First Federal S&L of Lakewood Mortgage Lending & HMDA Data, 2023
In 2023, First Federal S&L of Lakewood of Lakewood, OH reported 2,292 mortgage applications totaling $648.7 million, down 33% from 2022. The average application was for $283,014, and applicants reported an average income of $185,166. 67% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Cleveland-Elyria, OH (1,286), Cincinnati, OH-KY-IN (185) and Columbus, OH (162) (applications in parentheses).
| Mortgage Company & Address | First Federal S&L of Lakewood 14806 Detroit Ave Lakewood, OH 44107 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 2,292 |
| Total Mortgage Loan Application Amount | $648,670,000 |
| Average Mortgage Loan Application Amount | $283,014 |
| Highest Mortgage Loan Application Amount | $10,375,000 |
| Average Applicant Income | $185,166 |
| Highest Applicant Income | $1,503,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Federal S&L of Lakewood filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 First Federal S&L of Lakewood in 2023
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 | 1,570 | $538,920,000 | $343,000 | $4,615,000 | $192,000 | $1,503,000 |
| Other Purpose | 334 | $36,220,000 | $108,000 | $935,000 | $176,000 | $1,247,000 |
| Home Improvement | 185 | $18,875,000 | $102,000 | $605,000 | $162,000 | $670,000 |
| Cash-out Refinancing | 150 | $30,430,000 | $202,000 | $2,505,000 | $180,000 | $1,247,000 |
| Refinancing | 53 | $24,225,000 | $457,000 | $10,375,000 | $136,000 | $372,000 |
| Not Applicable | 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 | 1,370 | $373,450,000 | $272,000 | $1,615,000 | $173,000 | $1,503,000 |
| Not Provided | 380 | $95,870,000 | $252,000 | $1,495,000 | $211,000 | $1,247,000 |
| Not applicable | 320 | $112,550,000 | $351,000 | $10,375,000 | $0 | $0 |
| Black or African American | 73 | $14,835,000 | $203,000 | $1,195,000 | $127,000 | $315,000 |
| Asian | 69 | $23,875,000 | $346,000 | $1,205,000 | $303,000 | $1,247,000 |
| Hispanic | 48 | $14,800,000 | $308,000 | $1,565,000 | $169,000 | $1,046,000 |
| American Indian or Alaskan Native | 6 | $1,250,000 | $208,000 | $505,000 | $196,000 | $486,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $275,000 | $275,000 | $275,000 | $86,000 | $86,000 |
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) | 2,237 | $634,455,000 | $283,000 | $10,375,000 | $187,000 | $1,503,000 |
| FHA-insured (Federal Housing Administration) | 42 | $10,380,000 | $247,000 | $425,000 | $103,000 | $215,000 |
| VA-guaranteed (Veterans Administration) | 12 | $3,700,000 | $308,000 | $675,000 | $113,000 | $252,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $135,000 | $135,000 | $135,000 | $58,000 | $58,000 |
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 | 1,538 | $477,990,000 | $310,000 | $10,375,000 | $195,000 | $1,503,000 |
| Application Withdrawn By Applicant | 279 | $74,295,000 | $266,000 | $1,645,000 | $173,000 | $994,000 |
| Loan Purchased By The Institution | 273 | $67,765,000 | $248,000 | $1,145,000 | $0 | $0 |
| Application Denied By Financial Institution | 136 | $16,040,000 | $117,000 | $1,195,000 | $96,000 | $539,000 |
| File Closed For Incompleteness | 37 | $8,115,000 | $219,000 | $845,000 | $189,000 | $667,000 |
| Application Approved But Not Accepted | 29 | $4,465,000 | $153,000 | $1,025,000 | $175,000 | $679,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 2,156 | $632,630,000 | $293,000 | $10,375,000 | $191,000 | $1,503,000 |
| Credit History | 50 | $4,290,000 | $85,000 | $355,000 | $98,000 | $539,000 |
| Debt-To-Income Ratio | 44 | $5,410,000 | $122,000 | $505,000 | $90,000 | $224,000 |
| Other | 17 | $3,055,000 | $179,000 | $1,195,000 | $104,000 | $270,000 |
| Unverifiable Information | 11 | $1,795,000 | $163,000 | $855,000 | $88,000 | $175,000 |
| Collateral | 10 | $880,000 | $88,000 | $175,000 | $96,000 | $266,000 |
| Credit Application Incomplete | 2 | $250,000 | $125,000 | $155,000 | $199,000 | $248,000 |
| Employment History | 1 | $205,000 | $205,000 | $205,000 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $155,000 | $155,000 | $155,000 | $40,000 | $40,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Federal S&L of Lakewood's 2023 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 Federal S&L of Lakewood'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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