First Shore Federal S&L Assoc Mortgage Lending & HMDA Data, 2004
In 2004, First Shore Federal S&L Assoc of Salisbury, MD reported 826 mortgage applications totaling $69.2 million. The average application was for $83,744, and applicants reported an average income of $58,991. 38% of its applications resulted in an originated loan and 51% were denied. Its largest markets were Salisbury, MD (205), Dover, DE (101) and Baltimore-Towson, MD (2) (applications in parentheses).
| 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 | 826 |
| Total Mortgage Loan Application Amount | $69,173,000 |
| Average Mortgage Loan Application Amount | $83,744 |
| Highest Mortgage Loan Application Amount | $4,400,000 |
| Average Applicant Income | $58,991 |
| Highest Applicant Income | $2,844,000 |
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records First Shore Federal S&L Assoc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2004
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 | 659 | $54,159,000 | $86,000 | $4,400,000 | $53,500 | $2,844,000 |
| Refinancing | 97 | $10,326,000 | $89,750 | $1,070,000 | $62,250 | $581,000 |
| Home Improvement | 70 | $4,688,000 | $70,333 | $425,000 | $48,333 | $631,000 |
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 | 677 | $61,341,000 | $95,000 | $4,400,000 | $58,250 | $2,844,000 |
| Black or African American | 100 | $5,167,000 | $61,500 | $425,000 | $40,750 | $141,000 |
| Hispanic | 33 | $1,336,000 | $43,666 | $115,000 | $44,333 | $130,000 |
| Not Provided | 11 | $1,119,000 | $103,500 | $254,000 | $93,000 | $390,000 |
| Asian | 4 | $169,000 | $42,000 | $48,000 | $45,500 | $73,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $41,000 | $41,000 | $41,000 | $27,000 | $27,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 826 | $69,173,000 | $84,000 | $4,400,000 | $53,500 | $2,844,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 422 | $27,831,000 | $69,250 | $4,400,000 | $45,500 | $2,844,000 |
| Loan Originated | 310 | $32,176,000 | $97,666 | $1,070,000 | $69,666 | $654,000 |
| File Closed For Incompleteness | 72 | $6,156,000 | $84,333 | $630,000 | $67,333 | $268,000 |
| Application Withdrawn By Applicant | 20 | $2,630,000 | $150,666 | $680,000 | $66,000 | $212,000 |
| Application Approved But Not Accepted | 2 | $380,000 | $190,000 | $260,000 | $128,500 | $218,000 |
| 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 | 272 | $12,248,000 | $57,750 | $150,000 | $40,750 | $164,000 |
| Debt-To-Income Ratio | 85 | $7,461,000 | $94,750 | $625,000 | $41,750 | $246,000 |
| Other | 25 | $5,547,000 | $130,333 | $4,400,000 | $57,333 | $2,844,000 |
| Employment History | 23 | $1,174,000 | $61,333 | $124,000 | $31,333 | $69,000 |
| Unverifiable Information | 6 | $249,000 | $37,000 | $85,000 | $78,500 | $150,000 |
| Credit Application Incomplete | 5 | $761,000 | $139,500 | $350,000 | $71,500 | $118,000 |
| Collateral | 3 | $120,000 | $40,000 | $48,000 | $64,000 | $141,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $271,000 | $86,500 | $106,000 | $48,000 | $52,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Shore Federal S&L Assoc's 2004 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
with aggregated HMDA statistics today.
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