Western Paradise Financial Mortgage Lending & HMDA Data, 2006
In 2006, Western Paradise Financial of Honolulu, HI reported 492 mortgage applications totaling $204.0 million. The average application was for $414,709, and applicants reported an average income of $195,792. 76% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Honolulu, HI (138), Manchester-Nashua, NH (2) and Los Angeles-Long Beach-Glendale, 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 | 492 |
| Total Mortgage Loan Application Amount | $204,037,000 |
| Average Mortgage Loan Application Amount | $414,709 |
| Highest Mortgage Loan Application Amount | $3,920,000 |
| Average Applicant Income | $195,792 |
| Highest Applicant Income | $8,000,000 |
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records Western Paradise Financial filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Honolulu, HI | 138 | $ 53,979,000 | $ 391,152 | $ 127,000 |
| Manchester-Nashua, NH | 2 | $ 340,000 | $ 170,000 | $ 78,000 |
| Los Angeles-Long Beach-Glendale, CA | 1 | $ 748,000 | $ 748,000 | $ 192,000 |
| Philadelphia, PA | 1 | $ 250,000 | $ 250,000 | $ 307,000 |
| Portland-Vancouver-Beaverton, OR-WA | 1 | $ 230,000 | $ 230,000 | $ 195,000 |
| Prescott, AZ | 1 | $ 203,000 | $ 203,000 | $ 114,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 444,000 | $ 444,000 | $ 196,000 |
| Salt Lake City, UT | 1 | $ 75,000 | $ 75,000 | $ 102,000 |
| Seattle-Bellevue-Everett, WA | 1 | $ 238,000 | $ 238,000 | $ 38,000 |
| Vallejo-Fairfield, CA | 1 | $ 295,000 | $ 295,000 | $ 106,000 |
| Yuba City, CA | 1 | $ 553,000 | $ 553,000 | $ 354,000 |
Mortgage Loan Application Detail Totals for Western Paradise Financial 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 374 | $157,633,000 | $421,000 | $2,500,000 | $214,000 | $8,000,000 |
| Refinancing | 102 | $42,651,000 | $418,000 | $3,920,000 | $145,000 | $954,000 |
| Home Improvement | 16 | $3,753,000 | $234,000 | $650,000 | $94,000 | $316,000 |
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 | 321 | $131,774,000 | $410,000 | $3,920,000 | $215,000 | $8,000,000 |
| Not Provided | 51 | $32,829,000 | $643,000 | $2,380,000 | $253,000 | $881,000 |
| Asian | 50 | $19,827,000 | $396,000 | $1,520,000 | $142,000 | $636,000 |
| Native Hawaiian or Other Pacific Islander | 47 | $12,279,000 | $261,000 | $520,000 | $102,000 | $480,000 |
| Hispanic | 17 | $5,753,000 | $338,000 | $748,000 | $121,000 | $360,000 |
| Black or African American | 5 | $1,395,000 | $279,000 | $576,000 | $79,000 | $147,000 |
| American Indian or Alaskan Native | 1 | $180,000 | $180,000 | $180,000 | $143,000 | $143,000 |
| 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) | 459 | $193,304,000 | $421,000 | $3,920,000 | $205,000 | $8,000,000 |
| VA-guaranteed (Veterans Administration) | 21 | $7,932,000 | $377,000 | $562,000 | $74,000 | $128,000 |
| FHA-insured (Federal Housing Administration) | 12 | $2,801,000 | $233,000 | $313,000 | $71,000 | $127,000 |
| 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 | 375 | $154,936,000 | $413,000 | $2,500,000 | $209,000 | $8,000,000 |
| Application Withdrawn By Applicant | 71 | $30,750,000 | $433,000 | $3,920,000 | $161,000 | $954,000 |
| Application Denied By Financial Institution | 32 | $13,143,000 | $410,000 | $1,746,000 | $148,000 | $706,000 |
| Application Approved But Not Accepted | 14 | $5,208,000 | $372,000 | $1,334,000 | $141,000 | $450,000 |
| 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 | 11 | $3,623,000 | $329,000 | $640,000 | $129,000 | $316,000 |
| Collateral | 5 | $1,214,000 | $242,000 | $459,000 | $97,000 | $160,000 |
| Credit Application Incomplete | 4 | $2,145,000 | $536,000 | $995,000 | $172,000 | $272,000 |
| Unverifiable Information | 4 | $2,974,000 | $743,000 | $1,746,000 | $260,000 | $706,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $1,579,000 | $394,000 | $557,000 | $162,000 | $239,000 |
| Debt-To-Income Ratio | 3 | $1,325,000 | $441,000 | $900,000 | $125,000 | $228,000 |
| Credit History | 1 | $283,000 | $283,000 | $283,000 | $74,000 | $74,000 |
| Employment History | 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 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 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.
For a list of all lenders in Hawaii, download the full spreadsheet
with aggregated HMDA statistics today.
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