Har-Co Credit Union Mortgage Lending & HMDA Data, 2010
In 2010, Har-Co Credit Union of Bel Air, MD reported 114 mortgage applications totaling $21.0 million, up 65% from 2009. The average application was for $184,429, and applicants reported an average income of $93,561. 75% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Baltimore-Towson, MD (104), Wilmington, DE-MD-NJ (3) and Lancaster, PA (1) (applications in parentheses).
| 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 | 114 |
| Total Mortgage Loan Application Amount | $21,025,000 |
| Average Mortgage Loan Application Amount | $184,429 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $93,561 |
| Highest Applicant Income | $276,000 |
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Act (HMDA) records Har-Co Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2010
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 | 94 | $18,019,000 | $191,000 | $417,000 | $97,000 | $276,000 |
| Home Purchase | 16 | $2,403,000 | $150,000 | $248,000 | $78,000 | $250,000 |
| Home Improvement | 4 | $603,000 | $150,000 | $197,000 | $75,000 | $93,000 |
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 | 105 | $19,612,000 | $186,000 | $417,000 | $96,000 | $276,000 |
| Black or African American | 4 | $533,000 | $133,000 | $229,000 | $56,000 | $73,000 |
| Hispanic | 2 | $630,000 | $315,000 | $395,000 | $91,000 | $104,000 |
| Not Provided | 2 | $150,000 | $75,000 | $146,000 | $55,000 | $57,000 |
| Asian | 1 | $100,000 | $100,000 | $100,000 | $42,000 | $42,000 |
| American Indian or Alaskan Native | 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) | 114 | $21,025,000 | $184,000 | $417,000 | $93,000 | $276,000 |
| 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 | 86 | $15,650,000 | $181,000 | $417,000 | $94,000 | $276,000 |
| Application Withdrawn By Applicant | 20 | $3,981,000 | $199,000 | $400,000 | $103,000 | $250,000 |
| Application Denied By Financial Institution | 6 | $1,076,000 | $179,000 | $273,000 | $63,000 | $100,000 |
| Application Approved But Not Accepted | 2 | $318,000 | $159,000 | $196,000 | $49,000 | $51,000 |
| 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 | 5 | $803,000 | $160,000 | $248,000 | $56,000 | $75,000 |
| Debt-To-Income Ratio | 1 | $273,000 | $273,000 | $273,000 | $100,000 | $100,000 |
| 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 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Har-Co Credit Union's 2010 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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