B-M S Federal Credit Union Mortgage Lending & HMDA Data, 2017
In 2017, B-M S Federal Credit Union of New Brunswick, NJ reported 27 mortgage applications totaling $3.6 million, down 31% from 2016. The average application was for $134,074, and applicants reported an average income of $138,074. 56% of its applications resulted in an originated loan and 30% were denied. Its largest markets were Trenton, NJ (8), Newark, NJ-PA (7) and Montgomery County-Bucks County-Chester County, PA (4) (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 | 27 |
| Total Mortgage Loan Application Amount | $3,620,000 |
| Average Mortgage Loan Application Amount | $134,074 |
| Highest Mortgage Loan Application Amount | $313,000 |
| Average Applicant Income | $138,074 |
| Highest Applicant Income | $303,000 |
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records B-M S Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Mercer, New Jersey | 8 | $ 1,202,000 | $ 150,250 | $ 146,000 |
| Somerset, New Jersey | 5 | $ 1,021,000 | $ 204,200 | $ 135,000 |
| Burlington, New Jersey | 2 | $ 140,000 | $ 70,000 | $ 76,000 |
| Bucks, Pennsylvania | 2 | $ 309,000 | $ 154,500 | $ 173,000 |
| Montgomery, Pennsylvania | 2 | $ 365,000 | $ 182,500 | $ 135,000 |
| Shasta, California | 1 | $ 60,000 | $ 60,000 | $ 203,000 |
| Hillsborough, Florida | 1 | $ 20,000 | $ 20,000 | $ 66,000 |
| Essex, New Jersey | 1 | $ 60,000 | $ 60,000 | $ 85,000 |
| Middlesex, New Jersey | 1 | $ 50,000 | $ 50,000 | $ 191,000 |
| Ocean, New Jersey | 1 | $ 75,000 | $ 75,000 | $ 195,000 |
| Union, New Jersey | 1 | $ 90,000 | $ 90,000 | $ 128,000 |
| Oneida, New York | 1 | $ 119,000 | $ 119,000 | $ 121,000 |
| Waushara, Wisconsin | 1 | $ 109,000 | $ 109,000 | $ 135,000 |
Mortgage Loan Application Detail Totals for B-M S Federal Credit Union in 2017
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 | 11 | $1,614,000 | $146,000 | $313,000 | $129,000 | $203,000 |
| Home Improvement | 9 | $752,000 | $83,000 | $200,000 | $185,000 | $303,000 |
| Home Purchase | 7 | $1,254,000 | $179,000 | $290,000 | $92,000 | $140,000 |
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 | 13 | $1,614,000 | $124,000 | $287,000 | $126,000 | $253,000 |
| Not Provided | 7 | $1,180,000 | $168,000 | $313,000 | $159,000 | $290,000 |
| Black or African American | 5 | $476,000 | $95,000 | $275,000 | $153,000 | $303,000 |
| Hispanic | 2 | $350,000 | $175,000 | $290,000 | $105,000 | $126,000 |
| 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 |
| Asian | 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) | 27 | $3,620,000 | $134,000 | $313,000 | $138,000 | $303,000 |
| 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 | 15 | $1,735,000 | $115,000 | $290,000 | $146,000 | $303,000 |
| Application Denied By Financial Institution | 8 | $1,080,000 | $135,000 | $287,000 | $100,000 | $195,000 |
| Application Withdrawn By Applicant | 3 | $605,000 | $201,000 | $313,000 | $153,000 | $191,000 |
| File Closed For Incompleteness | 1 | $200,000 | $200,000 | $200,000 | $290,000 | $290,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 4 | $558,000 | $139,000 | $263,000 | $86,000 | $128,000 |
| Credit History | 2 | $135,000 | $67,000 | $75,000 | $140,000 | $195,000 |
| Debt-To-Income Ratio | 2 | $387,000 | $193,000 | $287,000 | $87,000 | $130,000 |
| 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 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into B-M S Federal Credit Union's 2017 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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