West Michigan Mortgage LLC Mortgage Lending & HMDA Data, 2008
In 2008, West Michigan Mortgage LLC of Hudsonville, MI reported 82 mortgage applications totaling $13.1 million, down 9% from 2007. The average application was for $160,219, and applicants reported an average income of $82,060. 39% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Holland-Grand Haven, MI (40), Grand Rapids-Wyoming, MI (22) and Warren-Troy-Farmington Hills, MI (2) (applications in parentheses).
| Mortgage Company & Address | West Michigan Mortgage LLC 5367 School Ave Hudsonville, MI 49426 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 82 |
| Total Mortgage Loan Application Amount | $13,138,000 |
| Average Mortgage Loan Application Amount | $160,219 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $82,060 |
| Highest Applicant Income | $558,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records West Michigan Mortgage LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 West Michigan Mortgage LLC 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 | 45 | $8,178,000 | $181,000 | $417,000 | $99,000 | $558,000 |
| Home Purchase | 36 | $4,838,000 | $134,000 | $325,000 | $62,000 | $169,000 |
| Home Improvement | 1 | $122,000 | $122,000 | $122,000 | $42,000 | $42,000 |
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 | 74 | $11,891,000 | $160,000 | $417,000 | $88,000 | $558,000 |
| Not Provided | 4 | $799,000 | $199,000 | $267,000 | $33,000 | $46,000 |
| Hispanic | 3 | $395,000 | $131,000 | $240,000 | $29,000 | $52,000 |
| American Indian or Alaskan Native | 1 | $53,000 | $53,000 | $53,000 | $19,000 | $19,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 71 | $11,500,000 | $161,000 | $417,000 | $87,000 | $558,000 |
| FHA-insured (Federal Housing Administration) | 10 | $1,544,000 | $154,000 | $280,000 | $51,000 | $109,000 |
| VA-guaranteed (Veterans Administration) | 1 | $94,000 | $94,000 | $94,000 | $40,000 | $40,000 |
| 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 | 32 | $5,546,000 | $173,000 | $417,000 | $108,000 | $484,000 |
| Application Approved But Not Accepted | 20 | $3,431,000 | $171,000 | $270,000 | $92,000 | $558,000 |
| Application Denied By Financial Institution | 15 | $2,378,000 | $158,000 | $412,000 | $52,000 | $218,000 |
| Application Withdrawn By Applicant | 7 | $1,114,000 | $159,000 | $240,000 | $51,000 | $87,000 |
| Preapproval Denied by Financial Institution | 6 | $513,000 | $85,000 | $184,000 | $26,000 | $45,000 |
| File Closed For Incompleteness | 2 | $156,000 | $78,000 | $91,000 | $64,000 | $96,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 West Michigan Mortgage LLC'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 West Michigan Mortgage LLC'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.
For a list of all lenders in Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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