Commonwealth Central Credit Union Mortgage Lending & HMDA Data, 2007
In 2007, Commonwealth Central Credit Union of San Jose, CA reported 292 mortgage applications totaling $45.5 million, down 8% from 2006. The average application was for $155,945, and applicants reported an average income of $126,102. 91% of its applications resulted in an originated loan and 9% were denied. Its largest markets were San Jose-Sunnyvale-Santa Clara, CA (238), Oakland-Fremont-Hayward, CA (18) and Santa Cruz-Watsonville, CA (8) (applications in parentheses).
| Mortgage Company & Address | Commonwealth Central Credit Union 5890 Silver Creek Valley Road San Jose, CA 95138 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 292 |
| Total Mortgage Loan Application Amount | $45,536,000 |
| Average Mortgage Loan Application Amount | $155,945 |
| Highest Mortgage Loan Application Amount | $787,000 |
| Average Applicant Income | $126,102 |
| Highest Applicant Income | $456,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Commonwealth Central Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Santa Clara, California | 228 | $ 35,491,000 | $ 155,662 | $ 125,000 |
| Alameda, California | 15 | $ 2,021,000 | $ 134,733 | $ 129,000 |
| San Benito, California | 10 | $ 2,125,000 | $ 212,500 | $ 116,000 |
| San Joaquin, California | 8 | $ 586,000 | $ 73,250 | $ 100,000 |
| Santa Cruz, California | 8 | $ 1,454,000 | $ 181,750 | $ 130,000 |
| San Mateo, California | 4 | $ 820,000 | $ 205,000 | $ 152,000 |
| Contra Costa, California | 3 | $ 340,000 | $ 113,333 | $ 132,000 |
| Sacramento, California | 3 | $ 370,000 | $ 123,333 | $ 164,000 |
| Monterey, California | 2 | $ 183,000 | $ 91,500 | $ 165,000 |
| Placer, California | 2 | $ 640,000 | $ 320,000 | $ 102,000 |
| Amador, California | 1 | $ 170,000 | $ 170,000 | $ 41,000 |
| El Dorado, California | 1 | $ 408,000 | $ 408,000 | $ 116,000 |
| Fresno, California | 1 | $ 149,000 | $ 149,000 | $ 213,000 |
| Los Angeles, California | 1 | $ 75,000 | $ 75,000 | $ 246,000 |
| Merced, California | 1 | $ 30,000 | $ 30,000 | $ 91,000 |
| San Bernardino, California | 1 | $ 92,000 | $ 92,000 | $ 119,000 |
| San Luis Obispo, California | 1 | $ 375,000 | $ 375,000 | $ 117,000 |
| Shasta, California | 1 | $ 182,000 | $ 182,000 | $ 187,000 |
| Stanislaus, California | 1 | $ 25,000 | $ 25,000 | $ 166,000 |
Mortgage Loan Application Detail Totals for Commonwealth Central Credit Union in 2007
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 | 151 | $24,183,000 | $160,000 | $685,000 | $126,000 | $456,000 |
| Home Improvement | 117 | $11,682,000 | $99,000 | $500,000 | $124,000 | $430,000 |
| Home Purchase | 24 | $9,671,000 | $402,000 | $787,000 | $137,000 | $288,000 |
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 | 160 | $23,677,000 | $147,000 | $787,000 | $121,000 | $400,000 |
| Not Provided | 63 | $11,068,000 | $175,000 | $688,000 | $136,000 | $430,000 |
| Hispanic | 42 | $5,848,000 | $139,000 | $600,000 | $122,000 | $393,000 |
| Asian | 20 | $3,442,000 | $172,000 | $644,000 | $159,000 | $456,000 |
| Black or African American | 4 | $1,291,000 | $322,000 | $451,000 | $111,000 | $146,000 |
| American Indian or Alaskan Native | 3 | $210,000 | $70,000 | $100,000 | $54,000 | $73,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 291 | $45,386,000 | $155,000 | $787,000 | $126,000 | $456,000 |
| VA-guaranteed (Veterans Administration) | 1 | $150,000 | $150,000 | $150,000 | $276,000 | $276,000 |
| 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 |
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 | 265 | $43,009,000 | $162,000 | $787,000 | $129,000 | $456,000 |
| Application Denied By Financial Institution | 25 | $2,361,000 | $94,000 | $200,000 | $95,000 | $336,000 |
| Application Withdrawn By Applicant | 2 | $166,000 | $83,000 | $131,000 | $146,000 | $170,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 7 | $680,000 | $97,000 | $200,000 | $71,000 | $114,000 |
| Employment History | 5 | $510,000 | $102,000 | $182,000 | $83,000 | $187,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $330,000 | $82,000 | $150,000 | $103,000 | $213,000 |
| Other | 3 | $276,000 | $92,000 | $150,000 | $77,000 | $148,000 |
| Credit History | 3 | $295,000 | $98,000 | $180,000 | $97,000 | $101,000 |
| Collateral | 1 | $70,000 | $70,000 | $70,000 | $105,000 | $105,000 |
| Credit Application Incomplete | 1 | $170,000 | $170,000 | $170,000 | $336,000 | $336,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Commonwealth Central Credit Union's 2007 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 Commonwealth Central Credit Union'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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