Western Paradise Financial Mortgage Lending & HMDA Data, 2008
In 2008, Western Paradise Financial of Honolulu, HI reported 86 mortgage applications totaling $35.1 million, down 80% from 2007. The average application was for $408,232, and applicants reported an average income of $145,046. 34% of its applications resulted in an originated loan and 47% were denied. Its largest markets were Honolulu, HI (40), Phoenix-Mesa-Scottsdale, AZ (4) and Santa Rosa-Petaluma, CA (1) (applications in parentheses).
| Mortgage Company & Address | Western Paradise Financial 6700 Kalanianaole Hwy, Ste 210 Honolulu, HI 96825 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 |
| Total Number of Mortgage Applications | 86 |
| Total Mortgage Loan Application Amount | $35,108,000 |
| Average Mortgage Loan Application Amount | $408,232 |
| Highest Mortgage Loan Application Amount | $1,577,000 |
| Average Applicant Income | $145,046 |
| Highest Applicant Income | $421,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Western Paradise Financial filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Western Paradise Financial 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 54 | $20,867,000 | $386,000 | $980,000 | $139,000 | $421,000 |
| Refinancing | 28 | $13,613,000 | $486,000 | $1,577,000 | $169,000 | $420,000 |
| Home Improvement | 4 | $628,000 | $157,000 | $225,000 | $59,000 | $106,000 |
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 | 44 | $20,583,000 | $467,000 | $1,577,000 | $173,000 | $421,000 |
| Native Hawaiian or Other Pacific Islander | 15 | $4,732,000 | $315,000 | $625,000 | $90,000 | $152,000 |
| Asian | 15 | $5,312,000 | $354,000 | $626,000 | $162,000 | $369,000 |
| Hispanic | 8 | $3,062,000 | $382,000 | $677,000 | $89,000 | $147,000 |
| Black or African American | 3 | $1,099,000 | $366,000 | $478,000 | $92,000 | $145,000 |
| Not Provided | 1 | $320,000 | $320,000 | $320,000 | $103,000 | $103,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 59 | $24,973,000 | $423,000 | $1,577,000 | $171,000 | $421,000 |
| VA-guaranteed (Veterans Administration) | 19 | $7,465,000 | $392,000 | $677,000 | $89,000 | $147,000 |
| FHA-insured (Federal Housing Administration) | 8 | $2,670,000 | $333,000 | $536,000 | $86,000 | $129,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 40 | $17,791,000 | $444,000 | $1,577,000 | $164,000 | $421,000 |
| Loan Originated | 29 | $10,159,000 | $350,000 | $800,000 | $102,000 | $324,000 |
| Application Withdrawn By Applicant | 16 | $6,481,000 | $405,000 | $800,000 | $175,000 | $369,000 |
| Application Approved But Not Accepted | 1 | $677,000 | $677,000 | $677,000 | $147,000 | $147,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 27 | $13,142,000 | $486,000 | $1,577,000 | $184,000 | $421,000 |
| Credit Application Incomplete | 3 | $948,000 | $316,000 | $552,000 | $181,000 | $420,000 |
| Credit History | 3 | $1,264,000 | $421,000 | $536,000 | $121,000 | $145,000 |
| Debt-To-Income Ratio | 3 | $1,259,000 | $419,000 | $625,000 | $83,000 | $140,000 |
| Unverifiable Information | 2 | $726,000 | $363,000 | $550,000 | $172,000 | $300,000 |
| Collateral | 2 | $452,000 | $226,000 | $227,000 | $52,000 | $56,000 |
| 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 Western Paradise Financial'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 Western Paradise Financial'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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