Colonial Mortgage Service Company of America Mortgage Lending & HMDA Data, 2022
In 2022, Colonial Mortgage Service Company of America of Montgomeryville, PA reported 28 mortgage applications totaling $8.6 million, down 89% from 2021. The average application was for $307,857, and applicants reported an average income of $10,523. 64% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Montgomery County-Bucks County-Chester County, PA (8), New York-Newark, NY (3) and Philadelphia, PA (2) (applications in parentheses).
| Mortgage Company & Address | Colonial Mortgage Service Company of America 418 Stump Road Suite 100 Montgomeryville, PA 18936 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2022 2021 2020 2019 2018 2017 |
| Total Number of Mortgage Applications | 28 |
| Total Mortgage Loan Application Amount | $8,620,000 |
| Average Mortgage Loan Application Amount | $307,857 |
| Highest Mortgage Loan Application Amount | $615,000 |
| Average Applicant Income | $10,523 |
| Highest Applicant Income | $29,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Colonial Mortgage Service Company of America filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Montgomery County-Bucks County-Chester County, PA | 8 | $ 3,360,000 | $ 420,000 | $ 14,000 |
| New York-Newark, NY | 3 | $ 755,000 | $ 251,666 | $ 12,000 |
| Philadelphia, PA | 2 | $ 590,000 | $ 295,000 | $ 11,000 |
| Atlantic City-Hammonton, NJ | 1 | $ 285,000 | $ 285,000 | $ 15,000 |
| Baltimore-Columbia-Towson, MD | 1 | $ 385,000 | $ 385,000 | $ 9,000 |
| Chambersburg-Waynesboro, PA | 1 | $ 285,000 | $ 285,000 | $ 7,000 |
| Harrisonburg, VA | 1 | $ 225,000 | $ 225,000 | $ 4,000 |
| Homosassa Springs, FL | 1 | $ 225,000 | $ 225,000 | $ 0 |
| Jacksonville, FL | 1 | $ 205,000 | $ 205,000 | $ 0 |
| Lancaster, PA | 1 | $ 145,000 | $ 145,000 | $ 0 |
| Orlando-Kissimmee-Sanford, FL | 1 | $ 155,000 | $ 155,000 | $ 0 |
| Palm Bay-Melbourne-Titusville, FL | 1 | $ 265,000 | $ 265,000 | $ 7,000 |
| Raleigh, NC | 1 | $ 375,000 | $ 375,000 | $ 0 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 305,000 | $ 305,000 | $ 0 |
| Sacramento--Roseville--Arden-Arcade, CA | 1 | $ 265,000 | $ 265,000 | $ 0 |
Mortgage Loan Application Detail Totals for Colonial Mortgage Service Company of America in 2022
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 | 16 | $5,440,000 | $340,000 | $615,000 | $11,000 | $29,000 |
| Refinancing | 7 | $1,895,000 | $270,000 | $495,000 | $0 | $0 |
| Cash-out Refinancing | 5 | $1,285,000 | $257,000 | $375,000 | $9,000 | $9,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | 20 | $6,160,000 | $308,000 | $615,000 | $11,000 | $29,000 |
| Asian | 4 | $1,390,000 | $347,000 | $385,000 | $9,000 | $12,000 |
| Hispanic | 2 | $560,000 | $280,000 | $295,000 | $7,000 | $7,000 |
| Not Provided | 2 | $510,000 | $255,000 | $265,000 | $13,000 | $13,000 |
| American Indian or Alaskan Native | 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 |
| Black or African American | 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) | 28 | $8,620,000 | $307,000 | $615,000 | $11,000 | $29,000 |
| 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 | 18 | $5,900,000 | $327,000 | $615,000 | $11,000 | $29,000 |
| Application Approved But Not Accepted | 9 | $2,595,000 | $288,000 | $385,000 | $7,000 | $9,000 |
| Application Denied By Financial Institution | 1 | $125,000 | $125,000 | $125,000 | $12,000 | $12,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 27 | $8,495,000 | $314,000 | $615,000 | $11,000 | $29,000 |
| Debt-To-Income Ratio | 1 | $125,000 | $125,000 | $125,000 | $12,000 | $12,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Colonial Mortgage Service Company of America's 2022 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 Colonial Mortgage Service Company of America'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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with aggregated HMDA statistics today.
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