Department of Commerce Federal Credit Union Mortgage Lending & HMDA Data, 2020
In 2020, Department of Commerce Federal Credit Union of Washington, DC reported 557 mortgage applications totaling $213.7 million, down 12% from 2019. The average application was for $383,707, and applicants reported an average income of $171,391. 87% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Richmond, VA (171), Washington-Arlington-Alexandria, DC-VA-MD-WV (169) and Washington-Baltimore-Arlington, DC (56) (applications in parentheses).
| Mortgage Company & Address | Department of Commerce Federal Credit Union P.O. Box 14720 Washington, DC 20230 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 |
| Total Number of Mortgage Applications | 557 |
| Total Mortgage Loan Application Amount | $213,725,000 |
| Average Mortgage Loan Application Amount | $383,707 |
| Highest Mortgage Loan Application Amount | $1,405,000 |
| Average Applicant Income | $171,391 |
| Highest Applicant Income | $2,051,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Department of Commerce Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Richmond, VA | 171 | $ 56,055,000 | $ 327,807 | $ 161,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 169 | $ 77,395,000 | $ 457,958 | $ 190,733 |
| Washington-Baltimore-Arlington, DC | 56 | $ 27,070,000 | $ 483,392 | $ 170,000 |
| Baltimore-Columbia-Towson, MD | 49 | $ 18,645,000 | $ 380,510 | $ 164,000 |
| Charlottesville, VA | 29 | $ 10,085,000 | $ 347,758 | $ 187,000 |
| Outside any metro area | 24 | $ 8,670,000 | $ 361,250 | $ 161,583 |
| Montgomery County-Bucks County-Chester County, PA | 7 | $ 3,125,000 | $ 446,428 | $ 170,000 |
| Salisbury, MD-DE | 5 | $ 1,295,000 | $ 259,000 | $ 146,800 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 4 | $ 1,500,000 | $ 375,000 | $ 186,000 |
| Wilmington, DE-MD-NJ | 3 | $ 585,000 | $ 195,000 | $ 315,000 |
| Atlanta-Sandy Springs-Roswell, GA | 2 | $ 540,000 | $ 270,000 | $ 108,000 |
| California-Lexington Park, MD | 2 | $ 970,000 | $ 485,000 | $ 181,000 |
| Lancaster, PA | 2 | $ 490,000 | $ 245,000 | $ 97,000 |
| Phoenix-Mesa-Scottsdale, AZ | 2 | $ 480,000 | $ 240,000 | $ 111,000 |
| Pittsburgh, PA | 2 | $ 500,000 | $ 250,000 | $ 149,000 |
| Albany-Schenectady-Troy, NY | 1 | $ 135,000 | $ 135,000 | $ 163,000 |
| Anaheim-Santa Ana-Irvine, CA | 1 | $ 55,000 | $ 55,000 | $ 118,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 75,000 | $ 75,000 | $ 160,000 |
| Buffalo-Cheektowaga-Niagara Falls, NY | 1 | $ 305,000 | $ 305,000 | $ 62,000 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 275,000 | $ 275,000 | $ 87,000 |
| Cleveland-Elyria, OH | 1 | $ 205,000 | $ 205,000 | $ 90,000 |
| Hagerstown-Martinsburg, MD-WV | 1 | $ 335,000 | $ 335,000 | $ 74,000 |
| Houston-The Woodlands-Sugar Land, TX | 1 | $ 285,000 | $ 285,000 | $ 91,000 |
| Jacksonville, FL | 1 | $ 405,000 | $ 405,000 | $ 74,000 |
| Los Angeles-Long Beach-Glendale, CA | 1 | $ 425,000 | $ 425,000 | $ 115,000 |
| Miami-Miami Beach-Kendall, FL | 1 | $ 65,000 | $ 65,000 | $ 54,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 1 | $ 195,000 | $ 195,000 | $ 64,000 |
| Montgomery, AL | 1 | $ 175,000 | $ 175,000 | $ 64,000 |
| New York-Jersey City-White Plains, NY-NJ | 1 | $ 305,000 | $ 305,000 | $ 70,000 |
| New York-Newark, NY | 1 | $ 235,000 | $ 235,000 | $ 102,000 |
| Oakland-Hayward-Berkeley, CA | 1 | $ 385,000 | $ 385,000 | $ 98,000 |
| Raleigh, NC | 1 | $ 165,000 | $ 165,000 | $ 86,000 |
| Roanoke, VA | 1 | $ 355,000 | $ 355,000 | $ 110,000 |
| San Diego-Carlsbad, CA | 1 | $ 265,000 | $ 265,000 | $ 108,000 |
| Tacoma-Lakewood, WA | 1 | $ 395,000 | $ 395,000 | $ 146,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 265,000 | $ 265,000 | $ 706,000 |
| Trenton, NJ | 1 | $ 175,000 | $ 175,000 | $ 111,000 |
| Warren-Troy-Farmington Hills, MI | 1 | $ 85,000 | $ 85,000 | $ 45,000 |
| Wilmington, NC | 1 | $ 445,000 | $ 445,000 | $ 575,000 |
Mortgage Loan Application Detail Totals for Department of Commerce Federal Credit Union in 2020
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 | 327 | $130,425,000 | $398,000 | $1,125,000 | $169,000 | $2,051,000 |
| Cash-out Refinancing | 107 | $41,205,000 | $385,000 | $1,395,000 | $169,000 | $1,054,000 |
| Home Purchase | 86 | $38,790,000 | $451,000 | $1,405,000 | $187,000 | $1,050,000 |
| Other Purpose | 27 | $2,285,000 | $84,000 | $175,000 | $151,000 | $466,000 |
| Home Improvement | 10 | $1,020,000 | $102,000 | $255,000 | $196,000 | $335,000 |
| 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 | 306 | $126,310,000 | $412,000 | $1,395,000 | $179,000 | $1,050,000 |
| Not Provided | 135 | $49,555,000 | $367,000 | $1,125,000 | $177,000 | $2,051,000 |
| Asian | 61 | $23,625,000 | $387,000 | $1,405,000 | $162,000 | $475,000 |
| Black or African American | 41 | $11,105,000 | $270,000 | $985,000 | $121,000 | $262,000 |
| Hispanic | 13 | $3,025,000 | $232,000 | $555,000 | $130,000 | $241,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $105,000 | $105,000 | $105,000 | $228,000 | $228,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 557 | $213,725,000 | $383,000 | $1,405,000 | $171,000 | $2,051,000 |
| 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 | 485 | $195,535,000 | $403,000 | $1,405,000 | $178,000 | $2,051,000 |
| Application Denied By Financial Institution | 57 | $16,495,000 | $289,000 | $1,015,000 | $117,000 | $593,000 |
| Application Withdrawn By Applicant | 15 | $1,695,000 | $113,000 | $335,000 | $149,000 | $335,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 500 | $197,230,000 | $394,000 | $1,405,000 | $177,000 | $2,051,000 |
| Credit History | 18 | $4,490,000 | $249,000 | $805,000 | $106,000 | $250,000 |
| Debt-To-Income Ratio | 14 | $4,350,000 | $310,000 | $1,015,000 | $97,000 | $257,000 |
| Collateral | 12 | $4,150,000 | $345,000 | $995,000 | $157,000 | $311,000 |
| Other | 6 | $1,250,000 | $208,000 | $315,000 | $169,000 | $593,000 |
| Employment History | 4 | $1,480,000 | $370,000 | $685,000 | $85,000 | $155,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $185,000 | $185,000 | $185,000 | $113,000 | $113,000 |
| Unverifiable Information | 1 | $365,000 | $365,000 | $365,000 | $67,000 | $67,000 |
| Credit Application Incomplete | 1 | $225,000 | $225,000 | $225,000 | $3,000 | $3,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Department of Commerce Federal Credit Union's 2020 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 Department of Commerce Federal 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.
For a list of all lenders in District of Columbia, download the full spreadsheet
with aggregated HMDA statistics today.
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