First Federal S&L of Newark Mortgage Lending & HMDA Data, 2005
In 2005, First Federal S&L of Newark of Newark, OH reported 570 mortgage applications totaling $64.9 million, up 18% from 2004. The average application was for $113,805, and applicants reported an average income of $84,550. 79% of its applications resulted in an originated loan and 7% were denied. Its largest market was Columbus, OH (541).
| Mortgage Company & Address | First Federal S&L of Newark 2 North Second Street Newark, OH 43055 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 570 |
| Total Mortgage Loan Application Amount | $64,869,000 |
| Average Mortgage Loan Application Amount | $113,805 |
| Highest Mortgage Loan Application Amount | $1,175,000 |
| Average Applicant Income | $84,550 |
| Highest Applicant Income | $526,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Federal S&L of Newark filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Newark 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 | 272 | $31,487,000 | $115,000 | $664,000 | $101,000 | $523,000 |
| Home Purchase | 252 | $30,182,000 | $119,000 | $1,175,000 | $70,000 | $526,000 |
| Home Improvement | 46 | $3,200,000 | $69,000 | $350,000 | $67,000 | $167,000 |
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 | 506 | $58,380,000 | $115,000 | $1,175,000 | $75,000 | $526,000 |
| Not applicable | 49 | $4,289,000 | $87,000 | $500,000 | $176,000 | $411,000 |
| Black or African American | 7 | $610,000 | $87,000 | $225,000 | $60,000 | $111,000 |
| Asian | 5 | $1,401,000 | $280,000 | $503,000 | $100,000 | $132,000 |
| Hispanic | 3 | $189,000 | $63,000 | $90,000 | $65,000 | $92,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 570 | $64,869,000 | $113,000 | $1,175,000 | $84,000 | $526,000 |
| 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 | 450 | $48,594,000 | $107,000 | $550,000 | $85,000 | $526,000 |
| Application Denied By Financial Institution | 38 | $4,676,000 | $123,000 | $664,000 | $82,000 | $523,000 |
| Application Withdrawn By Applicant | 32 | $4,208,000 | $131,000 | $428,000 | $64,000 | $269,000 |
| Application Approved But Not Accepted | 27 | $3,365,000 | $124,000 | $404,000 | $110,000 | $375,000 |
| File Closed For Incompleteness | 23 | $4,026,000 | $175,000 | $1,175,000 | $73,000 | $298,000 |
| 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 | 20 | $2,053,000 | $102,000 | $240,000 | $74,000 | $249,000 |
| Debt-To-Income Ratio | 11 | $1,872,000 | $170,000 | $664,000 | $138,000 | $523,000 |
| Collateral | 4 | $498,000 | $124,000 | $235,000 | $40,000 | $64,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $104,000 | $104,000 | $104,000 | $34,000 | $34,000 |
| Mortgage Insurance Denied | 1 | $59,000 | $59,000 | $59,000 | $41,000 | $41,000 |
| Other | 1 | $90,000 | $90,000 | $90,000 | $78,000 | $78,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Federal S&L of Newark'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 Federal S&L of Newark'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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