton, New Hampshire | 1 | $ 70,000 | $ 70,000 | $ 84,000 |
| Merrimack, New Hampshire | 1 | $ 60,000 | $ 60,000 | $ 51,000 |
| Strafford, New Hampshire | 1 | $ 420,000 | $ 420,000 | $ 125,000 |
| Comanche, Oklahoma | 1 | $ 50,000 | $ 50,000 | $ 24,000 |
| Delaware, Oklahoma | 1 | $ 60,000 | $ 60,000 | $ 77,000 |
| Kay, Oklahoma | 1 | $ 204,000 | $ 204,000 | $ 75,000 |
| Le Flore, Oklahoma | 1 | $ 125,000 | $ 125,000 | $ 93,000 |
| Muskogee, Oklahoma | 1 | $ 30,000 | $ 30,000 | $ 83,000 |
| Rogers, Oklahoma | 1 | $ 33,000 | $ 33,000 | $ 71,000 |
| Sequoyah, Oklahoma | 1 | $ 75,000 | $ 75,000 | $ 75,000 |
| Texas, Oklahoma | 1 | $ 39,000 | $ 39,000 | $ 43,000 |
| Chittenden, Vermont | 1 | $ 20,000 | $ 20,000 | $ 93,000 |
| Barron, Wisconsin | 1 | $ 95,000 | $ 95,000 | $ 50,000 |
| Douglas, Wisconsin | 1 | $ 160,000 | $ 160,000 | $ 57,000 |
| Eau Claire, Wisconsin | 1 | $ 63,000 | $ 63,000 | $ 20,000 |
| Marathon, Wisconsin | 1 | $ 79,000 | $ 79,000 | $ 21,000 |
| Oneida, Wisconsin | 1 | $ 80,000 | $ 80,000 | $ 19,000 |
| Polk, Wisconsin | 1 | $ 33,000 | $ 33,000 | $ 101,000 |
| Rock, Wisconsin | 1 | $ 49,000 | $ 49,000 | $ 90,000 |
| Waukesha, Wisconsin | 1 | $ 100,000 | $ 100,000 | $ 107,000 |
| Wood, Wisconsin | 1 | $ 25,000 | $ 25,000 | $ 63,000 |
Mortgage Loan Application Detail Totals for Wachovia Financial Services in 2007
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 | 228 | $27,140,000 | $119,000 | $500,000 | $101,000 | $621,000 |
| Home Improvement | 70 | $3,211,000 | $45,000 | $250,000 | $88,000 | $239,000 |
| Home Purchase | 2 | $63,000 | $31,000 | $41,000 | $183,000 | $300,000 |
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 |
|---|---|---|---|---|---|---|
| Not Provided | 177 | $18,031,000 | $101,000 | $500,000 | $99,000 | $621,000 |
| White | 100 | $10,068,000 | $100,000 | $395,000 | $101,000 | $360,000 |
| Hispanic | 10 | $791,000 | $79,000 | $248,000 | $81,000 | $221,000 |
| Black or African American | 5 | $532,000 | $106,000 | $186,000 | $55,000 | $90,000 |
| Asian | 4 | $446,000 | $111,000 | $180,000 | $88,000 | $150,000 |
| American Indian or Alaskan Native | 2 | $175,000 | $87,000 | $125,000 | $212,000 | $360,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $371,000 | $185,000 | $280,000 | $65,000 | $84,000 |
| 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) | 300 | $30,414,000 | $101,000 | $500,000 | $99,000 | $621,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 131 | $13,623,000 | $103,000 | $380,000 | $84,000 | $474,000 |
| Application Approved But Not Accepted | 102 | $10,937,000 | $107,000 | $500,000 | $114,000 | $496,000 |
| Loan Originated | 67 | $5,854,000 | $87,000 | $372,000 | $104,000 | $621,000 |
| 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 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 62 | $7,435,000 | $119,000 | $344,000 | $71,000 | $270,000 |
| Credit History | 36 | $3,750,000 | $104,000 | $380,000 | $86,000 | $474,000 |
| Collateral | 27 | $2,058,000 | $76,000 | $250,000 | $107,000 | $225,000 |
| Other | 6 | $380,000 | $63,000 | $250,000 | $101,000 | $145,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Wachovia Financial Services's 2007 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 Wachovia Financial Services'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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