Discovery Federal Credit Union Mortgage Lending & HMDA Data, 2013
In 2013, Discovery Federal Credit Union of Wyomissing, PA reported 258 mortgage applications totaling $18.1 million, down 18% from 2012. The average application was for $69,961, and applicants reported an average income of $77,178. 67% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Reading, PA (222), Lebanon, PA (6) and Lancaster, PA (4) (applications in parentheses).
| Mortgage Company & Address | Discovery Federal Credit Union 2744 Century Boulevard Wyomissing, PA 19610 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 258 |
| Total Mortgage Loan Application Amount | $18,050,000 |
| Average Mortgage Loan Application Amount | $69,961 |
| Highest Mortgage Loan Application Amount | $285,000 |
| Average Applicant Income | $77,178 |
| Highest Applicant Income | $331,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Discovery Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Reading, PA | 222 | $ 13,899,000 | $ 62,608 | $ 76,000 |
| Lebanon, PA | 6 | $ 636,000 | $ 106,000 | $ 71,000 |
| Lancaster, PA | 4 | $ 458,000 | $ 114,500 | $ 106,000 |
| Philadelphia, PA | 3 | $ 201,000 | $ 67,000 | $ 69,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 2 | $ 179,000 | $ 89,500 | $ 50,000 |
| Harrisburg-Carlisle, PA | 1 | $ 72,000 | $ 72,000 | $ 116,000 |
Mortgage Loan Application Detail Totals for Discovery Federal Credit Union in 2013
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 | 121 | $11,255,000 | $93,000 | $279,000 | $76,000 | $217,000 |
| Home Improvement | 107 | $2,751,000 | $25,000 | $148,000 | $78,000 | $230,000 |
| Home Purchase | 30 | $4,044,000 | $134,000 | $285,000 | $79,000 | $331,000 |
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 | 235 | $16,249,000 | $69,000 | $285,000 | $78,000 | $331,000 |
| Hispanic | 7 | $605,000 | $86,000 | $202,000 | $56,000 | $85,000 |
| Black or African American | 6 | $333,000 | $55,000 | $176,000 | $70,000 | $128,000 |
| Not Provided | 6 | $354,000 | $59,000 | $139,000 | $68,000 | $115,000 |
| Asian | 3 | $374,000 | $124,000 | $259,000 | $64,000 | $92,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $135,000 | $135,000 | $135,000 | $85,000 | $85,000 |
| 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) | 257 | $18,011,000 | $70,000 | $285,000 | $77,000 | $331,000 |
| FHA-insured (Federal Housing Administration) | 1 | $39,000 | $39,000 | $39,000 | $59,000 | $59,000 |
| 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 | 173 | $9,948,000 | $57,000 | $259,000 | $79,000 | $230,000 |
| Application Withdrawn By Applicant | 29 | $1,807,000 | $62,000 | $219,000 | $73,000 | $119,000 |
| File Closed For Incompleteness | 27 | $3,679,000 | $136,000 | $285,000 | $81,000 | $331,000 |
| Application Denied By Financial Institution | 21 | $1,537,000 | $73,000 | $279,000 | $60,000 | $162,000 |
| Preapproval Denied by Financial Institution | 7 | $975,000 | $139,000 | $248,000 | $66,000 | $205,000 |
| Application Approved But Not Accepted | 1 | $104,000 | $104,000 | $104,000 | $55,000 | $55,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 | 12 | $1,032,000 | $86,000 | $248,000 | $59,000 | $162,000 |
| Debt-To-Income Ratio | 8 | $421,000 | $52,000 | $205,000 | $31,000 | $65,000 |
| Collateral | 3 | $358,000 | $119,000 | $279,000 | $97,000 | $122,000 |
| Other | 2 | $316,000 | $158,000 | $210,000 | $130,000 | $205,000 |
| Employment History | 1 | $203,000 | $203,000 | $203,000 | $133,000 | $133,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $162,000 | $162,000 | $162,000 | $35,000 | $35,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Discovery Federal Credit Union's 2013 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 Discovery 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 Pennsylvania, download the full spreadsheet
with aggregated HMDA statistics today.
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