M-C Federal Credit Union Mortgage Lending & HMDA Data, 2003
In 2003, M-C Federal Credit Union of Danville, PA reported 330 mortgage applications totaling $21.7 million. The average application was for $65,806, and applicants reported an average income of $63,263. 97% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Scranton--Wilkes-Barre--Hazleton, PA (37), Lancaster, PA (3) and Harrisburg-Lebanon-Carlisle, PA (2) (applications in parentheses).
| Mortgage Company & Address | M-C Federal Credit Union 230 Walnut St. Danville, PA 17821 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 330 |
| Total Mortgage Loan Application Amount | $21,716,000 |
| Average Mortgage Loan Application Amount | $65,806 |
| Highest Mortgage Loan Application Amount | $440,000 |
| Average Applicant Income | $63,263 |
| Highest Applicant Income | $500,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records M-C Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Montour, Pennsylvania | 109 | $ 8,344,000 | $ 76,550 | $ 69,000 |
| Northumberland, Pennsylvania | 100 | $ 5,992,000 | $ 59,920 | $ 48,000 |
| Columbia, Pennsylvania | 45 | $ 2,715,000 | $ 60,333 | $ 61,000 |
| Union, Pennsylvania | 45 | $ 2,635,000 | $ 58,555 | $ 47,000 |
| Snyder, Pennsylvania | 18 | $ 990,000 | $ 55,000 | $ 52,000 |
| Lancaster, Pennsylvania | 3 | $ 423,000 | $ 141,000 | $ 91,000 |
| Dauphin, Pennsylvania | 2 | $ 125,000 | $ 62,500 | $ 59,000 |
| Luzerne, Pennsylvania | 2 | $ 103,000 | $ 51,500 | $ 79,000 |
| Tioga, Pennsylvania | 2 | $ 236,000 | $ 118,000 | $ 62,000 |
| Chester, Pennsylvania | 1 | $ 30,000 | $ 30,000 | $ 120,000 |
| Clinton, Pennsylvania | 1 | $ 75,000 | $ 75,000 | $ 42,000 |
| Lycoming, Pennsylvania | 1 | $ 28,000 | $ 28,000 | $ 178,000 |
| Schuylkill, Pennsylvania | 1 | $ 20,000 | $ 20,000 | $ 57,000 |
Mortgage Loan Application Detail Totals for M-C Federal Credit Union 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) | 226 | $16,420,000 | $72,000 | $440,000 | $68,000 | $500,000 |
| Home Improvement (one-to-four family) | 63 | $2,011,000 | $31,000 | $150,000 | $51,000 | $140,000 |
| Home Purchase (one-to-four family) | 41 | $3,285,000 | $80,000 | $238,000 | $56,000 | $151,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 325 | $21,433,000 | $65,000 | $440,000 | $62,000 | $500,000 |
| Black | 3 | $204,000 | $68,000 | $82,000 | $52,000 | $52,000 |
| Other | 2 | $79,000 | $39,000 | $58,000 | $55,000 | $55,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian or Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Information not provided by applicant in mail or telephone application | 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) | 330 | $21,716,000 | $65,000 | $440,000 | $61,000 | $500,000 |
| 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 | 319 | $21,229,000 | $66,000 | $440,000 | $70,000 | $500,000 |
| Application Denied By Financial Institution | 9 | $360,000 | $40,000 | $98,000 | $40,000 | $80,000 |
| Application Withdrawn By Applicant | 1 | $65,000 | $65,000 | $65,000 | $21,000 | $21,000 |
| Application Approved But Not Accepted | 1 | $62,000 | $62,000 | $62,000 | $26,000 | $26,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Credit History | 4 | $105,000 | $26,000 | $41,000 | $43,000 | $80,000 |
| Debt-To-Income Ratio | 3 | $160,000 | $53,000 | $98,000 | $18,000 | $34,000 |
| Collateral | 1 | $10,000 | $10,000 | $10,000 | $43,000 | $43,000 |
| Credit Application Incomplete | 1 | $85,000 | $85,000 | $85,000 | $66,000 | $66,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into M-C Federal Credit Union'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 M-C Federal 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.
For a list of all lenders in Pennsylvania, download the full spreadsheet
with aggregated HMDA statistics today.
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