Charles Schwab Bank Mortgage Lending & HMDA Data, 2008
In 2008, Charles Schwab Bank of San Francisco, CA reported 21,520 mortgage applications totaling $6.9 billion, up 136% from 2007. The average application was for $319,433, and applicants reported an average income of $171,049. 46% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (819), Oakland-Fremont-Hayward, CA (804) and San Francisco-San Mateo-Redwood City, CA (754) (applications in parentheses).
| Mortgage Company & Address | Charles Schwab Bank 211 Main Street San Francisco, CA 94105 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 21,520 |
| Total Mortgage Loan Application Amount | $6,874,199,000 |
| Average Mortgage Loan Application Amount | $319,433 |
| Highest Mortgage Loan Application Amount | $6,450,000 |
| Average Applicant Income | $171,049 |
| Highest Applicant Income | $9,000,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Charles Schwab Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Charles Schwab Bank 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 | 13,421 | $4,186,335,000 | $311,000 | $6,450,000 | $165,000 | $6,000,000 |
| Home Purchase | 7,724 | $2,554,524,000 | $330,000 | $5,000,000 | $182,000 | $9,000,000 |
| Home Improvement | 375 | $133,340,000 | $355,000 | $5,500,000 | $162,000 | $3,268,000 |
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 | 14,534 | $4,567,761,000 | $314,000 | $6,450,000 | $170,000 | $9,000,000 |
| Not Provided | 4,640 | $1,520,446,000 | $327,000 | $4,940,000 | $177,000 | $6,000,000 |
| Asian | 1,384 | $498,951,000 | $360,000 | $3,500,000 | $174,000 | $2,859,000 |
| Hispanic | 564 | $173,957,000 | $308,000 | $2,469,000 | $159,000 | $6,000,000 |
| Black or African American | 268 | $71,395,000 | $266,000 | $1,334,000 | $150,000 | $1,329,000 |
| American Indian or Alaskan Native | 82 | $25,465,000 | $310,000 | $3,205,000 | $133,000 | $870,000 |
| Native Hawaiian or Other Pacific Islander | 48 | $16,224,000 | $338,000 | $1,640,000 | $138,000 | $490,000 |
| 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) | 21,520 | $6,874,199,000 | $319,000 | $6,450,000 | $171,000 | $9,000,000 |
| 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 | 9,941 | $3,071,351,000 | $308,000 | $5,000,000 | $172,000 | $9,000,000 |
| Application Approved But Not Accepted | 7,196 | $2,207,240,000 | $306,000 | $6,450,000 | $175,000 | $7,847,000 |
| Application Denied By Financial Institution | 2,221 | $918,043,000 | $413,000 | $4,940,000 | $163,000 | $4,798,000 |
| Preapproval Approved but not Accepted | 1,256 | $349,881,000 | $278,000 | $1,000,000 | $144,000 | $5,640,000 |
| Application Withdrawn By Applicant | 779 | $292,766,000 | $375,000 | $5,500,000 | $198,000 | $6,000,000 |
| File Closed For Incompleteness | 54 | $18,101,000 | $335,000 | $1,021,000 | $195,000 | $2,042,000 |
| Loan Purchased By The Institution | 45 | $7,924,000 | $176,000 | $303,000 | $49,000 | $315,000 |
| Preapproval Denied by Financial Institution | 28 | $8,893,000 | $317,000 | $668,000 | $146,000 | $800,000 |
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 | 865 | $420,159,000 | $485,000 | $4,940,000 | $111,000 | $2,300,000 |
| Collateral | 841 | $289,173,000 | $343,000 | $3,600,000 | $196,000 | $4,798,000 |
| Other | 199 | $79,632,000 | $400,000 | $2,000,000 | $204,000 | $1,580,000 |
| Credit History | 140 | $48,186,000 | $344,000 | $1,460,000 | $180,000 | $2,796,000 |
| Credit Application Incomplete | 115 | $55,315,000 | $481,000 | $2,400,000 | $218,000 | $1,374,000 |
| Unverifiable Information | 43 | $20,572,000 | $478,000 | $2,800,000 | $220,000 | $1,000,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 27 | $7,547,000 | $279,000 | $1,250,000 | $136,000 | $577,000 |
| Employment History | 17 | $5,727,000 | $336,000 | $730,000 | $132,000 | $575,000 |
| Mortgage Insurance Denied | 2 | $625,000 | $312,000 | $396,000 | $89,000 | $96,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Charles Schwab Bank'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 Charles Schwab Bank'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 California, download the full spreadsheet
with aggregated HMDA statistics today.
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