Wells Fargo Fin'l Sys Virginia Mortgage Lending & HMDA Data, 2008

In 2008, Wells Fargo Fin'l Sys Virginia of Des Moines, IA reported 4,067 mortgage applications totaling $743.5 million, down 35% from 2007. The average application was for $182,807, and applicants reported an average income of $81,591. 11% of its applications resulted in an originated loan and 49% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (1,150), Washington-Arlington-Alexandria, DC-VA-MD-WV (1,107) and Richmond, VA (887) (applications in parentheses).

Mortgage Company & Address Wells Fargo Fin'l Sys Virginia
800 Walnut St, 6th Floor, Mac F4031-061
Des Moines, IA 50309
Tel #: available with data download
Federal Regulator * available with data download
Years 2008  2007  2006  2005  2004  
Total Number of Mortgage Applications 4,067
Total Mortgage Loan Application Amount $743,478,000
Average Mortgage Loan Application Amount $182,807
Highest Mortgage Loan Application Amount $1,350,000
Average Applicant Income $81,591
Highest Applicant Income $1,255,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Wells Fargo Fin'l Sys Virginia filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Totals for Wells Fargo Fin'l Sys Virginia by County in 2008

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loans Applications Average Mortgage Loan Application Amount Average Applicant Income
Fairfax, Virginia 339 $ 91,189,000 $ 268,994 $ 125,000
Virginia Beach, Virginia 315 $ 53,814,000 $ 170,838 $ 79,000
Prince William, Virginia 249 $ 66,248,000 $ 266,056 $ 100,000
Chesterfield, Virginia 243 $ 39,996,000 $ 164,592 $ 81,000
Henrico, Virginia 191 $ 28,329,000 $ 148,319 $ 66,000
Chesapeake, Virginia 178 $ 32,576,000 $ 183,011 $ 76,000
Richmond City, Virginia 130 $ 16,093,000 $ 123,792 $ 58,000
Newport News, Virginia 122 $ 18,217,000 $ 149,319 $ 69,000
Hampton, Virginia 117 $ 17,784,000 $ 152,000 $ 62,000
Loudoun, Virginia 114 $ 34,456,000 $ 302,245 $ 134,000
Norfolk, Virginia 110 $ 16,287,000 $ 148,063 $ 64,000
Spotsylvania, Virginia 101 $ 23,406,000 $ 231,742 $ 97,000
Portsmouth, Virginia 100 $ 14,423,000 $ 144,230 $ 65,000
Stafford, Virginia 97 $ 22,990,000 $ 237,010 $ 102,000
Suffolk, Virginia 72 $ 13,902,000 $ 193,083 $ 81,000
Hanover, Virginia 54 $ 11,186,000 $ 207,148 $ 88,000
Roanoke City, Virginia 52 $ 5,156,000 $ 99,153 $ 84,000
Arlington, Virginia 50 $ 16,388,000 $ 327,760 $ 116,000
Roanoke, Virginia 42 $ 5,767,000 $ 137,309 $ 67,000
Alexandria, Virginia 41 $ 9,969,000 $ 243,146 $ 99,000
Fauquier, Virginia 37 $ 10,591,000 $ 286,243 $ 95,000
Petersburg, Virginia 37 $ 2,791,000 $ 75,432 $ 55,000
James City, Virginia 35 $ 7,792,000 $ 222,628 $ 80,000
York, Virginia 35 $ 5,380,000 $ 153,714 $ 86,000
Caroline, Virginia 34 $ 5,769,000 $ 169,676 $ 68,000
Albemarle, Virginia 33 $ 8,931,000 $ 270,636 $ 102,000
Bedford, Virginia 31 $ 3,708,000 $ 119,612 $ 54,000
Frederick, Virginia 30 $ 5,307,000 $ 176,900 $ 75,000
Pittsylvania, Virginia 29 $ 2,253,000 $ 77,689 $ 53,000
Dinwiddie, Virginia 28 $ 3,189,000 $ 113,892 $ 56,000
Franklin, Virginia 28 $ 3,555,000 $ 126,964 $ 58,000
Isle of Wight, Virginia 28 $ 6,679,000 $ 238,535 $ 83,000
Louisa, Virginia 28 $ 3,329,000 $ 118,892 $ 61,000
Lynchburg, Virginia 27 $ 3,331,000 $ 123,370 $ 67,000
Augusta, Virginia 25 $ 2,907,000 $ 116,280 $ 62,000
Orange, Virginia 24 $ 5,238,000 $ 218,250 $ 76,000
Culpeper, Virginia 23 $ 5,468,000 $ 237,739 $ 64,000
Gloucester, Virginia 23 $ 3,759,000 $ 163,434 $ 62,000
Warren, Virginia 23 $ 4,414,000 $ 191,913 $ 94,000
Powhatan, Virginia 22 $ 4,283,000 $ 194,681 $ 67,000
Henry, Virginia 21 $ 1,617,000 $ 77,000 $ 57,000
Hopewell, Virginia 20 $ 2,475,000 $ 123,750 $ 47,000
Montgomery, Virginia 20 $ 2,871,000 $ 143,550 $ 71,000
Campbell, Virginia 19 $ 2,172,000 $ 114,315 $ 64,000
Manassas, Virginia 18 $ 4,232,000 $ 235,111 $ 86,000
Prince George, Virginia 18 $ 2,402,000 $ 133,444 $ 75,000
Rockingham, Virginia 17 $ 2,228,000 $ 131,058 $ 82,000
Staunton, Virginia 17 $ 2,138,000 $ 125,764 $ 58,000
Salem, Virginia 16 $ 1,959,000 $ 122,437 $ 64,000
New Kent, Virginia 15 $ 3,296,000 $ 219,733 $ 76,000
Botetourt, Virginia 14 $ 1,988,000 $ 142,000 $ 58,000
Halifax, Virginia 14 $ 1,181,000 $ 84,357 $ 46,000
King George, Virginia 14 $ 2,459,000 $ 175,642 $ 71,000
Washington, Virginia 14 $ 1,484,000 $ 106,000 $ 52,000
Fairfax City, Virginia 13 $ 2,176,000 $ 167,384 $ 77,000
Page, Virginia 13 $ 1,689,000 $ 129,923 $ 55,000
Pulaski, Virginia 13 $ 1,281,000 $ 98,538 $ 66,000
Accomack, Virginia 12 $ 1,262,000 $ 105,166 $ 55,000
Colonial Heights, Virginia 12 $ 1,745,000 $ 145,416 $ 58,000
King William, Virginia 12 $ 2,339,000 $ 194,916 $ 69,000
Nottoway, Virginia 12 $ 1,273,000 $ 106,083 $ 59,000
Tazewell, Virginia 12 $ 853,000 $ 71,083 $ 60,000
Waynesboro, Virginia 12 $ 1,636,000 $ 136,333 $ 71,000
Fluvanna, Virginia 11 $ 1,696,000 $ 154,181 $ 75,000
Amherst, Virginia 10 $ 1,032,000 $ 103,200 $ 62,000
Carroll, Virginia 10 $ 722,000 $ 72,200 $ 34,000
Cumberland, Virginia 10 $ 1,564,000 $ 156,400 $ 65,000
Goochland, Virginia 10 $ 2,190,000 $ 219,000 $ 90,000
Middlesex, Virginia 10 $ 1,305,000 $ 130,500 $ 47,000
Rockbridge, Virginia 10 $ 985,000 $ 98,500 $ 59,000
Westmoreland, Virginia 10 $ 1,721,000 $ 172,100 $ 65,000
Amelia, Virginia 9 $ 1,550,000 $ 172,222 $ 64,000
Scott, Virginia 9 $ 609,000 $ 67,666 $ 38,000
Surry, Virginia 9 $ 1,227,000 $ 136,333 $ 66,000
Charlottesville, Virginia 8 $ 1,288,000 $ 161,000 $ 86,000
Danville, Virginia 8 $ 969,000 $ 121,125 $ 51,000
Greene, Virginia 8 $ 974,000 $ 121,750 $ 51,000
Manassas Park, Virginia 8 $ 2,417,000 $ 302,125 $ 69,000
Mecklenburg, Virginia 8 $ 919,000 $ 114,875 $ 43,000
Nelson, Virginia 8 $ 1,605,000 $ 200,625 $ 60,000
Smyth, Virginia 8 $ 612,000 $ 76,500 $ 53,000
Winchester, Virginia 8 $ 616,000 $ 77,000 $ 68,000
Wise, Virginia 8 $ 644,000 $ 80,500 $ 50,000
Fredericksburg, Virginia 7 $ 1,150,000 $ 164,285 $ 84,000
Lancaster, Virginia 7 $ 1,207,000 $ 172,428 $ 55,000
Madison, Virginia 7 $ 1,678,000 $ 239,714 $ 71,000
Shenandoah, Virginia 7 $ 864,000 $ 123,428 $ 69,000
Southampton, Virginia 7 $ 826,000 $ 118,000 $ 62,000
Charles City, Virginia 6 $ 875,000 $ 145,833 $ 132,000
Martinsville, Virginia 6 $ 487,000 $ 81,166 $ 23,000
Patrick, Virginia 6 $ 625,000 $ 104,166 $ 55,000
Sussex, Virginia 6 $ 1,196,000 $ 199,333 $ 63,000
Alleghany, Virginia 5 $ 431,000 $ 86,200 $ 55,000
Giles, Virginia 5 $ 355,000 $ 71,000 $ 64,000
Poquoson, Virginia 5 $ 1,850,000 $ 370,000 $ 104,000
Horry, South Carolina 4 $ 237,000 $ 59,250 $ 162,000
Appomattox, Virginia 4 $ 220,000 $ 55,000 $ 88,000
Charlotte, Virginia 4 $ 142,000 $ 35,500 $ 27,000
Clarke, Virginia 4 $ 1,206,000 $ 301,500 $ 93,000
Covington, Virginia 4 $ 243,000 $ 60,750 $ 58,000
Emporia, Virginia 4 $ 418,000 $ 104,500 $ 99,000
Essex, Virginia 4 $ 920,000 $ 230,000 $ 53,000
Northumberland, Virginia 4 $ 641,000 $ 160,250 $ 62,000
Richmond, Virginia 4 $ 334,000 $ 83,500 $ 40,000
Wythe, Virginia 4 $ 377,000 $ 94,250 $ 49,000
El Paso, Colorado 3 $ 196,000 $ 65,333 $ 181,000
Honolulu, Hawaii 3 $ 940,000 $ 313,333 $ 101,000
Prince George's, Maryland 3 $ 552,000 $ 184,000 $ 125,000
Bedford City, Virginia 3 $ 160,000 $ 53,333 $ 56,000
Brunswick, Virginia 3 $ 324,000 $ 108,000 $ 76,000
Falls Church, Virginia 3 $ 1,154,000 $ 384,666 $ 118,000
Franklin City, Virginia 3 $ 356,000 $ 118,666 $ 70,000
Lee, Virginia 3 $ 213,000 $ 71,000 $ 59,000
Lunenburg, Virginia 3 $ 390,000 $ 130,000 $ 67,000
Prince Edward, Virginia 3 $ 359,000 $ 119,666 $ 34,000
Stevens, Washington 3 $ 650,000 $ 216,666 $ 253,000
Jefferson, Colorado 2 $ 60,000 $ 30,000 $ 67,000
Bay, Florida 2 $ 189,000 $ 94,500 $ 82,000
Orange, Florida 2 $ 417,000 $ 208,500 $ 82,000
Columbia, Georgia 2 $ 147,000 $ 73,500 $ 116,000
Anne Arundel, Maryland 2 $ 875,000 $ 437,500 $ 144,000
Clark, Nevada 2 $ 859,000 $ 429,500 $ 193,000
Davidson, Tennessee 2 $ 124,000 $ 62,000 $ 124,000
Wichita, Texas 2 $ 60,000 $ 30,000 $ 57,000
Bland, Virginia 2 $ 185,000 $ 92,500 $ 77,000
Bristol, Virginia 2 $ 124,000 $ 62,000 $ 43,000
Buchanan, Virginia 2 $ 217,000 $ 108,500 $ 62,000
Buckingham, Virginia 2 $ 458,000 $ 229,000 $ 84,000
Craig, Virginia 2 $ 40,000 $ 20,000 $ 40,000
Dickenson, Virginia 2 $ 53,000 $ 26,500 $ 40,000
Floyd, Virginia 2 $ 312,000 $ 156,000 $ 60,000
Grayson, Virginia 2 $ 196,000 $ 98,000 $ 29,000
Harrisonburg, Virginia 2 $ 700,000 $ 350,000 $ 72,000
King and Queen, Virginia 2 $ 249,000 $ 124,500 $ 65,000
Norton, Virginia 2 $ 40,000 $ 20,000 $ 39,000
Rappahannock, Virginia 2 $ 635,000 $ 317,500 $ 74,000
Russell, Virginia 2 $ 60,000 $ 30,000 $ 45,000
Anchorage, Alaska 1 $ 107,000 $ 107,000 $ 93,000
Matanuska-Susitna, Alaska 1 $ 25,000 $ 25,000 $ 49,000
Cochise, Arizona 1 $ 123,000 $ 123,000 $ 84,000
Marin, California 1 $ 150,000 $ 150,000 $ 181,000
San Diego, California 1 $ 560,000 $ 560,000 $ 95,000
Weld, Colorado 1 $ 200,000 $ 200,000 $ 300,000
New London, Connecticut 1 $ 159,000 $ 159,000 $ 106,000
Escambia, Florida 1 $ 65,000 $ 65,000 $ 170,000
Hernando, Florida 1 $ 188,000 $ 188,000 $ 82,000
Lee, Florida 1 $ 160,000 $ 160,000 $ 16,000
Martin, Florida 1 $ 600,000 $ 600,000 $ 270,000
Pinellas, Florida 1 $ 20,000 $ 20,000 $ 150,000
Polk, Florida 1 $ 40,000 $ 40,000 $ 225,000
DeKalb, Georgia 1 $ 172,000 $ 172,000 $ 108,000
Gwinnett, Georgia 1 $ 386,000 $ 386,000 $ 114,000
Liberty, Georgia 1 $ 23,000 $ 23,000 $ 272,000
Richmond, Georgia 1 $ 65,000 $ 65,000 $ 150,000
Latah, Idaho 1 $ 220,000 $ 220,000 $ 75,000
Union, Kentucky 1 $ 25,000 $ 25,000 $ 69,000
East Baton Rouge, Louisiana 1 $ 40,000 $ 40,000 $ 170,000
Kennebec, Maine 1 $ 560,000 $ 560,000 $ 120,000
Baltimore City, Maryland 1 $ 400,000 $ 400,000 $ 157,000
Montgomery, Maryland 1 $ 347,000 $ 347,000 $ 120,000
Middlesex, Massachusetts 1 $ 100,000 $ 100,000 $ 170,000
Kent, Michigan 1 $ 265,000 $ 265,000 $ 86,000
Clay, Missouri 1 $ 100,000 $ 100,000 $ 124,000
Pulaski, Missouri 1 $ 100,000 $ 100,000 $ 67,000
Elko, Nevada 1 $ 26,000 $ 26,000 $ 113,000
Kings, New York 1 $ 361,000 $ 361,000 $ 132,000
Cumberland, North Carolina 1 $ 110,000 $ 110,000 $ 118,000
Dare, North Carolina 1 $ 10,000 $ 10,000 $ 70,000
Davie, North Carolina 1 $ 76,000 $ 76,000 $ 102,000
Mecklenburg, North Carolina 1 $ 223,000 $ 223,000 $ 97,000
Wake, North Carolina 1 $ 65,000 $ 65,000 $ 176,000
Trumbull, Ohio 1 $ 100,000 $ 100,000 $ 74,000
Wayne, Ohio 1 $ 20,000 $ 20,000 $ 269,000
Montgomery, Pennsylvania 1 $ 247,000 $ 247,000 $ 138,000
Charleston, South Carolina 1 $ 17,000 $ 17,000 $ 13,000
Richland, South Carolina 1 $ 50,000 $ 50,000 $ 45,000
Montgomery, Tennessee 1 $ 40,000 $ 40,000 $ 103,000
Sullivan, Tennessee 1 $ 50,000 $ 50,000 $ 73,000
Collin, Texas 1 $ 10,000 $ 10,000 $ 67,000
Nueces, Texas 1 $ 50,000 $ 50,000 $ 152,000
San Patricio, Texas 1 $ 40,000 $ 40,000 $ 126,000
Bath, Virginia 1 $ 47,000 $ 47,000 $ 84,000
Galax, Virginia 1 $ 54,000 $ 54,000 $ 45,000
Greensville, Virginia 1 $ 80,000 $ 80,000 $ 36,000
Lexington, Virginia 1 $ 156,000 $ 156,000 $ 66,000
Mathews, Virginia 1 $ 190,000 $ 190,000 $ 103,000
Northampton, Virginia 1 $ 100,000 $ 100,000 $ 35,000
Pierce, Washington 1 $ 25,000 $ 25,000 $ 58,000
Hardy, West Virginia 1 $ 158,000 $ 158,000 $ 66,000
Mercer, West Virginia 1 $ 146,000 $ 146,000 $ 56,000

Mortgage Loan Application Detail Totals for Wells Fargo Fin'l Sys Virginia 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 2,867 $605,475,000 $211,000 $1,350,000 $82,000 $1,255,000
Home Improvement 1,180 $135,148,000 $114,000 $936,000 $80,000 $840,000
Home Purchase 20 $2,855,000 $142,000 $400,000 $117,000 $272,000

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
White 2,142 $389,439,000 $181,000 $1,350,000 $86,000 $1,255,000
Black or African American 1,273 $218,694,000 $171,000 $890,000 $70,000 $780,000
Not Provided 282 $52,875,000 $187,000 $900,000 $81,000 $892,000
Hispanic 176 $40,704,000 $231,000 $950,000 $86,000 $420,000
Asian 128 $31,726,000 $247,000 $1,000,000 $121,000 $1,062,000
American Indian or Alaskan Native 54 $7,487,000 $138,000 $600,000 $78,000 $330,000
Native Hawaiian or Other Pacific Islander 12 $2,553,000 $212,000 $500,000 $96,000 $256,000
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) 4,067 $743,478,000 $182,000 $1,350,000 $82,000 $1,255,000
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 2,008 $385,982,000 $192,000 $1,350,000 $78,000 $892,000
Application Withdrawn By Applicant 1,119 $193,336,000 $172,000 $950,000 $87,000 $541,000
Loan Originated 467 $87,035,000 $186,000 $704,000 $76,000 $256,000
File Closed For Incompleteness 460 $75,563,000 $164,000 $768,000 $93,000 $1,255,000
Application Approved But Not Accepted 13 $1,562,000 $120,000 $279,000 $71,000 $156,000
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 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Credit History 0 $0 $0 $0 $0 $0
Debt-To-Income Ratio 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 Wells Fargo Fin'l Sys Virginia'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 Wells Fargo Fin'l Sys Virginia'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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