1st 2nd Mortgage Company of N.J., Inc. Mortgage Lending & HMDA Data, 2007
In 2007, 1st 2nd Mortgage Company of N.J., Inc. of Cresskill, NJ reported 782 mortgage applications totaling $225.7 million. The average application was for $288,621, and applicants reported an average income of $91,358. 68% of its applications resulted in an originated loan and 13% were denied. Its largest markets were New York-White Plains-Wayne, NY-NJ (296), Newark-Union, NJ-PA (121) and Edison, NJ (112) (applications in parentheses).
| Mortgage Company & Address | 1st 2nd Mortgage Company of N.J., Inc. 50 Spring Street Cresskill, NJ 07626 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 782 |
| Total Mortgage Loan Application Amount | $225,702,000 |
| Average Mortgage Loan Application Amount | $288,621 |
| Highest Mortgage Loan Application Amount | $1,470,000 |
| Average Applicant Income | $91,358 |
| Highest Applicant Income | $951,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records 1st 2nd Mortgage Company of N.J., Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for 1st 2nd Mortgage Company of N.J., Inc. 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 | 428 | $129,108,000 | $301,000 | $1,470,000 | $90,000 | $951,000 |
| Home Purchase | 354 | $96,594,000 | $272,000 | $712,000 | $93,000 | $720,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
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 |
|---|---|---|---|---|---|---|
| Asian | 391 | $119,305,000 | $305,000 | $1,120,000 | $101,000 | $720,000 |
| White | 146 | $44,791,000 | $306,000 | $1,470,000 | $97,000 | $951,000 |
| Hispanic | 132 | $36,470,000 | $276,000 | $712,000 | $77,000 | $249,000 |
| Black or African American | 75 | $18,295,000 | $243,000 | $485,000 | $66,000 | $220,000 |
| Native Hawaiian or Other Pacific Islander | 24 | $3,809,000 | $158,000 | $554,000 | $67,000 | $168,000 |
| Not Provided | 10 | $1,999,000 | $199,000 | $529,000 | $75,000 | $214,000 |
| American Indian or Alaskan Native | 4 | $1,033,000 | $258,000 | $342,000 | $56,000 | $96,000 |
| 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) | 767 | $221,363,000 | $288,000 | $1,470,000 | $91,000 | $951,000 |
| FHA-insured (Federal Housing Administration) | 15 | $4,339,000 | $289,000 | $352,000 | $99,000 | $182,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 534 | $155,255,000 | $290,000 | $1,470,000 | $92,000 | $951,000 |
| Application Withdrawn By Applicant | 125 | $33,894,000 | $271,000 | $928,000 | $89,000 | $432,000 |
| Application Denied By Financial Institution | 103 | $29,860,000 | $289,000 | $684,000 | $89,000 | $720,000 |
| Application Approved But Not Accepted | 19 | $6,068,000 | $319,000 | $743,000 | $104,000 | $348,000 |
| File Closed For Incompleteness | 1 | $625,000 | $625,000 | $625,000 | $181,000 | $181,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 39 | $11,060,000 | $283,000 | $585,000 | $87,000 | $288,000 |
| Debt-To-Income Ratio | 22 | $6,287,000 | $285,000 | $684,000 | $89,000 | $212,000 |
| Collateral | 7 | $1,596,000 | $228,000 | $414,000 | $73,000 | $132,000 |
| Credit History | 6 | $2,253,000 | $375,000 | $485,000 | $32,000 | $88,000 |
| Employment History | 5 | $1,578,000 | $315,000 | $534,000 | $87,000 | $240,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $962,000 | $192,000 | $314,000 | $75,000 | $249,000 |
| Unverifiable Information | 4 | $1,277,000 | $319,000 | $500,000 | $244,000 | $720,000 |
| Credit Application Incomplete | 3 | $980,000 | $326,000 | $533,000 | $86,000 | $148,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into 1st 2nd Mortgage Company of N.J., Inc.'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 1st 2nd Mortgage Company of N.J., Inc.'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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