B-M S Federal Credit Union Mortgage Lending & HMDA Data, 2010
In 2010, B-M S Federal Credit Union of New Brunswick, NJ reported 41 mortgage applications totaling $6.6 million, down 20% from 2009. The average application was for $160,780, and applicants reported an average income of $141,780. 59% of its applications resulted in an originated loan and 20% were denied. Its largest markets were Edison-New Brunswick, NJ (16), Philadelphia, PA (6) and Trenton-Ewing, NJ (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 | 41 |
| Total Mortgage Loan Application Amount | $6,592,000 |
| Average Mortgage Loan Application Amount | $160,780 |
| Highest Mortgage Loan Application Amount | $391,000 |
| Average Applicant Income | $141,780 |
| Highest Applicant Income | $325,000 |
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records B-M S Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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-New Brunswick, NJ | 16 | $ 2,210,000 | $ 138,125 | $ 122,000 |
| Philadelphia, PA | 6 | $ 1,319,000 | $ 219,833 | $ 136,000 |
| Trenton-Ewing, NJ | 4 | $ 643,000 | $ 160,750 | $ 179,000 |
| New Haven-Milford, CT | 3 | $ 474,000 | $ 158,000 | $ 126,000 |
| Newark-Union, NJ-PA | 3 | $ 590,000 | $ 196,666 | $ 133,000 |
| Hartford-West Hartford-East Hartford, CT | 2 | $ 347,000 | $ 173,500 | $ 192,000 |
| Springfield, MO | 2 | $ 45,000 | $ 22,500 | $ 51,000 |
| Camden, NJ | 1 | $ 246,000 | $ 246,000 | $ 145,000 |
| Orlando-Kissimmee-Sanford, FL | 1 | $ 117,000 | $ 117,000 | $ 174,000 |
| Salt Lake City, UT | 1 | $ 191,000 | $ 191,000 | $ 253,000 |
Mortgage Loan Application Detail Totals for B-M S Federal Credit Union in 2010
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 | 26 | $5,344,000 | $205,000 | $391,000 | $152,000 | $325,000 |
| Home Improvement | 11 | $392,000 | $35,000 | $100,000 | $95,000 | $181,000 |
| Home Purchase | 4 | $856,000 | $214,000 | $270,000 | $204,000 | $304,000 |
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 | 27 | $3,755,000 | $139,000 | $316,000 | $120,000 | $325,000 |
| Not Provided | 6 | $1,200,000 | $200,000 | $391,000 | $180,000 | $283,000 |
| Asian | 5 | $1,240,000 | $248,000 | $365,000 | $190,000 | $270,000 |
| Black or African American | 2 | $280,000 | $140,000 | $270,000 | $184,000 | $304,000 |
| Hispanic | 1 | $117,000 | $117,000 | $117,000 | $174,000 | $174,000 |
| 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) | 41 | $6,592,000 | $160,000 | $391,000 | $142,000 | $325,000 |
| 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 | 24 | $3,838,000 | $159,000 | $391,000 | $134,000 | $283,000 |
| Application Denied By Financial Institution | 8 | $983,000 | $122,000 | $316,000 | $98,000 | $213,000 |
| Application Withdrawn By Applicant | 8 | $1,601,000 | $200,000 | $270,000 | $188,000 | $304,000 |
| Application Approved But Not Accepted | 1 | $170,000 | $170,000 | $170,000 | $325,000 | $325,000 |
| File Closed For Incompleteness | 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 | 5 | $410,000 | $82,000 | $267,000 | $68,000 | $97,000 |
| Collateral | 1 | $117,000 | $117,000 | $117,000 | $174,000 | $174,000 |
| Credit History | 1 | $140,000 | $140,000 | $140,000 | $213,000 | $213,000 |
| Unverifiable Information | 1 | $316,000 | $316,000 | $316,000 | $60,000 | $60,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into B-M S Federal Credit Union's 2010 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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