First Shore Federal S&L Assoc Mortgage Lending & HMDA Data, 2007
In 2007, First Shore Federal S&L Assoc of Salisbury, MD reported 577 mortgage applications totaling $66.0 million, down 11% from 2006. The average application was for $114,357, and applicants reported an average income of $85,559. 46% of its applications resulted in an originated loan and 39% were denied. Its largest markets were Salisbury, MD (197), Dover, DE (44) and Baltimore-Towson, MD (3) (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 | 577 |
| Total Mortgage Loan Application Amount | $65,984,000 |
| Average Mortgage Loan Application Amount | $114,357 |
| Highest Mortgage Loan Application Amount | $1,200,000 |
| Average Applicant Income | $85,559 |
| Highest Applicant Income | $1,977,000 |
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records First Shore Federal S&L Assoc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2007
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 | 356 | $39,059,000 | $109,000 | $1,000,000 | $72,000 | $1,977,000 |
| Refinancing | 171 | $25,273,000 | $147,000 | $1,200,000 | $116,000 | $1,958,000 |
| Home Improvement | 50 | $1,652,000 | $33,000 | $130,000 | $78,000 | $414,000 |
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 | 472 | $58,516,000 | $123,000 | $1,200,000 | $92,000 | $1,977,000 |
| Black or African American | 68 | $4,190,000 | $61,000 | $300,000 | $50,000 | $454,000 |
| Hispanic | 15 | $1,419,000 | $94,000 | $525,000 | $67,000 | $220,000 |
| Not Provided | 13 | $794,000 | $61,000 | $120,000 | $41,000 | $74,000 |
| Asian | 6 | $976,000 | $162,000 | $450,000 | $113,000 | $269,000 |
| American Indian or Alaskan Native | 2 | $44,000 | $22,000 | $32,000 | $23,000 | $24,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $45,000 | $45,000 | $45,000 | $32,000 | $32,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 577 | $65,984,000 | $114,000 | $1,200,000 | $85,000 | $1,977,000 |
| 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 | 266 | $37,890,000 | $142,000 | $1,200,000 | $116,000 | $1,977,000 |
| Application Denied By Financial Institution | 226 | $17,905,000 | $79,000 | $648,000 | $45,000 | $240,000 |
| Application Approved But Not Accepted | 47 | $2,505,000 | $53,000 | $349,000 | $56,000 | $164,000 |
| Application Withdrawn By Applicant | 21 | $4,099,000 | $195,000 | $550,000 | $111,000 | $296,000 |
| File Closed For Incompleteness | 17 | $3,585,000 | $210,000 | $1,000,000 | $203,000 | $1,958,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 97 | $10,511,000 | $108,000 | $648,000 | $42,000 | $155,000 |
| Credit History | 96 | $5,062,000 | $52,000 | $266,000 | $48,000 | $240,000 |
| Employment History | 21 | $1,110,000 | $52,000 | $142,000 | $36,000 | $66,000 |
| Other | 5 | $437,000 | $87,000 | $172,000 | $61,000 | $89,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $616,000 | $154,000 | $280,000 | $56,000 | $86,000 |
| Unverifiable Information | 2 | $124,000 | $62,000 | $71,000 | $36,000 | $54,000 |
| Collateral | 1 | $45,000 | $45,000 | $45,000 | $31,000 | $31,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 2007 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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