Chemung Canal Trust Company Mortgage Lending & HMDA Data, 2019
In 2019, Chemung Canal Trust Company of Elmira, NY reported 767 mortgage applications totaling $171.1 million, down 14% from 2018. The average application was for $223,018, and applicants reported an average income of $101,169. 56% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Elmira, NY (126), Albany-Schenectady-Troy, NY (112) and Binghamton, NY (58) (applications in parentheses).
| Mortgage Company & Address | Chemung Canal Trust Company One Chemung Canal Plaza Elmira, NY 14901 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 767 |
| Total Mortgage Loan Application Amount | $171,055,000 |
| Average Mortgage Loan Application Amount | $223,018 |
| Highest Mortgage Loan Application Amount | $13,005,000 |
| Average Applicant Income | $101,169 |
| Highest Applicant Income | $1,006,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Chemung Canal Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Chemung, New York | 126 | $ 22,850,000 | $ 181,349 | $ 73,000 |
| Albany, New York | 57 | $ 43,675,000 | $ 766,228 | $ 185,000 |
| Bradford, Pennsylvania | 57 | $ 8,695,000 | $ 152,543 | $ 135,000 |
| Cayuga, New York | 51 | $ 5,115,000 | $ 100,294 | $ 75,000 |
| Schuyler, New York | 50 | $ 6,870,000 | $ 137,400 | $ 101,000 |
| Tompkins, New York | 49 | $ 12,475,000 | $ 254,591 | $ 101,000 |
| Steuben, New York | 42 | $ 3,160,000 | $ 75,238 | $ 85,000 |
| Saratoga, New York | 32 | $ 19,220,000 | $ 600,625 | $ 134,000 |
| Tioga, New York | 32 | $ 3,020,000 | $ 94,375 | $ 95,000 |
| Broome, New York | 26 | $ 2,940,000 | $ 113,076 | $ 114,000 |
| Cortland, New York | 18 | $ 1,820,000 | $ 101,111 | $ 79,000 |
| Rensselaer, New York | 12 | $ 8,640,000 | $ 720,000 | $ 111,000 |
| Schenectady, New York | 11 | $ 1,655,000 | $ 150,454 | $ 99,000 |
| Onondaga, New York | 7 | $ 1,445,000 | $ 206,428 | $ 99,000 |
| Washington, New York | 7 | $ 1,585,000 | $ 226,428 | $ 192,000 |
| Tioga, Pennsylvania | 6 | $ 610,000 | $ 101,666 | $ 68,000 |
| Seneca, New York | 5 | $ 445,000 | $ 89,000 | $ 81,000 |
| Fulton, New York | 4 | $ 700,000 | $ 175,000 | $ 141,000 |
| Miami-Dade, Florida | 3 | $ 565,000 | $ 188,333 | $ 488,000 |
| Ontario, New York | 3 | $ 485,000 | $ 161,666 | $ 147,000 |
| Warren, New York | 3 | $ 525,000 | $ 175,000 | $ 162,000 |
| Sullivan, Pennsylvania | 3 | $ 195,000 | $ 65,000 | $ 102,000 |
| Palm Beach, Florida | 2 | $ 380,000 | $ 190,000 | $ 239,000 |
| Chenango, New York | 2 | $ 160,000 | $ 80,000 | $ 83,000 |
| Ulster, New York | 2 | $ 500,000 | $ 250,000 | $ 95,000 |
| Wayne, New York | 2 | $ 130,000 | $ 65,000 | $ 49,000 |
| Yates, New York | 2 | $ 790,000 | $ 395,000 | $ 349,000 |
| Susquehanna, Pennsylvania | 2 | $ 230,000 | $ 115,000 | $ 115,000 |
| Salt Lake, Utah | 2 | $ 760,000 | $ 380,000 | $ 134,000 |
| Baldwin, Alabama | 1 | $ 45,000 | $ 45,000 | $ 24,000 |
| Brevard, Florida | 1 | $ 425,000 | $ 425,000 | $ 981,000 |
| Sarasota, Florida | 1 | $ 125,000 | $ 125,000 | $ 59,000 |
| Erie, New York | 1 | $ 205,000 | $ 205,000 | $ 151,000 |
| Monroe, New York | 1 | $ 115,000 | $ 115,000 | $ 64,000 |
| Rockland, New York | 1 | $ 245,000 | $ 245,000 | $ 145,000 |
| Westchester, New York | 1 | $ 475,000 | $ 475,000 | $ 442,000 |
| Brunswick, North Carolina | 1 | $ 385,000 | $ 385,000 | $ 0 |
| Union, North Carolina | 1 | $ 165,000 | $ 165,000 | $ 57,000 |
| Lehigh, Pennsylvania | 1 | $ 175,000 | $ 175,000 | $ 56,000 |
| Philadelphia, Pennsylvania | 1 | $ 615,000 | $ 615,000 | $ 325,000 |
| Lexington, South Carolina | 1 | $ 125,000 | $ 125,000 | $ 145,000 |
| Teton, Wyoming | 1 | $ 755,000 | $ 755,000 | $ 241,000 |
Mortgage Loan Application Detail Totals for Chemung Canal Trust Company in 2019
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 | 348 | $69,250,000 | $198,000 | $11,805,000 | $91,000 | $709,000 |
| Cash-out Refinancing | 228 | $36,970,000 | $162,000 | $2,585,000 | $121,000 | $1,006,000 |
| Other Purpose | 92 | $5,920,000 | $64,000 | $1,385,000 | $89,000 | $830,000 |
| Refinancing | 70 | $56,960,000 | $813,000 | $13,005,000 | $109,000 | $449,000 |
| Home Improvement | 29 | $1,955,000 | $67,000 | $205,000 | $87,000 | $321,000 |
| Not Applicable | 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 | 614 | $82,260,000 | $133,000 | $2,585,000 | $96,000 | $981,000 |
| Not Provided | 92 | $13,590,000 | $147,000 | $755,000 | $129,000 | $1,006,000 |
| Not applicable | 23 | $69,125,000 | $3,005,000 | $13,005,000 | $0 | $0 |
| Asian | 13 | $3,135,000 | $241,000 | $765,000 | $156,000 | $442,000 |
| Black or African American | 12 | $1,120,000 | $93,000 | $205,000 | $69,000 | $230,000 |
| Hispanic | 9 | $1,065,000 | $118,000 | $205,000 | $97,000 | $160,000 |
| American Indian or Alaskan Native | 4 | $760,000 | $190,000 | $475,000 | $73,000 | $118,000 |
| 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) | 767 | $171,055,000 | $223,000 | $13,005,000 | $101,000 | $1,006,000 |
| 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 | 428 | $126,570,000 | $295,000 | $13,005,000 | $122,000 | $1,006,000 |
| Application Denied By Financial Institution | 111 | $15,055,000 | $135,000 | $1,385,000 | $78,000 | $830,000 |
| Preapproval Approved but not Accepted | 89 | $11,815,000 | $132,000 | $475,000 | $71,000 | $230,000 |
| Application Approved But Not Accepted | 62 | $8,290,000 | $133,000 | $445,000 | $109,000 | $1,006,000 |
| Preapproval Denied by Financial Institution | 54 | $6,260,000 | $115,000 | $435,000 | $44,000 | $149,000 |
| Application Withdrawn By Applicant | 22 | $2,960,000 | $134,000 | $725,000 | $84,000 | $320,000 |
| Loan Purchased By The Institution | 1 | $105,000 | $105,000 | $105,000 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Not applicable | 602 | $149,740,000 | $248,000 | $13,005,000 | $111,000 | $1,006,000 |
| Debt-To-Income Ratio | 75 | $8,075,000 | $107,000 | $465,000 | $46,000 | $147,000 |
| Credit History | 47 | $5,605,000 | $119,000 | $765,000 | $74,000 | $442,000 |
| Other | 22 | $3,740,000 | $170,000 | $615,000 | $71,000 | $325,000 |
| Collateral | 15 | $2,925,000 | $195,000 | $1,385,000 | $154,000 | $830,000 |
| Unverifiable Information | 2 | $640,000 | $320,000 | $435,000 | $30,000 | $60,000 |
| Employment History | 2 | $150,000 | $75,000 | $95,000 | $31,000 | $32,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 |
| Mortgage Insurance Denied | 1 | $155,000 | $155,000 | $155,000 | $52,000 | $52,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Chemung Canal Trust Company's 2019 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 Chemung Canal Trust 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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