First Residential Mortgage Ser Mortgage Lending & HMDA Data, 2012
In 2012, First Residential Mortgage Ser of Englewood Cliffs, NJ reported 1,628 mortgage applications totaling $453.0 million, up 25% from 2011. The average application was for $278,225, and applicants reported an average income of $79,823. 56% of its applications resulted in an originated loan and 22% were denied. Its largest markets were New York-White Plains-Wayne, NY-NJ (1,059), Newark-Union, NJ-PA (191) and Orlando-Kissimmee-Sanford, FL (158) (applications in parentheses).
| Mortgage Company & Address | First Residential Mortgage Ser 570 Sylvan Avenue Englewood Cliffs, NJ 07632 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2012 2011 |
| Total Number of Mortgage Applications | 1,628 |
| Total Mortgage Loan Application Amount | $452,951,000 |
| Average Mortgage Loan Application Amount | $278,225 |
| Highest Mortgage Loan Application Amount | $1,126,000 |
| Average Applicant Income | $79,823 |
| Highest Applicant Income | $1,511,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Residential Mortgage Ser filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Queens, New York | 258 | $ 96,125,000 | $ 372,577 | $ 76,000 |
| Hudson, New Jersey | 208 | $ 48,929,000 | $ 235,235 | $ 69,000 |
| Kings, New York | 190 | $ 87,521,000 | $ 460,636 | $ 98,000 |
| Passaic, New Jersey | 163 | $ 35,627,000 | $ 218,570 | $ 65,000 |
| Bergen, New Jersey | 140 | $ 41,886,000 | $ 299,185 | $ 91,000 |
| Essex, New Jersey | 100 | $ 21,869,000 | $ 218,690 | $ 82,000 |
| Orange, Florida | 89 | $ 11,882,000 | $ 133,505 | $ 50,000 |
| Bronx, New York | 79 | $ 30,905,000 | $ 391,202 | $ 83,000 |
| Union, New Jersey | 65 | $ 11,998,000 | $ 184,584 | $ 69,000 |
| Osceola, Florida | 57 | $ 6,829,000 | $ 119,807 | $ 42,000 |
| Broward, Florida | 49 | $ 9,399,000 | $ 191,816 | $ 91,000 |
| Miami-Dade, Florida | 34 | $ 6,446,000 | $ 189,588 | $ 96,000 |
| Duval, Florida | 29 | $ 2,104,000 | $ 72,551 | $ 174,000 |
| Nassau, New York | 25 | $ 7,968,000 | $ 318,720 | $ 93,000 |
| Morris, New Jersey | 19 | $ 4,762,000 | $ 250,631 | $ 88,000 |
| Middlesex, New Jersey | 15 | $ 4,311,000 | $ 287,400 | $ 84,000 |
| Suffolk, New York | 15 | $ 4,021,000 | $ 268,066 | $ 72,000 |
| Westchester, New York | 11 | $ 3,482,000 | $ 316,545 | $ 155,000 |
| Polk, Florida | 10 | $ 1,064,000 | $ 106,400 | $ 32,000 |
| Lake, Florida | 7 | $ 995,000 | $ 142,142 | $ 36,000 |
| Monmouth, New Jersey | 7 | $ 2,469,000 | $ 352,714 | $ 176,000 |
| Sussex, New Jersey | 7 | $ 1,597,000 | $ 228,142 | $ 98,000 |
| Seminole, Florida | 5 | $ 710,000 | $ 142,000 | $ 59,000 |
| Rockland, New York | 5 | $ 1,996,000 | $ 399,200 | $ 108,000 |
| Palm Beach, Florida | 4 | $ 363,000 | $ 90,750 | $ 31,000 |
| Mercer, New Jersey | 4 | $ 666,000 | $ 166,500 | $ 22,000 |
| Ocean, New Jersey | 4 | $ 1,056,000 | $ 264,000 | $ 46,000 |
| New York, New York | 4 | $ 1,943,000 | $ 485,750 | $ 472,000 |
| Orange, New York | 4 | $ 1,172,000 | $ 293,000 | $ 113,000 |
| Citrus, Florida | 3 | $ 222,000 | $ 74,000 | $ 26,000 |
| Lee, Florida | 2 | $ 158,000 | $ 79,000 | $ 79,000 |
| Pinellas, Florida | 2 | $ 224,000 | $ 112,000 | $ 46,000 |
| Burlington, New Jersey | 2 | $ 400,000 | $ 200,000 | $ 82,000 |
| Hartford, Connecticut | 1 | $ 116,000 | $ 116,000 | $ 62,000 |
| Clay, Florida | 1 | $ 68,000 | $ 68,000 | $ 125,000 |
| Volusia, Florida | 1 | $ 153,000 | $ 153,000 | $ 52,000 |
| Atlantic, New Jersey | 1 | $ 250,000 | $ 250,000 | $ 78,000 |
| Camden, New Jersey | 1 | $ 124,000 | $ 124,000 | $ 139,000 |
| Somerset, New Jersey | 1 | $ 161,000 | $ 161,000 | $ 54,000 |
| Greene, New York | 1 | $ 139,000 | $ 139,000 | $ 55,000 |
| Richmond, New York | 1 | $ 291,000 | $ 291,000 | $ 113,000 |
| Bucks, Pennsylvania | 1 | $ 158,000 | $ 158,000 | $ 151,000 |
| Lancaster, Pennsylvania | 1 | $ 239,000 | $ 239,000 | $ 67,000 |
| Monroe, Pennsylvania | 1 | $ 94,000 | $ 94,000 | $ 68,000 |
| Philadelphia, Pennsylvania | 1 | $ 59,000 | $ 59,000 | $ 61,000 |
Mortgage Loan Application Detail Totals for First Residential Mortgage Ser in 2012
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 | 1,363 | $378,055,000 | $277,000 | $866,000 | $79,000 | $735,000 |
| Refinancing | 262 | $73,827,000 | $281,000 | $1,126,000 | $84,000 | $1,511,000 |
| Home Improvement | 3 | $1,069,000 | $356,000 | $609,000 | $89,000 | $119,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 741 | $186,849,000 | $252,000 | $866,000 | $70,000 | $693,000 |
| Black or African American | 421 | $134,777,000 | $320,000 | $717,000 | $74,000 | $273,000 |
| White | 307 | $87,411,000 | $284,000 | $1,126,000 | $111,000 | $1,511,000 |
| Asian | 126 | $34,355,000 | $272,000 | $730,000 | $81,000 | $347,000 |
| American Indian or Alaskan Native | 16 | $4,236,000 | $264,000 | $517,000 | $72,000 | $134,000 |
| Not Provided | 15 | $4,682,000 | $312,000 | $457,000 | $123,000 | $735,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $641,000 | $320,000 | $421,000 | $79,000 | $88,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 1,211 | $355,238,000 | $293,000 | $835,000 | $70,000 | $282,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 403 | $93,882,000 | $232,000 | $1,126,000 | $109,000 | $1,511,000 |
| VA-guaranteed (Veterans Administration) | 13 | $3,662,000 | $281,000 | $511,000 | $79,000 | $148,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $169,000 | $169,000 | $169,000 | $82,000 | $82,000 |
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 | 910 | $253,561,000 | $278,000 | $668,000 | $76,000 | $735,000 |
| Application Withdrawn By Applicant | 361 | $94,383,000 | $261,000 | $975,000 | $85,000 | $693,000 |
| Application Denied By Financial Institution | 356 | $104,441,000 | $293,000 | $1,126,000 | $86,000 | $1,511,000 |
| Application Approved But Not Accepted | 1 | $566,000 | $566,000 | $566,000 | $99,000 | $99,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 97 | $26,895,000 | $277,000 | $590,000 | $64,000 | $236,000 |
| Other | 92 | $27,582,000 | $299,000 | $814,000 | $85,000 | $600,000 |
| Collateral | 48 | $14,751,000 | $307,000 | $1,126,000 | $107,000 | $746,000 |
| Credit Application Incomplete | 38 | $10,739,000 | $282,000 | $567,000 | $90,000 | $492,000 |
| Credit History | 37 | $9,676,000 | $261,000 | $680,000 | $107,000 | $1,511,000 |
| Unverifiable Information | 20 | $7,796,000 | $389,000 | $835,000 | $121,000 | $282,000 |
| Employment History | 19 | $5,582,000 | $293,000 | $527,000 | $58,000 | $96,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $1,126,000 | $375,000 | $517,000 | $77,000 | $143,000 |
| Mortgage Insurance Denied | 1 | $247,000 | $247,000 | $247,000 | $74,000 | $74,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Residential Mortgage Ser's 2012 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 Residential Mortgage Ser'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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