Warren-Farmington Hills-Troy, MI Metro Area Mortgage Lenders & HMDA Data, 2005
In 2005, lenders reported 343,793 mortgage applications in Warren-Farmington Hills-Troy, MI metro area totaling $55.4 billion, down 2% from 2004. The average application was for $161,257, and applicants reported an average income of $76,000. 43% of applications resulted in an originated loan and 18% were denied. The most active lender was Countrywide Home Loans, with 24,047 applications, followed by Ameriquest Mortgage Company and Flagstar Bank.
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| Years | 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 343,793 |
| Total Mortgage Loan Application Amount | $55,439,194,000 |
| Average Mortgage Loan Application Amount | $161,257 |
| Highest Mortgage Loan Application Amount | $38,250,000 |
| Average Applicant Income | $76,000 |
| Highest Applicant Income | $9,999,000 |
Top Mortgage Lenders in Warren-Farmington Hills-Troy, MI Metro Area (2005)
Ranked by the number of mortgage applications each lender reported in Warren-Farmington Hills-Troy, MI metro area in 2005.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Countrywide Home Loans Westlake Village, CA |
24,047 | $4,417,871,000 | $183,000 | $72,000 |
| 2 | Ameriquest Mortgage Company Orange, CA |
18,589 | $3,027,496,000 | $162,000 | $84,000 |
| 3 | Flagstar Bank Troy, MI |
15,708 | $2,267,334,000 | $144,000 | $69,000 |
| 4 | Gmac Mortgage LLC Ft. Washington, PA |
11,407 | $1,902,116,000 | $166,000 | $72,000 |
| 5 | Abn Amro Mtg Group Inc New York, NY |
9,898 | $1,652,813,000 | $166,000 | $77,000 |
| 6 | Washington Mutual Bank Albion, NY |
9,458 | $1,921,842,000 | $203,000 | $67,000 |
| 7 | Argent Mortgage Company Orange, CA |
9,015 | $1,413,269,000 | $156,000 | $63,000 |
| 8 | JPMorgan Chase Bank, NA Columbus, OH |
8,565 | $1,427,745,000 | $166,000 | $66,000 |
| 9 | National City Bank of Indiana Cleveland, OH |
7,848 | $1,340,911,000 | $170,000 | $78,000 |
| 10 | Citimortgage, Inc New York, NY |
5,165 | $762,319,000 | $147,000 | $88,000 |
See every lender active in Warren-Farmington Hills-Troy, MI metro area in 2005 »
The tables below break down 2005 mortgage applications in Warren-Farmington Hills-Troy, MI 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 Warren-Farmington Hills-Troy, MI 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 | 211,547 | $36,032,442,000 | $170,000 | $29,000,000 | $75,000 | $9,999,000 |
| Home Purchase | 113,515 | $17,956,954,000 | $158,000 | $38,250,000 | $78,000 | $9,720,000 |
| Home Improvement | 18,731 | $1,449,798,000 | $77,000 | $35,400,000 | $75,000 | $2,160,000 |
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 | 230,400 | $36,599,486,000 | $158,000 | $6,000,000 | $78,000 | $9,999,000 |
| Not Provided | 45,751 | $7,061,835,000 | $154,000 | $24,025,000 | $77,000 | $9,999,000 |
| Not applicable | 28,315 | $5,295,967,000 | $187,000 | $38,250,000 | $15,000 | $4,000,000 |
| Black or African American | 25,507 | $4,005,905,000 | $157,000 | $3,780,000 | $83,000 | $8,287,000 |
| Asian | 6,778 | $1,442,789,000 | $212,000 | $2,500,000 | $88,000 | $1,200,000 |
| Hispanic | 5,308 | $747,451,000 | $140,000 | $2,590,000 | $75,000 | $6,060,000 |
| American Indian or Alaskan Native | 1,097 | $176,867,000 | $161,000 | $2,500,000 | $75,000 | $2,000,000 |
| Native Hawaiian or Other Pacific Islander | 637 | $108,894,000 | $170,000 | $1,116,000 | $84,000 | $1,800,000 |
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) | 331,836 | $53,820,421,000 | $162,000 | $38,250,000 | $80,000 | $9,999,000 |
| FHA-insured (Federal Housing Administration) | 10,725 | $1,422,896,000 | $132,000 | $314,000 | $40,000 | $932,000 |
| VA-guaranteed (Veterans Administration) | 1,099 | $176,654,000 | $160,000 | $367,000 | $39,000 | $289,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 133 | $19,223,000 | $144,000 | $430,000 | $34,000 | $113,000 |
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 | 148,003 | $23,799,842,000 | $160,000 | $35,400,000 | $84,000 | $8,287,000 |
| Application Denied By Financial Institution | 62,331 | $9,358,570,000 | $150,000 | $24,025,000 | $73,000 | $9,999,000 |
| Loan Purchased By The Institution | 57,757 | $9,919,525,000 | $171,000 | $5,000,000 | $48,000 | $7,500,000 |
| Application Withdrawn By Applicant | 34,760 | $5,801,302,000 | $166,000 | $18,025,000 | $82,000 | $9,999,000 |
| Application Approved But Not Accepted | 25,221 | $3,922,424,000 | $155,000 | $38,250,000 | $79,000 | $4,039,000 |
| File Closed For Incompleteness | 14,812 | $2,521,302,000 | $170,000 | $5,600,000 | $80,000 | $5,417,000 |
| Preapproval Denied by Financial Institution | 899 | $113,900,000 | $126,000 | $800,000 | $48,000 | $552,000 |
| Preapproval Approved but not Accepted | 10 | $2,329,000 | $232,000 | $900,000 | $134,000 | $483,000 |
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 | 15,716 | $2,448,100,000 | $155,000 | $3,075,000 | $78,000 | $9,720,000 |
| Credit History | 10,953 | $1,452,423,000 | $132,000 | $3,395,000 | $68,000 | $9,999,000 |
| Collateral | 6,906 | $1,137,418,000 | $164,000 | $6,000,000 | $88,000 | $4,140,000 |
| Debt-To-Income Ratio | 5,899 | $841,369,000 | $142,000 | $3,250,000 | $56,000 | $1,212,000 |
| Credit Application Incomplete | 4,072 | $721,954,000 | $177,000 | $5,600,000 | $81,000 | $2,411,000 |
| Unverifiable Information | 2,059 | $383,332,000 | $186,000 | $2,800,000 | $93,000 | $2,976,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 538 | $99,322,000 | $184,000 | $2,800,000 | $74,000 | $1,032,000 |
| Employment History | 500 | $73,391,000 | $146,000 | $3,075,000 | $75,000 | $1,699,000 |
| Mortgage Insurance Denied | 14 | $2,464,000 | $176,000 | $1,000,000 | $80,000 | $216,000 |
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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