First Continental Mortgage Mortgage Lending & HMDA Data, 2005
In 2005, First Continental Mortgage of Fairfield, NJ reported 6,254 mortgage applications totaling $1.5 billion, up 106% from 2004. The average application was for $234,290, and applicants reported an average income of $85,019. 35% of its applications resulted in an originated loan and 21% were denied. Its largest markets were New York-Wayne-White Plains, NY-NJ (1,355), Nassau-Suffolk, NY (1,093) and Newark-Union, NJ-PA (333) (applications in parentheses).
| Mortgage Company & Address | First Continental Mortgage 155 Passaic Avenue Fairfield, NJ 07004 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 2003 |
| Total Number of Mortgage Applications | 6,254 |
| Total Mortgage Loan Application Amount | $1,465,254,000 |
| Average Mortgage Loan Application Amount | $234,290 |
| Highest Mortgage Loan Application Amount | $5,856,000 |
| Average Applicant Income | $85,019 |
| Highest Applicant Income | $4,950,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Continental Mortgage filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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-Wayne-White Plains, NY-NJ | 1,355 | $ 429,114,000 | $ 316,689 | $ 100,000 |
| Nassau-Suffolk, NY | 1,093 | $ 293,480,000 | $ 268,508 | $ 100,000 |
| Newark-Union, NJ-PA | 333 | $ 77,613,000 | $ 233,072 | $ 137,000 |
| Edison, NJ | 280 | $ 68,801,000 | $ 245,717 | $ 90,000 |
| Camden, NJ | 143 | $ 22,716,000 | $ 158,853 | $ 61,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 125 | $ 26,495,000 | $ 211,960 | $ 84,000 |
| Philadelphia, PA | 121 | $ 20,846,000 | $ 172,280 | $ 74,000 |
| Scranton--Wilkes-Barre, PA | 118 | $ 12,769,000 | $ 108,211 | $ 53,000 |
| Baltimore-Towson, MD | 114 | $ 20,052,000 | $ 175,894 | $ 69,000 |
| Providence-New Bedford-Fall River, RI-MA | 76 | $ 13,297,000 | $ 174,960 | $ 74,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 73 | $ 13,543,000 | $ 185,520 | $ 76,000 |
| Pittsburgh, PA | 68 | $ 8,349,000 | $ 122,779 | $ 68,000 |
| Tampa-St. Petersburg-Clearwater, FL | 66 | $ 8,204,000 | $ 124,303 | $ 59,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 65 | $ 10,017,000 | $ 154,107 | $ 151,000 |
| Orlando, FL | 60 | $ 8,924,000 | $ 148,733 | $ 94,000 |
| Hartford-West Hartford-East Hartford, CT | 59 | $ 9,287,000 | $ 157,406 | $ 100,000 |
| Miami-Miami Beach-Kendall, FL | 59 | $ 12,551,000 | $ 212,728 | $ 113,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 56 | $ 11,550,000 | $ 206,250 | $ 94,000 |
| Boston-Quincy, MA | 54 | $ 15,105,000 | $ 279,722 | $ 78,000 |
| Bridgeport-Stamford-Norwalk, CT | 54 | $ 13,163,000 | $ 243,759 | $ 102,000 |
| Albany-Schenectady-Troy, NY | 51 | $ 7,112,000 | $ 139,450 | $ 70,000 |
| Bethesda-Frederick-Gaithersburg, MD | 51 | $ 13,058,000 | $ 256,039 | $ 107,000 |
| Atlanta-Sandy Springs-Marietta, GA | 46 | $ 7,284,000 | $ 158,347 | $ 82,000 |
| Cambridge-Newton-Framingham, MA | 46 | $ 10,106,000 | $ 219,695 | $ 94,000 |
| Worcester, MA | 46 | $ 8,628,000 | $ 187,565 | $ 64,000 |
| Atlantic City, NJ | 45 | $ 7,683,000 | $ 170,733 | $ 56,000 |
| New Haven-Milford, CT | 45 | $ 7,602,000 | $ 168,933 | $ 57,000 |
| Richmond, VA | 39 | $ 5,156,000 | $ 132,205 | $ 45,000 |
| Buffalo-Niagara Falls, NY | 38 | $ 4,245,000 | $ 111,710 | $ 61,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 35 | $ 4,711,000 | $ 134,600 | $ 51,000 |
| Rochester, NY | 30 | $ 4,542,000 | $ 151,400 | $ 88,000 |
| Port St. Lucie-Fort Pierce, FL | 28 | $ 3,988,000 | $ 142,428 | $ 63,000 |
| Trenton-Ewing, NJ | 27 | $ 4,105,000 | $ 152,037 | $ 51,000 |
| Naples-Marco Island, FL | 24 | $ 5,240,000 | $ 218,333 | $ 53,000 |
| Jacksonville, FL | 22 | $ 3,316,000 | $ 150,727 | $ 103,000 |
| Oakland-Fremont-Hayward, CA | 22 | $ 6,600,000 | $ 300,000 | $ 125,000 |
| Springfield, MA | 22 | $ 2,840,000 | $ 129,090 | $ 75,000 |
| Lakeland, FL | 21 | $ 2,980,000 | $ 141,904 | $ 78,000 |
| Charlotte-Gastonia-Concord, NC-SC | 18 | $ 2,094,000 | $ 116,333 | $ 58,000 |
| Essex County, MA | 18 | $ 4,145,000 | $ 230,277 | $ 66,000 |
| Los Angeles-Long Beach-Glendale, CA | 18 | $ 5,892,000 | $ 327,333 | $ 87,000 |
| Cape Coral-Fort Myers, FL | 17 | $ 2,879,000 | $ 169,352 | $ 79,000 |
| Reading, PA | 17 | $ 1,933,000 | $ 113,705 | $ 44,000 |
| Vineland-Millville-Bridgeton, NJ | 17 | $ 2,477,000 | $ 145,705 | $ 58,000 |
| Winchester, VA-WV | 17 | $ 3,318,000 | $ 195,176 | $ 72,000 |
| Riverside-San Bernardino-Ontario, CA | 16 | $ 3,458,000 | $ 216,125 | $ 84,000 |
| York-Hanover, PA | 15 | $ 2,173,000 | $ 144,866 | $ 66,000 |
| Dover, DE | 14 | $ 1,876,000 | $ 134,000 | $ 87,000 |
| Norwich-New London, CT | 14 | $ 2,142,000 | $ 153,000 | $ 59,000 |
| Ocean City, NJ | 14 | $ 2,775,000 | $ 198,214 | $ 86,000 |
| Barnstable Town, MA | 13 | $ 2,761,000 | $ 212,384 | $ 89,000 |
| Greensboro-High Point, NC | 12 | $ 1,169,000 | $ 97,416 | $ 43,000 |
| Kingston, NY | 12 | $ 2,110,000 | $ 175,833 | $ 81,000 |
| Palm Bay-Melbourne-Titusville, FL | 11 | $ 1,948,000 | $ 177,090 | $ 83,000 |
| Syracuse, NY | 11 | $ 1,688,000 | $ 153,454 | $ 62,000 |
| Wilmington, DE-MD-NJ | 11 | $ 1,393,000 | $ 126,636 | $ 50,000 |
| Hagerstown-Martinsburg, MD-WV | 8 | $ 1,320,000 | $ 165,000 | $ 39,000 |
| Salisbury, MD | 8 | $ 927,000 | $ 115,875 | $ 55,000 |
| Sarasota-Bradenton-Venice, FL | 8 | $ 2,417,000 | $ 302,125 | $ 90,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 7 | $ 1,143,000 | $ 163,285 | $ 75,000 |
| Harrisburg-Carlisle, PA | 7 | $ 969,000 | $ 138,428 | $ 53,000 |
| Pensacola-Ferry Pass-Brent, FL | 7 | $ 1,067,000 | $ 152,428 | $ 202,000 |
| Raleigh-Cary, NC | 7 | $ 1,742,000 | $ 248,857 | $ 103,000 |
| Utica-Rome, NY | 7 | $ 739,000 | $ 105,571 | $ 21,000 |
| Binghamton, NY | 5 | $ 577,000 | $ 115,400 | $ 68,000 |
| Durham, NC | 5 | $ 786,000 | $ 157,200 | $ 58,000 |
| Ocala, FL | 5 | $ 1,131,000 | $ 226,200 | $ 70,000 |
| Roanoke, VA | 5 | $ 810,000 | $ 162,000 | $ 61,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 5 | $ 994,000 | $ 198,800 | $ 102,000 |
| Elmira, NY | 4 | $ 436,000 | $ 109,000 | $ 51,000 |
| Glens Falls, NY | 4 | $ 674,000 | $ 168,500 | $ 71,000 |
| Lancaster, PA | 4 | $ 560,000 | $ 140,000 | $ 31,000 |
| San Diego-Carlsbad-San Marcos, CA | 4 | $ 3,890,000 | $ 972,500 | $ 79,000 |
| Vero Beach, FL | 4 | $ 516,000 | $ 129,000 | $ 82,000 |
| Burlington, NC | 3 | $ 262,000 | $ 87,333 | $ 53,000 |
| Denver-Aurora, CO | 3 | $ 596,000 | $ 198,666 | $ 44,000 |
| Jacksonville, NC | 3 | $ 290,000 | $ 96,666 | $ 78,000 |
| Panama City-Lynn Haven, FL | 3 | $ 652,000 | $ 217,333 | $ 138,000 |
| Pittsfield, MA | 3 | $ 754,000 | $ 251,333 | $ 101,000 |
| Punta Gorda, FL | 3 | $ 575,000 | $ 191,666 | $ 74,000 |
| Savannah, GA | 3 | $ 743,000 | $ 247,666 | $ 93,000 |
| Vallejo-Fairfield, CA | 3 | $ 1,448,000 | $ 482,666 | $ 667,000 |
| Williamsport, PA | 3 | $ 279,000 | $ 93,000 | $ 42,000 |
| Athens-Clarke County, GA | 2 | $ 178,000 | $ 89,000 | $ 20,000 |
| Bakersfield, CA | 2 | $ 638,000 | $ 319,000 | $ 81,000 |
| Colorado Springs, CO | 2 | $ 450,000 | $ 225,000 | $ 74,000 |
| Columbus, GA-AL | 2 | $ 215,000 | $ 107,500 | $ 51,000 |
| Dalton, GA | 2 | $ 200,000 | $ 100,000 | $ 78,000 |
| Erie, PA | 2 | $ 223,000 | $ 111,500 | $ 61,000 |
| Gainesville, FL | 2 | $ 360,000 | $ 180,000 | $ 56,000 |
| Harrisonburg, VA | 2 | $ 316,000 | $ 158,000 | $ 45,000 |
| Johnstown, PA | 2 | $ 1,099,000 | $ 549,500 | $ 60,000 |
| Lynchburg, VA | 2 | $ 194,000 | $ 97,000 | $ 35,000 |
| Manchester-Nashua, NH | 2 | $ 396,000 | $ 198,000 | $ 71,000 |
| San Francisco-San Mateo-Redwood City, CA | 2 | $ 390,000 | $ 195,000 | $ 78,000 |
| Santa Ana-Anaheim-Irvine, CA | 2 | $ 535,000 | $ 267,500 | $ 98,000 |
| State College, PA | 2 | $ 362,000 | $ 181,000 | $ 25,000 |
| Winston-Salem, NC | 2 | $ 155,000 | $ 77,500 | $ 48,000 |
| Asheville, NC | 1 | $ 140,000 | $ 140,000 | $ 60,000 |
| Brunswick, GA | 1 | $ 167,000 | $ 167,000 | $ 56,000 |
| Columbia, SC | 1 | $ 113,000 | $ 113,000 | $ 0 |
| Cumberland, MD-WV | 1 | $ 90,000 | $ 90,000 | $ 0 |
| Danville, VA | 1 | $ 122,000 | $ 122,000 | $ 176,000 |
| Fayetteville, NC | 1 | $ 131,000 | $ 131,000 | $ 48,000 |
| Greenville, NC | 1 | $ 303,000 | $ 303,000 | $ 240,000 |
| Ithaca, NY | 1 | $ 172,000 | $ 172,000 | $ 0 |
| Lebanon, PA | 1 | $ 125,000 | $ 125,000 | $ 84,000 |
| Salinas, CA | 1 | $ 418,000 | $ 418,000 | $ 63,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 1 | $ 611,000 | $ 611,000 | $ 138,000 |
| Stockton, CA | 1 | $ 349,000 | $ 349,000 | $ 86,000 |
| Sumter, SC | 1 | $ 60,000 | $ 60,000 | $ 0 |
| Tallahassee, FL | 1 | $ 162,000 | $ 162,000 | $ 156,000 |
| Visalia-Porterville, CA | 1 | $ 204,000 | $ 204,000 | $ 75,000 |
| Wilmington, NC | 1 | $ 154,000 | $ 154,000 | $ 31,000 |
Mortgage Loan Application Detail Totals for First Continental Mortgage in 2005
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 | 4,846 | $1,078,931,000 | $184,062 | $2,500,000 | $71,437 | $4,950,000 |
| Home Purchase | 1,389 | $381,966,000 | $206,066 | $5,856,000 | $77,200 | $1,345,000 |
| Home Improvement | 19 | $4,357,000 | $193,285 | $415,000 | $59,000 | $185,000 |
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 | 2,652 | $583,306,000 | $191,533 | $960,000 | $74,466 | $1,740,000 |
| Black or African American | 1,282 | $300,517,000 | $183,692 | $848,000 | $92,153 | $2,700,000 |
| Hispanic | 1,106 | $269,269,000 | $191,928 | $5,856,000 | $75,642 | $4,950,000 |
| Not Provided | 1,029 | $264,048,000 | $215,133 | $2,500,000 | $66,666 | $751,000 |
| Asian | 143 | $38,286,000 | $222,800 | $650,000 | $84,100 | $285,000 |
| American Indian or Alaskan Native | 21 | $4,695,000 | $209,666 | $436,000 | $171,500 | $545,000 |
| Native Hawaiian or Other Pacific Islander | 21 | $5,133,000 | $197,142 | $650,000 | $92,857 | $200,000 |
| 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) | 6,254 | $1,465,254,000 | $186,375 | $5,856,000 | $72,687 | $4,950,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 2,699 | $641,845,000 | $189,687 | $1,640,000 | $74,312 | $2,016,000 |
| Loan Originated | 2,213 | $499,921,000 | $182,428 | $655,000 | $80,571 | $726,000 |
| Application Denied By Financial Institution | 1,334 | $321,561,000 | $192,125 | $5,856,000 | $71,812 | $4,950,000 |
| Application Approved But Not Accepted | 8 | $1,927,000 | $209,800 | $506,000 | $97,200 | $252,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 481 | $116,195,000 | $220,923 | $2,500,000 | $80,384 | $801,000 |
| Credit History | 343 | $84,942,000 | $192,428 | $5,856,000 | $68,357 | $2,700,000 |
| Employment History | 195 | $46,357,000 | $192,818 | $600,000 | $74,090 | $300,000 |
| Debt-To-Income Ratio | 170 | $42,409,000 | $205,000 | $611,000 | $73,692 | $230,000 |
| Unverifiable Information | 97 | $20,775,000 | $180,923 | $680,000 | $78,230 | $334,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 23 | $4,372,000 | $174,200 | $450,000 | $45,600 | $112,000 |
| Credit Application Incomplete | 7 | $2,096,000 | $243,600 | $497,000 | $54,200 | $120,000 |
| Mortgage Insurance Denied | 1 | $120,000 | $120,000 | $120,000 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Continental Mortgage's 2005 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 First Continental Mortgage'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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