Berkshire Financial Group Mortgage Lending & HMDA Data, 2005
In 2005, Berkshire Financial Group of Staten Island, NY reported 2,615 mortgage applications totaling $731.1 million, down 20% from 2004. The average application was for $279,570, and applicants reported an average income of $91,811. 57% of its applications resulted in an originated loan and 3% were denied. Its largest markets were New York-Wayne-White Plains, NY-NJ (1,351), Nassau-Suffolk, NY (286) and Edison, NJ (180) (applications in parentheses).
| Mortgage Company & Address | Berkshire Financial Group 585 N. Gannon Avenue Staten Island, NY 10314 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 2003 |
| Total Number of Mortgage Applications | 2,615 |
| Total Mortgage Loan Application Amount | $731,077,000 |
| Average Mortgage Loan Application Amount | $279,570 |
| Highest Mortgage Loan Application Amount | $3,000,000 |
| Average Applicant Income | $91,811 |
| Highest Applicant Income | $1,560,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Berkshire Financial Group filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Kings, New York | 563 | $ 178,524,000 | $ 317,094 | $ 92,000 |
| Queens, New York | 378 | $ 116,703,000 | $ 308,738 | $ 87,000 |
| Richmond, New York | 280 | $ 75,548,000 | $ 269,814 | $ 94,000 |
| Suffolk, New York | 152 | $ 45,353,000 | $ 298,375 | $ 89,000 |
| Nassau, New York | 134 | $ 39,337,000 | $ 293,559 | $ 111,000 |
| Middlesex, New Jersey | 81 | $ 20,784,000 | $ 256,592 | $ 121,000 |
| Essex, New Jersey | 73 | $ 17,115,000 | $ 234,452 | $ 90,000 |
| Bronx, New York | 68 | $ 19,403,000 | $ 285,338 | $ 73,000 |
| Monmouth, New Jersey | 58 | $ 18,452,000 | $ 318,137 | $ 162,000 |
| Union, New Jersey | 53 | $ 11,960,000 | $ 225,660 | $ 87,000 |
| Broward, Florida | 51 | $ 9,602,000 | $ 188,274 | $ 93,000 |
| Bergen, New Jersey | 51 | $ 18,553,000 | $ 363,784 | $ 135,000 |
| Miami-Dade, Florida | 41 | $ 9,478,000 | $ 231,170 | $ 111,000 |
| Hudson, New Jersey | 34 | $ 8,868,000 | $ 260,823 | $ 91,000 |
| Orange, New York | 32 | $ 7,319,000 | $ 228,718 | $ 91,000 |
| Westchester, New York | 30 | $ 13,229,000 | $ 440,966 | $ 112,000 |
| Palm Beach, Florida | 27 | $ 6,438,000 | $ 238,444 | $ 102,000 |
| Ocean, New Jersey | 24 | $ 5,541,000 | $ 230,875 | $ 109,000 |
| Passaic, New Jersey | 22 | $ 5,720,000 | $ 260,000 | $ 91,000 |
| Mercer, New Jersey | 21 | $ 2,797,000 | $ 133,190 | $ 84,000 |
| Monroe, Pennsylvania | 21 | $ 2,981,000 | $ 141,952 | $ 64,000 |
| Rockland, New York | 19 | $ 5,754,000 | $ 302,842 | $ 74,000 |
| New Haven, Connecticut | 17 | $ 3,806,000 | $ 223,882 | $ 77,000 |
| Somerset, New Jersey | 17 | $ 4,656,000 | $ 273,882 | $ 92,000 |
| Los Angeles, California | 16 | $ 4,922,000 | $ 307,625 | $ 208,000 |
| Fairfield, Connecticut | 16 | $ 4,195,000 | $ 262,187 | $ 109,000 |
| Morris, New Jersey | 14 | $ 3,809,000 | $ 272,071 | $ 100,000 |
| Philadelphia, Pennsylvania | 13 | $ 1,603,000 | $ 123,307 | $ 38,000 |
| Prince George's, Maryland | 12 | $ 3,440,000 | $ 286,666 | $ 79,000 |
| Orange, Florida | 11 | $ 2,089,000 | $ 189,909 | $ 109,000 |
| St. Lucie, Florida | 10 | $ 2,411,000 | $ 241,100 | $ 99,000 |
| Atlantic, New Jersey | 10 | $ 2,110,000 | $ 211,000 | $ 76,000 |
| New York, New York | 10 | $ 4,541,000 | $ 454,100 | $ 160,000 |
| Burlington, New Jersey | 9 | $ 1,427,000 | $ 158,555 | $ 64,000 |
| Hartford, Connecticut | 8 | $ 1,130,000 | $ 141,250 | $ 70,000 |
| Flagler, Florida | 8 | $ 1,553,000 | $ 194,125 | $ 103,000 |
| Montgomery, Maryland | 8 | $ 2,742,000 | $ 342,750 | $ 120,000 |
| Pike, Pennsylvania | 8 | $ 1,782,000 | $ 222,750 | $ 80,000 |
| Collier, Florida | 7 | $ 1,391,000 | $ 198,714 | $ 52,000 |
| Windham, Connecticut | 6 | $ 1,174,000 | $ 195,666 | $ 56,000 |
| Baltimore City, Maryland | 6 | $ 779,000 | $ 129,833 | $ 120,000 |
| Camden, New Jersey | 6 | $ 958,000 | $ 159,666 | $ 69,000 |
| Sussex, New Jersey | 6 | $ 1,724,000 | $ 287,333 | $ 346,000 |
| New London, Connecticut | 5 | $ 1,136,000 | $ 227,200 | $ 74,000 |
| Osceola, Florida | 5 | $ 998,000 | $ 199,600 | $ 98,000 |
| Pasco, Florida | 5 | $ 1,022,000 | $ 204,400 | $ 88,000 |
| Baltimore, Maryland | 5 | $ 930,000 | $ 186,000 | $ 99,000 |
| Warren, New Jersey | 5 | $ 1,481,000 | $ 296,200 | $ 121,000 |
| Sullivan, New York | 5 | $ 846,000 | $ 169,200 | $ 91,000 |
| Berks, Pennsylvania | 5 | $ 781,000 | $ 156,200 | $ 92,000 |
| Middlesex, Connecticut | 4 | $ 566,000 | $ 141,500 | $ 56,000 |
| Duval, Florida | 4 | $ 555,000 | $ 138,750 | $ 16,000 |
| Lee, Florida | 4 | $ 1,074,000 | $ 268,500 | $ 81,000 |
| Manatee, Florida | 4 | $ 1,249,000 | $ 312,250 | $ 158,000 |
| Cook, Illinois | 4 | $ 729,000 | $ 182,250 | $ 111,000 |
| Dutchess, New York | 4 | $ 1,207,000 | $ 301,750 | $ 80,000 |
| Northampton, Pennsylvania | 4 | $ 743,000 | $ 185,750 | $ 52,000 |
| Charlotte, Florida | 3 | $ 587,000 | $ 195,666 | $ 46,000 |
| Sarasota, Florida | 3 | $ 456,000 | $ 152,000 | $ 228,000 |
| Cape May, New Jersey | 3 | $ 1,420,000 | $ 473,333 | $ 40,000 |
| Cumberland, New Jersey | 3 | $ 309,000 | $ 103,000 | $ 37,000 |
| Gloucester, New Jersey | 3 | $ 948,000 | $ 316,000 | $ 106,000 |
| Delaware, New York | 3 | $ 389,000 | $ 129,666 | $ 84,000 |
| Erie, New York | 3 | $ 523,000 | $ 174,333 | $ 80,000 |
| Putnam, New York | 3 | $ 638,000 | $ 212,666 | $ 79,000 |
| Lehigh, Pennsylvania | 3 | $ 427,000 | $ 142,333 | $ 85,000 |
| Luzerne, Pennsylvania | 3 | $ 191,000 | $ 63,666 | $ 87,000 |
| San Diego, California | 2 | $ 219,000 | $ 109,500 | $ 81,000 |
| Tolland, Connecticut | 2 | $ 1,608,000 | $ 804,000 | $ 67,000 |
| St. Johns, Florida | 2 | $ 533,000 | $ 266,500 | $ 0 |
| Cobb, Georgia | 2 | $ 191,000 | $ 95,500 | $ 95,000 |
| DeKalb, Georgia | 2 | $ 259,000 | $ 129,500 | $ 85,000 |
| Anne Arundel, Maryland | 2 | $ 1,144,000 | $ 572,000 | $ 191,000 |
| Harford, Maryland | 2 | $ 491,000 | $ 245,500 | $ 91,000 |
| Howard, Maryland | 2 | $ 414,000 | $ 207,000 | $ 90,000 |
| Genesee, Michigan | 2 | $ 176,000 | $ 88,000 | $ 32,000 |
| Greene, New York | 2 | $ 307,000 | $ 153,500 | $ 155,000 |
| Monroe, New York | 2 | $ 159,000 | $ 79,500 | $ 61,000 |
| Oneida, New York | 2 | $ 106,000 | $ 53,000 | $ 50,000 |
| Saratoga, New York | 2 | $ 210,000 | $ 105,000 | $ 100,000 |
| Ulster, New York | 2 | $ 307,000 | $ 153,500 | $ 64,000 |
| Washington, New York | 2 | $ 398,000 | $ 199,000 | $ 63,000 |
| Allegheny, Pennsylvania | 2 | $ 341,000 | $ 170,500 | $ 87,000 |
| Lackawanna, Pennsylvania | 2 | $ 115,000 | $ 57,500 | $ 64,000 |
| Wayne, Pennsylvania | 2 | $ 273,000 | $ 136,500 | $ 153,000 |
| Alameda, California | 1 | $ 79,000 | $ 79,000 | $ 83,000 |
| Contra Costa, California | 1 | $ 313,000 | $ 313,000 | $ 108,000 |
| Kern, California | 1 | $ 200,000 | $ 200,000 | $ 0 |
| Sacramento, California | 1 | $ 300,000 | $ 300,000 | $ 82,000 |
| Sonoma, California | 1 | $ 2,975,000 | $ 2,975,000 | $ 377,000 |
| Brevard, Florida | 1 | $ 304,000 | $ 304,000 | $ 137,000 |
| Citrus, Florida | 1 | $ 82,000 | $ 82,000 | $ 36,000 |
| Hillsborough, Florida | 1 | $ 132,000 | $ 132,000 | $ 50,000 |
| Lake, Florida | 1 | $ 252,000 | $ 252,000 | $ 116,000 |
| Marion, Florida | 1 | $ 64,000 | $ 64,000 | $ 34,000 |
| Polk, Florida | 1 | $ 115,000 | $ 115,000 | $ 106,000 |
| Volusia, Florida | 1 | $ 625,000 | $ 625,000 | $ 567,000 |
| Clayton, Georgia | 1 | $ 137,000 | $ 137,000 | $ 103,000 |
| Gwinnett, Georgia | 1 | $ 221,000 | $ 221,000 | $ 93,000 |
| Newton, Georgia | 1 | $ 146,000 | $ 146,000 | $ 36,000 |
| Madison, Illinois | 1 | $ 179,000 | $ 179,000 | $ 0 |
| Vanderburgh, Indiana | 1 | $ 112,000 | $ 112,000 | $ 73,000 |
| Carroll, Maryland | 1 | $ 266,000 | $ 266,000 | $ 204,000 |
| Charles, Maryland | 1 | $ 266,000 | $ 266,000 | $ 62,000 |
| Kent, Maryland | 1 | $ 200,000 | $ 200,000 | $ 70,000 |
| Queen Anne's, Maryland | 1 | $ 189,000 | $ 189,000 | $ 50,000 |
| St. Mary's, Maryland | 1 | $ 208,000 | $ 208,000 | $ 50,000 |
| Wicomico, Maryland | 1 | $ 103,000 | $ 103,000 | $ 72,000 |
| Middlesex, Massachusetts | 1 | $ 504,000 | $ 504,000 | $ 274,000 |
| Norfolk, Massachusetts | 1 | $ 200,000 | $ 200,000 | $ 170,000 |
| Suffolk, Massachusetts | 1 | $ 406,000 | $ 406,000 | $ 140,000 |
| Kent, Michigan | 1 | $ 86,000 | $ 86,000 | $ 52,000 |
| Midland, Michigan | 1 | $ 83,000 | $ 83,000 | $ 77,000 |
| Oakland, Michigan | 1 | $ 464,000 | $ 464,000 | $ 480,000 |
| Hunterdon, New Jersey | 1 | $ 186,000 | $ 186,000 | $ 50,000 |
| Broome, New York | 1 | $ 69,000 | $ 69,000 | $ 48,000 |
| Chenango, New York | 1 | $ 98,000 | $ 98,000 | $ 74,000 |
| Columbia, New York | 1 | $ 114,000 | $ 114,000 | $ 76,000 |
| Essex, New York | 1 | $ 112,000 | $ 112,000 | $ 75,000 |
| Herkimer, New York | 1 | $ 138,000 | $ 138,000 | $ 0 |
| Livingston, New York | 1 | $ 173,000 | $ 173,000 | $ 0 |
| Montgomery, New York | 1 | $ 158,000 | $ 158,000 | $ 34,000 |
| Schuyler, New York | 1 | $ 90,000 | $ 90,000 | $ 77,000 |
| Centre, Pennsylvania | 1 | $ 214,000 | $ 214,000 | $ 102,000 |
| Chester, Pennsylvania | 1 | $ 135,000 | $ 135,000 | $ 64,000 |
| Dauphin, Pennsylvania | 1 | $ 73,000 | $ 73,000 | $ 54,000 |
| Fayette, Pennsylvania | 1 | $ 185,000 | $ 185,000 | $ 69,000 |
| Franklin, Pennsylvania | 1 | $ 168,000 | $ 168,000 | $ 80,000 |
| Lawrence, Pennsylvania | 1 | $ 132,000 | $ 132,000 | $ 72,000 |
| Lebanon, Pennsylvania | 1 | $ 77,000 | $ 77,000 | $ 28,000 |
| Montgomery, Pennsylvania | 1 | $ 166,000 | $ 166,000 | $ 84,000 |
| Northumberland, Pennsylvania | 1 | $ 66,000 | $ 66,000 | $ 14,000 |
| Tioga, Pennsylvania | 1 | $ 55,000 | $ 55,000 | $ 34,000 |
| Washington, Pennsylvania | 1 | $ 182,000 | $ 182,000 | $ 57,000 |
| Westmoreland, Pennsylvania | 1 | $ 104,000 | $ 104,000 | $ 68,000 |
| York, Pennsylvania | 1 | $ 228,000 | $ 228,000 | $ 96,000 |
| Norfolk, Virginia | 1 | $ 128,000 | $ 128,000 | $ 62,000 |
| La Crosse, Wisconsin | 1 | $ 70,000 | $ 70,000 | $ 109,000 |
Mortgage Loan Application Detail Totals for Berkshire Financial Group in 2005
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 | 1,880 | $533,386,000 | $229,750 | $3,000,000 | $99,083 | $1,560,000 |
| Home Purchase | 734 | $197,379,000 | $221,571 | $1,120,000 | $106,785 | $1,200,000 |
| Home Improvement | 1 | $312,000 | $312,000 | $312,000 | $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 | 1,373 | $402,579,000 | $239,857 | $3,000,000 | $97,142 | $1,200,000 |
| Black or African American | 622 | $164,849,000 | $198,800 | $731,000 | $72,400 | $523,000 |
| Hispanic | 387 | $103,719,000 | $249,625 | $780,000 | $131,000 | $480,000 |
| Not Provided | 122 | $29,395,000 | $216,375 | $675,000 | $96,250 | $540,000 |
| Asian | 93 | $25,733,000 | $200,714 | $669,000 | $297,285 | $1,560,000 |
| American Indian or Alaskan Native | 9 | $2,827,000 | $301,750 | $536,000 | $81,000 | $145,000 |
| Native Hawaiian or Other Pacific Islander | 9 | $1,975,000 | $130,000 | $376,000 | $79,500 | $110,000 |
| 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) | 2,607 | $729,182,000 | $224,000 | $3,000,000 | $103,866 | $1,560,000 |
| FHA-insured (Federal Housing Administration) | 8 | $1,895,000 | $230,666 | $317,000 | $48,666 | $92,000 |
| 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 | 1,489 | $421,331,000 | $223,636 | $1,963,000 | $83,181 | $1,087,000 |
| Application Withdrawn By Applicant | 799 | $217,392,000 | $250,142 | $2,975,000 | $123,714 | $1,560,000 |
| Application Approved But Not Accepted | 251 | $73,452,000 | $213,250 | $3,000,000 | $90,000 | $871,000 |
| Application Denied By Financial Institution | 76 | $18,902,000 | $230,833 | $663,000 | $79,333 | $242,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Berkshire Financial Group's 2005 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 Berkshire Financial Group'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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