Newalliance Bank Mortgage Lending & HMDA Data, 2006
In 2006, Newalliance Bank of New Haven, CT reported 4,184 mortgage applications totaling $852.9 million, up 43% from 2005. The average application was for $203,859, and applicants reported an average income of $130,195. 55% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (1,551), New Haven-Milford, CT (1,387) and Bridgeport-Stamford-Norwalk, CT (214) (applications in parentheses).
| Mortgage Company & Address | Newalliance Bank 195 Church Street New Haven, CT 06510 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 | 4,184 |
| Total Mortgage Loan Application Amount | $852,947,000 |
| Average Mortgage Loan Application Amount | $203,859 |
| Highest Mortgage Loan Application Amount | $7,000,000 |
| Average Applicant Income | $130,195 |
| Highest Applicant Income | $9,767,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Newalliance Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Newalliance Bank in 2006
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 | 2,114 | $435,609,000 | $206,000 | $7,000,000 | $126,000 | $2,614,000 |
| Home Improvement | 1,054 | $72,047,000 | $68,000 | $6,500,000 | $80,000 | $893,000 |
| Home Purchase | 1,016 | $345,291,000 | $339,000 | $5,375,000 | $191,000 | $9,767,000 |
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 | 3,366 | $641,727,000 | $190,000 | $3,400,000 | $134,000 | $9,767,000 |
| Hispanic | 244 | $33,439,000 | $137,000 | $1,397,000 | $70,000 | $788,000 |
| Black or African American | 221 | $29,935,000 | $135,000 | $969,000 | $72,000 | $444,000 |
| Asian | 143 | $45,046,000 | $315,000 | $1,996,000 | $160,000 | $1,200,000 |
| Not Provided | 138 | $55,099,000 | $399,000 | $1,842,000 | $254,000 | $1,330,000 |
| Not applicable | 52 | $43,339,000 | $833,000 | $7,000,000 | $17,000 | $693,000 |
| American Indian or Alaskan Native | 11 | $2,388,000 | $217,000 | $1,000,000 | $106,000 | $435,000 |
| Native Hawaiian or Other Pacific Islander | 9 | $1,974,000 | $219,000 | $600,000 | $88,000 | $325,000 |
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) | 4,121 | $841,017,000 | $204,000 | $7,000,000 | $132,000 | $9,767,000 |
| FHA-insured (Federal Housing Administration) | 61 | $11,600,000 | $190,000 | $330,000 | $59,000 | $94,000 |
| VA-guaranteed (Veterans Administration) | 2 | $330,000 | $165,000 | $270,000 | $144,000 | $202,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 2,303 | $317,650,000 | $137,000 | $7,000,000 | $95,000 | $8,661,000 |
| Loan Purchased By The Institution | 911 | $408,685,000 | $448,000 | $2,997,000 | $273,000 | $9,767,000 |
| Application Denied By Financial Institution | 635 | $66,781,000 | $105,000 | $3,000,000 | $71,000 | $1,498,000 |
| Application Approved But Not Accepted | 192 | $29,139,000 | $151,000 | $2,900,000 | $86,000 | $749,000 |
| Application Withdrawn By Applicant | 143 | $30,692,000 | $214,000 | $1,100,000 | $109,000 | $1,800,000 |
| File Closed For Incompleteness | 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 | 37 | $8,930,000 | $241,000 | $1,500,000 | $91,000 | $434,000 |
| Debt-To-Income Ratio | 36 | $8,253,000 | $229,000 | $1,250,000 | $50,000 | $194,000 |
| Credit History | 31 | $6,733,000 | $217,000 | $550,000 | $79,000 | $376,000 |
| Other | 10 | $4,618,000 | $461,000 | $3,000,000 | $206,000 | $1,498,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 6 | $1,274,000 | $212,000 | $300,000 | $117,000 | $194,000 |
| Credit Application Incomplete | 4 | $955,000 | $238,000 | $424,000 | $87,000 | $167,000 |
| Employment History | 3 | $125,000 | $41,000 | $113,000 | $47,000 | $52,000 |
| Mortgage Insurance Denied | 1 | $720,000 | $720,000 | $720,000 | $224,000 | $224,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Newalliance Bank's 2006 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 Newalliance 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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with aggregated HMDA statistics today.
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