Independence Community Bank Mortgage Lending & HMDA Data, 2005
In 2005, Independence Community Bank of Brooklyn, NY reported 2,904 mortgage applications totaling $2.2 billion, up 5% from 2004. The average application was for $771,879, and applicants reported an average income of $85,971. 60% of its applications resulted in an originated loan and 25% were denied. Its largest markets were New York-Wayne-White Plains, NY-NJ (1,490), Newark-Union, NJ-PA (429) and Edison, NJ (334) (applications in parentheses).
| Mortgage Company & Address | Independence Community Bank 195 Montague Street Brooklyn, NY 11201 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 2003 |
| Total Number of Mortgage Applications | 2,904 |
| Total Mortgage Loan Application Amount | $2,241,537,000 |
| Average Mortgage Loan Application Amount | $771,879 |
| Highest Mortgage Loan Application Amount | $80,000,000 |
| Average Applicant Income | $85,971 |
| Highest Applicant Income | $3,370,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Independence Community Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Richmond, New York | 648 | $ 69,140,000 | $ 106,697 | $ 97,000 |
| Kings, New York | 368 | $ 176,680,000 | $ 480,108 | $ 84,000 |
| Union, New Jersey | 227 | $ 38,643,000 | $ 170,233 | $ 84,000 |
| Queens, New York | 221 | $ 77,744,000 | $ 351,782 | $ 74,000 |
| Essex, New Jersey | 175 | $ 43,906,000 | $ 250,891 | $ 82,000 |
| Hudson, New Jersey | 158 | $ 31,583,000 | $ 199,892 | $ 78,000 |
| Middlesex, New Jersey | 144 | $ 103,694,000 | $ 720,097 | $ 80,000 |
| New York, New York | 135 | $ 238,760,000 | $ 1,768,592 | $ 166,000 |
| Nassau, New York | 110 | $ 31,856,000 | $ 289,600 | $ 120,000 |
| Ocean, New Jersey | 87 | $ 39,299,000 | $ 451,712 | $ 106,000 |
| Monmouth, New Jersey | 83 | $ 38,901,000 | $ 468,686 | $ 98,000 |
| Bronx, New York | 82 | $ 88,171,000 | $ 1,075,256 | $ 44,000 |
| Bergen, New Jersey | 72 | $ 54,871,000 | $ 762,097 | $ 108,000 |
| Cook, Illinois | 25 | $ 53,545,000 | $ 2,141,800 | $ 0 |
| Westchester, New York | 25 | $ 18,178,000 | $ 727,120 | $ 93,000 |
| Passaic, New Jersey | 22 | $ 8,998,000 | $ 409,000 | $ 55,000 |
| Suffolk, New York | 22 | $ 3,460,000 | $ 157,272 | $ 118,000 |
| Miami-Dade, Florida | 21 | $ 107,225,000 | $ 5,105,952 | $ 0 |
| Morris, New Jersey | 21 | $ 16,147,000 | $ 768,904 | $ 118,000 |
| Hillsborough, Florida | 20 | $ 92,421,000 | $ 4,621,050 | $ 0 |
| Somerset, New Jersey | 20 | $ 5,921,000 | $ 296,050 | $ 109,000 |
| Broward, Florida | 11 | $ 26,369,000 | $ 2,397,181 | $ 18,000 |
| Baltimore City, Maryland | 11 | $ 39,770,000 | $ 3,615,454 | $ 0 |
| Philadelphia, Pennsylvania | 11 | $ 76,660,000 | $ 6,969,090 | $ 0 |
| Pinellas, Florida | 10 | $ 94,180,000 | $ 9,418,000 | $ 0 |
| Rockland, New York | 10 | $ 1,268,000 | $ 126,800 | $ 159,000 |
| District of Columbia, District Of Columbia | 8 | $ 21,532,000 | $ 2,691,500 | $ 0 |
| Lee, Florida | 8 | $ 22,058,000 | $ 2,757,250 | $ 55,000 |
| Burlington, New Jersey | 8 | $ 11,438,000 | $ 1,429,750 | $ 94,000 |
| Camden, New Jersey | 8 | $ 15,312,000 | $ 1,914,000 | $ 58,000 |
| Brevard, Florida | 6 | $ 30,015,000 | $ 5,002,500 | $ 0 |
| Delaware, Pennsylvania | 6 | $ 14,460,000 | $ 2,410,000 | $ 0 |
| Orange, Florida | 5 | $ 35,450,000 | $ 7,090,000 | $ 0 |
| Sussex, New Jersey | 5 | $ 829,000 | $ 165,800 | $ 133,000 |
| Bucks, Pennsylvania | 5 | $ 35,920,000 | $ 7,184,000 | $ 0 |
| Hartford, Connecticut | 4 | $ 4,680,000 | $ 1,170,000 | $ 0 |
| New Haven, Connecticut | 4 | $ 2,119,000 | $ 529,750 | $ 0 |
| Leon, Florida | 4 | $ 3,780,000 | $ 945,000 | $ 0 |
| Polk, Florida | 4 | $ 18,111,000 | $ 4,527,750 | $ 11,000 |
| Montgomery, Maryland | 4 | $ 63,700,000 | $ 15,925,000 | $ 0 |
| Prince George's, Maryland | 4 | $ 19,881,000 | $ 4,970,250 | $ 0 |
| Gloucester, New Jersey | 4 | $ 22,145,000 | $ 5,536,250 | $ 15,000 |
| Mercer, New Jersey | 4 | $ 4,410,000 | $ 1,102,500 | $ 43,000 |
| Orange, New York | 4 | $ 445,000 | $ 111,250 | $ 62,000 |
| Lancaster, Pennsylvania | 4 | $ 8,395,000 | $ 2,098,750 | $ 0 |
| Lehigh, Pennsylvania | 4 | $ 11,960,000 | $ 2,990,000 | $ 0 |
| Palm Beach, Florida | 3 | $ 10,490,000 | $ 3,496,666 | $ 0 |
| Columbia, New York | 3 | $ 296,000 | $ 98,666 | $ 147,000 |
| Middlesex, Connecticut | 2 | $ 2,260,000 | $ 1,130,000 | $ 0 |
| New Castle, Delaware | 2 | $ 43,000,000 | $ 21,500,000 | $ 0 |
| Duval, Florida | 2 | $ 6,080,000 | $ 3,040,000 | $ 0 |
| Manatee, Florida | 2 | $ 19,575,000 | $ 9,787,500 | $ 0 |
| Pasco, Florida | 2 | $ 25,625,000 | $ 12,812,500 | $ 0 |
| Seminole, Florida | 2 | $ 3,400,000 | $ 1,700,000 | $ 0 |
| Baltimore, Maryland | 2 | $ 48,500,000 | $ 24,250,000 | $ 0 |
| Harford, Maryland | 2 | $ 13,550,000 | $ 6,775,000 | $ 0 |
| Howard, Maryland | 2 | $ 19,600,000 | $ 9,800,000 | $ 0 |
| Atlantic, New Jersey | 2 | $ 1,900,000 | $ 950,000 | $ 30,000 |
| Cumberland, New Jersey | 2 | $ 9,375,000 | $ 4,687,500 | $ 0 |
| Warren, New Jersey | 2 | $ 270,000 | $ 135,000 | $ 149,000 |
| Dutchess, New York | 2 | $ 78,000 | $ 39,000 | $ 55,000 |
| Oneida, New York | 2 | $ 106,000 | $ 53,000 | $ 47,000 |
| Chester, Pennsylvania | 2 | $ 5,760,000 | $ 2,880,000 | $ 0 |
| Montgomery, Pennsylvania | 2 | $ 37,825,000 | $ 18,912,500 | $ 0 |
| Arlington, Virginia | 2 | $ 5,500,000 | $ 2,750,000 | $ 0 |
| Fredericksburg, Virginia | 2 | $ 15,680,000 | $ 7,840,000 | $ 0 |
| Clay, Florida | 1 | $ 2,600,000 | $ 2,600,000 | $ 0 |
| Escambia, Florida | 1 | $ 1,925,000 | $ 1,925,000 | $ 0 |
| Lake, Florida | 1 | $ 1,760,000 | $ 1,760,000 | $ 0 |
| Martin, Florida | 1 | $ 4,475,000 | $ 4,475,000 | $ 0 |
| Nassau, Florida | 1 | $ 440,000 | $ 440,000 | $ 559,000 |
| Osceola, Florida | 1 | $ 133,000 | $ 133,000 | $ 67,000 |
| St. Johns, Florida | 1 | $ 118,000 | $ 118,000 | $ 155,000 |
| Lake, Illinois | 1 | $ 4,200,000 | $ 4,200,000 | $ 0 |
| McHenry, Illinois | 1 | $ 650,000 | $ 650,000 | $ 0 |
| Frederick, Maryland | 1 | $ 2,400,000 | $ 2,400,000 | $ 0 |
| Wicomico, Maryland | 1 | $ 5,365,000 | $ 5,365,000 | $ 0 |
| Hunterdon, New Jersey | 1 | $ 90,000 | $ 90,000 | $ 127,000 |
| Putnam, New York | 1 | $ 359,000 | $ 359,000 | $ 120,000 |
| Ulster, New York | 1 | $ 30,000 | $ 30,000 | $ 77,000 |
| Washington, New York | 1 | $ 108,000 | $ 108,000 | $ 93,000 |
| Luzerne, Pennsylvania | 1 | $ 5,500,000 | $ 5,500,000 | $ 0 |
| Wayne, Pennsylvania | 1 | $ 120,000 | $ 120,000 | $ 65,000 |
| York, Pennsylvania | 1 | $ 12,000,000 | $ 12,000,000 | $ 0 |
| Colonial Heights, Virginia | 1 | $ 3,864,000 | $ 3,864,000 | $ 0 |
| Fairfax, Virginia | 1 | $ 2,500,000 | $ 2,500,000 | $ 0 |
Mortgage Loan Application Detail Totals for Independence Community Bank in 2005
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 | 1,220 | $1,265,749,000 | $5,361,500 | $80,000,000 | $17,200 | $1,300,000 |
| Home Improvement | 1,102 | $80,076,000 | $88,000 | $750,000 | $84,000 | $710,000 |
| Home Purchase | 582 | $895,712,000 | $3,362,000 | $25,600,000 | $26,111 | $3,370,000 |
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 | 1,457 | $163,546,000 | $186,000 | $800,000 | $166,750 | $1,300,000 |
| Not applicable | 605 | $1,974,752,000 | $5,617,000 | $80,000,000 | $0 | $0 |
| Hispanic | 315 | $34,872,000 | $125,666 | $533,000 | $86,000 | $710,000 |
| Not Provided | 194 | $31,681,000 | $145,333 | $3,000,000 | $137,666 | $3,370,000 |
| Black or African American | 159 | $16,493,000 | $102,000 | $500,000 | $80,500 | $280,000 |
| Asian | 135 | $16,382,000 | $120,000 | $606,000 | $97,500 | $575,000 |
| American Indian or Alaskan Native | 26 | $2,391,000 | $91,500 | $300,000 | $108,000 | $605,000 |
| Native Hawaiian or Other Pacific Islander | 13 | $1,420,000 | $111,000 | $300,000 | $112,000 | $427,000 |
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) | 2,904 | $2,241,537,000 | $5,095,600 | $80,000,000 | $20,500 | $3,370,000 |
| 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 | 1,736 | $1,661,778,000 | $5,388,800 | $80,000,000 | $23,200 | $3,370,000 |
| Application Denied By Financial Institution | 737 | $308,046,000 | $4,007,888 | $22,000,000 | $17,111 | $900,000 |
| Application Approved But Not Accepted | 315 | $167,253,000 | $1,532,285 | $14,000,000 | $25,285 | $603,000 |
| Application Withdrawn By Applicant | 74 | $95,967,000 | $5,423,600 | $22,200,000 | $35,800 | $654,000 |
| File Closed For Incompleteness | 42 | $8,493,000 | $182,333 | $738,000 | $103,666 | $324,000 |
| 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 |
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 | 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Independence Community Bank's 2005 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 Independence Community Bank'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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