New South Federal Savings Bank Mortgage Lending & HMDA Data, 2004
In 2004, New South Federal Savings Bank of Birmingham, AL reported 12,744 mortgage applications totaling $1.5 billion, down 33% from 2003. The average application was for $114,123, and applicants reported an average income of $53,928. 43% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Birmingham-Hoover, AL (1,563), Nashville-Davidson--Murfreesboro, TN (619) and Houston-Baytown-Sugar Land, TX (438) (applications in parentheses).
| Mortgage Company & Address | New South Federal Savings Bank 1900 Crestwood Boulevard Birmingham, AL 35210 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 12,744 |
| Total Mortgage Loan Application Amount | $1,454,393,000 |
| Average Mortgage Loan Application Amount | $114,123 |
| Highest Mortgage Loan Application Amount | $14,000,000 |
| Average Applicant Income | $53,928 |
| Highest Applicant Income | $3,600,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records New South Federal Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for New South Federal Savings Bank in 2004
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 7,395 | $962,475,000 | $1,300,142 | $14,000,000 | $55,107 | $3,600,000 |
| Refinancing | 4,945 | $456,447,000 | $98,520 | $1,631,000 | $54,440 | $936,000 |
| Home Improvement | 404 | $35,471,000 | $92,000 | $567,000 | $53,000 | $331,000 |
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 | 9,101 | $1,032,931,000 | $116,740 | $1,631,000 | $60,518 | $3,600,000 |
| Black or African American | 2,944 | $246,269,000 | $114,263 | $656,000 | $53,578 | $372,000 |
| Hispanic | 335 | $39,899,000 | $101,800 | $869,000 | $51,533 | $270,000 |
| Asian | 153 | $22,559,000 | $137,133 | $954,000 | $59,600 | $324,000 |
| Not Provided | 130 | $14,013,000 | $108,266 | $1,000,000 | $58,200 | $460,000 |
| American Indian or Alaskan Native | 38 | $4,259,000 | $108,250 | $294,000 | $56,583 | $660,000 |
| Not applicable | 25 | $92,763,000 | $4,788,500 | $14,000,000 | $2,833 | $66,000 |
| Native Hawaiian or Other Pacific Islander | 18 | $1,700,000 | $93,000 | $153,000 | $39,833 | $80,000 |
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) | 9,552 | $1,120,172,000 | $1,135,968 | $14,000,000 | $55,781 | $3,600,000 |
| FHA-insured (Federal Housing Administration) | 2,378 | $230,791,000 | $105,400 | $229,000 | $42,400 | $300,000 |
| VA-guaranteed (Veterans Administration) | 643 | $87,331,000 | $138,357 | $295,000 | $49,000 | $149,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 171 | $16,099,000 | $86,666 | $179,000 | $30,833 | $481,000 |
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 | 5,539 | $679,722,000 | $1,396,913 | $14,000,000 | $52,739 | $3,600,000 |
| Application Denied By Financial Institution | 2,212 | $215,960,000 | $403,130 | $6,670,000 | $53,086 | $936,000 |
| Application Approved But Not Accepted | 1,676 | $191,641,000 | $252,416 | $6,125,000 | $55,208 | $620,000 |
| Loan Purchased By The Institution | 1,118 | $136,816,000 | $139,111 | $954,000 | $73,777 | $606,000 |
| Preapproval Denied by Financial Institution | 916 | $87,810,000 | $95,000 | $599,000 | $44,000 | $481,000 |
| File Closed For Incompleteness | 730 | $71,738,000 | $117,000 | $654,000 | $61,937 | $800,000 |
| Preapproval Approved but not Accepted | 483 | $62,807,000 | $130,000 | $910,000 | $52,000 | $310,000 |
| Application Withdrawn By Applicant | 70 | $7,899,000 | $115,000 | $350,000 | $49,000 | $158,000 |
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 | 1,980 | $172,037,000 | $110,772 | $850,000 | $53,045 | $936,000 |
| Debt-To-Income Ratio | 555 | $58,568,000 | $134,611 | $1,330,000 | $50,722 | $372,000 |
| Collateral | 188 | $19,182,000 | $111,250 | $1,017,000 | $63,562 | $446,000 |
| Other | 179 | $31,305,000 | $610,357 | $6,670,000 | $69,428 | $530,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 75 | $7,730,000 | $95,909 | $368,000 | $42,363 | $204,000 |
| Employment History | 58 | $5,537,000 | $102,111 | $366,000 | $45,888 | $300,000 |
| Unverifiable Information | 49 | $5,334,000 | $106,416 | $599,000 | $84,333 | $379,000 |
| Credit Application Incomplete | 40 | $3,657,000 | $98,750 | $207,000 | $42,625 | $252,000 |
| Mortgage Insurance Denied | 4 | $420,000 | $105,000 | $293,000 | $144,250 | $262,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into New South Federal Savings Bank's 2004 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 New South 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.
For a list of all lenders in Alabama, download the full spreadsheet
with aggregated HMDA statistics today.
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