New Orleans-Metairie-Kenner, LA Metro Area Mortgage Lenders & HMDA Data, 2005

In 2005, lenders reported 113,217 mortgage applications in New Orleans-Metairie-Kenner, LA metro area totaling $14.1 billion, down 13% from 2004. The average application was for $124,618, and applicants reported an average income of $67,000. 40% of applications resulted in an originated loan and 23% were denied. The most active lender was Ameriquest Mortgage Company, with 9,887 applications, followed by Countrywide Home Loans and Capital One NA.

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Total Number of Mortgage Applications 113,217
Total Mortgage Loan Application Amount $14,108,918,000
Average Mortgage Loan Application Amount $124,618
Highest Mortgage Loan Application Amount $11,300,000
Average Applicant Income $67,000
Highest Applicant Income $9,999,000
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Top Mortgage Lenders in New Orleans-Metairie-Kenner, LA Metro Area (2005)

Ranked by the number of mortgage applications each lender reported in New Orleans-Metairie-Kenner, LA metro area in 2005.

# Mortgage Lender Mortgage Applications Total Dollar Amount Average Loan Amount Average Applicant Income
1 Ameriquest Mortgage Company
Orange, CA
9,887 $1,188,888,000 $120,000 $76,000
2 Countrywide Home Loans
Westlake Village, CA
7,990 $1,109,221,000 $138,000 $63,000
3 Capital One NA
Baton Rouge, LA
7,867 $754,075,000 $95,000 $69,000
4 JPMorgan Chase Bank, NA
Columbus, OH
5,616 $719,337,000 $128,000 $66,000
5 Argent Mortgage Company
Orange, CA
3,054 $337,853,000 $110,000 $58,000
6 Wells Fargo Bank, NA
Des Moines, IA
2,908 $418,098,000 $143,000 $62,000
7 Whitney National Bank
Jefferson, LA
2,323 $262,457,000 $112,000 $69,000
8 Beneficial Company LLC
Mettawa, IL
1,978 $181,976,000 $92,000 $58,000
9 Standard Mortgage Corporation
New Orleans, LA
1,936 $267,025,000 $137,000 $48,000
10 Nationstar Mortgage
Coppell, TX
1,799 $186,426,000 $103,000 $50,000

See every lender active in New Orleans-Metairie-Kenner, LA metro area in 2005 »

The tables below break down 2005 mortgage applications in New Orleans-Metairie-Kenner, LA metro area by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.

Mortgage Loan Application Detail Totals for New Orleans-Metairie-Kenner, LA in 2005

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 58,122 $7,416,339,000 $127,000 $11,300,000 $64,000 $9,999,000
Home Purchase 44,824 $6,065,092,000 $135,000 $3,078,000 $70,000 $7,550,000
Home Improvement 10,271 $627,487,000 $61,000 $2,925,000 $65,000 $1,680,000

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 52,938 $7,248,001,000 $136,000 $4,999,000 $76,000 $9,000,000
Black or African American 26,231 $2,577,576,000 $98,000 $2,280,000 $57,000 $7,550,000
Not Provided 19,369 $2,363,644,000 $122,000 $1,510,000 $68,000 $9,999,000
Not applicable 8,199 $1,136,009,000 $138,000 $11,300,000 $28,000 $5,218,000
Hispanic 4,194 $477,649,000 $113,000 $1,600,000 $63,000 $1,238,000
Asian 1,601 $219,869,000 $137,000 $1,063,000 $77,000 $1,273,000
American Indian or Alaskan Native 521 $66,147,000 $126,000 $1,802,000 $69,000 $2,444,000
Native Hawaiian or Other Pacific Islander 164 $20,023,000 $122,000 $594,000 $72,000 $537,000

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) 106,443 $13,380,051,000 $125,000 $11,300,000 $70,000 $9,999,000
FHA-insured (Federal Housing Administration) 5,428 $549,696,000 $101,000 $359,000 $36,000 $1,020,000
VA-guaranteed (Veterans Administration) 1,221 $164,840,000 $135,000 $342,000 $44,000 $1,980,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 125 $14,331,000 $114,000 $223,000 $33,000 $75,000

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 Originated 45,206 $6,035,211,000 $133,000 $10,600,000 $76,000 $9,999,000
Application Denied By Financial Institution 25,499 $2,653,727,000 $104,000 $3,040,000 $63,000 $9,000,000
Loan Purchased By The Institution 13,681 $1,832,556,000 $133,000 $11,300,000 $41,000 $2,206,000
Application Withdrawn By Applicant 13,675 $1,803,110,000 $131,000 $2,280,000 $69,000 $5,668,000
Application Approved But Not Accepted 9,394 $1,026,878,000 $109,000 $3,040,000 $66,000 $2,631,000
File Closed For Incompleteness 5,628 $741,574,000 $131,000 $2,850,000 $69,000 $2,100,000
Preapproval Denied by Financial Institution 132 $15,646,000 $118,000 $238,000 $29,000 $111,000
Preapproval Approved but not Accepted 2 $216,000 $108,000 $121,000 $74,000 $110,000

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 7,125 $805,515,000 $113,000 $3,040,000 $70,000 $8,474,000
Credit History 5,219 $389,255,000 $74,000 $1,250,000 $61,000 $9,000,000
Collateral 2,238 $267,089,000 $119,000 $1,120,000 $76,000 $1,238,000
Credit Application Incomplete 2,063 $254,590,000 $123,000 $2,925,000 $73,000 $1,537,000
Debt-To-Income Ratio 2,045 $223,861,000 $109,000 $2,500,000 $48,000 $1,836,000
Unverifiable Information 657 $83,879,000 $127,000 $730,000 $70,000 $960,000
Insufficient Cash (Downpayment, Closing Cost) 193 $23,408,000 $121,000 $743,000 $55,000 $346,000
Employment History 138 $16,275,000 $117,000 $479,000 $72,000 $1,531,000
Mortgage Insurance Denied 18 $2,410,000 $133,000 $360,000 $80,000 $474,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.

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