Har-Co Credit Union Mortgage Lending & HMDA Data, 2009
In 2009, Har-Co Credit Union of Bel Air, MD reported 69 mortgage applications totaling $10.6 million, down 69% from 2008. The average application was for $153,231, and applicants reported an average income of $75,521. 80% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Baltimore-Towson, MD (62) and York-Hanover, PA (2).
| Mortgage Company & Address | Har-Co Credit Union 30 N Hickory Ave Bel Air, MD 21014 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 69 |
| Total Mortgage Loan Application Amount | $10,573,000 |
| Average Mortgage Loan Application Amount | $153,231 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $75,521 |
| Highest Applicant Income | $324,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Har-Co Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Har-Co Credit Union 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 |
|---|---|---|---|---|---|---|
| Refinancing | 64 | $10,084,000 | $157,000 | $417,000 | $77,000 | $324,000 |
| Home Improvement | 3 | $261,000 | $87,000 | $121,000 | $75,000 | $96,000 |
| Home Purchase | 2 | $228,000 | $114,000 | $128,000 | $29,000 | $34,000 |
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 | 52 | $8,053,000 | $154,000 | $417,000 | $71,000 | $163,000 |
| Not Provided | 12 | $1,687,000 | $140,000 | $356,000 | $82,000 | $185,000 |
| Black or African American | 4 | $656,000 | $164,000 | $340,000 | $120,000 | $324,000 |
| Asian | 1 | $177,000 | $177,000 | $177,000 | $78,000 | $78,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 69 | $10,573,000 | $153,000 | $417,000 | $76,000 | $324,000 |
| 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 | 55 | $7,703,000 | $140,000 | $400,000 | $72,000 | $163,000 |
| Application Withdrawn By Applicant | 7 | $1,338,000 | $191,000 | $356,000 | $78,000 | $185,000 |
| Application Denied By Financial Institution | 5 | $1,210,000 | $242,000 | $417,000 | $122,000 | $324,000 |
| Application Approved But Not Accepted | 2 | $322,000 | $161,000 | $180,000 | $53,000 | $54,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Collateral | 3 | $1,062,000 | $354,000 | $417,000 | $174,000 | $324,000 |
| Credit History | 1 | $20,000 | $20,000 | $20,000 | $64,000 | $64,000 |
| Debt-To-Income Ratio | 1 | $128,000 | $128,000 | $128,000 | $25,000 | $25,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 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 Har-Co Credit Union'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 Har-Co 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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