Cardinal Financial Company Mortgage Lending & HMDA Data, 2008
In 2008, Cardinal Financial Company of Warminster, PA reported 4,762 mortgage applications totaling $951.4 million, down 9% from 2007. The average application was for $199,785, and applicants reported an average income of $72,477. 60% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Philadelphia, PA (1,199), Washington-Arlington-Alexandria, DC-VA-MD-WV (568) and Baltimore-Towson, MD (473) (applications in parentheses).
| Mortgage Company & Address | Cardinal Financial Company 444 Jacksonville Road Warminster, PA 18974 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 4,762 |
| Total Mortgage Loan Application Amount | $951,379,000 |
| Average Mortgage Loan Application Amount | $199,785 |
| Highest Mortgage Loan Application Amount | $1,536,000 |
| Average Applicant Income | $72,477 |
| Highest Applicant Income | $976,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cardinal Financial Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Philadelphia, PA | 1,199 | $ 212,027,000 | $ 176,836 | $ 77,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 568 | $ 167,821,000 | $ 295,459 | $ 82,720 |
| Baltimore-Towson, MD | 473 | $ 110,853,000 | $ 234,361 | $ 66,000 |
| Camden, NJ | 258 | $ 46,835,000 | $ 181,531 | $ 86,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 203 | $ 34,065,000 | $ 167,807 | $ 75,453 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 160 | $ 32,801,000 | $ 205,006 | $ 59,000 |
| Wilmington, DE-MD-NJ | 147 | $ 30,373,000 | $ 206,619 | $ 68,115 |
| Harrisburg-Carlisle, PA | 144 | $ 21,020,000 | $ 145,972 | $ 59,000 |
| Lancaster, PA | 131 | $ 19,981,000 | $ 152,526 | $ 63,000 |
| Scranton--Wilkes-Barre, PA | 99 | $ 11,774,000 | $ 118,929 | $ 48,000 |
| Bethesda-Frederick-Gaithersburg, MD | 74 | $ 22,787,000 | $ 307,932 | $ 87,000 |
| York-Hanover, PA | 72 | $ 12,284,000 | $ 170,611 | $ 58,000 |
| Edison-New Brunswick, NJ | 68 | $ 16,257,000 | $ 239,073 | $ 102,000 |
| Atlantic City-Hammonton, NJ | 67 | $ 16,561,000 | $ 247,179 | $ 89,000 |
| Charleston, WV | 59 | $ 7,351,000 | $ 124,593 | $ 54,000 |
| Richmond, VA | 46 | $ 8,983,000 | $ 195,282 | $ 61,000 |
| Reading, PA | 45 | $ 6,907,000 | $ 153,488 | $ 69,000 |
| Hartford-West Hartford-East Hartford, CT | 41 | $ 7,923,000 | $ 193,243 | $ 69,000 |
| Ocean City, NJ | 38 | $ 9,914,000 | $ 260,894 | $ 160,000 |
| Hagerstown-Martinsburg, MD-WV | 33 | $ 7,132,000 | $ 216,121 | $ 60,727 |
| Indianapolis-Carmel, IN | 28 | $ 4,345,000 | $ 155,178 | $ 66,000 |
| Newark-Union, NJ-PA | 27 | $ 7,213,000 | $ 267,148 | $ 97,000 |
| Cleveland-Elyria-Mentor, OH | 24 | $ 3,526,000 | $ 146,916 | $ 54,000 |
| Memphis, TN-MS-AR | 24 | $ 3,258,000 | $ 135,750 | $ 64,000 |
| New York-White Plains-Wayne, NY-NJ | 24 | $ 7,123,000 | $ 296,791 | $ 85,000 |
| Pittsburgh, PA | 24 | $ 3,234,000 | $ 134,750 | $ 56,000 |
| Dover, DE | 21 | $ 4,565,000 | $ 217,380 | $ 72,000 |
| Vineland-Millville-Bridgeton, NJ | 20 | $ 3,265,000 | $ 163,250 | $ 69,000 |
| Atlanta-Sandy Springs-Marietta, GA | 16 | $ 2,383,000 | $ 148,937 | $ 51,000 |
| Lafayette, IN | 15 | $ 1,593,000 | $ 106,200 | $ 48,000 |
| Salisbury, MD | 14 | $ 2,711,000 | $ 193,642 | $ 45,000 |
| Warren-Troy-Farmington Hills, MI | 14 | $ 2,043,000 | $ 145,928 | $ 44,000 |
| Huntington-Ashland, WV-KY-OH | 13 | $ 1,358,000 | $ 104,461 | $ 42,538 |
| Lebanon, PA | 13 | $ 2,156,000 | $ 165,846 | $ 74,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 13 | $ 2,415,000 | $ 185,769 | $ 66,000 |
| Port St. Lucie, FL | 13 | $ 2,325,000 | $ 178,846 | $ 65,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 12 | $ 2,411,000 | $ 200,916 | $ 69,000 |
| Raleigh-Cary, NC | 11 | $ 1,832,000 | $ 166,545 | $ 79,000 |
| Colorado Springs, CO | 10 | $ 2,458,000 | $ 245,800 | $ 70,000 |
| Columbus, OH | 10 | $ 1,485,000 | $ 148,500 | $ 64,000 |
| Detroit-Livonia-Dearborn, MI | 10 | $ 1,583,000 | $ 158,300 | $ 55,000 |
| Bridgeport-Stamford-Norwalk, CT | 9 | $ 2,445,000 | $ 271,666 | $ 81,000 |
| Jacksonville, FL | 9 | $ 1,489,000 | $ 165,444 | $ 36,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 9 | $ 1,510,000 | $ 167,777 | $ 92,000 |
| Tampa-St. Petersburg-Clearwater, FL | 9 | $ 1,614,000 | $ 179,333 | $ 45,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 8 | $ 1,504,000 | $ 188,000 | $ 58,000 |
| Akron, OH | 7 | $ 1,051,000 | $ 150,142 | $ 56,000 |
| Denver-Aurora, CO | 7 | $ 1,375,000 | $ 196,428 | $ 90,000 |
| Trenton-Ewing, NJ | 7 | $ 1,817,000 | $ 259,571 | $ 116,000 |
| Charlotte-Gastonia-Concord, NC-SC | 6 | $ 748,000 | $ 124,666 | $ 47,000 |
| Cincinnati-Middletown, OH-KY-IN | 6 | $ 730,000 | $ 121,666 | $ 55,333 |
| Miami-Miami Beach-Kendall, FL | 6 | $ 1,521,000 | $ 253,500 | $ 66,000 |
| New Haven-Milford, CT | 6 | $ 1,111,000 | $ 185,166 | $ 67,000 |
| Orlando-Kissimmee, FL | 6 | $ 1,308,000 | $ 218,000 | $ 90,000 |
| Roanoke, VA | 6 | $ 1,080,000 | $ 180,000 | $ 48,000 |
| Valdosta, GA | 6 | $ 770,000 | $ 128,333 | $ 47,000 |
| Columbia, SC | 5 | $ 733,000 | $ 146,600 | $ 37,000 |
| Charleston-North Charleston-Summerville, SC | 4 | $ 681,000 | $ 170,250 | $ 21,000 |
| Chattanooga, TN-GA | 4 | $ 657,000 | $ 164,250 | $ 68,000 |
| Columbus, IN | 4 | $ 464,000 | $ 116,000 | $ 50,000 |
| Winchester, VA-WV | 4 | $ 822,000 | $ 205,500 | $ 69,250 |
| Youngstown-Warren-Boardman, OH-PA | 4 | $ 348,000 | $ 87,000 | $ 46,000 |
| Ann Arbor, MI | 3 | $ 501,000 | $ 167,000 | $ 63,000 |
| Greensboro-High Point, NC | 3 | $ 339,000 | $ 113,000 | $ 83,000 |
| Harrisonburg, VA | 3 | $ 593,000 | $ 197,666 | $ 59,000 |
| Knoxville, TN | 3 | $ 496,000 | $ 165,333 | $ 60,000 |
| Palm Bay-Melbourne-Titusville, FL | 3 | $ 541,000 | $ 180,333 | $ 111,000 |
| Palm Coast, FL | 3 | $ 629,000 | $ 209,666 | $ 64,000 |
| Tallahassee, FL | 3 | $ 429,000 | $ 143,000 | $ 66,000 |
| Winston-Salem, NC | 3 | $ 288,000 | $ 96,000 | $ 42,000 |
| Albany, GA | 2 | $ 269,000 | $ 134,500 | $ 35,000 |
| Bradenton-Sarasota-Venice, FL | 2 | $ 616,000 | $ 308,000 | $ 53,000 |
| Cape Coral-Fort Myers, FL | 2 | $ 522,000 | $ 261,000 | $ 229,000 |
| Cumberland, MD-WV | 2 | $ 226,000 | $ 113,000 | $ 46,000 |
| Fayetteville, NC | 2 | $ 275,000 | $ 137,500 | $ 46,000 |
| Flint, MI | 2 | $ 305,000 | $ 152,500 | $ 0 |
| Greenville, NC | 2 | $ 256,000 | $ 128,000 | $ 12,000 |
| Johnson City, TN | 2 | $ 273,000 | $ 136,500 | $ 33,000 |
| Johnstown, PA | 2 | $ 261,000 | $ 130,500 | $ 60,000 |
| Lynchburg, VA | 2 | $ 350,000 | $ 175,000 | $ 52,000 |
| Norwich-New London, CT | 2 | $ 451,000 | $ 225,500 | $ 69,000 |
| State College, PA | 2 | $ 268,000 | $ 134,000 | $ 103,000 |
| Altoona, PA | 1 | $ 155,000 | $ 155,000 | $ 74,000 |
| Anderson, IN | 1 | $ 118,000 | $ 118,000 | $ 46,000 |
| Asheville, NC | 1 | $ 135,000 | $ 135,000 | $ 50,000 |
| Augusta-Richmond County, GA-SC | 1 | $ 171,000 | $ 171,000 | $ 0 |
| Cambridge-Newton-Framingham, MA | 1 | $ 330,000 | $ 330,000 | $ 52,000 |
| Charlottesville, VA | 1 | $ 384,000 | $ 384,000 | $ 107,000 |
| Clarksville, TN-KY | 1 | $ 122,000 | $ 122,000 | $ 33,000 |
| Cleveland, TN | 1 | $ 188,000 | $ 188,000 | $ 51,000 |
| Dayton, OH | 1 | $ 136,000 | $ 136,000 | $ 55,000 |
| Durham, NC | 1 | $ 104,000 | $ 104,000 | $ 48,000 |
| Elkhart-Goshen, IN | 1 | $ 170,000 | $ 170,000 | $ 48,000 |
| Erie, PA | 1 | $ 126,000 | $ 126,000 | $ 36,000 |
| Goldsboro, NC | 1 | $ 151,000 | $ 151,000 | $ 85,000 |
| Greenville-Mauldin-Easley, SC | 1 | $ 222,000 | $ 222,000 | $ 0 |
| Jackson, MI | 1 | $ 203,000 | $ 203,000 | $ 0 |
| Jackson, TN | 1 | $ 88,000 | $ 88,000 | $ 26,000 |
| Kalamazoo-Portage, MI | 1 | $ 113,000 | $ 113,000 | $ 0 |
| Kokomo, IN | 1 | $ 193,000 | $ 193,000 | $ 112,000 |
| Lima, OH | 1 | $ 174,000 | $ 174,000 | $ 60,000 |
| Morgantown, WV | 1 | $ 76,000 | $ 76,000 | $ 48,000 |
| Morristown, TN | 1 | $ 152,000 | $ 152,000 | $ 26,000 |
| Myrtle Beach-North Myrtle Beach-Conway, SC | 1 | $ 305,000 | $ 305,000 | $ 234,000 |
| Panama City-Lynn Haven, FL | 1 | $ 171,000 | $ 171,000 | $ 61,000 |
| Sandusky, OH | 1 | $ 253,000 | $ 253,000 | $ 78,000 |
| Sebastian-Vero Beach, FL | 1 | $ 126,000 | $ 126,000 | $ 36,000 |
| South Bend-Mishawaka, IN-MI | 1 | $ 55,000 | $ 55,000 | $ 51,000 |
| Spartanburg, SC | 1 | $ 164,000 | $ 164,000 | $ 0 |
| St. Cloud, MN | 1 | $ 123,000 | $ 123,000 | $ 74,000 |
| Terre Haute, IN | 1 | $ 39,000 | $ 39,000 | $ 38,000 |
| Williamsport, PA | 1 | $ 180,000 | $ 180,000 | $ 79,000 |
| Wilmington, NC | 1 | $ 120,000 | $ 120,000 | $ 48,000 |
Mortgage Loan Application Detail Totals for Cardinal Financial Company in 2008
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 | 2,486 | $514,671,000 | $207,000 | $920,000 | $72,000 | $976,000 |
| Home Purchase | 2,276 | $436,708,000 | $191,000 | $1,536,000 | $73,000 | $704,000 |
| 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 | 2,987 | $576,354,000 | $192,000 | $1,536,000 | $76,000 | $976,000 |
| Black or African American | 1,154 | $248,378,000 | $215,000 | $750,000 | $65,000 | $335,000 |
| Not Provided | 314 | $65,368,000 | $208,000 | $741,000 | $78,000 | $641,000 |
| Hispanic | 219 | $41,046,000 | $187,000 | $475,000 | $58,000 | $300,000 |
| Asian | 71 | $17,002,000 | $239,000 | $729,000 | $94,000 | $704,000 |
| Native Hawaiian or Other Pacific Islander | 12 | $2,288,000 | $190,000 | $301,000 | $98,000 | $384,000 |
| American Indian or Alaskan Native | 5 | $943,000 | $188,000 | $249,000 | $49,000 | $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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 2,537 | $521,853,000 | $205,000 | $741,000 | $61,000 | $584,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 2,004 | $378,298,000 | $188,000 | $1,536,000 | $88,000 | $976,000 |
| VA-guaranteed (Veterans Administration) | 221 | $51,228,000 | $231,000 | $453,000 | $60,000 | $203,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 2,873 | $551,225,000 | $191,000 | $1,536,000 | $72,000 | $976,000 |
| Application Denied By Financial Institution | 1,019 | $224,949,000 | $220,000 | $920,000 | $71,000 | $641,000 |
| Application Withdrawn By Applicant | 562 | $112,653,000 | $200,000 | $740,000 | $75,000 | $480,000 |
| Application Approved But Not Accepted | 308 | $62,552,000 | $203,000 | $741,000 | $78,000 | $581,000 |
| 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 | 140 | $34,280,000 | $244,000 | $840,000 | $69,000 | $584,000 |
| Other | 132 | $25,931,000 | $196,000 | $544,000 | $65,000 | $641,000 |
| Collateral | 100 | $22,841,000 | $228,000 | $850,000 | $79,000 | $303,000 |
| Credit History | 99 | $20,511,000 | $207,000 | $451,000 | $65,000 | $195,000 |
| Unverifiable Information | 19 | $5,513,000 | $290,000 | $694,000 | $93,000 | $253,000 |
| Employment History | 11 | $1,874,000 | $170,000 | $337,000 | $60,000 | $111,000 |
| Mortgage Insurance Denied | 4 | $1,248,000 | $312,000 | $475,000 | $30,000 | $122,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $349,000 | $116,000 | $194,000 | $53,000 | $82,000 |
| Credit Application Incomplete | 1 | $166,000 | $166,000 | $166,000 | $78,000 | $78,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cardinal Financial Company's 2008 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 Cardinal Financial Company'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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