Eastern Financial FCU Mortgage Lending & HMDA Data, 2006
In 2006, Eastern Financial FCU of Melbourne, FL reported 1,909 mortgage applications totaling $295.4 million, down 10% from 2005. The average application was for $154,738, and applicants reported an average income of $68,369. 74% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Miami-Miami Beach-Kendall, FL (714), Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (580) and Tampa-St. Petersburg-Clearwater, FL (196) (applications in parentheses).
| Mortgage Company & Address | Eastern Financial FCU 8045 N Wickham Rd Melbourne, FL 32940 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,909 |
| Total Mortgage Loan Application Amount | $295,396,000 |
| Average Mortgage Loan Application Amount | $154,738 |
| Highest Mortgage Loan Application Amount | $8,800,000 |
| Average Applicant Income | $68,369 |
| Highest Applicant Income | $1,188,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Eastern Financial FCU filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Miami-Miami Beach-Kendall, FL | 714 | $ 104,384,000 | $ 146,196 | $ 69,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 580 | $ 88,252,000 | $ 152,158 | $ 66,000 |
| Tampa-St. Petersburg-Clearwater, FL | 196 | $ 21,964,000 | $ 112,061 | $ 65,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 56 | $ 11,711,000 | $ 209,125 | $ 81,000 |
| Atlanta-Sandy Springs-Marietta, GA | 37 | $ 4,390,000 | $ 118,648 | $ 67,000 |
| Orlando-Kissimmee, FL | 17 | $ 2,735,000 | $ 160,882 | $ 66,000 |
| Port St. Lucie-Fort Pierce, FL | 17 | $ 2,827,000 | $ 166,294 | $ 84,000 |
| Cape Coral-Fort Myers, FL | 12 | $ 1,510,000 | $ 125,833 | $ 67,000 |
| Palm Bay-Melbourne-Titusville, FL | 9 | $ 1,039,000 | $ 115,444 | $ 74,000 |
| Lakeland, FL | 7 | $ 1,146,000 | $ 163,714 | $ 66,000 |
| Ocala, FL | 6 | $ 818,000 | $ 136,333 | $ 60,000 |
| Jacksonville, FL | 5 | $ 562,000 | $ 112,400 | $ 55,000 |
| Naples-Marco Island, FL | 5 | $ 682,000 | $ 136,400 | $ 71,000 |
| Baltimore-Towson, MD | 4 | $ 160,000 | $ 40,000 | $ 100,000 |
| Gainesville, FL | 4 | $ 452,000 | $ 113,000 | $ 58,000 |
| Tallahassee, FL | 4 | $ 384,000 | $ 96,000 | $ 68,000 |
| Charlotte-Gastonia-Concord, NC-SC | 3 | $ 436,000 | $ 145,333 | $ 101,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 3 | $ 442,000 | $ 147,333 | $ 58,000 |
| New York-White Plains-Wayne, NY-NJ | 3 | $ 310,000 | $ 103,333 | $ 71,333 |
| Sarasota-Bradenton-Venice, FL | 3 | $ 629,000 | $ 209,666 | $ 49,000 |
| Sebastian-Vero Beach, FL | 3 | $ 479,000 | $ 159,666 | $ 70,000 |
| Chicago-Naperville-Joliet, IL | 2 | $ 522,000 | $ 261,000 | $ 107,000 |
| Hartford-West Hartford-East Hartford, CT | 2 | $ 36,000 | $ 18,000 | $ 72,000 |
| Pensacola-Ferry Pass-Brent, FL | 2 | $ 168,000 | $ 84,000 | $ 28,000 |
| Punta Gorda, FL | 2 | $ 48,000 | $ 24,000 | $ 33,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 2 | $ 225,000 | $ 112,500 | $ 66,000 |
| Corpus Christi, TX | 1 | $ 181,000 | $ 181,000 | $ 101,000 |
| Denver-Aurora, CO | 1 | $ 75,000 | $ 75,000 | $ 87,000 |
| Edison, NJ | 1 | $ 333,000 | $ 333,000 | $ 64,000 |
| Fort Worth-Arlington, TX | 1 | $ 135,000 | $ 135,000 | $ 33,000 |
| Greensboro-High Point, NC | 1 | $ 23,000 | $ 23,000 | $ 39,000 |
| Greenville, SC | 1 | $ 44,000 | $ 44,000 | $ 54,000 |
| Houston-Sugar Land-Baytown, TX | 1 | $ 78,000 | $ 78,000 | $ 31,000 |
| Johnson City, TN | 1 | $ 232,000 | $ 232,000 | $ 85,000 |
| Kalamazoo-Portage, MI | 1 | $ 53,000 | $ 53,000 | $ 132,000 |
| Lexington-Fayette, KY | 1 | $ 107,000 | $ 107,000 | $ 42,000 |
| Memphis, TN-MS-AR | 1 | $ 130,000 | $ 130,000 | $ 96,000 |
| Montgomery, AL | 1 | $ 62,000 | $ 62,000 | $ 44,000 |
| Nashville-Davidson--Murfreesboro, TN | 1 | $ 121,000 | $ 121,000 | $ 70,000 |
| New Orleans-Metairie-Kenner, LA | 1 | $ 160,000 | $ 160,000 | $ 115,000 |
| Philadelphia, PA | 1 | $ 5,000 | $ 5,000 | $ 30,000 |
| Pittsfield, MA | 1 | $ 154,000 | $ 154,000 | $ 80,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 400,000 | $ 400,000 | $ 90,000 |
| Rockingham County-Strafford County, NH | 1 | $ 58,000 | $ 58,000 | $ 50,000 |
| Santa Fe, NM | 1 | $ 188,000 | $ 188,000 | $ 119,000 |
| Tucson, AZ | 1 | $ 219,000 | $ 219,000 | $ 117,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 1 | $ 20,000 | $ 20,000 | $ 144,000 |
| Winston-Salem, NC | 1 | $ 162,000 | $ 162,000 | $ 98,000 |
| Youngstown-Warren-Boardman, OH-PA | 1 | $ 65,000 | $ 65,000 | $ 36,000 |
Mortgage Loan Application Detail Totals for Eastern Financial FCU in 2006
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 | 716 | $125,011,000 | $174,000 | $855,000 | $68,000 | $373,000 |
| Home Purchase | 705 | $150,863,000 | $213,000 | $8,800,000 | $69,000 | $1,188,000 |
| Home Improvement | 488 | $19,522,000 | $40,000 | $350,000 | $68,000 | $384,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 681 | $97,972,000 | $143,000 | $1,011,000 | $68,000 | $373,000 |
| Not Provided | 563 | $90,759,000 | $161,000 | $1,840,000 | $68,000 | $543,000 |
| White | 427 | $71,757,000 | $168,000 | $8,800,000 | $73,000 | $1,188,000 |
| Black or African American | 195 | $28,811,000 | $147,000 | $500,000 | $59,000 | $155,000 |
| Asian | 27 | $4,796,000 | $177,000 | $392,000 | $74,000 | $204,000 |
| Native Hawaiian or Other Pacific Islander | 10 | $739,000 | $73,000 | $223,000 | $56,000 | $102,000 |
| American Indian or Alaskan Native | 6 | $562,000 | $93,000 | $195,000 | $57,000 | $85,000 |
| 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) | 1,909 | $295,396,000 | $154,000 | $8,800,000 | $68,000 | $1,188,000 |
| 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 | 1,415 | $228,905,000 | $161,000 | $8,800,000 | $70,000 | $1,188,000 |
| Application Denied By Financial Institution | 157 | $9,081,000 | $57,000 | $350,000 | $60,000 | $180,000 |
| File Closed For Incompleteness | 111 | $25,540,000 | $230,000 | $1,840,000 | $66,000 | $543,000 |
| Application Withdrawn By Applicant | 96 | $12,788,000 | $133,000 | $446,000 | $68,000 | $228,000 |
| Application Approved But Not Accepted | 61 | $5,512,000 | $90,000 | $301,000 | $65,000 | $180,000 |
| Preapproval Approved but not Accepted | 58 | $12,165,000 | $209,000 | $629,000 | $64,000 | $412,000 |
| Preapproval Denied by Financial Institution | 11 | $1,405,000 | $127,000 | $200,000 | $43,000 | $81,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 6 | $980,000 | $163,000 | $176,000 | $55,000 | $115,000 |
| Unverifiable Information | 5 | $660,000 | $132,000 | $206,000 | $41,000 | $65,000 |
| Credit History | 2 | $359,000 | $179,000 | $228,000 | $59,000 | $70,000 |
| Debt-To-Income Ratio | 1 | $260,000 | $260,000 | $260,000 | $99,000 | $99,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Eastern Financial FCU's 2006 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 Eastern Financial FCU'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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