Wells Fargo Funding, Inc Mortgage Lending & HMDA Data, 2011
In 2011, Wells Fargo Funding, Inc of Winston-Salem, NC reported 222,943 mortgage applications totaling $45.5 billion. The average application was for $204,071, and applicants reported an average income of $92,301. 3% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (6,702), Phoenix-Mesa-Glendale, AZ (6,555) and Houston-Sugar Land-Baytown, TX (6,360) (applications in parentheses).
| Mortgage Company & Address | Wells Fargo Funding, Inc 100 N Main Streeet Mac D4001-063 Winston-Salem, NC 27150 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 |
| Total Number of Mortgage Applications | 222,943 |
| Total Mortgage Loan Application Amount | $45,496,351,000 |
| Average Mortgage Loan Application Amount | $204,071 |
| Highest Mortgage Loan Application Amount | $5,670,000 |
| Average Applicant Income | $92,301 |
| Highest Applicant Income | $9,999,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Wells Fargo Funding, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Wells Fargo Funding, Inc in 2011
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 | 123,617 | $23,632,541,000 | $191,000 | $2,000,000 | $87,000 | $9,999,000 |
| Refinancing | 96,017 | $21,238,838,000 | $221,000 | $5,670,000 | $99,000 | $9,999,000 |
| Home Improvement | 3,309 | $624,972,000 | $188,000 | $835,000 | $96,000 | $1,934,000 |
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 | 165,086 | $33,246,813,000 | $201,000 | $2,850,000 | $94,000 | $8,066,000 |
| Hispanic | 19,259 | $3,395,751,000 | $176,000 | $2,000,000 | $65,000 | $1,734,000 |
| Not Provided | 14,029 | $3,313,172,000 | $236,000 | $5,670,000 | $109,000 | $9,999,000 |
| Black or African American | 12,024 | $2,241,287,000 | $186,000 | $1,520,000 | $69,000 | $9,999,000 |
| Asian | 10,993 | $2,960,184,000 | $269,000 | $1,087,000 | $111,000 | $1,810,000 |
| Native Hawaiian or Other Pacific Islander | 821 | $196,368,000 | $239,000 | $729,000 | $89,000 | $552,000 |
| American Indian or Alaskan Native | 731 | $142,776,000 | $195,000 | $730,000 | $86,000 | $1,200,000 |
| 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) | 118,665 | $25,832,810,000 | $217,000 | $5,670,000 | $117,000 | $9,999,000 |
| FHA-insured (Federal Housing Administration) | 82,376 | $14,938,155,000 | $181,000 | $1,431,000 | $63,000 | $1,956,000 |
| VA-guaranteed (Veterans Administration) | 21,708 | $4,700,728,000 | $216,000 | $1,531,000 | $65,000 | $7,786,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 194 | $24,658,000 | $127,000 | $334,000 | $44,000 | $98,000 |
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 Purchased By The Institution | 212,195 | $42,938,071,000 | $202,000 | $5,670,000 | $90,000 | $8,066,000 |
| Loan Originated | 6,610 | $1,478,110,000 | $223,000 | $1,370,000 | $128,000 | $9,999,000 |
| Application Denied By Financial Institution | 2,595 | $677,267,000 | $260,000 | $2,000,000 | $129,000 | $9,999,000 |
| Application Approved But Not Accepted | 1,489 | $387,868,000 | $260,000 | $1,500,000 | $140,000 | $9,999,000 |
| Application Withdrawn By Applicant | 32 | $8,715,000 | $272,000 | $945,000 | $138,000 | $506,000 |
| Preapproval Denied by Financial Institution | 16 | $5,131,000 | $320,000 | $720,000 | $109,000 | $436,000 |
| Preapproval Approved but not Accepted | 6 | $1,189,000 | $198,000 | $360,000 | $86,000 | $142,000 |
| 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 | 877 | $248,913,000 | $283,000 | $1,737,000 | $95,000 | $3,912,000 |
| Collateral | 820 | $191,460,000 | $233,000 | $1,660,000 | $142,000 | $1,821,000 |
| Other | 236 | $57,587,000 | $244,000 | $1,355,000 | $164,000 | $1,800,000 |
| Unverifiable Information | 210 | $56,078,000 | $267,000 | $900,000 | $124,000 | $839,000 |
| Credit Application Incomplete | 177 | $50,147,000 | $283,000 | $1,795,000 | $151,000 | $1,800,000 |
| Credit History | 155 | $33,867,000 | $218,000 | $1,720,000 | $95,000 | $400,000 |
| Employment History | 76 | $20,006,000 | $263,000 | $858,000 | $223,000 | $9,999,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 60 | $24,340,000 | $405,000 | $2,000,000 | $234,000 | $1,664,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Wells Fargo Funding, Inc's 2011 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 Funding, 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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