First Federal Savings & Loan Mortgage Lending & HMDA Data, 2009
In 2009, First Federal Savings & Loan of Pascagoula, MS reported 418 mortgage applications totaling $47.8 million, down 38% from 2008. The average application was for $114,270, and applicants reported an average income of $96,014. 66% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Pascagoula, MS (385), Gulfport-Biloxi, MS (18) and Mobile, AL (8) (applications in parentheses).
| Mortgage Company & Address | First Federal Savings & Loan 903 Jackson Avenue Pascagoula, MS 39567 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 | 418 |
| Total Mortgage Loan Application Amount | $47,765,000 |
| Average Mortgage Loan Application Amount | $114,270 |
| Highest Mortgage Loan Application Amount | $701,000 |
| Average Applicant Income | $96,014 |
| Highest Applicant Income | $1,835,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Pascagoula, MS | 385 | $ 43,573,000 | $ 113,176 | $ 97,000 |
| Gulfport-Biloxi, MS | 18 | $ 2,356,000 | $ 130,888 | $ 89,000 |
| Mobile, AL | 8 | $ 903,000 | $ 112,875 | $ 84,000 |
| Hattiesburg, MS | 1 | $ 40,000 | $ 40,000 | $ 20,000 |
Mortgage Loan Application Detail Totals for First Federal Savings & Loan in 2009
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 | 219 | $23,836,000 | $108,000 | $701,000 | $110,000 | $1,835,000 |
| Home Purchase | 156 | $21,762,000 | $139,000 | $360,000 | $83,000 | $378,000 |
| Home Improvement | 43 | $2,167,000 | $50,000 | $190,000 | $72,000 | $190,000 |
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 | 338 | $41,438,000 | $122,000 | $701,000 | $96,000 | $1,835,000 |
| Black or African American | 62 | $4,657,000 | $75,000 | $275,000 | $53,000 | $171,000 |
| Not applicable | 8 | $598,000 | $74,000 | $160,000 | $427,000 | $901,000 |
| Asian | 7 | $870,000 | $124,000 | $360,000 | $126,000 | $593,000 |
| American Indian or Alaskan Native | 1 | $112,000 | $112,000 | $112,000 | $142,000 | $142,000 |
| Hispanic | 1 | $45,000 | $45,000 | $45,000 | $54,000 | $54,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $45,000 | $45,000 | $45,000 | $103,000 | $103,000 |
| 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) | 418 | $47,765,000 | $114,000 | $701,000 | $96,000 | $1,835,000 |
| 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 | 275 | $31,261,000 | $113,000 | $701,000 | $108,000 | $1,835,000 |
| Application Denied By Financial Institution | 69 | $6,537,000 | $94,000 | $275,000 | $61,000 | $378,000 |
| Application Withdrawn By Applicant | 50 | $6,420,000 | $128,000 | $350,000 | $92,000 | $291,000 |
| File Closed For Incompleteness | 21 | $3,107,000 | $147,000 | $360,000 | $74,000 | $130,000 |
| Application Approved But Not Accepted | 3 | $440,000 | $146,000 | $278,000 | $72,000 | $96,000 |
| 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 | 57 | $4,909,000 | $86,000 | $275,000 | $57,000 | $171,000 |
| Debt-To-Income Ratio | 10 | $1,278,000 | $127,000 | $243,000 | $54,000 | $132,000 |
| Mortgage Insurance Denied | 1 | $150,000 | $150,000 | $150,000 | $57,000 | $57,000 |
| Other | 1 | $200,000 | $200,000 | $200,000 | $378,000 | $378,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Federal Savings & Loan's 2009 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 Savings & Loan'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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