Lincoln Park Savings & Loan Mortgage Lending & HMDA Data, 2003
In 2003, Lincoln Park Savings & Loan of Lincoln Park, NJ reported 156 mortgage applications totaling $25.7 million. The average application was for $164,705, and applicants reported an average income of $117,474. 90% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Newark, NJ (117), Bergen-Passaic, NJ (32) and Middlesex-Somerset-Hunterdon, NJ (4) (applications in parentheses).
| Mortgage Company & Address | Lincoln Park Savings & Loan 31 Boonton Turnpike Lincoln Park, NJ 07035 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 156 |
| Total Mortgage Loan Application Amount | $25,694,000 |
| Average Mortgage Loan Application Amount | $164,705 |
| Highest Mortgage Loan Application Amount | $650,000 |
| Average Applicant Income | $117,474 |
| Highest Applicant Income | $362,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Lincoln Park Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Lincoln Park Savings & Loan in 2003
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 (home purchase or home improvement, one-to-four family) | 126 | $20,003,000 | $158,000 | $440,000 | $123,000 | $274,000 |
| Home Purchase (one-to-four family) | 28 | $4,731,000 | $168,000 | $650,000 | $101,000 | $362,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 2 | $960,000 | $480,000 | $510,000 | $0 | $0 |
| Home Improvement (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 144 | $23,515,000 | $163,000 | $650,000 | $108,000 | $362,000 |
| Asian or Pacific Islander | 6 | $970,000 | $161,000 | $285,000 | $173,000 | $274,000 |
| Hispanic | 2 | $237,000 | $118,000 | $188,000 | $64,000 | $108,000 |
| Other | 2 | $302,000 | $151,000 | $217,000 | $147,000 | $148,000 |
| American Indian or Alaskan Native | 1 | $220,000 | $220,000 | $220,000 | $65,000 | $65,000 |
| Not applicable | 1 | $450,000 | $450,000 | $450,000 | $0 | $0 |
| Information not provided by applicant in mail or telephone application | 0 | $0 | $0 | $0 | $0 | $0 |
| Black | 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) | 156 | $25,694,000 | $164,000 | $650,000 | $110,000 | $362,000 |
| 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 | 141 | $23,200,000 | $164,000 | $650,000 | $122,000 | $362,000 |
| Application Withdrawn By Applicant | 8 | $1,723,000 | $215,000 | $405,000 | $108,000 | $122,000 |
| Application Denied By Financial Institution | 6 | $721,000 | $120,000 | $162,000 | $69,000 | $107,000 |
| File Closed For Incompleteness | 1 | $50,000 | $50,000 | $50,000 | $12,000 | $12,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 | 4 | $448,000 | $112,000 | $162,000 | $55,000 | $105,000 |
| Credit History | 2 | $273,000 | $136,000 | $145,000 | $84,000 | $107,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 Lincoln Park Savings & Loan's 2003 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 Lincoln Park Savings & Loan'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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