Essex Savings Bank, FSB Mortgage Lending & HMDA Data, 2003
In 2003, Essex Savings Bank, FSB of Norfolk, VA reported 1,120 mortgage applications totaling $203.7 million. The average application was for $181,903, and applicants reported an average income of $60,834. 70% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Richmond-Petersburg, VA (301), Norfolk-Virginia Beach-Newport News, VA-NC (204) and Charlotte-Gastonia-Rock Hill, NC-SC (24) (applications in parentheses).
| Mortgage Company & Address | Essex Savings Bank, FSB 410 N Center Dr Norfolk, VA 23502 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 1,120 |
| Total Mortgage Loan Application Amount | $203,732,000 |
| Average Mortgage Loan Application Amount | $181,903 |
| Highest Mortgage Loan Application Amount | $1,028,000 |
| Average Applicant Income | $60,834 |
| Highest Applicant Income | $452,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Essex Savings Bank, FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Pasquotank, North Carolina | 126 | $ 13,627,000 | $ 108,150 | $ 57,000 |
| Hanover, Virginia | 91 | $ 16,140,000 | $ 177,362 | $ 80,000 |
| Henrico, Virginia | 72 | $ 10,891,000 | $ 151,263 | $ 64,000 |
| Virginia Beach, Virginia | 64 | $ 10,992,000 | $ 171,750 | $ 57,000 |
| Suffolk, Virginia | 53 | $ 7,377,000 | $ 139,188 | $ 67,000 |
| Camden, North Carolina | 46 | $ 5,709,000 | $ 124,108 | $ 52,000 |
| New Kent, Virginia | 38 | $ 5,565,000 | $ 146,447 | $ 70,000 |
| Currituck, North Carolina | 35 | $ 4,417,000 | $ 126,200 | $ 59,000 |
| Gates, North Carolina | 35 | $ 3,327,000 | $ 95,057 | $ 47,000 |
| Chesterfield, Virginia | 35 | $ 6,814,000 | $ 194,685 | $ 93,000 |
| Perquimans, North Carolina | 34 | $ 3,179,000 | $ 93,500 | $ 55,000 |
| Chesapeake, Virginia | 29 | $ 4,401,000 | $ 151,758 | $ 53,000 |
| Goochland, Virginia | 26 | $ 7,415,000 | $ 285,192 | $ 118,000 |
| Greensville, Virginia | 25 | $ 1,672,000 | $ 66,880 | $ 42,000 |
| Powhatan, Virginia | 20 | $ 5,344,000 | $ 267,200 | $ 92,000 |
| Norfolk, Virginia | 17 | $ 1,926,000 | $ 113,294 | $ 55,000 |
| Isle of Wight, Virginia | 14 | $ 1,595,000 | $ 113,928 | $ 55,000 |
| Gaston, North Carolina | 13 | $ 1,415,000 | $ 108,846 | $ 74,000 |
| Flagler, Florida | 10 | $ 767,000 | $ 76,700 | $ 77,000 |
| Emporia, Virginia | 10 | $ 666,000 | $ 66,600 | $ 40,000 |
| Portsmouth, Virginia | 10 | $ 783,000 | $ 78,300 | $ 31,000 |
| Louisa, Virginia | 9 | $ 1,439,000 | $ 159,888 | $ 68,000 |
| Dare, North Carolina | 8 | $ 1,022,000 | $ 127,750 | $ 78,000 |
| Fairfax, Virginia | 8 | $ 3,767,000 | $ 470,875 | $ 96,000 |
| Richmond City, Virginia | 8 | $ 1,195,000 | $ 149,375 | $ 96,000 |
| Chowan, North Carolina | 7 | $ 503,000 | $ 71,857 | $ 41,000 |
| Mecklenburg, Virginia | 7 | $ 878,000 | $ 125,428 | $ 59,000 |
| Middlesex, Virginia | 7 | $ 850,000 | $ 121,428 | $ 71,000 |
| Guilford, North Carolina | 6 | $ 1,378,000 | $ 229,666 | $ 88,000 |
| Iredell, North Carolina | 6 | $ 1,224,000 | $ 204,000 | $ 78,000 |
| Mecklenburg, North Carolina | 6 | $ 1,466,000 | $ 244,333 | $ 77,000 |
| King William, Virginia | 6 | $ 934,000 | $ 155,666 | $ 68,000 |
| Newport News, Virginia | 6 | $ 647,000 | $ 107,833 | $ 45,000 |
| King, Washington | 6 | $ 3,097,000 | $ 516,166 | $ 0 |
| San Diego, California | 5 | $ 2,049,000 | $ 409,800 | $ 0 |
| San Mateo, California | 5 | $ 2,440,000 | $ 488,000 | $ 0 |
| Cook, Illinois | 5 | $ 2,251,000 | $ 450,200 | $ 0 |
| Middlesex, Massachusetts | 5 | $ 2,511,000 | $ 502,200 | $ 0 |
| Wake, North Carolina | 5 | $ 1,234,000 | $ 246,800 | $ 86,000 |
| Charles City, Virginia | 5 | $ 523,000 | $ 104,600 | $ 56,000 |
| James City, Virginia | 5 | $ 937,000 | $ 187,400 | $ 86,000 |
| Contra Costa, California | 4 | $ 1,693,000 | $ 423,250 | $ 0 |
| Los Angeles, California | 4 | $ 2,042,000 | $ 510,500 | $ 0 |
| Orange, California | 4 | $ 2,314,000 | $ 578,500 | $ 0 |
| Fulton, Georgia | 4 | $ 1,330,000 | $ 332,500 | $ 25,000 |
| Brunswick, Virginia | 4 | $ 602,000 | $ 150,500 | $ 74,000 |
| Pierce, Washington | 4 | $ 1,681,000 | $ 420,250 | $ 0 |
| Maricopa, Arizona | 3 | $ 1,406,000 | $ 468,666 | $ 0 |
| Alameda, California | 3 | $ 1,348,000 | $ 449,333 | $ 0 |
| Santa Clara, California | 3 | $ 1,414,000 | $ 471,333 | $ 0 |
| Prince George's, Maryland | 3 | $ 296,000 | $ 98,666 | $ 71,000 |
| Forsyth, North Carolina | 3 | $ 681,000 | $ 227,000 | $ 129,000 |
| Montgomery, Pennsylvania | 3 | $ 893,000 | $ 297,666 | $ 25,000 |
| Beaufort, South Carolina | 3 | $ 2,678,000 | $ 892,666 | $ 0 |
| Caroline, Virginia | 3 | $ 597,000 | $ 199,000 | $ 82,000 |
| Hampton, Virginia | 3 | $ 290,000 | $ 96,666 | $ 54,000 |
| Nelson, Virginia | 3 | $ 482,000 | $ 160,666 | $ 245,000 |
| Prince George, Virginia | 3 | $ 475,000 | $ 158,333 | $ 88,000 |
| Southampton, Virginia | 3 | $ 456,000 | $ 152,000 | $ 53,000 |
| York, Virginia | 3 | $ 710,000 | $ 236,666 | $ 128,000 |
| Marin, California | 2 | $ 1,206,000 | $ 603,000 | $ 0 |
| San Francisco, California | 2 | $ 903,000 | $ 451,500 | $ 0 |
| Boulder, Colorado | 2 | $ 829,000 | $ 414,500 | $ 0 |
| District of Columbia, District Of Columbia | 2 | $ 493,000 | $ 246,500 | $ 27,000 |
| Duval, Florida | 2 | $ 403,000 | $ 201,500 | $ 136,000 |
| Miami-Dade, Florida | 2 | $ 800,000 | $ 400,000 | $ 0 |
| Hunterdon, New Jersey | 2 | $ 1,095,000 | $ 547,500 | $ 0 |
| Suffolk, New York | 2 | $ 802,000 | $ 401,000 | $ 0 |
| Alamance, North Carolina | 2 | $ 270,000 | $ 135,000 | $ 115,000 |
| Cabarrus, North Carolina | 2 | $ 365,000 | $ 182,500 | $ 195,000 |
| Catawba, North Carolina | 2 | $ 425,000 | $ 212,500 | $ 84,000 |
| Halifax, North Carolina | 2 | $ 125,000 | $ 62,500 | $ 37,000 |
| Washington, North Carolina | 2 | $ 199,000 | $ 99,500 | $ 61,000 |
| Bucks, Pennsylvania | 2 | $ 398,000 | $ 199,000 | $ 0 |
| Collin, Texas | 2 | $ 394,000 | $ 197,000 | $ 0 |
| Denton, Texas | 2 | $ 1,166,000 | $ 583,000 | $ 0 |
| Harris, Texas | 2 | $ 707,000 | $ 353,500 | $ 0 |
| Travis, Texas | 2 | $ 793,000 | $ 396,500 | $ 0 |
| Alexandria, Virginia | 2 | $ 837,000 | $ 418,500 | $ 0 |
| Amelia, Virginia | 2 | $ 333,000 | $ 166,500 | $ 51,000 |
| Dinwiddie, Virginia | 2 | $ 240,000 | $ 120,000 | $ 63,000 |
| Essex, Virginia | 2 | $ 437,000 | $ 218,500 | $ 80,000 |
| Fauquier, Virginia | 2 | $ 251,000 | $ 125,500 | $ 321,000 |
| Franklin City, Virginia | 2 | $ 179,000 | $ 89,500 | $ 38,000 |
| Prince William, Virginia | 2 | $ 457,000 | $ 228,500 | $ 197,000 |
| Sussex, Virginia | 2 | $ 101,000 | $ 50,500 | $ 42,000 |
| Napa, California | 1 | $ 414,000 | $ 414,000 | $ 0 |
| Nevada, California | 1 | $ 424,000 | $ 424,000 | $ 0 |
| Sacramento, California | 1 | $ 504,000 | $ 504,000 | $ 0 |
| Santa Cruz, California | 1 | $ 357,000 | $ 357,000 | $ 0 |
| Ventura, California | 1 | $ 605,000 | $ 605,000 | $ 0 |
| Adams, Colorado | 1 | $ 170,000 | $ 170,000 | $ 0 |
| Douglas, Colorado | 1 | $ 419,000 | $ 419,000 | $ 0 |
| Eagle, Colorado | 1 | $ 650,000 | $ 650,000 | $ 0 |
| Jefferson, Colorado | 1 | $ 428,000 | $ 428,000 | $ 0 |
| Mesa, Colorado | 1 | $ 333,000 | $ 333,000 | $ 0 |
| Montrose, Colorado | 1 | $ 127,000 | $ 127,000 | $ 0 |
| Summit, Colorado | 1 | $ 358,000 | $ 358,000 | $ 0 |
| Broward, Florida | 1 | $ 497,000 | $ 497,000 | $ 0 |
| Hillsborough, Florida | 1 | $ 493,000 | $ 493,000 | $ 0 |
| Manatee, Florida | 1 | $ 400,000 | $ 400,000 | $ 0 |
| Monroe, Florida | 1 | $ 349,000 | $ 349,000 | $ 0 |
| Orange, Florida | 1 | $ 117,000 | $ 117,000 | $ 80,000 |
| Osceola, Florida | 1 | $ 360,000 | $ 360,000 | $ 0 |
| Palm Beach, Florida | 1 | $ 48,000 | $ 48,000 | $ 22,000 |
| Pinellas, Florida | 1 | $ 103,000 | $ 103,000 | $ 0 |
| Fayette, Georgia | 1 | $ 521,000 | $ 521,000 | $ 0 |
| Ada, Idaho | 1 | $ 435,000 | $ 435,000 | $ 0 |
| Lake, Illinois | 1 | $ 629,000 | $ 629,000 | $ 0 |
| Hamilton, Indiana | 1 | $ 595,000 | $ 595,000 | $ 0 |
| Huntington, Indiana | 1 | $ 618,000 | $ 618,000 | $ 0 |
| Marion, Indiana | 1 | $ 171,000 | $ 171,000 | $ 0 |
| Jefferson, Kentucky | 1 | $ 130,000 | $ 130,000 | $ 0 |
| Baltimore, Maryland | 1 | $ 339,000 | $ 339,000 | $ 0 |
| Charles, Maryland | 1 | $ 284,000 | $ 284,000 | $ 0 |
| Howard, Maryland | 1 | $ 184,000 | $ 184,000 | $ 0 |
| Montgomery, Maryland | 1 | $ 340,000 | $ 340,000 | $ 0 |
| Essex, Massachusetts | 1 | $ 520,000 | $ 520,000 | $ 0 |
| Norfolk, Massachusetts | 1 | $ 349,000 | $ 349,000 | $ 0 |
| Suffolk, Massachusetts | 1 | $ 260,000 | $ 260,000 | $ 0 |
| Livingston, Michigan | 1 | $ 245,000 | $ 245,000 | $ 0 |
| St. Louis, Missouri | 1 | $ 893,000 | $ 893,000 | $ 0 |
| Washoe, Nevada | 1 | $ 450,000 | $ 450,000 | $ 0 |
| Rockingham, New Hampshire | 1 | $ 374,000 | $ 374,000 | $ 0 |
| Hudson, New Jersey | 1 | $ 321,000 | $ 321,000 | $ 0 |
| Union, New Jersey | 1 | $ 228,000 | $ 228,000 | $ 0 |
| Westchester, New York | 1 | $ 465,000 | $ 465,000 | $ 0 |
| Alleghany, North Carolina | 1 | $ 393,000 | $ 393,000 | $ 448,000 |
| Buncombe, North Carolina | 1 | $ 224,000 | $ 224,000 | $ 57,000 |
| Carteret, North Carolina | 1 | $ 560,000 | $ 560,000 | $ 303,000 |
| Craven, North Carolina | 1 | $ 50,000 | $ 50,000 | $ 35,000 |
| Davie, North Carolina | 1 | $ 200,000 | $ 200,000 | $ 73,000 |
| Edgecombe, North Carolina | 1 | $ 153,000 | $ 153,000 | $ 39,000 |
| Hertford, North Carolina | 1 | $ 89,000 | $ 89,000 | $ 28,000 |
| Lincoln, North Carolina | 1 | $ 130,000 | $ 130,000 | $ 104,000 |
| Onslow, North Carolina | 1 | $ 141,000 | $ 141,000 | $ 91,000 |
| Pender, North Carolina | 1 | $ 100,000 | $ 100,000 | $ 46,000 |
| Rowan, North Carolina | 1 | $ 185,000 | $ 185,000 | $ 45,000 |
| Rutherford, North Carolina | 1 | $ 175,000 | $ 175,000 | $ 87,000 |
| Surry, North Carolina | 1 | $ 164,000 | $ 164,000 | $ 89,000 |
| Union, North Carolina | 1 | $ 314,000 | $ 314,000 | $ 137,000 |
| Warren, North Carolina | 1 | $ 54,000 | $ 54,000 | $ 46,000 |
| Clermont, Ohio | 1 | $ 332,000 | $ 332,000 | $ 0 |
| Chester, Pennsylvania | 1 | $ 444,000 | $ 444,000 | $ 0 |
| Pickens, South Carolina | 1 | $ 410,000 | $ 410,000 | $ 0 |
| Dallas, Texas | 1 | $ 540,000 | $ 540,000 | $ 0 |
| Accomack, Virginia | 1 | $ 242,000 | $ 242,000 | $ 153,000 |
| Arlington, Virginia | 1 | $ 428,000 | $ 428,000 | $ 0 |
| Bedford, Virginia | 1 | $ 111,000 | $ 111,000 | $ 30,000 |
| Clarke, Virginia | 1 | $ 163,000 | $ 163,000 | $ 69,000 |
| Colonial Heights, Virginia | 1 | $ 224,000 | $ 224,000 | $ 85,000 |
| Falls Church, Virginia | 1 | $ 234,000 | $ 234,000 | $ 423,000 |
| Franklin, Virginia | 1 | $ 285,000 | $ 285,000 | $ 89,000 |
| Harrisonburg, Virginia | 1 | $ 198,000 | $ 198,000 | $ 69,000 |
| King and Queen, Virginia | 1 | $ 180,000 | $ 180,000 | $ 87,000 |
| Loudoun, Virginia | 1 | $ 400,000 | $ 400,000 | $ 0 |
| Manassas, Virginia | 1 | $ 32,000 | $ 32,000 | $ 25,000 |
| Northampton, Virginia | 1 | $ 96,000 | $ 96,000 | $ 30,000 |
| Northumberland, Virginia | 1 | $ 130,000 | $ 130,000 | $ 63,000 |
| Prince Edward, Virginia | 1 | $ 108,000 | $ 108,000 | $ 65,000 |
| Russell, Virginia | 1 | $ 203,000 | $ 203,000 | $ 74,000 |
| Spotsylvania, Virginia | 1 | $ 323,000 | $ 323,000 | $ 257,000 |
| Westmoreland, Virginia | 1 | $ 247,000 | $ 247,000 | $ 95,000 |
Mortgage Loan Application Detail Totals for Essex Savings Bank, FSB in 2003
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 (home purchase or home improvement, one-to-four family) | 564 | $102,549,000 | $392,304 | $1,028,000 | $14,521 | $423,000 |
| Home Purchase (one-to-four family) | 541 | $98,707,000 | $330,437 | $1,000,000 | $9,250 | $452,000 |
| Home Improvement (one-to-four family) | 15 | $2,476,000 | $170,500 | $262,000 | $78,000 | $150,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 858 | $127,616,000 | $119,400 | $1,000,000 | $68,000 | $452,000 |
| Not applicable | 137 | $60,892,000 | $426,800 | $1,028,000 | $0 | $0 |
| Black | 98 | $11,574,000 | $117,666 | $323,000 | $80,833 | $158,000 |
| Hispanic | 11 | $1,166,000 | $101,000 | $174,000 | $42,333 | $88,000 |
| Asian or Pacific Islander | 8 | $844,000 | $114,666 | $285,000 | $72,666 | $211,000 |
| Other | 6 | $1,405,000 | $215,666 | $584,000 | $96,333 | $263,000 |
| American Indian or Alaskan Native | 2 | $235,000 | $117,000 | $167,000 | $56,000 | $87,000 |
| Information not provided by applicant in mail or telephone application | 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) | 883 | $177,844,000 | $386,680 | $1,028,000 | $12,120 | $452,000 |
| FHA-insured (Federal Housing Administration) | 151 | $15,163,000 | $102,000 | $213,000 | $34,000 | $153,000 |
| VA-guaranteed (Veterans Administration) | 86 | $10,725,000 | $126,000 | $231,000 | $38,500 | $131,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 781 | $111,458,000 | $113,200 | $650,000 | $80,400 | $452,000 |
| Loan Purchased By The Institution | 137 | $60,892,000 | $426,800 | $1,028,000 | $0 | $0 |
| Application Denied By Financial Institution | 77 | $10,691,000 | $102,600 | $600,000 | $55,000 | $375,000 |
| Application Approved But Not Accepted | 69 | $14,392,000 | $205,000 | $1,000,000 | $93,500 | $448,000 |
| Application Withdrawn By Applicant | 33 | $3,401,000 | $110,250 | $224,000 | $53,000 | $300,000 |
| File Closed For Incompleteness | 23 | $2,898,000 | $129,500 | $360,000 | $54,000 | $160,000 |
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 | 21 | $3,479,000 | $156,000 | $600,000 | $69,500 | $375,000 |
| Credit History | 19 | $1,865,000 | $105,333 | $198,000 | $64,333 | $110,000 |
| Debt-To-Income Ratio | 19 | $2,335,000 | $85,500 | $358,000 | $34,000 | $89,000 |
| Collateral | 12 | $2,073,000 | $164,000 | $584,000 | $62,000 | $237,000 |
| Other | 5 | $871,000 | $167,000 | $347,000 | $62,666 | $93,000 |
| Employment History | 1 | $68,000 | $68,000 | $68,000 | $25,000 | $25,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 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 Essex Savings Bank, FSB's 2003 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 Essex Savings Bank, FSB'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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