Chesco Financial Services, LLC Mortgage Lending & HMDA Data, 2009
In 2009, Chesco Financial Services, LLC of Exton, PA reported 140 mortgage applications totaling $34.2 million, up 75% from 2008. The average application was for $244,350, and applicants reported an average income of $115,642. 70% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Philadelphia, PA (121), Reading, PA (5) and Lancaster, PA (4) (applications in parentheses).
| Mortgage Company & Address | Chesco Financial Services, LLC 557 W. Uwchlan Ave Suite 110 Exton, PA 19341 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 |
| Total Number of Mortgage Applications | 140 |
| Total Mortgage Loan Application Amount | $34,209,000 |
| Average Mortgage Loan Application Amount | $244,350 |
| Highest Mortgage Loan Application Amount | $420,000 |
| Average Applicant Income | $115,642 |
| Highest Applicant Income | $500,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Chesco Financial Services, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 121 | $ 29,130,000 | $ 240,743 | $ 116,000 |
| Reading, PA | 5 | $ 1,053,000 | $ 210,600 | $ 109,000 |
| Lancaster, PA | 4 | $ 1,243,000 | $ 310,750 | $ 71,000 |
| Pittsburgh, PA | 3 | $ 737,000 | $ 245,666 | $ 124,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 1 | $ 273,000 | $ 273,000 | $ 95,000 |
| Camden, NJ | 1 | $ 322,000 | $ 322,000 | $ 105,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 103,000 | $ 103,000 | $ 49,000 |
| Myrtle Beach-North Myrtle Beach-Conway, SC | 1 | $ 200,000 | $ 200,000 | $ 106,000 |
| Newark-Union, NJ-PA | 1 | $ 340,000 | $ 340,000 | $ 141,000 |
| Wilmington, DE-MD-NJ | 1 | $ 391,000 | $ 391,000 | $ 278,000 |
Mortgage Loan Application Detail Totals for Chesco Financial Services, LLC in 2009
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 | 90 | $20,756,000 | $230,000 | $417,000 | $111,000 | $319,000 |
| Home Purchase | 50 | $13,453,000 | $269,000 | $420,000 | $124,000 | $500,000 |
| 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 | 135 | $33,118,000 | $245,000 | $420,000 | $117,000 | $500,000 |
| Black or African American | 5 | $1,091,000 | $218,000 | $272,000 | $76,000 | $105,000 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 118 | $28,336,000 | $240,000 | $417,000 | $119,000 | $500,000 |
| FHA-insured (Federal Housing Administration) | 20 | $5,340,000 | $267,000 | $420,000 | $98,000 | $225,000 |
| VA-guaranteed (Veterans Administration) | 2 | $533,000 | $266,000 | $271,000 | $90,000 | $125,000 |
| 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 | 98 | $24,072,000 | $245,000 | $420,000 | $117,000 | $500,000 |
| Application Denied By Financial Institution | 22 | $5,767,000 | $262,000 | $417,000 | $112,000 | $283,000 |
| Application Approved But Not Accepted | 15 | $3,539,000 | $235,000 | $393,000 | $126,000 | $291,000 |
| Application Withdrawn By Applicant | 4 | $622,000 | $155,000 | $228,000 | $81,000 | $147,000 |
| File Closed For Incompleteness | 1 | $209,000 | $209,000 | $209,000 | $54,000 | $54,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit Application Incomplete | 16 | $4,071,000 | $254,000 | $417,000 | $119,000 | $283,000 |
| Debt-To-Income Ratio | 2 | $689,000 | $344,000 | $417,000 | $76,000 | $87,000 |
| Credit History | 1 | $224,000 | $224,000 | $224,000 | $87,000 | $87,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $300,000 | $300,000 | $300,000 | $168,000 | $168,000 |
| Other | 1 | $323,000 | $323,000 | $323,000 | $123,000 | $123,000 |
| Collateral | 1 | $160,000 | $160,000 | $160,000 | $34,000 | $34,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Chesco Financial Services, LLC's 2009 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 Chesco Financial Services, LLC'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 Pennsylvania, download the full spreadsheet
with aggregated HMDA statistics today.
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