Bay Financial Savings Bank,Fsb Mortgage Lending & HMDA Data, 2004
In 2004, Bay Financial Savings Bank,Fsb of Tampa, FL reported 398 mortgage applications totaling $95.9 million, up 160% from 2003. The average application was for $240,992, and applicants reported an average income of $101,758. 22% of its applications resulted in an originated loan and 30% were denied. Its largest markets were Tampa-St. Petersburg-Clearwater, FL (190) and Lakeland, FL (2).
| Mortgage Company & Address | Bay Financial Savings Bank,Fsb 5537 Sheldon Road Tampa, FL 33615 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2004 2003 |
| Total Number of Mortgage Applications | 398 |
| Total Mortgage Loan Application Amount | $95,915,000 |
| Average Mortgage Loan Application Amount | $240,992 |
| Highest Mortgage Loan Application Amount | $2,625,000 |
| Average Applicant Income | $101,758 |
| Highest Applicant Income | $2,137,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bay Financial Savings Bank,Fsb filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Bay Financial Savings Bank,Fsb 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 Purchase | 230 | $54,226,000 | $271,000 | $2,625,000 | $92,000 | $2,000,000 |
| Refinancing | 168 | $41,689,000 | $245,000 | $2,000,000 | $108,500 | $2,137,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 286 | $76,251,000 | $297,500 | $2,625,000 | $132,000 | $2,137,000 |
| Not Provided | 39 | $8,187,000 | $184,500 | $800,000 | $80,500 | $876,000 |
| Hispanic | 34 | $5,836,000 | $162,000 | $1,680,000 | $70,000 | $1,000,000 |
| Black or African American | 28 | $3,870,000 | $134,500 | $584,000 | $48,500 | $238,000 |
| Asian | 8 | $1,199,000 | $193,000 | $524,000 | $61,000 | $185,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $429,000 | $214,000 | $291,000 | $139,000 | $232,000 |
| American Indian or Alaskan Native | 1 | $143,000 | $143,000 | $143,000 | $70,000 | $70,000 |
| 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) | 388 | $94,757,000 | $260,000 | $2,625,000 | $101,000 | $2,137,000 |
| FHA-insured (Federal Housing Administration) | 9 | $893,000 | $104,000 | $147,000 | $37,000 | $75,000 |
| VA-guaranteed (Veterans Administration) | 1 | $265,000 | $265,000 | $265,000 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 |
|---|---|---|---|---|---|---|
| Application Approved But Not Accepted | 156 | $36,260,000 | $219,500 | $1,750,000 | $96,000 | $1,000,000 |
| Application Denied By Financial Institution | 118 | $24,794,000 | $178,500 | $2,000,000 | $89,000 | $2,137,000 |
| Loan Originated | 86 | $28,451,000 | $355,500 | $2,625,000 | $117,500 | $2,000,000 |
| Application Withdrawn By Applicant | 38 | $6,410,000 | $180,000 | $1,225,000 | $64,500 | $374,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 52 | $7,975,000 | $128,000 | $1,200,000 | $39,500 | $283,000 |
| Debt-To-Income Ratio | 19 | $2,205,000 | $113,500 | $252,000 | $39,500 | $180,000 |
| Other | 12 | $3,343,000 | $278,000 | $760,000 | $164,000 | $467,000 |
| Collateral | 11 | $5,034,000 | $337,000 | $2,000,000 | $48,500 | $321,000 |
| Credit Application Incomplete | 9 | $2,430,000 | $285,500 | $780,000 | $97,000 | $175,000 |
| Employment History | 7 | $1,291,000 | $164,500 | $531,000 | $202,500 | $563,000 |
| Unverifiable Information | 5 | $1,709,000 | $341,000 | $1,100,000 | $407,000 | $2,137,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $807,000 | $269,000 | $525,000 | $500,000 | $1,428,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Bay Financial Savings Bank,Fsb'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 Bay Financial Savings Bank,Fsb'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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