Commerce Bank, NA Mortgage Lending & HMDA Data, 2008

In 2008, Commerce Bank, NA of Cherry Hill, NJ reported 10,877 mortgage applications totaling $1.2 billion, down 67% from 2007. The average application was for $112,952, and applicants reported an average income of $99,718. 43% of its applications resulted in an originated loan and 42% were denied. Its largest markets were Philadelphia, PA (2,128), Camden, NJ (2,010) and New York-White Plains-Wayne, NY-NJ (1,771) (applications in parentheses).

Mortgage Company & Address Commerce Bank, NA
2059 Spingdale Road
Cherry Hill, NJ 08003
Tel #: available with data download
Federal Regulator * available with data download
Years 2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 10,877
Total Mortgage Loan Application Amount $1,228,589,000
Average Mortgage Loan Application Amount $112,952
Highest Mortgage Loan Application Amount $30,000,000
Average Applicant Income $99,718
Highest Applicant Income $4,776,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Commerce Bank, NA filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Totals for Commerce Bank, NA by County in 2008

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loans Applications Average Mortgage Loan Application Amount Average Applicant Income
Camden, New Jersey 909 $ 58,549,000 $ 64,410 $ 82,000
Ocean, New Jersey 816 $ 88,599,000 $ 108,577 $ 89,000
Philadelphia, Pennsylvania 785 $ 62,183,000 $ 79,214 $ 63,000
Gloucester, New Jersey 586 $ 42,709,000 $ 72,882 $ 93,000
Burlington, New Jersey 515 $ 46,101,000 $ 89,516 $ 104,000
Montgomery, Pennsylvania 416 $ 42,612,000 $ 102,432 $ 104,000
Delaware, Pennsylvania 393 $ 26,583,000 $ 67,641 $ 79,000
Bergen, New Jersey 388 $ 63,817,000 $ 164,476 $ 126,000
Bucks, Pennsylvania 383 $ 34,096,000 $ 89,023 $ 117,000
Monmouth, New Jersey 376 $ 50,406,000 $ 134,058 $ 116,000
Atlantic, New Jersey 367 $ 29,019,000 $ 79,070 $ 80,000
Suffolk, New York 367 $ 81,365,000 $ 221,702 $ 123,000
Nassau, New York 353 $ 45,250,000 $ 128,186 $ 119,000
Queens, New York 323 $ 44,355,000 $ 137,321 $ 88,000
New Castle, Delaware 249 $ 14,130,000 $ 56,746 $ 78,000
Richmond, New York 243 $ 26,659,000 $ 109,707 $ 100,000
Middlesex, New Jersey 240 $ 26,213,000 $ 109,220 $ 91,000
Kings, New York 211 $ 34,631,000 $ 164,127 $ 106,000
Morris, New Jersey 191 $ 27,809,000 $ 145,596 $ 129,000
Union, New Jersey 152 $ 24,051,000 $ 158,230 $ 115,000
Chester, Pennsylvania 151 $ 16,266,000 $ 107,721 $ 106,000
Passaic, New Jersey 146 $ 15,495,000 $ 106,130 $ 91,000
Essex, New Jersey 144 $ 20,499,000 $ 142,354 $ 102,000
Mercer, New Jersey 142 $ 12,502,000 $ 88,042 $ 95,000
Somerset, New Jersey 134 $ 14,227,000 $ 106,171 $ 100,000
New York, New York 128 $ 55,774,000 $ 435,734 $ 189,000
Cape May, New Jersey 120 $ 20,090,000 $ 167,416 $ 174,000
Cumberland, New Jersey 116 $ 5,954,000 $ 51,327 $ 66,000
Westchester, New York 109 $ 19,321,000 $ 177,256 $ 170,000
Palm Beach, Florida 88 $ 14,981,000 $ 170,238 $ 128,000
Bronx, New York 77 $ 5,228,000 $ 67,896 $ 71,000
Hudson, New Jersey 76 $ 12,501,000 $ 164,486 $ 115,000
Hunterdon, New Jersey 75 $ 7,457,000 $ 99,426 $ 115,000
Rockland, New York 61 $ 9,042,000 $ 148,229 $ 135,000
Lehigh, Pennsylvania 60 $ 3,913,000 $ 65,216 $ 76,000
Kent, Delaware 59 $ 3,235,000 $ 54,830 $ 58,000
Fairfield, Connecticut 45 $ 11,315,000 $ 251,444 $ 164,000
Broward, Florida 44 $ 8,290,000 $ 188,409 $ 174,000
Sussex, New Jersey 38 $ 4,323,000 $ 113,763 $ 88,000
Northampton, Pennsylvania 35 $ 2,816,000 $ 80,457 $ 88,000
Orange, New York 32 $ 3,181,000 $ 99,406 $ 97,000
Berks, Pennsylvania 32 $ 2,916,000 $ 91,125 $ 57,000
Salem, New Jersey 31 $ 8,579,000 $ 276,741 $ 84,000
Fairfax, Virginia 28 $ 6,996,000 $ 249,857 $ 232,000
Prince William, Virginia 26 $ 1,695,000 $ 65,192 $ 74,000
Warren, New Jersey 23 $ 1,236,000 $ 53,739 $ 90,000
Montgomery, Maryland 20 $ 1,780,000 $ 89,000 $ 99,000
District of Columbia, District Of Columbia 19 $ 3,723,000 $ 195,947 $ 145,000
Miami-Dade, Florida 19 $ 5,799,000 $ 305,210 $ 259,000
New Haven, Connecticut 18 $ 1,446,000 $ 80,333 $ 96,000
Monroe, Pennsylvania 12 $ 840,000 $ 70,000 $ 99,000
Prince George's, Maryland 11 $ 470,000 $ 42,727 $ 117,000
Loudoun, Virginia 11 $ 2,632,000 $ 239,272 $ 223,000
Carbon, Pennsylvania 10 $ 1,188,000 $ 118,800 $ 129,000
Sussex, Delaware 9 $ 1,444,000 $ 160,444 $ 179,000
Putnam, New York 9 $ 697,000 $ 77,444 $ 115,000
Lancaster, Pennsylvania 9 $ 579,000 $ 64,333 $ 101,000
Pike, Pennsylvania 9 $ 1,111,000 $ 123,444 $ 123,000
Luzerne, Pennsylvania 8 $ 214,000 $ 26,750 $ 55,000
Alexandria, Virginia 7 $ 1,436,000 $ 205,142 $ 130,000
Dutchess, New York 6 $ 791,000 $ 131,833 $ 84,000
Anne Arundel, Maryland 5 $ 518,000 $ 103,600 $ 99,000
Cecil, Maryland 5 $ 342,000 $ 68,400 $ 84,000
Worcester, Maryland 5 $ 668,000 $ 133,600 $ 86,000
Sullivan, New York 5 $ 465,000 $ 93,000 $ 112,000
Ulster, New York 5 $ 742,000 $ 148,400 $ 92,000
Brevard, Florida 4 $ 695,000 $ 173,750 $ 108,000
Martin, Florida 4 $ 466,000 $ 116,500 $ 107,000
Osceola, Florida 4 $ 630,000 $ 157,500 $ 152,000
Pinellas, Florida 4 $ 572,000 $ 143,000 $ 329,000
York, Pennsylvania 4 $ 410,000 $ 102,500 $ 55,000
Arlington, Virginia 4 $ 561,000 $ 140,250 $ 74,000
Flagler, Florida 3 $ 650,000 $ 216,666 $ 121,000
Lee, Florida 3 $ 383,000 $ 127,666 $ 133,000
Orange, Florida 3 $ 584,000 $ 194,666 $ 116,000
Volusia, Florida 3 $ 395,000 $ 131,666 $ 62,000
Baltimore, Maryland 3 $ 132,000 $ 44,000 $ 68,000
Frederick, Maryland 3 $ 20,000 $ 6,666 $ 76,000
Worcester, Massachusetts 3 $ 144,000 $ 48,000 $ 77,000
Monroe, New York 3 $ 127,000 $ 42,333 $ 101,000
Schuylkill, Pennsylvania 3 $ 453,000 $ 151,000 $ 83,000
Wayne, Pennsylvania 3 $ 96,000 $ 32,000 $ 79,000
Manassas, Virginia 3 $ 236,000 $ 78,666 $ 39,000
Middlesex, Connecticut 2 $ 80,000 $ 40,000 $ 96,000
Citrus, Florida 2 $ 505,000 $ 252,500 $ 80,000
Duval, Florida 2 $ 318,000 $ 159,000 $ 129,000
Sarasota, Florida 2 $ 183,000 $ 91,500 $ 44,000
St. Johns, Florida 2 $ 101,000 $ 50,500 $ 46,000
Delaware, New York 2 $ 100,000 $ 50,000 $ 39,000
Greene, New York 2 $ 320,000 $ 160,000 $ 162,000
Hamilton, New York 2 $ 110,000 $ 55,000 $ 54,000
Mecklenburg, North Carolina 2 $ 62,000 $ 31,000 $ 144,000
Adams, Pennsylvania 2 $ 149,000 $ 74,500 $ 35,000
Clearfield, Pennsylvania 2 $ 90,000 $ 45,000 $ 91,000
Lackawanna, Pennsylvania 2 $ 68,000 $ 34,000 $ 46,000
Susquehanna, Pennsylvania 2 $ 324,000 $ 162,000 $ 503,000
Stafford, Virginia 2 $ 128,000 $ 64,000 $ 57,000
Virginia Beach, Virginia 2 $ 500,000 $ 250,000 $ 637,000
Maricopa, Arizona 1 $ 10,000 $ 10,000 $ 55,000
Imperial, California 1 $ 1,000 $ 1,000 $ 55,000
San Mateo, California 1 $ 415,000 $ 415,000 $ 225,000
Stanislaus, California 1 $ 65,000 $ 65,000 $ 140,000
Boulder, Colorado 1 $ 5,000 $ 5,000 $ 12,000
Hartford, Connecticut 1 $ 99,000 $ 99,000 $ 145,000
New London, Connecticut 1 $ 28,000 $ 28,000 $ 117,000
Charlotte, Florida 1 $ 280,000 $ 280,000 $ 250,000
Collier, Florida 1 $ 125,000 $ 125,000 $ 176,000
Hernando, Florida 1 $ 60,000 $ 60,000 $ 72,000
Hillsborough, Florida 1 $ 650,000 $ 650,000 $ 500,000
Indian River, Florida 1 $ 257,000 $ 257,000 $ 234,000
Lake, Florida 1 $ 155,000 $ 155,000 $ 96,000
Manatee, Florida 1 $ 120,000 $ 120,000 $ 78,000
Monroe, Florida 1 $ 15,000 $ 15,000 $ 53,000
Pasco, Florida 1 $ 15,000 $ 15,000 $ 8,000
Polk, Florida 1 $ 30,000 $ 30,000 $ 93,000
St. Lucie, Florida 1 $ 95,000 $ 95,000 $ 85,000
Sumter, Florida 1 $ 247,000 $ 247,000 $ 177,000
Fayette, Georgia 1 $ 522,000 $ 522,000 $ 157,000
Fulton, Georgia 1 $ 100,000 $ 100,000 $ 76,000
Gwinnett, Georgia 1 $ 5,000 $ 5,000 $ 48,000
Cook, Illinois 1 $ 105,000 $ 105,000 $ 150,000
Shelby, Indiana 1 $ 270,000 $ 270,000 $ 65,000
Johnson, Kansas 1 $ 35,000 $ 35,000 $ 109,000
Kearny, Kansas 1 $ 15,000 $ 15,000 $ 42,000
Hancock, Maine 1 $ 1,000 $ 1,000 $ 45,000
York, Maine 1 $ 352,000 $ 352,000 $ 166,000
Baltimore City, Maryland 1 $ 4,000 $ 4,000 $ 36,000
Harford, Maryland 1 $ 70,000 $ 70,000 $ 87,000
Howard, Maryland 1 $ 776,000 $ 776,000 $ 242,000
Kent, Maryland 1 $ 417,000 $ 417,000 $ 600,000
Talbot, Maryland 1 $ 50,000 $ 50,000 $ 173,000
Washington, Maryland 1 $ 34,000 $ 34,000 $ 27,000
Oakland, Michigan 1 $ 90,000 $ 90,000 $ 188,000
Clark, Nevada 1 $ 175,000 $ 175,000 $ 72,000
Chenango, New York 1 $ 120,000 $ 120,000 $ 93,000
Erie, New York 1 $ 248,000 $ 248,000 $ 74,000
Essex, New York 1 $ 100,000 $ 100,000 $ 132,000
Fulton, New York 1 $ 20,000 $ 20,000 $ 38,000
Montgomery, New York 1 $ 30,000 $ 30,000 $ 26,000
Oneida, New York 1 $ 47,000 $ 47,000 $ 39,000
Schoharie, New York 1 $ 200,000 $ 200,000 $ 150,000
St. Lawrence, New York 1 $ 25,000 $ 25,000 $ 17,000
Steuben, New York 1 $ 50,000 $ 50,000 $ 55,000
Tompkins, New York 1 $ 90,000 $ 90,000 $ 39,000
Washington, New York 1 $ 76,000 $ 76,000 $ 54,000
Brunswick, North Carolina 1 $ 285,000 $ 285,000 $ 69,000
Davidson, North Carolina 1 $ 15,000 $ 15,000 $ 48,000
Rowan, North Carolina 1 $ 16,000 $ 16,000 $ 205,000
Hocking, Ohio 1 $ 15,000 $ 15,000 $ 80,000
Lorain, Ohio 1 $ 6,000 $ 6,000 $ 79,000
Blair, Pennsylvania 1 $ 122,000 $ 122,000 $ 34,000
Clinton, Pennsylvania 1 $ 105,000 $ 105,000 $ 50,000
Cumberland, Pennsylvania 1 $ 125,000 $ 125,000 $ 120,000
Dauphin, Pennsylvania 1 $ 144,000 $ 144,000 $ 41,000
Franklin, Pennsylvania 1 $ 225,000 $ 225,000 $ 78,000
Lebanon, Pennsylvania 1 $ 158,000 $ 158,000 $ 71,000
Perry, Pennsylvania 1 $ 45,000 $ 45,000 $ 72,000
Wyoming, Pennsylvania 1 $ 70,000 $ 70,000 $ 54,000
Coamo, Puerto Rico 1 $ 5,000 $ 5,000 $ 33,000
Berkeley, South Carolina 1 $ 410,000 $ 410,000 $ 102,000
Horry, South Carolina 1 $ 700,000 $ 700,000 $ 952,000
York, South Carolina 1 $ 200,000 $ 200,000 $ 69,000
Pennington, South Dakota 1 $ 10,000 $ 10,000 $ 30,000
Sevier, Tennessee 1 $ 4,000 $ 4,000 $ 21,000
Dallas, Texas 1 $ 25,000 $ 25,000 $ 441,000
Harris, Texas 1 $ 2,000 $ 2,000 $ 175,000
Franklin, Vermont 1 $ 15,000 $ 15,000 $ 72,000
Windham, Vermont 1 $ 185,000 $ 185,000 $ 76,000
Accomack, Virginia 1 $ 99,000 $ 99,000 $ 56,000
Culpeper, Virginia 1 $ 60,000 $ 60,000 $ 67,000
Fairfax City, Virginia 1 $ 80,000 $ 80,000 $ 46,000
Henrico, Virginia 1 $ 50,000 $ 50,000 $ 98,000
King and Queen, Virginia 1 $ 417,000 $ 417,000 $ 169,000
Prince George, Virginia 1 $ 7,000 $ 7,000 $ 42,000
Richmond City, Virginia 1 $ 50,000 $ 50,000 $ 150,000
Spotsylvania, Virginia 1 $ 48,000 $ 48,000 $ 33,000
Warren, Virginia 1 $ 260,000 $ 260,000 $ 65,000
Winchester, Virginia 1 $ 60,000 $ 60,000 $ 114,000

Mortgage Loan Application Detail Totals for Commerce Bank, NA 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
Home Improvement 5,549 $279,743,000 $50,000 $11,000,000 $88,000 $1,767,000
Refinancing 3,415 $530,818,000 $155,000 $7,300,000 $113,000 $4,776,000
Home Purchase 1,913 $418,028,000 $218,000 $30,000,000 $110,000 $3,500,000

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 7,282 $783,986,000 $107,000 $4,800,000 $105,000 $4,776,000
Not Provided 1,396 $145,526,000 $104,000 $2,870,000 $108,000 $2,450,000
Black or African American 840 $64,071,000 $76,000 $776,000 $66,000 $595,000
Hispanic 774 $77,584,000 $100,000 $2,800,000 $78,000 $3,500,000
Asian 451 $60,879,000 $134,000 $1,650,000 $100,000 $2,331,000
Native Hawaiian or Other Pacific Islander 49 $5,938,000 $121,000 $620,000 $99,000 $512,000
Not applicable 45 $87,608,000 $1,946,000 $30,000,000 $0 $0
American Indian or Alaskan Native 40 $2,997,000 $74,000 $390,000 $88,000 $250,000

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) 10,728 $1,194,134,000 $111,000 $30,000,000 $100,000 $4,776,000
FHA-insured (Federal Housing Administration) 149 $34,455,000 $231,000 $1,146,000 $75,000 $214,000
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 4,697 $593,447,000 $126,000 $11,000,000 $110,000 $3,025,000
Application Denied By Financial Institution 4,551 $366,470,000 $80,000 $7,000,000 $80,000 $1,209,000
Application Approved But Not Accepted 1,255 $149,941,000 $119,000 $2,800,000 $119,000 $4,776,000
Application Withdrawn By Applicant 268 $87,957,000 $328,000 $30,000,000 $148,000 $1,587,000
File Closed For Incompleteness 59 $18,087,000 $306,000 $1,200,000 $136,000 $597,000
Preapproval Denied by Financial Institution 46 $12,485,000 $271,000 $2,870,000 $82,000 $1,369,000
Preapproval Approved but not Accepted 1 $202,000 $202,000 $202,000 $49,000 $49,000
Loan Purchased By The 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 History 2,577 $139,331,000 $54,000 $2,870,000 $72,000 $1,369,000
Debt-To-Income Ratio 989 $105,187,000 $106,000 $1,498,000 $69,000 $370,000
Collateral 596 $77,175,000 $129,000 $2,100,000 $114,000 $1,209,000
Other 303 $33,177,000 $109,000 $2,187,000 $110,000 $810,000
Unverifiable Information 56 $6,930,000 $123,000 $700,000 $108,000 $480,000
Employment History 29 $2,015,000 $69,000 $335,000 $86,000 $593,000
Credit Application Incomplete 17 $974,000 $57,000 $220,000 $55,000 $107,000
Insufficient Cash (Downpayment, Closing Cost) 15 $11,058,000 $737,000 $7,000,000 $135,000 $685,000
Mortgage Insurance Denied 15 $3,108,000 $207,000 $317,000 $59,000 $98,000

Our comprehensive HMDA mortgage statistics provide invaluable insights into Commerce Bank, NA'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 Commerce Bank, NA'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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