E*Trade Bank Mortgage Lending & HMDA Data, 2008
In 2008, E*Trade Bank of Arlington, VA reported 1,670 mortgage applications totaling $458.9 million, down 93% from 2007. The average application was for $274,795, and applicants reported an average income of $130,865. 33% of its applications resulted in an originated loan and 47% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (104), Washington-Arlington-Alexandria, DC-VA-MD-WV (69) and New York-White Plains-Wayne, NY-NJ (48) (applications in parentheses).
| Mortgage Company & Address | E*Trade Bank 671 North Glebe Rd, 12th Floor Arlington, VA 22203 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,670 |
| Total Mortgage Loan Application Amount | $458,908,000 |
| Average Mortgage Loan Application Amount | $274,795 |
| Highest Mortgage Loan Application Amount | $3,000,000 |
| Average Applicant Income | $130,865 |
| Highest Applicant Income | $4,992,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records E*Trade Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Detail Totals for E*Trade Bank 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 |
|---|---|---|---|---|---|---|
| Refinancing | 1,124 | $297,674,000 | $264,000 | $3,000,000 | $124,000 | $4,992,000 |
| Home Purchase | 546 | $161,234,000 | $295,000 | $1,500,000 | $145,000 | $2,003,000 |
| Home Improvement | 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 | 816 | $230,792,000 | $282,000 | $1,500,000 | $133,000 | $2,003,000 |
| Not Provided | 628 | $167,842,000 | $267,000 | $3,000,000 | $136,000 | $4,992,000 |
| Asian | 105 | $31,974,000 | $304,000 | $1,419,000 | $119,000 | $510,000 |
| Hispanic | 64 | $16,786,000 | $262,000 | $700,000 | $98,000 | $320,000 |
| Black or African American | 36 | $7,520,000 | $208,000 | $417,000 | $118,000 | $720,000 |
| Not applicable | 8 | $1,256,000 | $157,000 | $256,000 | $50,000 | $73,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $1,316,000 | $188,000 | $250,000 | $97,000 | $216,000 |
| American Indian or Alaskan Native | 6 | $1,422,000 | $237,000 | $417,000 | $101,000 | $160,000 |
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) | 1,670 | $458,908,000 | $274,000 | $3,000,000 | $131,000 | $4,992,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 780 | $220,959,000 | $283,000 | $3,000,000 | $134,000 | $4,992,000 |
| Loan Originated | 553 | $154,432,000 | $279,000 | $1,390,000 | $128,000 | $540,000 |
| Application Withdrawn By Applicant | 162 | $43,971,000 | $271,000 | $1,140,000 | $149,000 | $1,992,000 |
| Application Approved But Not Accepted | 120 | $31,425,000 | $261,000 | $1,141,000 | $134,000 | $1,192,000 |
| Loan Purchased By The Institution | 55 | $8,121,000 | $147,000 | $385,000 | $57,000 | $210,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 Application Incomplete | 575 | $164,489,000 | $286,000 | $3,000,000 | $140,000 | $4,992,000 |
| Collateral | 103 | $29,124,000 | $282,000 | $1,410,000 | $134,000 | $420,000 |
| Debt-To-Income Ratio | 62 | $18,549,000 | $299,000 | $1,419,000 | $89,000 | $372,000 |
| Credit History | 34 | $7,514,000 | $221,000 | $776,000 | $123,000 | $720,000 |
| Employment History | 2 | $350,000 | $175,000 | $185,000 | $216,000 | $360,000 |
| Unverifiable Information | 2 | $335,000 | $167,000 | $215,000 | $221,000 | $389,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $181,000 | $181,000 | $181,000 | $62,000 | $62,000 |
| Other | 1 | $417,000 | $417,000 | $417,000 | $160,000 | $160,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into E*Trade Bank'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 E*Trade Bank'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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