Sarasota-Bradenton-Venice, FL Metro Area Mortgage Lenders & HMDA Data, 2007
In 2007, lenders reported 67,903 mortgage applications in Sarasota-Bradenton-Venice, FL metro area totaling $16.1 billion, down 31% from 2006. The average application was for $236,977, and applicants reported an average income of $114,000. 39% of applications resulted in an originated loan and 23% were denied. The most active lender was Countrywide Home Loans, with 5,521 applications, followed by Bank of America, N.A. and Suntrust Mortgage, Inc.
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Top Mortgage Lenders in Sarasota-Bradenton-Venice, FL Metro Area (2007)
Ranked by the number of mortgage applications each lender reported in Sarasota-Bradenton-Venice, FL metro area in 2007.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Countrywide Home Loans Westlake Village, CA |
5,521 | $1,347,302,000 | $244,000 | $122,000 |
| 2 | Bank of America, N.A. Calabasas, CA |
5,307 | $1,135,001,000 | $213,000 | $114,000 |
| 3 | Suntrust Mortgage, Inc Richmond, VA |
3,805 | $896,490,000 | $235,000 | $124,000 |
| 4 | Countrywide Bank FSB Westlake Village, CA |
3,024 | $721,898,000 | $238,000 | $136,000 |
| 5 | Wells Fargo Bank, NA Des Moines, IA |
2,931 | $777,872,000 | $265,000 | $141,000 |
| 6 | JPMorgan Chase Bank, NA Columbus, OH |
2,804 | $733,165,000 | $261,000 | $132,000 |
| 7 | Wachovia Mortgage FSB Winston-Salem, NC |
1,626 | $466,061,000 | $286,000 | $147,000 |
| 8 | Washington Mutual Bank Albion, NY |
1,623 | $583,983,000 | $359,000 | $159,000 |
| 9 | Gmac Mortgage LLC Ft. Washington, PA |
1,508 | $295,211,000 | $195,000 | $55,000 |
| 10 | Wells Fargo Bank, NA Winston-Salem, NC |
1,503 | $220,982,000 | $147,000 | $95,000 |
See every lender active in Sarasota-Bradenton-Venice, FL metro area in 2007 »
The tables below break down 2007 mortgage applications in Sarasota-Bradenton-Venice, FL 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 Sarasota-Bradenton-Venice, FL 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 | 38,493 | $9,264,593,000 | $240,000 | $13,500,000 | $107,000 | $9,999,000 |
| Home Purchase | 24,580 | $6,181,762,000 | $251,000 | $31,000,000 | $132,000 | $8,622,000 |
| Home Improvement | 4,830 | $645,130,000 | $133,000 | $3,660,000 | $88,000 | $2,733,000 |
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 | 42,821 | $10,340,603,000 | $241,000 | $13,500,000 | $131,000 | $9,999,000 |
| Not Provided | 10,398 | $2,519,137,000 | $242,000 | $10,000,000 | $115,000 | $9,245,000 |
| Not applicable | 5,587 | $1,491,387,000 | $266,000 | $31,000,000 | $36,000 | $7,494,000 |
| Hispanic | 5,085 | $971,717,000 | $191,000 | $7,000,000 | $85,000 | $9,999,000 |
| Black or African American | 2,913 | $495,034,000 | $169,000 | $2,545,000 | $67,000 | $3,584,000 |
| Asian | 824 | $217,662,000 | $264,000 | $2,893,000 | $125,000 | $1,168,000 |
| American Indian or Alaskan Native | 161 | $32,565,000 | $202,000 | $1,000,000 | $89,000 | $1,174,000 |
| Native Hawaiian or Other Pacific Islander | 114 | $23,380,000 | $205,000 | $1,365,000 | $92,000 | $975,000 |
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) | 65,733 | $15,686,757,000 | $238,000 | $31,000,000 | $116,000 | $9,999,000 |
| FHA-insured (Federal Housing Administration) | 1,854 | $340,519,000 | $183,000 | $490,000 | $59,000 | $1,440,000 |
| VA-guaranteed (Veterans Administration) | 304 | $62,325,000 | $205,000 | $417,000 | $51,000 | $187,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 12 | $1,884,000 | $157,000 | $209,000 | $62,000 | $325,000 |
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 | 26,567 | $6,375,765,000 | $239,000 | $18,989,000 | $133,000 | $9,999,000 |
| Application Denied By Financial Institution | 15,589 | $3,656,513,000 | $234,000 | $31,000,000 | $108,000 | $9,999,000 |
| Loan Purchased By The Institution | 10,920 | $2,471,694,000 | $226,000 | $5,150,000 | $72,000 | $8,622,000 |
| Application Withdrawn By Applicant | 6,591 | $1,648,999,000 | $250,000 | $8,400,000 | $110,000 | $4,739,000 |
| Application Approved But Not Accepted | 5,755 | $1,331,514,000 | $231,000 | $7,000,000 | $127,000 | $4,092,000 |
| File Closed For Incompleteness | 2,476 | $606,064,000 | $244,000 | $7,500,000 | $127,000 | $9,999,000 |
| Preapproval Denied by Financial Institution | 5 | $936,000 | $187,000 | $300,000 | $54,000 | $162,000 |
| 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 | 2,594 | $705,363,000 | $271,000 | $4,515,000 | $144,000 | $9,999,000 |
| Credit History | 2,205 | $400,259,000 | $181,000 | $3,560,000 | $100,000 | $9,999,000 |
| Debt-To-Income Ratio | 2,085 | $458,421,000 | $219,000 | $6,450,000 | $78,000 | $1,110,000 |
| Other | 1,767 | $520,289,000 | $294,000 | $31,000,000 | $126,000 | $2,280,000 |
| Credit Application Incomplete | 1,203 | $344,404,000 | $286,000 | $6,000,000 | $146,000 | $3,600,000 |
| Unverifiable Information | 597 | $166,238,000 | $278,000 | $4,900,000 | $135,000 | $1,376,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 216 | $58,719,000 | $271,000 | $3,225,000 | $121,000 | $1,000,000 |
| Employment History | 157 | $39,390,000 | $250,000 | $3,895,000 | $103,000 | $1,500,000 |
| Mortgage Insurance Denied | 4 | $1,150,000 | $287,000 | $405,000 | $170,000 | $473,000 |
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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