Wells Fargo Fin'l Sys Virginia Mortgage Lending & HMDA Data, 2006

In 2006, Wells Fargo Fin'l Sys Virginia of Des Moines, IA reported 5,707 mortgage applications totaling $875.1 million, up 24% from 2005. The average application was for $153,341, and applicants reported an average income of $73,989. 18% of its applications resulted in an originated loan and 40% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (1,836), Virginia Beach-Norfolk-Newport News, VA-NC (1,442) and Richmond, VA (1,029) (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 5,707
Total Mortgage Loan Application Amount $875,119,000
Average Mortgage Loan Application Amount $153,341
Highest Mortgage Loan Application Amount $1,100,000
Average Applicant Income $73,989
Highest Applicant Income $1,677,000

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records Wells Fargo Fin'l Sys Virginia filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2006

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loans Applications Average Mortgage Loan Application Amount Average Applicant Income
Fairfax, Virginia 428 $ 100,732,000 $ 235,355 $ 110,000
Prince William, Virginia 428 $ 92,653,000 $ 216,478 $ 98,000
Virginia Beach, Virginia 352 $ 46,700,000 $ 132,670 $ 70,000
Chesterfield, Virginia 302 $ 38,659,000 $ 128,009 $ 71,000
Spotsylvania, Virginia 287 $ 60,431,000 $ 210,560 $ 82,000
Stafford, Virginia 273 $ 68,446,000 $ 250,717 $ 103,000
Henrico, Virginia 235 $ 30,985,000 $ 131,851 $ 63,000
Chesapeake, Virginia 219 $ 30,116,000 $ 137,515 $ 66,000
Norfolk, Virginia 213 $ 26,069,000 $ 122,389 $ 61,000
Hampton, Virginia 164 $ 19,109,000 $ 116,518 $ 57,000
Newport News, Virginia 156 $ 17,367,000 $ 111,326 $ 55,000
Loudoun, Virginia 153 $ 32,982,000 $ 215,568 $ 115,000
Richmond City, Virginia 121 $ 10,342,000 $ 85,471 $ 49,000
Portsmouth, Virginia 120 $ 15,257,000 $ 127,141 $ 65,000
Roanoke City, Virginia 101 $ 8,116,000 $ 80,356 $ 45,000
Suffolk, Virginia 90 $ 13,970,000 $ 155,222 $ 68,000
Roanoke, Virginia 78 $ 8,723,000 $ 111,833 $ 63,000
Alexandria, Virginia 66 $ 13,691,000 $ 207,439 $ 94,000
Albemarle, Virginia 64 $ 11,484,000 $ 179,437 $ 74,000
Caroline, Virginia 61 $ 8,367,000 $ 137,163 $ 66,000
Hanover, Virginia 61 $ 10,120,000 $ 165,901 $ 76,000
Fauquier, Virginia 60 $ 11,122,000 $ 185,366 $ 112,000
Fluvanna, Virginia 60 $ 8,257,000 $ 137,616 $ 62,000
Louisa, Virginia 58 $ 7,199,000 $ 124,120 $ 55,000
Orange, Virginia 56 $ 8,118,000 $ 144,964 $ 69,000
Arlington, Virginia 47 $ 13,655,000 $ 290,531 $ 108,000
Augusta, Virginia 47 $ 5,491,000 $ 116,829 $ 54,000
King George, Virginia 43 $ 7,907,000 $ 183,883 $ 89,000
Franklin, Virginia 41 $ 4,055,000 $ 98,902 $ 54,000
Bedford, Virginia 39 $ 3,328,000 $ 85,333 $ 54,000
Culpeper, Virginia 39 $ 5,618,000 $ 144,051 $ 76,000
Frederick, Virginia 39 $ 6,359,000 $ 163,051 $ 79,000
Montgomery, Virginia 38 $ 4,466,000 $ 117,526 $ 78,000
Rockingham, Virginia 34 $ 4,239,000 $ 124,676 $ 48,000
York, Virginia 32 $ 4,758,000 $ 148,687 $ 65,000
Warren, Virginia 31 $ 4,508,000 $ 145,419 $ 71,000
James City, Virginia 29 $ 3,976,000 $ 137,103 $ 79,000
Petersburg, Virginia 29 $ 2,577,000 $ 88,862 $ 43,000
Page, Virginia 28 $ 3,003,000 $ 107,250 $ 54,000
Botetourt, Virginia 27 $ 3,818,000 $ 141,407 $ 71,000
Lynchburg, Virginia 27 $ 1,870,000 $ 69,259 $ 59,000
Pittsylvania, Virginia 27 $ 1,202,000 $ 44,518 $ 41,000
Waynesboro, Virginia 27 $ 2,942,000 $ 108,962 $ 54,000
Campbell, Virginia 26 $ 1,858,000 $ 71,461 $ 50,000
Powhatan, Virginia 26 $ 3,420,000 $ 131,538 $ 54,000
Greene, Virginia 25 $ 3,039,000 $ 121,560 $ 59,000
Henry, Virginia 25 $ 1,708,000 $ 68,320 $ 36,000
Isle of Wight, Virginia 25 $ 3,305,000 $ 132,200 $ 54,000
Charlottesville, Virginia 21 $ 2,869,000 $ 136,619 $ 55,000
Gloucester, Virginia 21 $ 2,730,000 $ 130,000 $ 66,000
Prince George, Virginia 21 $ 2,617,000 $ 124,619 $ 68,000
Shenandoah, Virginia 20 $ 1,964,000 $ 98,200 $ 73,000
Halifax, Virginia 19 $ 1,097,000 $ 57,736 $ 42,000
Hopewell, Virginia 19 $ 1,365,000 $ 71,842 $ 56,000
Dinwiddie, Virginia 18 $ 1,139,000 $ 63,277 $ 63,000
Manassas, Virginia 18 $ 3,529,000 $ 196,055 $ 95,000
Staunton, Virginia 17 $ 1,816,000 $ 106,823 $ 51,000
Washington, Virginia 17 $ 1,769,000 $ 104,058 $ 59,000
Pulaski, Virginia 16 $ 1,251,000 $ 78,187 $ 50,000
Wythe, Virginia 16 $ 1,026,000 $ 64,125 $ 47,000
Carroll, Virginia 15 $ 983,000 $ 65,533 $ 47,000
Tazewell, Virginia 15 $ 1,171,000 $ 78,066 $ 49,000
Wise, Virginia 15 $ 966,000 $ 64,400 $ 50,000
Amelia, Virginia 14 $ 1,425,000 $ 101,785 $ 51,000
Danville, Virginia 14 $ 1,005,000 $ 71,785 $ 47,000
Salem, Virginia 14 $ 1,413,000 $ 100,928 $ 51,000
Cumberland, Virginia 13 $ 537,000 $ 41,307 $ 62,000
Westmoreland, Virginia 13 $ 1,582,000 $ 121,692 $ 57,000
Winchester, Virginia 13 $ 2,023,000 $ 155,615 $ 63,000
Amherst, Virginia 12 $ 889,000 $ 74,083 $ 50,000
Floyd, Virginia 12 $ 973,000 $ 81,083 $ 46,000
Fredericksburg, Virginia 12 $ 2,751,000 $ 229,250 $ 67,000
Giles, Virginia 12 $ 826,000 $ 68,833 $ 37,000
Accomack, Virginia 11 $ 699,000 $ 63,545 $ 45,000
Grayson, Virginia 11 $ 815,000 $ 74,090 $ 37,000
New Kent, Virginia 11 $ 1,472,000 $ 133,818 $ 55,000
Goochland, Virginia 10 $ 1,284,000 $ 128,400 $ 59,000
Nelson, Virginia 10 $ 1,254,000 $ 125,400 $ 61,000
Southampton, Virginia 10 $ 1,017,000 $ 101,700 $ 47,000
Rockbridge, Virginia 9 $ 687,000 $ 76,333 $ 40,000
Clarke, Virginia 8 $ 2,015,000 $ 251,875 $ 127,000
King William, Virginia 8 $ 613,000 $ 76,625 $ 59,000
Madison, Virginia 8 $ 1,141,000 $ 142,625 $ 60,000
Mathews, Virginia 8 $ 1,364,000 $ 170,500 $ 71,000
Nottoway, Virginia 8 $ 566,000 $ 70,750 $ 50,000
Sussex, Virginia 8 $ 936,000 $ 117,000 $ 55,000
Alleghany, Virginia 7 $ 283,000 $ 40,428 $ 40,000
Bristol, Virginia 7 $ 401,000 $ 57,285 $ 45,000
Colonial Heights, Virginia 7 $ 607,000 $ 86,714 $ 71,000
Manassas Park, Virginia 7 $ 1,254,000 $ 179,142 $ 69,000
Mecklenburg, Virginia 7 $ 274,000 $ 39,142 $ 36,000
Patrick, Virginia 7 $ 509,000 $ 72,714 $ 64,000
Brunswick, Virginia 6 $ 354,000 $ 59,000 $ 69,000
Fairfax City, Virginia 6 $ 1,217,000 $ 202,833 $ 108,000
Harrisonburg, Virginia 6 $ 553,000 $ 92,166 $ 53,000
Prince Edward, Virginia 6 $ 451,000 $ 75,166 $ 62,000
Richmond, Virginia 6 $ 569,000 $ 94,833 $ 56,000
Surry, Virginia 6 $ 779,000 $ 129,833 $ 52,000
Charles City, Virginia 5 $ 535,000 $ 107,000 $ 40,000
Essex, Virginia 5 $ 745,000 $ 149,000 $ 46,000
Falls Church, Virginia 5 $ 1,533,000 $ 306,600 $ 89,000
Poquoson, Virginia 5 $ 545,000 $ 109,000 $ 58,000
Smyth, Virginia 5 $ 292,000 $ 58,400 $ 39,000
Buena Vista, Virginia 4 $ 250,000 $ 62,500 $ 34,000
Lancaster, Virginia 4 $ 301,000 $ 75,250 $ 37,000
Martinsville, Virginia 4 $ 155,000 $ 38,750 $ 52,000
Middlesex, Virginia 4 $ 255,000 $ 63,750 $ 31,000
Northampton, Virginia 4 $ 297,000 $ 74,250 $ 47,000
Pima, Arizona 3 $ 328,000 $ 109,333 $ 55,000
District of Columbia, District Of Columbia 3 $ 725,000 $ 241,666 $ 126,000
Prince George's, Maryland 3 $ 795,000 $ 265,000 $ 71,000
Appomattox, Virginia 3 $ 187,000 $ 62,333 $ 37,000
Bedford City, Virginia 3 $ 218,000 $ 72,666 $ 54,000
Bland, Virginia 3 $ 210,000 $ 70,000 $ 43,000
Galax, Virginia 3 $ 407,000 $ 135,666 $ 81,000
Lee, Virginia 3 $ 475,000 $ 158,333 $ 58,000
Rappahannock, Virginia 3 $ 685,000 $ 228,333 $ 62,000
Russell, Virginia 3 $ 227,000 $ 75,666 $ 40,000
Mississippi, Arkansas 2 $ 50,000 $ 25,000 $ 62,000
Marion, Indiana 2 $ 40,000 $ 20,000 $ 38,000
Montgomery, Maryland 2 $ 550,000 $ 275,000 $ 160,000
Cumberland, North Carolina 2 $ 50,000 $ 25,000 $ 83,000
Dare, North Carolina 2 $ 413,000 $ 206,500 $ 115,000
Mecklenburg, North Carolina 2 $ 310,000 $ 155,000 $ 81,000
Buckingham, Virginia 2 $ 133,000 $ 66,500 $ 38,000
Charlotte, Virginia 2 $ 168,000 $ 84,000 $ 77,000
Covington, Virginia 2 $ 140,000 $ 70,000 $ 37,000
Craig, Virginia 2 $ 265,000 $ 132,500 $ 42,000
Emporia, Virginia 2 $ 154,000 $ 77,000 $ 50,000
King and Queen, Virginia 2 $ 180,000 $ 90,000 $ 41,000
Radford, Virginia 2 $ 152,000 $ 76,000 $ 69,000
Scott, Virginia 2 $ 83,000 $ 41,500 $ 63,000
Williamsburg, Virginia 2 $ 565,000 $ 282,500 $ 92,000
San Bernardino, California 1 $ 90,000 $ 90,000 $ 49,000
El Paso, Colorado 1 $ 25,000 $ 25,000 $ 61,000
New Castle, Delaware 1 $ 100,000 $ 100,000 $ 50,000
Osceola, Florida 1 $ 85,000 $ 85,000 $ 160,000
Pinellas, Florida 1 $ 100,000 $ 100,000 $ 255,000
Cobb, Georgia 1 $ 185,000 $ 185,000 $ 24,000
DeKalb, Georgia 1 $ 138,000 $ 138,000 $ 53,000
Forsyth, Georgia 1 $ 25,000 $ 25,000 $ 68,000
Henry, Georgia 1 $ 226,000 $ 226,000 $ 91,000
Honolulu, Hawaii 1 $ 178,000 $ 178,000 $ 72,000
Will, Illinois 1 $ 240,000 $ 240,000 $ 112,000
Madison, Kentucky 1 $ 100,000 $ 100,000 $ 167,000
Baltimore, Maryland 1 $ 43,000 $ 43,000 $ 131,000
Baltimore City, Maryland 1 $ 50,000 $ 50,000 $ 79,000
Caroline, Maryland 1 $ 150,000 $ 150,000 $ 111,000
Charles, Maryland 1 $ 250,000 $ 250,000 $ 67,000
Dorchester, Maryland 1 $ 135,000 $ 135,000 $ 136,000
Garrett, Maryland 1 $ 145,000 $ 145,000 $ 234,000
Jackson, Missouri 1 $ 15,000 $ 15,000 $ 82,000
Rockingham, New Hampshire 1 $ 168,000 $ 168,000 $ 244,000
Burlington, New Jersey 1 $ 45,000 $ 45,000 $ 72,000
Camden, New Jersey 1 $ 30,000 $ 30,000 $ 38,000
Broome, New York 1 $ 50,000 $ 50,000 $ 45,000
Onondaga, New York 1 $ 10,000 $ 10,000 $ 53,000
Martin, North Carolina 1 $ 168,000 $ 168,000 $ 44,000
Nash, North Carolina 1 $ 25,000 $ 25,000 $ 42,000
Vance, North Carolina 1 $ 63,000 $ 63,000 $ 58,000
Cuyahoga, Ohio 1 $ 45,000 $ 45,000 $ 75,000
Comanche, Oklahoma 1 $ 61,000 $ 61,000 $ 80,000
Bedford, Pennsylvania 1 $ 415,000 $ 415,000 $ 48,000
McKean, Pennsylvania 1 $ 37,000 $ 37,000 $ 114,000
Schuylkill, Pennsylvania 1 $ 80,000 $ 80,000 $ 80,000
Beaufort, South Carolina 1 $ 184,000 $ 184,000 $ 105,000
Clarendon, South Carolina 1 $ 10,000 $ 10,000 $ 74,000
Richland, South Carolina 1 $ 155,000 $ 155,000 $ 98,000
Sumter, South Carolina 1 $ 24,000 $ 24,000 $ 108,000
Davidson, Tennessee 1 $ 74,000 $ 74,000 $ 103,000
Shelby, Tennessee 1 $ 17,000 $ 17,000 $ 44,000
Dallas, Texas 1 $ 15,000 $ 15,000 $ 78,000
El Paso, Texas 1 $ 60,000 $ 60,000 $ 85,000
Tom Green, Texas 1 $ 10,000 $ 10,000 $ 56,000
Buchanan, Virginia 1 $ 12,000 $ 12,000 $ 53,000
Franklin City, Virginia 1 $ 219,000 $ 219,000 $ 53,000
Greensville, Virginia 1 $ 10,000 $ 10,000 $ 21,000
Lexington, Virginia 1 $ 240,000 $ 240,000 $ 68,000
Northumberland, Virginia 1 $ 1,000,000 $ 1,000,000 $ 223,000
Norton, Virginia 1 $ 25,000 $ 25,000 $ 57,000
Gilmer, West Virginia 1 $ 52,000 $ 52,000 $ 56,000
Hampshire, West Virginia 1 $ 120,000 $ 120,000 $ 105,000
Logan, West Virginia 1 $ 50,000 $ 50,000 $ 51,000

Mortgage Loan Application Detail Totals for Wells Fargo Fin'l Sys Virginia in 2006

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 3,273 $595,612,000 $181,000 $1,100,000 $74,000 $900,000
Home Improvement 2,403 $275,738,000 $114,000 $910,000 $74,000 $1,677,000
Home Purchase 31 $3,769,000 $121,000 $415,000 $72,000 $150,000

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 3,222 $499,026,000 $154,000 $1,000,000 $77,000 $1,677,000
Black or African American 1,757 $255,980,000 $145,000 $900,000 $66,000 $612,000
Hispanic 253 $43,563,000 $172,000 $720,000 $76,000 $350,000
Not Provided 228 $29,562,000 $129,000 $699,000 $83,000 $758,000
Asian 145 $32,143,000 $221,000 $1,100,000 $89,000 $360,000
American Indian or Alaskan Native 87 $12,300,000 $141,000 $732,000 $66,000 $233,000
Native Hawaiian or Other Pacific Islander 15 $2,545,000 $169,000 $470,000 $82,000 $169,000
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) 5,707 $875,119,000 $153,000 $1,100,000 $74,000 $1,677,000
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 2,263 $312,280,000 $137,000 $1,100,000 $68,000 $1,677,000
Application Withdrawn By Applicant 2,063 $327,422,000 $158,000 $1,100,000 $82,000 $900,000
Loan Originated 1,038 $176,352,000 $169,000 $732,000 $72,000 $291,000
File Closed For Incompleteness 320 $54,652,000 $170,000 $800,000 $79,000 $651,000
Application Approved But Not Accepted 23 $4,413,000 $191,000 $380,000 $66,000 $140,000
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 2006 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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