Hoboken School Employees FCU Mortgage Lending & HMDA Data, 2016
In 2016, Hoboken School Employees FCU of Hoboken, NJ reported 12 mortgage applications totaling $2.5 million, down 25% from 2015. The average application was for $208,333, and applicants reported an average income of $171,583. 83% of its applications resulted in an originated loan and 8% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (11) and Newark, NJ-PA (1).
| Mortgage Company & Address | Hoboken School Employees FCU 522 Adams Street Hoboken, NJ 07030 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 |
| Total Number of Mortgage Applications | 12 |
| Total Mortgage Loan Application Amount | $2,500,000 |
| Average Mortgage Loan Application Amount | $208,333 |
| Highest Mortgage Loan Application Amount | $725,000 |
| Average Applicant Income | $171,583 |
| Highest Applicant Income | $353,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Hoboken School Employees FCU filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| New York-Jersey City-White Plains, NY-NJ | 11 | $ 1,960,000 | $ 178,181 | $ 168,000 |
| Newark, NJ-PA | 1 | $ 540,000 | $ 540,000 | $ 211,000 |
Mortgage Loan Application Detail Totals for Hoboken School Employees FCU in 2016
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 | 5 | $1,409,000 | $281,000 | $725,000 | $126,000 | $257,000 |
| Home Improvement | 4 | $175,000 | $43,000 | $55,000 | $175,000 | $257,000 |
| Home Purchase | 3 | $916,000 | $305,000 | $540,000 | $243,000 | $353,000 |
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 | 9 | $2,186,000 | $242,000 | $725,000 | $190,000 | $353,000 |
| Hispanic | 3 | $314,000 | $104,000 | $131,000 | $115,000 | $166,000 |
| Native Hawaiin or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 12 | $2,500,000 | $208,000 | $725,000 | $171,000 | $353,000 |
| 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 | 10 | $1,820,000 | $182,000 | $725,000 | $174,000 | $353,000 |
| Application Denied By Financial Institution | 1 | $140,000 | $140,000 | $140,000 | $102,000 | $102,000 |
| Application Withdrawn By Applicant | 1 | $540,000 | $540,000 | $540,000 | $211,000 | $211,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Other | 1 | $140,000 | $140,000 | $140,000 | $102,000 | $102,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Hoboken School Employees FCU's 2016 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 Hoboken School Employees FCU'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 New Jersey, download the full spreadsheet
with aggregated HMDA statistics today.
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