First Shore Federal S&L Assoc Mortgage Lending & HMDA Data, 2010
In 2010, First Shore Federal S&L Assoc of Salisbury, MD reported 394 mortgage applications totaling $53.3 million, down 25% from 2009. The average application was for $135,294, and applicants reported an average income of $105,601. 42% of its applications resulted in an originated loan and 40% were denied. Its largest markets were Salisbury, MD (93) and Dover, DE (24).
| Mortgage Company & Address | First Shore Federal S&L Assoc P O Box 4248 Salisbury, MD 21803 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 394 |
| Total Mortgage Loan Application Amount | $53,306,000 |
| Average Mortgage Loan Application Amount | $135,294 |
| Highest Mortgage Loan Application Amount | $2,870,000 |
| Average Applicant Income | $105,601 |
| Highest Applicant Income | $2,074,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Shore Federal S&L Assoc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Shore Federal S&L Assoc in 2010
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 | 287 | $39,779,000 | $138,000 | $2,870,000 | $111,000 | $2,074,000 |
| Refinancing | 85 | $12,515,000 | $147,000 | $680,000 | $94,000 | $523,000 |
| Home Improvement | 22 | $1,012,000 | $46,000 | $300,000 | $80,000 | $305,000 |
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 | 339 | $48,811,000 | $143,000 | $2,870,000 | $113,000 | $2,074,000 |
| Black or African American | 37 | $2,638,000 | $71,000 | $163,000 | $47,000 | $194,000 |
| Hispanic | 7 | $334,000 | $47,000 | $88,000 | $45,000 | $86,000 |
| Not Provided | 5 | $486,000 | $97,000 | $116,000 | $55,000 | $100,000 |
| American Indian or Alaskan Native | 3 | $212,000 | $70,000 | $142,000 | $49,000 | $115,000 |
| Asian | 3 | $825,000 | $275,000 | $320,000 | $256,000 | $459,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 394 | $53,306,000 | $135,000 | $2,870,000 | $106,000 | $2,074,000 |
| 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 | 165 | $28,795,000 | $174,000 | $2,870,000 | $142,000 | $1,500,000 |
| Application Denied By Financial Institution | 157 | $15,205,000 | $96,000 | $1,075,000 | $58,000 | $310,000 |
| Application Approved But Not Accepted | 35 | $2,858,000 | $81,000 | $680,000 | $79,000 | $290,000 |
| File Closed For Incompleteness | 23 | $3,975,000 | $172,000 | $480,000 | $188,000 | $2,074,000 |
| Application Withdrawn By Applicant | 14 | $2,473,000 | $176,000 | $709,000 | $145,000 | $523,000 |
| 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 | 64 | $3,440,000 | $53,000 | $255,000 | $47,000 | $154,000 |
| Debt-To-Income Ratio | 64 | $8,527,000 | $133,000 | $1,075,000 | $63,000 | $310,000 |
| Other | 9 | $448,000 | $49,000 | $175,000 | $53,000 | $118,000 |
| Employment History | 7 | $495,000 | $70,000 | $142,000 | $39,000 | $59,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 6 | $698,000 | $116,000 | $178,000 | $75,000 | $194,000 |
| Collateral | 6 | $1,347,000 | $224,000 | $574,000 | $126,000 | $264,000 |
| Mortgage Insurance Denied | 1 | $250,000 | $250,000 | $250,000 | $131,000 | $131,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Shore Federal S&L Assoc's 2010 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 Shore Federal S&L Assoc'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.
For a list of all lenders in Maryland, download the full spreadsheet
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