Geico Federal Credit Union Mortgage Lending & HMDA Data, 2017
In 2017, Geico Federal Credit Union of Chevy Chase, MD reported 36 mortgage applications totaling $1.7 million, up 33% from 2016. The average application was for $46,944, and applicants reported an average income of $103,000. 42% of its applications resulted in an originated loan and 42% were denied. Its largest markets were Nassau County-Suffolk County, NY (5), Lakeland-Winter Haven, FL (4) and San Diego-Carlsbad, CA (4) (applications in parentheses).
| Mortgage Company & Address | Geico Federal Credit Union 5260 Western Avenue Chevy Chase, MD 20815 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 36 |
| Total Mortgage Loan Application Amount | $1,690,000 |
| Average Mortgage Loan Application Amount | $46,944 |
| Highest Mortgage Loan Application Amount | $175,000 |
| Average Applicant Income | $103,000 |
| Highest Applicant Income | $261,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Geico Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Nassau County-Suffolk County, NY | 5 | $ 285,000 | $ 57,000 | $ 80,000 |
| Lakeland-Winter Haven, FL | 4 | $ 168,000 | $ 42,000 | $ 103,000 |
| San Diego-Carlsbad, CA | 4 | $ 210,000 | $ 52,500 | $ 132,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 4 | $ 280,000 | $ 70,000 | $ 175,500 |
| Buffalo-Cheektowaga-Niagara Falls, NY | 3 | $ 200,000 | $ 66,666 | $ 80,000 |
| Macon-Bibb County, GA | 3 | $ 100,000 | $ 33,333 | $ 94,000 |
| Montgomery County-Bucks County-Chester County, PA | 2 | $ 40,000 | $ 20,000 | $ 67,000 |
| Tampa-St. Petersburg-Clearwater, FL | 2 | $ 119,000 | $ 59,500 | $ 83,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 1 | $ 40,000 | $ 40,000 | $ 190,000 |
| Atlanta-Sandy Springs-Roswell, GA | 1 | $ 14,000 | $ 14,000 | $ 80,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 1 | $ 19,000 | $ 19,000 | $ 62,000 |
| Los Angeles-Long Beach-Glendale, CA | 1 | $ 20,000 | $ 20,000 | $ 130,000 |
| Miami-Miami Beach-Kendall, FL | 1 | $ 50,000 | $ 50,000 | $ 86,000 |
| Rochester, NY | 1 | $ 14,000 | $ 14,000 | $ 49,000 |
| Warner Robins, GA | 1 | $ 60,000 | $ 60,000 | $ 32,000 |
Mortgage Loan Application Detail Totals for Geico Federal Credit Union in 2017
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 Improvement | 36 | $1,690,000 | $46,000 | $175,000 | $103,000 | $261,000 |
| Home Purchase | 0 | $0 | $0 | $0 | $0 | $0 |
| Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
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 |
|---|---|---|---|---|---|---|
| Not Provided | 16 | $769,000 | $48,000 | $140,000 | $111,000 | $200,000 |
| White | 11 | $364,000 | $33,000 | $70,000 | $98,000 | $190,000 |
| Black or African American | 5 | $360,000 | $72,000 | $175,000 | $101,000 | $261,000 |
| Hispanic | 2 | $69,000 | $34,000 | $50,000 | $74,000 | $86,000 |
| American Indian or Alaskan Native | 1 | $63,000 | $63,000 | $63,000 | $103,000 | $103,000 |
| Asian | 1 | $65,000 | $65,000 | $65,000 | $112,000 | $112,000 |
| 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) | 36 | $1,690,000 | $46,000 | $175,000 | $103,000 | $261,000 |
| 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 | 15 | $584,000 | $38,000 | $70,000 | $88,000 | $190,000 |
| Loan Originated | 15 | $753,000 | $50,000 | $175,000 | $122,000 | $261,000 |
| Application Approved But Not Accepted | 5 | $283,000 | $56,000 | $140,000 | $106,000 | $200,000 |
| File Closed For Incompleteness | 1 | $70,000 | $70,000 | $70,000 | $32,000 | $32,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 5 | $184,000 | $36,000 | $60,000 | $66,000 | $91,000 |
| Collateral | 4 | $115,000 | $28,000 | $65,000 | $113,000 | $128,000 |
| Debt-To-Income Ratio | 3 | $185,000 | $61,000 | $70,000 | $52,000 | $98,000 |
| Other | 2 | $50,000 | $25,000 | $40,000 | $128,000 | $190,000 |
| Employment History | 1 | $50,000 | $50,000 | $50,000 | $125,000 | $125,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 Geico Federal Credit Union's 2017 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 Geico Federal Credit Union'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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with aggregated HMDA statistics today.
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