Kearny Federal Savings Bank Mortgage Lending & HMDA Data, 2009
In 2009, Kearny Federal Savings Bank of Fairfield, NJ reported 723 mortgage applications totaling $194.2 million, down 30% from 2008. The average application was for $268,542, and applicants reported an average income of $168,149. 65% of its applications resulted in an originated loan and 15% were denied. Its largest markets were New York-White Plains-Wayne, NY-NJ (278), Edison-New Brunswick, NJ (197) and Newark-Union, NJ-PA (151) (applications in parentheses).
| Mortgage Company & Address | Kearny Federal Savings Bank 120 Passaic Avenue Fairfield, NJ 07004 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 723 |
| Total Mortgage Loan Application Amount | $194,156,000 |
| Average Mortgage Loan Application Amount | $268,542 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $168,149 |
| Highest Applicant Income | $2,441,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Kearny Federal Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Bergen, New Jersey | 188 | $ 39,584,000 | $ 210,553 | $ 137,000 |
| Ocean, New Jersey | 98 | $ 12,601,000 | $ 128,581 | $ 95,000 |
| Essex, New Jersey | 63 | $ 19,520,000 | $ 309,841 | $ 209,000 |
| Middlesex, New Jersey | 53 | $ 7,974,000 | $ 150,452 | $ 110,000 |
| Morris, New Jersey | 50 | $ 13,066,000 | $ 261,320 | $ 197,000 |
| Hudson, New Jersey | 48 | $ 9,010,000 | $ 187,708 | $ 99,000 |
| Passaic, New Jersey | 38 | $ 7,779,000 | $ 204,710 | $ 111,000 |
| Monmouth, New Jersey | 36 | $ 11,275,000 | $ 313,194 | $ 181,000 |
| Union, New Jersey | 30 | $ 7,602,000 | $ 253,400 | $ 135,000 |
| Somerset, New Jersey | 10 | $ 3,258,000 | $ 325,800 | $ 219,000 |
| Mercer, New Jersey | 7 | $ 3,406,000 | $ 486,571 | $ 171,000 |
| Sussex, New Jersey | 7 | $ 764,000 | $ 109,142 | $ 82,000 |
| King, Washington | 7 | $ 4,922,000 | $ 703,142 | $ 320,000 |
| Burlington, New Jersey | 5 | $ 2,086,000 | $ 417,200 | $ 155,000 |
| Multnomah, Oregon | 5 | $ 3,130,000 | $ 626,000 | $ 275,000 |
| Harris, Texas | 4 | $ 3,392,000 | $ 848,000 | $ 593,000 |
| Douglas, Colorado | 3 | $ 1,930,000 | $ 643,333 | $ 286,000 |
| Cape May, New Jersey | 3 | $ 1,565,000 | $ 521,666 | $ 195,000 |
| Warren, New Jersey | 3 | $ 285,000 | $ 95,000 | $ 102,000 |
| Bucks, Pennsylvania | 3 | $ 1,697,000 | $ 565,666 | $ 273,000 |
| Maricopa, Arizona | 2 | $ 1,422,000 | $ 711,000 | $ 203,000 |
| Caddo, Louisiana | 2 | $ 1,227,000 | $ 613,500 | $ 380,000 |
| Camden, New Jersey | 2 | $ 273,000 | $ 136,500 | $ 176,000 |
| Kings, New York | 2 | $ 1,202,000 | $ 601,000 | $ 365,000 |
| Oklahoma, Oklahoma | 2 | $ 1,410,000 | $ 705,000 | $ 803,000 |
| Chester, Pennsylvania | 2 | $ 960,000 | $ 480,000 | $ 288,000 |
| Marshall, Alabama | 1 | $ 650,000 | $ 650,000 | $ 181,000 |
| Tuscaloosa, Alabama | 1 | $ 642,000 | $ 642,000 | $ 254,000 |
| Benton, Arkansas | 1 | $ 926,000 | $ 926,000 | $ 426,000 |
| Pulaski, Arkansas | 1 | $ 953,000 | $ 953,000 | $ 1,481,000 |
| Boulder, Colorado | 1 | $ 971,000 | $ 971,000 | $ 292,000 |
| Denver, Colorado | 1 | $ 762,000 | $ 762,000 | $ 207,000 |
| Mesa, Colorado | 1 | $ 988,000 | $ 988,000 | $ 519,000 |
| Summit, Colorado | 1 | $ 931,000 | $ 931,000 | $ 564,000 |
| Sussex, Delaware | 1 | $ 567,000 | $ 567,000 | $ 224,000 |
| Fulton, Georgia | 1 | $ 986,000 | $ 986,000 | $ 320,000 |
| Gwinnett, Georgia | 1 | $ 686,000 | $ 686,000 | $ 360,000 |
| Bingham, Idaho | 1 | $ 642,000 | $ 642,000 | $ 1,812,000 |
| Jefferson, Louisiana | 1 | $ 513,000 | $ 513,000 | $ 259,000 |
| Cumberland, Maine | 1 | $ 679,000 | $ 679,000 | $ 190,000 |
| Baltimore, Maryland | 1 | $ 129,000 | $ 129,000 | $ 41,000 |
| Middlesex, Massachusetts | 1 | $ 599,000 | $ 599,000 | $ 175,000 |
| Washtenaw, Michigan | 1 | $ 812,000 | $ 812,000 | $ 2,441,000 |
| Hennepin, Minnesota | 1 | $ 690,000 | $ 690,000 | $ 250,000 |
| Madison, Mississippi | 1 | $ 985,000 | $ 985,000 | $ 375,000 |
| Atlantic, New Jersey | 1 | $ 300,000 | $ 300,000 | $ 98,000 |
| Cumberland, New Jersey | 1 | $ 560,000 | $ 560,000 | $ 169,000 |
| Gloucester, New Jersey | 1 | $ 190,000 | $ 190,000 | $ 104,000 |
| Hunterdon, New Jersey | 1 | $ 102,000 | $ 102,000 | $ 97,000 |
| Santa Fe, New Mexico | 1 | $ 608,000 | $ 608,000 | $ 403,000 |
| Nassau, New York | 1 | $ 524,000 | $ 524,000 | $ 110,000 |
| New York, New York | 1 | $ 766,000 | $ 766,000 | $ 424,000 |
| Putnam, New York | 1 | $ 775,000 | $ 775,000 | $ 270,000 |
| Suffolk, New York | 1 | $ 495,000 | $ 495,000 | $ 141,000 |
| Buncombe, North Carolina | 1 | $ 603,000 | $ 603,000 | $ 225,000 |
| Dare, North Carolina | 1 | $ 675,000 | $ 675,000 | $ 235,000 |
| Mecklenburg, North Carolina | 1 | $ 829,000 | $ 829,000 | $ 200,000 |
| Hamilton, Ohio | 1 | $ 668,000 | $ 668,000 | $ 316,000 |
| Tulsa, Oklahoma | 1 | $ 828,000 | $ 828,000 | $ 320,000 |
| Clackamas, Oregon | 1 | $ 989,000 | $ 989,000 | $ 456,000 |
| Lane, Oregon | 1 | $ 907,000 | $ 907,000 | $ 1,163,000 |
| Tillamook, Oregon | 1 | $ 620,000 | $ 620,000 | $ 348,000 |
| Delaware, Pennsylvania | 1 | $ 617,000 | $ 617,000 | $ 170,000 |
| Montgomery, Pennsylvania | 1 | $ 487,000 | $ 487,000 | $ 163,000 |
| Polk, Tennessee | 1 | $ 807,000 | $ 807,000 | $ 187,000 |
| Dallas, Texas | 1 | $ 845,000 | $ 845,000 | $ 250,000 |
| Franklin, Texas | 1 | $ 62,000 | $ 62,000 | $ 1,791,000 |
| Hays, Texas | 1 | $ 473,000 | $ 473,000 | $ 147,000 |
| Parker, Texas | 1 | $ 709,000 | $ 709,000 | $ 235,000 |
| Potter, Texas | 1 | $ 984,000 | $ 984,000 | $ 439,000 |
| Tarrant, Texas | 1 | $ 748,000 | $ 748,000 | $ 400,000 |
| Travis, Texas | 1 | $ 524,000 | $ 524,000 | $ 506,000 |
| Wise, Texas | 1 | $ 464,000 | $ 464,000 | $ 135,000 |
| Weber, Utah | 1 | $ 500,000 | $ 500,000 | $ 121,000 |
| Chesapeake, Virginia | 1 | $ 543,000 | $ 543,000 | $ 232,000 |
| Kitsap, Washington | 1 | $ 503,000 | $ 503,000 | $ 150,000 |
Mortgage Loan Application Detail Totals for Kearny Federal Savings Bank 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 | 387 | $117,898,000 | $304,000 | $1,460,000 | $172,000 | $2,441,000 |
| Home Improvement | 213 | $16,833,000 | $79,000 | $417,000 | $111,000 | $1,630,000 |
| Home Purchase | 123 | $59,425,000 | $483,000 | $1,500,000 | $255,000 | $1,812,000 |
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 | 575 | $158,979,000 | $276,000 | $1,460,000 | $170,000 | $2,441,000 |
| Not Provided | 71 | $16,770,000 | $236,000 | $1,500,000 | $204,000 | $1,630,000 |
| Asian | 34 | $7,820,000 | $230,000 | $575,000 | $156,000 | $372,000 |
| Hispanic | 26 | $5,265,000 | $202,000 | $984,000 | $110,000 | $439,000 |
| Not applicable | 9 | $3,378,000 | $375,000 | $700,000 | $0 | $0 |
| Black or African American | 7 | $1,320,000 | $188,000 | $543,000 | $120,000 | $232,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $624,000 | $624,000 | $624,000 | $276,000 | $276,000 |
| American Indian or Alaskan Native | 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) | 723 | $194,156,000 | $268,000 | $1,500,000 | $168,000 | $2,441,000 |
| 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 | 469 | $97,110,000 | $207,000 | $1,500,000 | $145,000 | $1,630,000 |
| Application Denied By Financial Institution | 111 | $24,744,000 | $222,000 | $1,460,000 | $121,000 | $1,232,000 |
| Loan Purchased By The Institution | 84 | $57,972,000 | $690,000 | $989,000 | $395,000 | $2,441,000 |
| Application Withdrawn By Applicant | 31 | $9,576,000 | $308,000 | $962,000 | $114,000 | $308,000 |
| Application Approved But Not Accepted | 27 | $4,460,000 | $165,000 | $800,000 | $124,000 | $475,000 |
| File Closed For Incompleteness | 1 | $294,000 | $294,000 | $294,000 | $128,000 | $128,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 50 | $11,286,000 | $225,000 | $734,000 | $77,000 | $197,000 |
| Collateral | 40 | $9,920,000 | $248,000 | $1,460,000 | $176,000 | $1,232,000 |
| Credit History | 12 | $1,372,000 | $114,000 | $320,000 | $130,000 | $347,000 |
| Employment History | 3 | $835,000 | $278,000 | $685,000 | $74,000 | $188,000 |
| Other | 2 | $370,000 | $185,000 | $200,000 | $212,000 | $274,000 |
| Unverifiable Information | 2 | $524,000 | $262,000 | $417,000 | $55,000 | $69,000 |
| Mortgage Insurance Denied | 1 | $117,000 | $117,000 | $117,000 | $129,000 | $129,000 |
| Credit Application Incomplete | 1 | $320,000 | $320,000 | $320,000 | $103,000 | $103,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Kearny Federal Savings Bank'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 Kearny Federal Savings 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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