Farmers & Mechanics Bank Mortgage Lending & HMDA Data, 2004
In 2004, Farmers & Mechanics Bank of Burlington, NJ reported 565 mortgage applications totaling $58.4 million, down 44% from 2003. The average application was for $103,431, and applicants reported an average income of $75,026. 75% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Camden, NJ (544), Trenton-Ewing, NJ (6) and Atlantic City, NJ (5) (applications in parentheses).
| Mortgage Company & Address | Farmers & Mechanics Bank 3 Sunset Road Burlington, NJ 08016 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 565 |
| Total Mortgage Loan Application Amount | $58,439,000 |
| Average Mortgage Loan Application Amount | $103,431 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $75,026 |
| Highest Applicant Income | $663,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Farmers & Mechanics Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Camden, NJ | 544 | $ 54,040,000 | $ 99,338 | $ 65,000 |
| Trenton-Ewing, NJ | 6 | $ 1,380,000 | $ 230,000 | $ 145,000 |
| Atlantic City, NJ | 5 | $ 954,000 | $ 190,800 | $ 138,000 |
| Ocean City, NJ | 4 | $ 1,175,000 | $ 293,750 | $ 135,000 |
| Edison, NJ | 2 | $ 328,000 | $ 164,000 | $ 35,000 |
| Philadelphia, PA | 2 | $ 241,000 | $ 120,500 | $ 198,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 1 | $ 237,000 | $ 237,000 | $ 79,000 |
Mortgage Loan Application Detail Totals for Farmers & Mechanics Bank 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 |
|---|---|---|---|---|---|---|
| Refinancing | 294 | $31,631,000 | $133,500 | $720,000 | $72,500 | $663,000 |
| Home Purchase | 148 | $22,428,000 | $135,500 | $1,500,000 | $138,000 | $513,000 |
| Home Improvement | 123 | $4,380,000 | $35,000 | $370,000 | $72,000 | $264,000 |
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 | 503 | $51,467,000 | $121,000 | $800,000 | $109,000 | $663,000 |
| Black or African American | 32 | $2,220,000 | $69,000 | $268,000 | $57,000 | $139,000 |
| Not applicable | 11 | $3,359,000 | $305,000 | $1,500,000 | $53,000 | $321,000 |
| Asian | 10 | $1,090,000 | $109,000 | $260,000 | $82,000 | $144,000 |
| Hispanic | 8 | $278,000 | $34,000 | $120,000 | $50,000 | $77,000 |
| Not Provided | 1 | $25,000 | $25,000 | $25,000 | $23,000 | $23,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 565 | $58,439,000 | $121,500 | $1,500,000 | $105,000 | $663,000 |
| 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 | 423 | $44,628,000 | $112,500 | $1,500,000 | $146,500 | $663,000 |
| Application Denied By Financial Institution | 65 | $4,306,000 | $74,500 | $240,000 | $61,500 | $432,000 |
| Application Withdrawn By Applicant | 57 | $6,186,000 | $108,000 | $720,000 | $56,000 | $379,000 |
| Application Approved But Not Accepted | 14 | $2,287,000 | $163,000 | $800,000 | $77,000 | $252,000 |
| File Closed For Incompleteness | 6 | $1,032,000 | $198,000 | $268,000 | $70,500 | $119,000 |
| 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 | 32 | $2,328,000 | $72,000 | $222,000 | $57,000 | $166,000 |
| Other | 13 | $797,000 | $71,500 | $222,000 | $75,000 | $432,000 |
| Debt-To-Income Ratio | 7 | $613,000 | $87,000 | $240,000 | $44,000 | $70,000 |
| Collateral | 6 | $85,000 | $14,000 | $40,000 | $57,000 | $94,000 |
| Credit Application Incomplete | 5 | $393,000 | $78,000 | $140,000 | $45,000 | $85,000 |
| Unverifiable Information | 1 | $85,000 | $85,000 | $85,000 | $87,000 | $87,000 |
| Employment History | 1 | $5,000 | $5,000 | $5,000 | $70,000 | $70,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Mechanics Bank'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 Farmers & Mechanics 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.
For a list of all lenders in New Jersey, download the full spreadsheet
with aggregated HMDA statistics today.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About