Fairfield Financial Mortgage Lending & HMDA Data, 2007
In 2007, Fairfield Financial of Danbury, CT reported 2,296 mortgage applications totaling $610.2 million, down 12% from 2006. The average application was for $265,748, and applicants reported an average income of $88,361. 37% of its applications resulted in an originated loan and 26% were denied. Its largest markets were New York-White Plains-Wayne, NY-NJ (275), Providence-New Bedford-Fall River, RI-MA (254) and Boston-Quincy, MA (195) (applications in parentheses).
| Mortgage Company & Address | Fairfield Financial 2 National Place Danbury, CT 06810 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 |
| Total Number of Mortgage Applications | 2,296 |
| Total Mortgage Loan Application Amount | $610,159,000 |
| Average Mortgage Loan Application Amount | $265,748 |
| Highest Mortgage Loan Application Amount | $2,324,000 |
| Average Applicant Income | $88,361 |
| Highest Applicant Income | $1,020,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Fairfield Financial filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| New York-White Plains-Wayne, NY-NJ | 275 | $ 104,397,000 | $ 379,625 | $ 113,520 |
| Providence-New Bedford-Fall River, RI-MA | 254 | $ 60,323,000 | $ 237,492 | $ 80,322 |
| Boston-Quincy, MA | 195 | $ 59,319,000 | $ 304,200 | $ 82,000 |
| Nassau-Suffolk, NY | 134 | $ 45,841,000 | $ 342,097 | $ 110,000 |
| Bridgeport-Stamford-Norwalk, CT | 106 | $ 32,838,000 | $ 309,792 | $ 101,000 |
| New Haven-Milford, CT | 101 | $ 20,328,000 | $ 201,267 | $ 88,000 |
| Cambridge-Newton-Framingham, MA | 80 | $ 24,248,000 | $ 303,100 | $ 76,000 |
| Hartford-West Hartford-East Hartford, CT | 74 | $ 15,575,000 | $ 210,472 | $ 82,000 |
| Worcester, MA | 65 | $ 15,694,000 | $ 241,446 | $ 84,000 |
| Camden, NJ | 55 | $ 11,158,000 | $ 202,872 | $ 68,000 |
| Peabody, MA | 54 | $ 14,267,000 | $ 264,203 | $ 70,000 |
| Pittsburgh, PA | 53 | $ 5,894,000 | $ 111,207 | $ 71,000 |
| Newark-Union, NJ-PA | 50 | $ 15,466,000 | $ 309,320 | $ 97,220 |
| Scranton--Wilkes-Barre, PA | 43 | $ 4,303,000 | $ 100,069 | $ 52,000 |
| Philadelphia, PA | 42 | $ 8,613,000 | $ 205,071 | $ 74,000 |
| Springfield, MA | 42 | $ 7,752,000 | $ 184,571 | $ 68,000 |
| Edison, NJ | 39 | $ 11,318,000 | $ 290,205 | $ 90,000 |
| Orlando-Kissimmee, FL | 35 | $ 7,598,000 | $ 217,085 | $ 73,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 34 | $ 8,709,000 | $ 256,147 | $ 87,000 |
| Los Angeles-Long Beach-Glendale, CA | 32 | $ 12,466,000 | $ 389,562 | $ 97,000 |
| Riverside-San Bernardino-Ontario, CA | 32 | $ 9,610,000 | $ 300,312 | $ 115,000 |
| Atlanta-Sandy Springs-Marietta, GA | 23 | $ 5,679,000 | $ 246,913 | $ 102,000 |
| Baltimore-Towson, MD | 15 | $ 3,751,000 | $ 250,066 | $ 82,000 |
| Rockingham County-Strafford County, NH | 15 | $ 3,592,000 | $ 239,466 | $ 88,000 |
| Tampa-St. Petersburg-Clearwater, FL | 15 | $ 3,251,000 | $ 216,733 | $ 97,000 |
| Norwich-New London, CT | 14 | $ 3,144,000 | $ 224,571 | $ 76,000 |
| Miami-Miami Beach-Kendall, FL | 13 | $ 3,778,000 | $ 290,615 | $ 82,000 |
| Wilmington, DE-MD-NJ | 13 | $ 3,049,000 | $ 234,538 | $ 57,692 |
| Manchester-Nashua, NH | 12 | $ 2,772,000 | $ 231,000 | $ 66,000 |
| San Diego-Carlsbad-San Marcos, CA | 12 | $ 4,513,000 | $ 376,083 | $ 166,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 11 | $ 5,640,000 | $ 512,727 | $ 53,000 |
| Atlantic City, NJ | 10 | $ 2,460,000 | $ 246,000 | $ 103,000 |
| Warren-Troy-Farmington Hills, MI | 10 | $ 7,529,000 | $ 752,900 | $ 562,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 10 | $ 2,116,000 | $ 211,600 | $ 72,800 |
| Barnstable Town, MA | 9 | $ 2,354,000 | $ 261,555 | $ 78,000 |
| Cape Coral-Fort Myers, FL | 8 | $ 1,070,000 | $ 133,750 | $ 52,000 |
| Dallas-Plano-Irving, TX | 8 | $ 1,591,000 | $ 198,875 | $ 123,000 |
| Houston-Sugar Land-Baytown, TX | 8 | $ 741,000 | $ 92,625 | $ 96,000 |
| Palm Bay-Melbourne-Titusville, FL | 8 | $ 1,418,000 | $ 177,250 | $ 78,000 |
| Kingston, NY | 7 | $ 1,293,000 | $ 184,714 | $ 65,000 |
| York-Hanover, PA | 7 | $ 1,355,000 | $ 193,571 | $ 63,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 6 | $ 826,000 | $ 137,666 | $ 66,000 |
| Fort Worth-Arlington, TX | 6 | $ 2,529,000 | $ 421,500 | $ 104,000 |
| Vineland-Millville-Bridgeton, NJ | 6 | $ 883,000 | $ 147,166 | $ 62,000 |
| Albany-Schenectady-Troy, NY | 5 | $ 851,000 | $ 170,200 | $ 49,000 |
| Bethesda-Gaithersburg-Frederick, MD | 5 | $ 1,312,000 | $ 262,400 | $ 65,000 |
| Jacksonville, FL | 5 | $ 1,170,000 | $ 234,000 | $ 67,000 |
| Reading, PA | 5 | $ 1,167,000 | $ 233,400 | $ 81,000 |
| Sarasota-Bradenton-Venice, FL | 5 | $ 911,000 | $ 182,200 | $ 96,000 |
| Syracuse, NY | 5 | $ 332,000 | $ 66,400 | $ 54,000 |
| Detroit-Livonia-Dearborn, MI | 4 | $ 678,000 | $ 169,500 | $ 78,000 |
| Harrisburg-Carlisle, PA | 4 | $ 798,000 | $ 199,500 | $ 48,000 |
| Ocala, FL | 4 | $ 839,000 | $ 209,750 | $ 33,000 |
| Port St. Lucie, FL | 4 | $ 877,000 | $ 219,250 | $ 37,000 |
| Portland-South Portland-Biddeford, ME | 4 | $ 727,000 | $ 181,750 | $ 42,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 4 | $ 775,000 | $ 193,750 | $ 93,000 |
| Austin-Round Rock, TX | 3 | $ 576,000 | $ 192,000 | $ 127,000 |
| Binghamton, NY | 3 | $ 187,000 | $ 62,333 | $ 61,000 |
| Lakeland, FL | 3 | $ 632,000 | $ 210,666 | $ 52,000 |
| Ocean City, NJ | 3 | $ 861,000 | $ 287,000 | $ 105,000 |
| Pensacola-Ferry Pass-Brent, FL | 3 | $ 288,000 | $ 96,000 | $ 41,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 3 | $ 750,000 | $ 250,000 | $ 74,000 |
| Bakersfield, CA | 2 | $ 540,000 | $ 270,000 | $ 67,000 |
| Charlotte-Gastonia-Concord, NC-SC | 2 | $ 295,000 | $ 147,500 | $ 55,000 |
| Chattanooga, TN-GA | 2 | $ 105,000 | $ 52,500 | $ 18,000 |
| Columbus, OH | 2 | $ 406,000 | $ 203,000 | $ 148,000 |
| Grand Rapids-Wyoming, MI | 2 | $ 230,000 | $ 115,000 | $ 42,000 |
| Hagerstown-Martinsburg, MD-WV | 2 | $ 420,000 | $ 210,000 | $ 51,000 |
| Lancaster, PA | 2 | $ 307,000 | $ 153,500 | $ 48,000 |
| Macon, GA | 2 | $ 800,000 | $ 400,000 | $ 288,000 |
| Modesto, CA | 2 | $ 690,000 | $ 345,000 | $ 174,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC | 2 | $ 350,000 | $ 175,000 | $ 24,000 |
| Naples-Marco Island, FL | 2 | $ 490,000 | $ 245,000 | $ 49,000 |
| Palm Coast, FL | 2 | $ 473,000 | $ 236,500 | $ 64,000 |
| San Antonio, TX | 2 | $ 179,000 | $ 89,500 | $ 29,000 |
| Savannah, GA | 2 | $ 194,000 | $ 97,000 | $ 68,000 |
| Trenton-Ewing, NJ | 2 | $ 602,000 | $ 301,000 | $ 141,000 |
| Akron, OH | 1 | $ 130,000 | $ 130,000 | $ 36,000 |
| Athens-Clarke County, GA | 1 | $ 216,000 | $ 216,000 | $ 300,000 |
| Beaumont-Port Arthur, TX | 1 | $ 110,000 | $ 110,000 | $ 54,000 |
| Buffalo-Niagara Falls, NY | 1 | $ 97,000 | $ 97,000 | $ 47,000 |
| Cleveland-Elyria-Mentor, OH | 1 | $ 22,000 | $ 22,000 | $ 48,000 |
| Corpus Christi, TX | 1 | $ 114,000 | $ 114,000 | $ 39,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 1 | $ 200,000 | $ 200,000 | $ 58,000 |
| Elmira, NY | 1 | $ 184,000 | $ 184,000 | $ 60,000 |
| Fresno, CA | 1 | $ 142,000 | $ 142,000 | $ 0 |
| Gainesville, FL | 1 | $ 135,000 | $ 135,000 | $ 75,000 |
| Gainesville, GA | 1 | $ 171,000 | $ 171,000 | $ 60,000 |
| Glens Falls, NY | 1 | $ 162,000 | $ 162,000 | $ 0 |
| Greenville-Mauldin-Easley, SC | 1 | $ 128,000 | $ 128,000 | $ 57,000 |
| Johnson City, TN | 1 | $ 68,000 | $ 68,000 | $ 42,000 |
| Johnstown, PA | 1 | $ 142,000 | $ 142,000 | $ 78,000 |
| Lansing-East Lansing, MI | 1 | $ 120,000 | $ 120,000 | $ 33,000 |
| Lewiston-Auburn, ME | 1 | $ 110,000 | $ 110,000 | $ 35,000 |
| McAllen-Edinburg-Mission, TX | 1 | $ 200,000 | $ 200,000 | $ 0 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 460,000 | $ 460,000 | $ 0 |
| Panama City-Lynn Haven, FL | 1 | $ 75,000 | $ 75,000 | $ 27,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 174,000 | $ 174,000 | $ 63,000 |
| Pittsfield, MA | 1 | $ 164,000 | $ 164,000 | $ 46,000 |
| Portland-Vancouver-Beaverton, OR-WA | 1 | $ 216,000 | $ 216,000 | $ 0 |
| Punta Gorda, FL | 1 | $ 92,000 | $ 92,000 | $ 31,000 |
| Raleigh-Cary, NC | 1 | $ 100,000 | $ 100,000 | $ 35,000 |
| Richmond, VA | 1 | $ 230,000 | $ 230,000 | $ 66,000 |
| Rochester, NY | 1 | $ 40,000 | $ 40,000 | $ 108,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 1 | $ 265,000 | $ 265,000 | $ 80,000 |
| San Luis Obispo-Paso Robles, CA | 1 | $ 270,000 | $ 270,000 | $ 287,000 |
| Santa Ana-Anaheim-Irvine, CA | 1 | $ 260,000 | $ 260,000 | $ 90,000 |
| Stockton, CA | 1 | $ 650,000 | $ 650,000 | $ 77,000 |
| Toledo, OH | 1 | $ 134,000 | $ 134,000 | $ 45,000 |
| Utica-Rome, NY | 1 | $ 417,000 | $ 417,000 | $ 131,000 |
| Valdosta, GA | 1 | $ 92,000 | $ 92,000 | $ 50,000 |
| Warner Robins, GA | 1 | $ 148,000 | $ 148,000 | $ 45,000 |
| Williamsport, PA | 1 | $ 99,000 | $ 99,000 | $ 40,000 |
Mortgage Loan Application Detail Totals for Fairfield Financial in 2007
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 | 1,459 | $381,675,000 | $261,000 | $1,430,000 | $81,000 | $492,000 |
| Home Purchase | 836 | $228,264,000 | $273,000 | $2,324,000 | $101,000 | $1,020,000 |
| Home Improvement | 1 | $220,000 | $220,000 | $220,000 | $262,000 | $262,000 |
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 | 814 | $198,147,000 | $243,000 | $1,388,000 | $90,000 | $977,000 |
| Not Provided | 792 | $212,960,000 | $268,000 | $2,324,000 | $90,000 | $1,020,000 |
| Black or African American | 343 | $99,197,000 | $289,000 | $1,750,000 | $81,000 | $367,000 |
| Hispanic | 299 | $84,042,000 | $281,000 | $1,000,000 | $87,000 | $459,000 |
| Asian | 38 | $12,820,000 | $337,000 | $975,000 | $107,000 | $293,000 |
| American Indian or Alaskan Native | 5 | $1,186,000 | $237,000 | $453,000 | $79,000 | $255,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $1,807,000 | $361,000 | $656,000 | $97,000 | $185,000 |
| 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) | 1,650 | $455,732,000 | $276,000 | $2,324,000 | $95,000 | $1,020,000 |
| FHA-insured (Federal Housing Administration) | 640 | $153,232,000 | $239,000 | $553,000 | $73,000 | $263,000 |
| VA-guaranteed (Veterans Administration) | 6 | $1,195,000 | $199,000 | $330,000 | $56,000 | $72,000 |
| 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 | 844 | $210,495,000 | $249,000 | $1,000,000 | $81,000 | $459,000 |
| Application Denied By Financial Institution | 589 | $159,759,000 | $271,000 | $1,750,000 | $87,000 | $936,000 |
| Application Approved But Not Accepted | 535 | $147,690,000 | $276,000 | $1,388,000 | $96,000 | $977,000 |
| Application Withdrawn By Applicant | 314 | $88,927,000 | $283,000 | $2,324,000 | $103,000 | $1,020,000 |
| File Closed For Incompleteness | 14 | $3,288,000 | $234,000 | $530,000 | $67,000 | $170,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 255 | $63,396,000 | $248,000 | $966,000 | $75,000 | $397,000 |
| Debt-To-Income Ratio | 103 | $29,965,000 | $290,000 | $648,000 | $74,000 | $348,000 |
| Other | 95 | $28,424,000 | $299,000 | $1,750,000 | $97,000 | $300,000 |
| Collateral | 60 | $14,782,000 | $246,000 | $588,000 | $87,000 | $336,000 |
| Unverifiable Information | 33 | $11,148,000 | $337,000 | $1,430,000 | $112,000 | $400,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 21 | $5,984,000 | $284,000 | $1,500,000 | $164,000 | $936,000 |
| Employment History | 17 | $4,697,000 | $276,000 | $508,000 | $128,000 | $456,000 |
| Credit Application Incomplete | 4 | $1,168,000 | $292,000 | $492,000 | $60,000 | $90,000 |
| Mortgage Insurance Denied | 1 | $195,000 | $195,000 | $195,000 | $246,000 | $246,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Fairfield Financial's 2007 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 Fairfield Financial'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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