First Shore Federal S&L Assoc Mortgage Lending & HMDA Data, 2009
In 2009, First Shore Federal S&L Assoc of Salisbury, MD reported 523 mortgage applications totaling $82.5 million, down 14% from 2008. The average application was for $157,766, and applicants reported an average income of $114,791. 46% of its applications resulted in an originated loan and 39% were denied. Its largest markets were Salisbury, MD (146), Dover, DE (21) and Wilmington, DE-MD-NJ (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 | 523 |
| Total Mortgage Loan Application Amount | $82,512,000 |
| Average Mortgage Loan Application Amount | $157,766 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $114,791 |
| Highest Applicant Income | $2,562,000 |
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records First Shore Federal S&L Assoc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 339 | $51,420,000 | $151,000 | $1,400,000 | $116,000 | $1,550,000 |
| Refinancing | 152 | $30,295,000 | $199,000 | $2,000,000 | $119,000 | $2,562,000 |
| Home Improvement | 32 | $797,000 | $24,000 | $80,000 | $82,000 | $274,000 |
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 | 438 | $76,382,000 | $174,000 | $2,000,000 | $125,000 | $2,562,000 |
| Black or African American | 67 | $4,161,000 | $62,000 | $654,000 | $43,000 | $188,000 |
| Hispanic | 6 | $276,000 | $46,000 | $88,000 | $34,000 | $78,000 |
| Not Provided | 5 | $923,000 | $184,000 | $450,000 | $125,000 | $289,000 |
| American Indian or Alaskan Native | 3 | $132,000 | $44,000 | $77,000 | $27,000 | $30,000 |
| Asian | 3 | $548,000 | $182,000 | $392,000 | $510,000 | $1,459,000 |
| Not applicable | 1 | $90,000 | $90,000 | $90,000 | $22,000 | $22,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 523 | $82,512,000 | $157,000 | $2,000,000 | $115,000 | $2,562,000 |
| 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 | 243 | $46,987,000 | $193,000 | $2,000,000 | $163,000 | $2,562,000 |
| Application Denied By Financial Institution | 205 | $26,279,000 | $128,000 | $1,600,000 | $69,000 | $991,000 |
| Application Approved But Not Accepted | 49 | $4,186,000 | $85,000 | $1,400,000 | $86,000 | $818,000 |
| File Closed For Incompleteness | 13 | $1,924,000 | $148,000 | $480,000 | $69,000 | $210,000 |
| Application Withdrawn By Applicant | 12 | $2,956,000 | $246,000 | $1,300,000 | $105,000 | $558,000 |
| Preapproval Denied by Financial Institution | 1 | $180,000 | $180,000 | $180,000 | $65,000 | $65,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 | 99 | $16,395,000 | $165,000 | $1,600,000 | $63,000 | $443,000 |
| Credit History | 70 | $4,319,000 | $61,000 | $600,000 | $51,000 | $295,000 |
| Other | 15 | $2,602,000 | $173,000 | $743,000 | $157,000 | $545,000 |
| Employment History | 13 | $1,885,000 | $145,000 | $1,388,000 | $115,000 | $991,000 |
| Collateral | 6 | $849,000 | $141,000 | $310,000 | $81,000 | $112,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $409,000 | $136,000 | $185,000 | $51,000 | $64,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 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 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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