Western Residential Mortgage Mortgage Lending & HMDA Data, 2007
In 2007, Western Residential Mortgage of Phoenix, AZ reported 2,635 mortgage applications totaling $555.1 million, down 38% from 2006. The average application was for $210,650, and applicants reported an average income of $76,284. 34% of its applications resulted in an originated loan and 44% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (1,466), Tucson, AZ (121) and Las Vegas-Paradise, NV (92) (applications in parentheses).
| Mortgage Company & Address | Western Residential Mortgage 301 W, Claredon Ave Ste 475 Phoenix, AZ 85013 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 |
| Total Number of Mortgage Applications | 2,635 |
| Total Mortgage Loan Application Amount | $555,064,000 |
| Average Mortgage Loan Application Amount | $210,650 |
| Highest Mortgage Loan Application Amount | $2,145,000 |
| Average Applicant Income | $76,284 |
| Highest Applicant Income | $2,052,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Western Residential Mortgage filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Phoenix-Mesa-Scottsdale, AZ | 1,466 | $ 300,333,000 | $ 204,865 | $ 72,000 |
| Tucson, AZ | 121 | $ 21,973,000 | $ 181,595 | $ 71,000 |
| Las Vegas-Paradise, NV | 92 | $ 26,111,000 | $ 283,815 | $ 112,000 |
| Chicago-Naperville-Joliet, IL | 67 | $ 17,555,000 | $ 262,014 | $ 87,000 |
| San Diego-Carlsbad-San Marcos, CA | 62 | $ 20,355,000 | $ 328,306 | $ 127,000 |
| Davenport-Moline-Rock Island, IA-IL | 61 | $ 6,290,000 | $ 103,114 | $ 52,721 |
| Riverside-San Bernardino-Ontario, CA | 52 | $ 16,027,000 | $ 308,211 | $ 94,000 |
| Los Angeles-Long Beach-Glendale, CA | 49 | $ 18,801,000 | $ 383,693 | $ 79,000 |
| Prescott, AZ | 28 | $ 5,966,000 | $ 213,071 | $ 150,000 |
| Yuma, AZ | 28 | $ 4,108,000 | $ 146,714 | $ 62,000 |
| Albuquerque, NM | 25 | $ 3,419,000 | $ 136,760 | $ 49,000 |
| Dallas-Plano-Irving, TX | 25 | $ 6,842,000 | $ 273,680 | $ 174,000 |
| Stockton, CA | 23 | $ 7,307,000 | $ 317,695 | $ 105,000 |
| Modesto, CA | 19 | $ 4,096,000 | $ 215,578 | $ 50,000 |
| Lake Havasu City-Kingman, AZ | 18 | $ 2,770,000 | $ 153,888 | $ 74,000 |
| Boise City-Nampa, ID | 17 | $ 2,923,000 | $ 171,941 | $ 49,000 |
| Portland-Vancouver-Beaverton, OR-WA | 16 | $ 3,438,000 | $ 214,875 | $ 40,000 |
| Seattle-Bellevue-Everett, WA | 16 | $ 4,924,000 | $ 307,750 | $ 93,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 12 | $ 2,205,000 | $ 183,750 | $ 84,000 |
| Bakersfield, CA | 11 | $ 2,360,000 | $ 214,545 | $ 66,000 |
| Denver-Aurora, CO | 11 | $ 1,920,000 | $ 174,545 | $ 57,000 |
| Houston-Sugar Land-Baytown, TX | 11 | $ 2,521,000 | $ 229,181 | $ 66,000 |
| Santa Ana-Anaheim-Irvine, CA | 9 | $ 3,683,000 | $ 409,222 | $ 133,000 |
| Des Moines-West Des Moines, IA | 8 | $ 1,079,000 | $ 134,875 | $ 72,000 |
| Flagstaff, AZ | 8 | $ 2,322,000 | $ 290,250 | $ 70,000 |
| Oakland-Fremont-Hayward, CA | 8 | $ 2,973,000 | $ 371,625 | $ 86,000 |
| Fresno, CA | 7 | $ 1,297,000 | $ 185,285 | $ 56,000 |
| Reno-Sparks, NV | 7 | $ 1,848,000 | $ 264,000 | $ 62,000 |
| Bellingham, WA | 6 | $ 1,227,000 | $ 204,500 | $ 47,000 |
| Indianapolis-Carmel, IN | 6 | $ 481,000 | $ 80,166 | $ 48,000 |
| Kansas City, MO-KS | 6 | $ 887,000 | $ 147,833 | $ 145,000 |
| Las Cruces, NM | 6 | $ 695,000 | $ 115,833 | $ 62,000 |
| Sioux City, IA-NE-SD | 6 | $ 369,000 | $ 61,500 | $ 109,500 |
| Waco, TX | 6 | $ 790,000 | $ 131,666 | $ 56,000 |
| Lake County-Kenosha County, IL-WI | 5 | $ 1,594,000 | $ 318,800 | $ 135,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 5 | $ 2,511,000 | $ 502,200 | $ 127,000 |
| El Centro, CA | 4 | $ 814,000 | $ 203,500 | $ 86,000 |
| Fort Worth-Arlington, TX | 4 | $ 429,000 | $ 107,250 | $ 94,000 |
| Madera, CA | 4 | $ 629,000 | $ 157,250 | $ 371,000 |
| Santa Fe, NM | 4 | $ 954,000 | $ 238,500 | $ 76,000 |
| Bremerton-Silverdale, WA | 3 | $ 1,162,000 | $ 387,333 | $ 305,000 |
| Chico, CA | 3 | $ 950,000 | $ 316,666 | $ 296,000 |
| Colorado Springs, CO | 3 | $ 537,000 | $ 179,000 | $ 48,000 |
| Eugene-Springfield, OR | 3 | $ 422,000 | $ 140,666 | $ 46,000 |
| Killeen-Temple-Fort Hood, TX | 3 | $ 244,000 | $ 81,333 | $ 95,000 |
| Merced, CA | 3 | $ 460,000 | $ 153,333 | $ 64,000 |
| Omaha-Council Bluffs, NE-IA | 3 | $ 371,000 | $ 123,666 | $ 80,333 |
| Visalia-Porterville, CA | 3 | $ 351,000 | $ 117,000 | $ 21,000 |
| Waterloo-Cedar Falls, IA | 3 | $ 274,000 | $ 91,333 | $ 25,000 |
| Yuba City, CA | 3 | $ 510,000 | $ 170,000 | $ 36,000 |
| Chattanooga, TN-GA | 2 | $ 316,000 | $ 158,000 | $ 68,000 |
| Farmington, NM | 2 | $ 190,000 | $ 95,000 | $ 43,000 |
| Grand Junction, CO | 2 | $ 261,000 | $ 130,500 | $ 39,000 |
| Kalamazoo-Portage, MI | 2 | $ 552,000 | $ 276,000 | $ 84,000 |
| Kennewick-Richland-Pasco, WA | 2 | $ 320,000 | $ 160,000 | $ 58,000 |
| Longview, WA | 2 | $ 486,000 | $ 243,000 | $ 60,000 |
| Niles-Benton Harbor, MI | 2 | $ 279,000 | $ 139,500 | $ 51,000 |
| Peoria, IL | 2 | $ 89,000 | $ 44,500 | $ 51,000 |
| Pueblo, CO | 2 | $ 153,000 | $ 76,500 | $ 32,000 |
| Salem, OR | 2 | $ 374,000 | $ 187,000 | $ 53,000 |
| San Antonio, TX | 2 | $ 213,000 | $ 106,500 | $ 63,000 |
| San Francisco-San Mateo-Redwood City, CA | 2 | $ 947,000 | $ 473,500 | $ 0 |
| Santa Barbara-Santa Maria-Goleta, CA | 2 | $ 627,000 | $ 313,500 | $ 121,000 |
| Spokane, WA | 2 | $ 278,000 | $ 139,000 | $ 62,000 |
| Tacoma, WA | 2 | $ 477,000 | $ 238,500 | $ 70,000 |
| Brownsville-Harlingen, TX | 1 | $ 173,000 | $ 173,000 | $ 51,000 |
| Cedar Rapids, IA | 1 | $ 71,000 | $ 71,000 | $ 17,000 |
| Cheyenne, WY | 1 | $ 136,000 | $ 136,000 | $ 36,000 |
| Clarksville, TN-KY | 1 | $ 160,000 | $ 160,000 | $ 49,000 |
| Coeur D'Alene, ID | 1 | $ 120,000 | $ 120,000 | $ 29,000 |
| Dubuque, IA | 1 | $ 89,000 | $ 89,000 | $ 69,000 |
| Greeley, CO | 1 | $ 161,000 | $ 161,000 | $ 38,000 |
| Holland-Grand Haven, MI | 1 | $ 162,000 | $ 162,000 | $ 70,000 |
| Lansing-East Lansing, MI | 1 | $ 68,000 | $ 68,000 | $ 26,000 |
| Lewiston, ID-WA | 1 | $ 164,000 | $ 164,000 | $ 40,000 |
| Louisville-Jefferson County, KY-IN | 1 | $ 123,000 | $ 123,000 | $ 35,000 |
| McAllen-Edinburg-Mission, TX | 1 | $ 230,000 | $ 230,000 | $ 81,000 |
| Medford, OR | 1 | $ 350,000 | $ 350,000 | $ 0 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 1 | $ 74,000 | $ 74,000 | $ 50,000 |
| Ogden-Clearfield, UT | 1 | $ 229,000 | $ 229,000 | $ 0 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 385,000 | $ 385,000 | $ 64,000 |
| Pocatello, ID | 1 | $ 145,000 | $ 145,000 | $ 91,000 |
| Rockford, IL | 1 | $ 55,000 | $ 55,000 | $ 145,000 |
| Salt Lake City, UT | 1 | $ 170,000 | $ 170,000 | $ 65,000 |
| Sherman-Denison, TX | 1 | $ 364,000 | $ 364,000 | $ 191,000 |
| St. Louis, MO-IL | 1 | $ 49,000 | $ 49,000 | $ 38,000 |
| Wenatchee, WA | 1 | $ 315,000 | $ 315,000 | $ 69,000 |
Mortgage Loan Application Detail Totals for Western Residential Mortgage in 2007
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 | 1,282 | $264,487,000 | $206,000 | $2,145,000 | $72,000 | $2,052,000 |
| Home Purchase | 1,273 | $275,509,000 | $216,000 | $1,900,000 | $82,000 | $854,000 |
| Home Improvement | 80 | $15,068,000 | $188,000 | $472,000 | $54,000 | $200,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 1,084 | $199,916,000 | $184,000 | $1,000,000 | $55,000 | $636,000 |
| White | 1,044 | $227,782,000 | $218,000 | $2,145,000 | $90,000 | $1,896,000 |
| Not Provided | 242 | $54,141,000 | $223,000 | $1,610,000 | $96,000 | $2,052,000 |
| Black or African American | 159 | $43,401,000 | $272,000 | $1,900,000 | $97,000 | $480,000 |
| Asian | 81 | $24,418,000 | $301,000 | $1,013,000 | $89,000 | $418,000 |
| Native Hawaiian or Other Pacific Islander | 18 | $3,842,000 | $213,000 | $394,000 | $91,000 | $483,000 |
| American Indian or Alaskan Native | 7 | $1,564,000 | $223,000 | $456,000 | $77,000 | $175,000 |
| 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) | 2,363 | $509,495,000 | $215,000 | $2,145,000 | $79,000 | $2,052,000 |
| FHA-insured (Federal Housing Administration) | 267 | $44,712,000 | $167,000 | $368,000 | $53,000 | $167,000 |
| VA-guaranteed (Veterans Administration) | 4 | $709,000 | $177,000 | $285,000 | $75,000 | $112,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $148,000 | $148,000 | $148,000 | $53,000 | $53,000 |
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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 1,162 | $261,338,000 | $224,000 | $1,610,000 | $78,000 | $854,000 |
| Loan Originated | 886 | $170,614,000 | $192,000 | $2,145,000 | $71,000 | $1,896,000 |
| Application Approved But Not Accepted | 398 | $75,458,000 | $189,000 | $1,286,000 | $70,000 | $636,000 |
| Application Withdrawn By Applicant | 166 | $41,736,000 | $251,000 | $1,900,000 | $110,000 | $2,052,000 |
| File Closed For Incompleteness | 22 | $5,842,000 | $265,000 | $1,256,000 | $88,000 | $316,000 |
| Preapproval Denied by Financial Institution | 1 | $76,000 | $76,000 | $76,000 | $24,000 | $24,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 3 | $338,000 | $112,000 | $156,000 | $59,000 | $73,000 |
| Other | 2 | $350,000 | $175,000 | $280,000 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Western Residential Mortgage's 2007 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 Residential Mortgage'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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