B-M S Federal Credit Union Mortgage Lending & HMDA Data, 2018
In 2018, B-M S Federal Credit Union of New Brunswick, NJ reported 30 mortgage applications totaling $4.1 million, up 11% from 2017. The average application was for $137,333, and applicants reported an average income of $172,433. 40% of its applications resulted in an originated loan and 17% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (7), Newark, NJ-PA (7) and Trenton, NJ (7) (applications in parentheses).
| Mortgage Company & Address | B-M S Federal Credit Union 1 Squibb Drive New Brunswick, NJ 08901 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 30 |
| Total Mortgage Loan Application Amount | $4,120,000 |
| Average Mortgage Loan Application Amount | $137,333 |
| Highest Mortgage Loan Application Amount | $365,000 |
| Average Applicant Income | $172,433 |
| Highest Applicant Income | $375,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records B-M S Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 B-M S Federal Credit Union in 2018
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 |
|---|---|---|---|---|---|---|
| Home Improvement | 11 | $735,000 | $66,000 | $155,000 | $193,000 | $328,000 |
| Cash-out Refinancing | 9 | $1,165,000 | $129,000 | $295,000 | $143,000 | $221,000 |
| Home Purchase | 7 | $1,875,000 | $267,000 | $365,000 | $197,000 | $375,000 |
| Refinancing | 3 | $345,000 | $115,000 | $205,000 | $128,000 | $198,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 |
|---|---|---|---|---|---|---|
| White | 20 | $2,570,000 | $128,000 | $335,000 | $188,000 | $375,000 |
| Hispanic | 5 | $915,000 | $183,000 | $365,000 | $159,000 | $319,000 |
| Not Provided | 2 | $210,000 | $105,000 | $105,000 | $190,000 | $300,000 |
| Asian | 1 | $355,000 | $355,000 | $355,000 | $110,000 | $110,000 |
| Black or African American | 1 | $5,000 | $5,000 | $5,000 | $77,000 | $77,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 30 | $4,120,000 | $137,000 | $365,000 | $172,000 | $375,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 12 | $1,100,000 | $91,000 | $295,000 | $177,000 | $328,000 |
| Application Withdrawn By Applicant | 11 | $2,375,000 | $215,000 | $365,000 | $152,000 | $364,000 |
| Application Denied By Financial Institution | 5 | $305,000 | $61,000 | $105,000 | $170,000 | $300,000 |
| File Closed For Incompleteness | 2 | $340,000 | $170,000 | $305,000 | $262,000 | $375,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 30 | $4,120,000 | $137,000 | $365,000 | $172,000 | $375,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into B-M S Federal Credit Union's 2018 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 B-M S Federal Credit Union'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.
For a list of all lenders in New Jersey, download the full spreadsheet
with aggregated HMDA statistics today.
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