Elmira Savings & Loan F.A. Mortgage Lending & HMDA Data, 2004
In 2004, Elmira Savings & Loan F.A. of Elmria, NY reported 1,055 mortgage applications totaling $109.4 million, down 31% from 2003. The average application was for $103,709, and applicants reported an average income of $59,716. 45% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Ithaca, NY (444), Elmira, NY (370) and Binghamton, NY (24) (applications in parentheses).
| Mortgage Company & Address | Elmira Savings & Loan F.A. 300 West Water Street Elmria, NY 14901 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,055 |
| Total Mortgage Loan Application Amount | $109,414,000 |
| Average Mortgage Loan Application Amount | $103,709 |
| Highest Mortgage Loan Application Amount | $700,000 |
| Average Applicant Income | $59,716 |
| Highest Applicant Income | $1,624,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Elmira Savings & Loan F.A. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Elmira Savings & Loan F.A. in 2004
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 604 | $65,133,000 | $113,000 | $700,000 | $62,500 | $1,624,000 |
| Refinancing | 401 | $42,747,000 | $84,000 | $355,000 | $54,000 | $600,000 |
| Home Improvement | 50 | $1,534,000 | $27,500 | $166,000 | $103,500 | $350,000 |
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 | 982 | $101,635,000 | $93,000 | $700,000 | $64,500 | $1,624,000 |
| Not applicable | 21 | $2,341,000 | $111,000 | $355,000 | $53,000 | $350,000 |
| Asian | 17 | $2,503,000 | $147,000 | $294,000 | $103,000 | $301,000 |
| Not Provided | 15 | $953,000 | $63,000 | $173,000 | $56,000 | $143,000 |
| Black or African American | 12 | $1,128,000 | $94,000 | $256,000 | $63,000 | $187,000 |
| American Indian or Alaskan Native | 3 | $284,000 | $94,000 | $120,000 | $46,000 | $81,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $330,000 | $110,000 | $185,000 | $55,000 | $58,000 |
| Hispanic | 2 | $240,000 | $120,000 | $190,000 | $67,000 | $106,000 |
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) | 1,036 | $108,170,000 | $93,500 | $700,000 | $65,500 | $1,624,000 |
| FHA-insured (Federal Housing Administration) | 19 | $1,244,000 | $65,000 | $104,000 | $38,000 | $72,000 |
| 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 Purchased By The Institution | 504 | $56,745,000 | $93,000 | $340,000 | $64,000 | $1,624,000 |
| Loan Originated | 477 | $46,689,000 | $91,500 | $700,000 | $72,500 | $600,000 |
| Application Denied By Financial Institution | 25 | $1,724,000 | $68,000 | $223,000 | $39,000 | $130,000 |
| Application Withdrawn By Applicant | 25 | $2,157,000 | $82,500 | $289,000 | $40,000 | $143,000 |
| Application Approved But Not Accepted | 17 | $1,682,000 | $98,000 | $228,000 | $63,000 | $216,000 |
| File Closed For Incompleteness | 7 | $417,000 | $59,000 | $88,000 | $17,000 | $56,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 10 | $770,000 | $77,000 | $223,000 | $46,000 | $104,000 |
| Credit History | 5 | $297,000 | $59,000 | $82,000 | $42,000 | $69,000 |
| Employment History | 4 | $243,000 | $60,000 | $105,000 | $27,000 | $40,000 |
| Other | 4 | $160,000 | $40,000 | $63,000 | $47,000 | $130,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $201,000 | $201,000 | $201,000 | $0 | $0 |
| Debt-To-Income Ratio | 1 | $53,000 | $53,000 | $53,000 | $26,000 | $26,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Elmira Savings & Loan F.A.'s 2004 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 Elmira Savings & Loan F.A.'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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