B-M S Federal Credit Union Mortgage Lending & HMDA Data, 2004
In 2004, B-M S Federal Credit Union of New Brunswick, NJ reported 36 mortgage applications totaling $4.5 million, up 6% from 2003. The average application was for $126,277, and applicants reported an average income of $105,361. 69% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Edison, NJ (9), Philadelphia, PA (8) and Trenton-Ewing, NJ (6) (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 | 36 |
| Total Mortgage Loan Application Amount | $4,546,000 |
| Average Mortgage Loan Application Amount | $126,277 |
| Highest Mortgage Loan Application Amount | $400,000 |
| Average Applicant Income | $105,361 |
| Highest Applicant Income | $212,000 |
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records B-M S Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Edison, NJ | 9 | $ 1,372,000 | $ 152,444 | $ 127,000 |
| Philadelphia, PA | 8 | $ 684,000 | $ 85,500 | $ 111,000 |
| Trenton-Ewing, NJ | 6 | $ 818,000 | $ 136,333 | $ 95,000 |
| Syracuse, NY | 3 | $ 115,000 | $ 38,333 | $ 74,000 |
| Newark-Union, NJ-PA | 2 | $ 300,000 | $ 150,000 | $ 109,000 |
| Bridgeport-Stamford-Norwalk, CT | 1 | $ 200,000 | $ 200,000 | $ 67,000 |
| Camden, NJ | 1 | $ 235,000 | $ 235,000 | $ 80,000 |
| Indianapolis, IN | 1 | $ 75,000 | $ 75,000 | $ 126,000 |
| New Haven-Milford, CT | 1 | $ 282,000 | $ 282,000 | $ 150,000 |
| Norwich-New London, CT | 1 | $ 35,000 | $ 35,000 | $ 139,000 |
| Port St. Lucie-Fort Pierce, FL | 1 | $ 80,000 | $ 80,000 | $ 64,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 210,000 | $ 210,000 | $ 78,000 |
Mortgage Loan Application Detail Totals for B-M S Federal Credit Union 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 |
|---|---|---|---|---|---|---|
| Home Improvement | 16 | $510,000 | $38,200 | $75,000 | $116,000 | $174,000 |
| Home Purchase | 11 | $1,869,000 | $148,000 | $291,000 | $72,666 | $169,000 |
| Refinancing | 9 | $2,167,000 | $270,750 | $400,000 | $132,250 | $212,000 |
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 | 33 | $3,873,000 | $95,285 | $400,000 | $105,142 | $212,000 |
| Asian | 1 | $191,000 | $191,000 | $191,000 | $101,000 | $101,000 |
| Black or African American | 1 | $282,000 | $282,000 | $282,000 | $150,000 | $150,000 |
| Hispanic | 1 | $200,000 | $200,000 | $200,000 | $67,000 | $67,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 36 | $4,546,000 | $115,142 | $400,000 | $102,142 | $212,000 |
| 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 | 25 | $3,516,000 | $116,000 | $400,000 | $91,750 | $212,000 |
| Application Denied By Financial Institution | 7 | $720,000 | $83,200 | $282,000 | $102,600 | $150,000 |
| Application Withdrawn By Applicant | 4 | $310,000 | $93,333 | $200,000 | $87,000 | $163,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 2 | $110,000 | $55,000 | $75,000 | $132,500 | $139,000 |
| Credit History | 1 | $210,000 | $210,000 | $210,000 | $78,000 | $78,000 |
| Debt-To-Income Ratio | 1 | $25,000 | $25,000 | $25,000 | $109,000 | $109,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 2004 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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