Spring Bank Mortgage Lending & HMDA Data, 2014
In 2014, Spring Bank of Bronx, NY reported 7 mortgage applications totaling $3.1 million. The average application was for $448,714, and applicants reported an average income of $0. 43% of its applications resulted in an originated loan and 57% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (6) and Nassau County-Suffolk County, NY (1).
| Mortgage Company & Address | Spring Bank 69 East 167th Street Bronx, NY 10452 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2011 |
| Total Number of Mortgage Applications | 7 |
| Total Mortgage Loan Application Amount | $3,141,000 |
| Average Mortgage Loan Application Amount | $448,714 |
| Highest Mortgage Loan Application Amount | $1,122,000 |
| Average Applicant Income | $0 |
| Highest Applicant Income | $0 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Spring Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| 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 | 3 | $ 2,066,000 | $ 688,666 | $ 0 |
| Bronx, New York | 1 | $ 300,000 | $ 300,000 | $ 0 |
| Nassau, New York | 1 | $ 86,000 | $ 86,000 | $ 0 |
| New York, New York | 1 | $ 300,000 | $ 300,000 | $ 0 |
| Westchester, New York | 1 | $ 389,000 | $ 389,000 | $ 0 |
Mortgage Loan Application Detail Totals for Spring Bank in 2014
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 | 4 | $1,169,000 | $292,000 | $394,000 | $0 | $0 |
| Refinancing | 2 | $1,672,000 | $836,000 | $1,122,000 | $0 | $0 |
| Home Improvement | 1 | $300,000 | $300,000 | $300,000 | $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 |
|---|---|---|---|---|---|---|
| Not applicable | 6 | $2,752,000 | $458,000 | $1,122,000 | $0 | $0 |
| Not Provided | 1 | $389,000 | $389,000 | $389,000 | $0 | $0 |
| White | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 7 | $3,141,000 | $448,000 | $1,122,000 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 4 | $1,633,000 | $408,000 | $550,000 | $0 | $0 |
| Loan Originated | 3 | $1,508,000 | $502,000 | $1,122,000 | $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 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $850,000 | $425,000 | $550,000 | $0 | $0 |
| Collateral | 1 | $394,000 | $394,000 | $394,000 | $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 |
| 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 Spring Bank's 2014 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 Spring 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 New York, download the full spreadsheet
with aggregated HMDA statistics today.
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