Forward Financial Mortgage Lending & HMDA Data, 2004
In 2004, Forward Financial of West Falmouth, ME reported 2,264 mortgage applications totaling $105.8 million, down 40% from 2003. The average application was for $46,715, and applicants reported an average income of $40,658. 2% of its applications resulted in an originated loan and 98% were denied. Its largest markets were Rockingham County-Strafford County, NH (250), Poughkeepsie-Newburgh-Middletown, NY (81) and Manchester-Nashua, NH (78) (applications in parentheses).
| Mortgage Company & Address | Forward Financial 70 Gray Road West Falmouth, ME 04105 |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 2,264 |
| Total Mortgage Loan Application Amount | $105,765,000 |
| Average Mortgage Loan Application Amount | $46,715 |
| Highest Mortgage Loan Application Amount | $184,000 |
| Average Applicant Income | $40,658 |
| Highest Applicant Income | $553,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Forward Financial filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Rockingham County-Strafford County, NH | 250 | $ 13,845,000 | $ 55,380 | $ 40,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 81 | $ 4,375,000 | $ 54,012 | $ 52,000 |
| Manchester-Nashua, NH | 78 | $ 4,329,000 | $ 55,500 | $ 41,000 |
| Phoenix-Mesa-Scottsdale, AZ | 69 | $ 2,796,000 | $ 40,521 | $ 41,000 |
| Philadelphia, PA | 60 | $ 2,275,000 | $ 37,916 | $ 38,000 |
| Albany-Schenectady-Troy, NY | 59 | $ 1,814,000 | $ 30,745 | $ 35,000 |
| Portland-South Portland-Biddeford, ME | 56 | $ 2,702,000 | $ 48,250 | $ 46,000 |
| Lancaster, PA | 51 | $ 1,534,000 | $ 30,078 | $ 38,000 |
| Providence-New Bedford-Fall River, RI-MA | 51 | $ 3,044,000 | $ 59,686 | $ 41,000 |
| Baltimore-Towson, MD | 48 | $ 2,041,000 | $ 42,520 | $ 50,000 |
| Edison, NJ | 48 | $ 2,724,000 | $ 56,750 | $ 44,000 |
| Springfield, MA | 45 | $ 2,036,000 | $ 45,244 | $ 34,000 |
| Harrisburg-Carlisle, PA | 44 | $ 1,403,000 | $ 31,886 | $ 39,000 |
| Norwich-New London, CT | 44 | $ 1,621,000 | $ 36,840 | $ 36,000 |
| Camden, NJ | 36 | $ 1,170,000 | $ 32,500 | $ 31,000 |
| Boston-Quincy, MA | 35 | $ 2,778,000 | $ 79,371 | $ 61,000 |
| Worcester, MA | 35 | $ 1,729,000 | $ 49,400 | $ 34,000 |
| Atlantic City, NJ | 33 | $ 1,254,000 | $ 38,000 | $ 38,000 |
| Hartford-West Hartford-East Hartford, CT | 32 | $ 1,355,000 | $ 42,343 | $ 33,000 |
| Prescott, AZ | 30 | $ 1,450,000 | $ 48,333 | $ 47,000 |
| Las Vegas-Paradise, NV | 29 | $ 1,019,000 | $ 35,137 | $ 49,000 |
| Los Angeles-Long Beach-Glendale, CA | 28 | $ 1,626,000 | $ 58,071 | $ 46,000 |
| York-Hanover, PA | 25 | $ 847,000 | $ 33,880 | $ 37,000 |
| Cambridge-Newton-Framingham, MA | 23 | $ 1,419,000 | $ 61,695 | $ 37,000 |
| Tucson, AZ | 22 | $ 666,000 | $ 30,272 | $ 42,000 |
| Pittsburgh, PA | 21 | $ 720,000 | $ 34,285 | $ 29,000 |
| New Haven-Milford, CT | 20 | $ 828,000 | $ 41,400 | $ 42,000 |
| Boulder, CO | 19 | $ 681,000 | $ 35,842 | $ 45,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 18 | $ 692,000 | $ 38,444 | $ 32,000 |
| Riverside-San Bernardino-Ontario, CA | 18 | $ 914,000 | $ 50,777 | $ 44,000 |
| Warren-Farmington Hills-Troy, MI | 17 | $ 566,000 | $ 33,294 | $ 34,000 |
| Essex County, MA | 16 | $ 1,461,000 | $ 91,312 | $ 66,000 |
| Vineland-Millville-Bridgeton, NJ | 16 | $ 785,000 | $ 49,062 | $ 39,000 |
| Denver-Aurora, CO | 15 | $ 483,000 | $ 32,200 | $ 31,000 |
| Kingston, NY | 14 | $ 668,000 | $ 47,714 | $ 43,000 |
| Rochester, NY | 14 | $ 499,000 | $ 35,642 | $ 35,000 |
| Bridgeport-Stamford-Norwalk, CT | 13 | $ 745,000 | $ 57,307 | $ 38,000 |
| Burlington-South Burlington, VT | 11 | $ 438,000 | $ 39,818 | $ 34,000 |
| Hagerstown-Martinsburg, MD-WV | 11 | $ 437,000 | $ 39,727 | $ 51,000 |
| Ocean City, NJ | 11 | $ 478,000 | $ 43,454 | $ 44,000 |
| Lebanon, PA | 10 | $ 321,000 | $ 32,100 | $ 24,000 |
| Reading, PA | 10 | $ 310,000 | $ 31,000 | $ 44,000 |
| Nassau-Suffolk, NY | 9 | $ 484,000 | $ 53,777 | $ 40,000 |
| Flagstaff, AZ | 8 | $ 346,000 | $ 43,250 | $ 26,000 |
| Pittsfield, MA | 8 | $ 339,000 | $ 42,375 | $ 26,000 |
| Santa Ana-Anaheim-Irvine, CA | 8 | $ 552,000 | $ 69,000 | $ 51,000 |
| Dover, DE | 7 | $ 161,000 | $ 23,000 | $ 35,000 |
| Yuma, AZ | 7 | $ 725,000 | $ 103,571 | $ 131,000 |
| Buffalo-Niagara Falls, NY | 6 | $ 204,000 | $ 34,000 | $ 23,000 |
| Lewiston-Auburn, ME | 6 | $ 421,000 | $ 70,166 | $ 31,000 |
| New York-Wayne-White Plains, NY-NJ | 6 | $ 279,000 | $ 46,500 | $ 52,000 |
| Reno-Sparks, NV | 6 | $ 272,000 | $ 45,333 | $ 35,000 |
| Glens Falls, NY | 5 | $ 177,000 | $ 35,400 | $ 27,000 |
| Salt Lake City, UT | 5 | $ 177,000 | $ 35,400 | $ 30,000 |
| Wilmington, DE-MD-NJ | 5 | $ 105,000 | $ 21,000 | $ 32,000 |
| Bangor, ME | 4 | $ 79,000 | $ 19,750 | $ 26,000 |
| Barnstable Town, MA | 4 | $ 273,000 | $ 68,250 | $ 57,000 |
| Detroit-Livonia-Dearborn, MI | 4 | $ 150,000 | $ 37,500 | $ 35,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 4 | $ 353,000 | $ 88,250 | $ 34,000 |
| San Diego-Carlsbad-San Marcos, CA | 4 | $ 264,000 | $ 66,000 | $ 36,000 |
| Santa Rosa-Petaluma, CA | 4 | $ 358,000 | $ 89,500 | $ 41,000 |
| Columbus, OH | 3 | $ 72,000 | $ 24,000 | $ 47,000 |
| Bethesda-Frederick-Gaithersburg, MD | 2 | $ 57,000 | $ 28,500 | $ 65,000 |
| Binghamton, NY | 2 | $ 50,000 | $ 25,000 | $ 25,000 |
| Charleston, WV | 2 | $ 46,000 | $ 23,000 | $ 15,000 |
| Flint, MI | 2 | $ 123,000 | $ 61,500 | $ 41,000 |
| Fresno, CA | 2 | $ 143,000 | $ 71,500 | $ 38,000 |
| Grand Junction, CO | 2 | $ 43,000 | $ 21,500 | $ 49,000 |
| Ithaca, NY | 2 | $ 31,000 | $ 15,500 | $ 27,000 |
| Newark-Union, NJ-PA | 2 | $ 102,000 | $ 51,000 | $ 39,000 |
| Redding, CA | 2 | $ 80,000 | $ 40,000 | $ 31,000 |
| Salinas, CA | 2 | $ 207,000 | $ 103,500 | $ 75,000 |
| Syracuse, NY | 2 | $ 40,000 | $ 20,000 | $ 41,000 |
| Bakersfield, CA | 1 | $ 51,000 | $ 51,000 | $ 40,000 |
| Cincinnati-Middletown, OH-KY-IN | 1 | $ 75,000 | $ 75,000 | $ 30,000 |
| Cleveland-Elyria-Mentor, OH | 1 | $ 31,000 | $ 31,000 | $ 30,000 |
| Dayton, OH | 1 | $ 14,000 | $ 14,000 | $ 34,000 |
| Elmira, NY | 1 | $ 14,000 | $ 14,000 | $ 32,000 |
| Erie, PA | 1 | $ 18,000 | $ 18,000 | $ 13,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 6,000 | $ 6,000 | $ 18,000 |
| Greeley, CO | 1 | $ 49,000 | $ 49,000 | $ 30,000 |
| Jackson, MI | 1 | $ 45,000 | $ 45,000 | $ 35,000 |
| Johnstown, PA | 1 | $ 14,000 | $ 14,000 | $ 12,000 |
| Parkersburg-Marietta, WV-OH | 1 | $ 22,000 | $ 22,000 | $ 17,000 |
| Saginaw-Saginaw Township North, MI | 1 | $ 24,000 | $ 24,000 | $ 34,000 |
| Salisbury, MD | 1 | $ 51,000 | $ 51,000 | $ 73,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 1 | $ 133,000 | $ 133,000 | $ 62,000 |
| Scranton--Wilkes-Barre, PA | 1 | $ 47,000 | $ 47,000 | $ 25,000 |
| Springfield, OH | 1 | $ 26,000 | $ 26,000 | $ 21,000 |
| State College, PA | 1 | $ 25,000 | $ 25,000 | $ 14,000 |
| Utica-Rome, NY | 1 | $ 15,000 | $ 15,000 | $ 49,000 |
| Visalia-Porterville, CA | 1 | $ 20,000 | $ 20,000 | $ 81,000 |
Mortgage Loan Application Detail Totals for Forward Financial 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 | 2,012 | $94,632,000 | $43,950 | $184,000 | $39,700 | $553,000 |
| Refinancing | 223 | $9,932,000 | $45,222 | $150,000 | $42,000 | $99,000 |
| Home Improvement | 29 | $1,201,000 | $38,571 | $85,000 | $37,285 | $92,000 |
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 | 1,955 | $91,750,000 | $44,350 | $184,000 | $39,650 | $553,000 |
| Hispanic | 148 | $6,423,000 | $42,928 | $179,000 | $36,142 | $87,000 |
| Not Provided | 78 | $3,976,000 | $52,000 | $158,000 | $47,076 | $310,000 |
| Black or African American | 41 | $1,721,000 | $39,600 | $111,000 | $33,933 | $113,000 |
| American Indian or Alaskan Native | 23 | $941,000 | $41,400 | $126,000 | $36,500 | $210,000 |
| Asian | 17 | $903,000 | $47,300 | $125,000 | $44,100 | $99,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $51,000 | $25,500 | $33,000 | $36,500 | $50,000 |
| 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) | 2,264 | $105,765,000 | $43,850 | $184,000 | $39,500 | $553,000 |
| 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 | 2,225 | $103,608,000 | $43,700 | $184,000 | $38,900 | $480,000 |
| Loan Originated | 39 | $2,157,000 | $51,400 | $140,000 | $66,800 | $553,000 |
| 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 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application 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 |
|---|---|---|---|---|---|---|
| Credit History | 1,234 | $52,693,000 | $40,900 | $175,000 | $41,450 | $210,000 |
| Debt-To-Income Ratio | 806 | $43,138,000 | $48,950 | $184,000 | $32,250 | $310,000 |
| Employment History | 114 | $4,419,000 | $40,125 | $120,000 | $49,000 | $480,000 |
| Collateral | 41 | $2,006,000 | $45,928 | $179,000 | $39,785 | $103,000 |
| Other | 29 | $1,273,000 | $40,727 | $115,000 | $53,909 | $120,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $79,000 | $79,000 | $79,000 | $44,000 | $44,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Forward Financial'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 Forward Financial'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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