Vero Beach, FL Metro Area Mortgage Lenders & HMDA Data, 2004
In 2004, lenders reported 16,220 mortgage applications in Vero Beach, FL metro area totaling $2.5 billion. The average application was for $154,720, and applicants reported an average income of $85,000. 49% of applications resulted in an originated loan and 16% were denied. The most active lender was Ameriquest Mortgage Company, with 1,432 applications, followed by Harbor Federal Savings Bank and Chase Manhattan Mortgage Corp..
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| Years | 2005 2004 |
| Total Number of Mortgage Applications | 16,220 |
| Total Mortgage Loan Application Amount | $2,509,572,000 |
| Average Mortgage Loan Application Amount | $154,720 |
| Highest Mortgage Loan Application Amount | $8,498,000 |
| Average Applicant Income | $85,000 |
| Highest Applicant Income | $9,999,000 |
Top Mortgage Lenders in Vero Beach, FL Metro Area (2004)
Ranked by the number of mortgage applications each lender reported in Vero Beach, FL metro area in 2004.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Ameriquest Mortgage Company Orange, CA |
1,432 | $161,654,000 | $112,000 | $72,000 |
| 2 | Harbor Federal Savings Bank Fort Pierce, FL |
1,033 | $170,983,000 | $165,000 | $72,000 |
| 3 | Chase Manhattan Mortgage Corp. Iselin, NJ |
861 | $131,847,000 | $153,000 | $69,000 |
| 4 | Countrywide Home Loans Westlake Village, CA |
841 | $140,817,000 | $167,000 | $69,000 |
| 5 | Washington Mutual Bank Albion, NY |
715 | $156,117,000 | $218,000 | $101,000 |
| 6 | Bank of America, N.A. Calabasas, CA |
553 | $91,018,000 | $164,000 | $93,000 |
| 7 | Wells Fargo Bank, NA Winston-Salem, NC |
535 | $62,938,000 | $117,000 | $71,000 |
| 8 | Wells Fargo Bank, NA Des Moines, IA |
453 | $70,479,000 | $155,000 | $80,000 |
| 9 | Seacoast National Bank Miami, FL |
453 | $74,823,000 | $165,000 | $54,000 |
| 10 | Gmac Mortgage LLC Ft. Washington, PA |
433 | $52,056,000 | $120,000 | $111,000 |
See every lender active in Vero Beach, FL metro area in 2004 »
The tables below break down 2004 mortgage applications in Vero Beach, 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 Vero Beach, FL in 2004
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 | 7,561 | $1,047,215,000 | $138,000 | $5,500,000 | $73,000 | $9,999,000 |
| Home Purchase | 7,467 | $1,358,657,000 | $181,000 | $8,498,000 | $103,000 | $4,732,000 |
| Home Improvement | 1,192 | $103,700,000 | $86,000 | $1,775,000 | $66,000 | $1,513,000 |
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 | 11,330 | $1,791,133,000 | $158,000 | $5,500,000 | $98,000 | $9,999,000 |
| Not Provided | 2,099 | $294,736,000 | $140,000 | $2,000,000 | $91,000 | $4,134,000 |
| Not applicable | 1,198 | $234,102,000 | $195,000 | $8,498,000 | $35,000 | $2,316,000 |
| Hispanic | 779 | $94,074,000 | $120,000 | $1,500,000 | $68,000 | $1,300,000 |
| Black or African American | 600 | $59,944,000 | $99,000 | $2,240,000 | $53,000 | $1,057,000 |
| Asian | 111 | $21,506,000 | $193,000 | $1,823,000 | $101,000 | $1,065,000 |
| American Indian or Alaskan Native | 73 | $9,492,000 | $130,000 | $490,000 | $78,000 | $354,000 |
| Native Hawaiian or Other Pacific Islander | 30 | $4,585,000 | $152,000 | $304,000 | $67,000 | $148,000 |
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) | 15,802 | $2,463,692,000 | $155,000 | $8,498,000 | $89,000 | $9,999,000 |
| FHA-insured (Federal Housing Administration) | 310 | $32,556,000 | $105,000 | $305,000 | $29,000 | $410,000 |
| VA-guaranteed (Veterans Administration) | 105 | $12,942,000 | $123,000 | $750,000 | $37,000 | $190,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $382,000 | $127,000 | $149,000 | $45,000 | $58,000 |
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 | 7,951 | $1,357,865,000 | $170,000 | $8,498,000 | $102,000 | $4,732,000 |
| Application Denied By Financial Institution | 2,595 | $319,963,000 | $123,000 | $5,400,000 | $69,000 | $9,999,000 |
| Loan Purchased By The Institution | 2,145 | $322,200,000 | $150,000 | $2,325,000 | $50,000 | $2,316,000 |
| Application Withdrawn By Applicant | 2,026 | $298,840,000 | $147,000 | $5,500,000 | $85,000 | $1,340,000 |
| Application Approved But Not Accepted | 1,182 | $161,211,000 | $136,000 | $3,000,000 | $94,000 | $4,134,000 |
| File Closed For Incompleteness | 321 | $49,493,000 | $154,000 | $1,500,000 | $109,000 | $2,250,000 |
| 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 | 749 | $90,508,000 | $120,000 | $1,950,000 | $70,000 | $1,404,000 |
| Credit History | 587 | $58,695,000 | $99,000 | $1,500,000 | $68,000 | $1,270,000 |
| Credit Application Incomplete | 257 | $41,784,000 | $162,000 | $5,400,000 | $86,000 | $9,999,000 |
| Collateral | 244 | $36,372,000 | $149,000 | $2,175,000 | $77,000 | $1,268,000 |
| Debt-To-Income Ratio | 242 | $32,688,000 | $135,000 | $2,325,000 | $48,000 | $501,000 |
| Unverifiable Information | 59 | $10,338,000 | $175,000 | $925,000 | $90,000 | $540,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 34 | $6,253,000 | $183,000 | $1,260,000 | $83,000 | $379,000 |
| Employment History | 31 | $3,075,000 | $99,000 | $348,000 | $52,000 | $174,000 |
| Mortgage Insurance Denied | 1 | $58,000 | $58,000 | $58,000 | $44,000 | $44,000 |
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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