Olympia Federal Savings & Loan Mortgage Lending & HMDA Data, 2008
In 2008, Olympia Federal Savings & Loan of Olympia, WA reported 282 mortgage applications totaling $68.0 million, up 16% from 2007. The average application was for $241,219, and applicants reported an average income of $93,702. 86% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Olympia, WA (246) and Tacoma, WA (1).
| Mortgage Company & Address | Olympia Federal Savings & Loan 421 Capitol Way S Olympia, WA 98501 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 | 282 |
| Total Mortgage Loan Application Amount | $68,024,000 |
| Average Mortgage Loan Application Amount | $241,219 |
| Highest Mortgage Loan Application Amount | $3,550,000 |
| Average Applicant Income | $93,702 |
| Highest Applicant Income | $551,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Olympia Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Olympia Federal Savings & Loan in 2008
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 | 177 | $42,260,000 | $238,000 | $3,550,000 | $87,000 | $551,000 |
| Home Purchase | 105 | $25,764,000 | $245,000 | $1,124,000 | $105,000 | $369,000 |
| Home Improvement | 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 | 233 | $53,768,000 | $230,000 | $1,124,000 | $108,000 | $551,000 |
| Not applicable | 36 | $10,580,000 | $293,000 | $3,550,000 | $0 | $0 |
| Asian | 5 | $1,440,000 | $288,000 | $417,000 | $123,000 | $252,000 |
| Hispanic | 5 | $1,324,000 | $264,000 | $390,000 | $102,000 | $153,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $500,000 | $250,000 | $276,000 | $89,000 | $103,000 |
| American Indian or Alaskan Native | 1 | $412,000 | $412,000 | $412,000 | $112,000 | $112,000 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 282 | $68,024,000 | $241,000 | $3,550,000 | $94,000 | $551,000 |
| 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 | 243 | $57,774,000 | $237,000 | $3,550,000 | $95,000 | $551,000 |
| Application Withdrawn By Applicant | 19 | $5,048,000 | $265,000 | $971,000 | $105,000 | $521,000 |
| Application Denied By Financial Institution | 13 | $3,538,000 | $272,000 | $563,000 | $58,000 | $105,000 |
| Application Approved But Not Accepted | 6 | $1,249,000 | $208,000 | $270,000 | $65,000 | $119,000 |
| File Closed For Incompleteness | 1 | $415,000 | $415,000 | $415,000 | $152,000 | $152,000 |
| Loan Purchased By The Institution | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 8 | $2,552,000 | $319,000 | $563,000 | $42,000 | $82,000 |
| Credit History | 3 | $676,000 | $225,000 | $247,000 | $83,000 | $105,000 |
| Unverifiable Information | 1 | $95,000 | $95,000 | $95,000 | $77,000 | $77,000 |
| Mortgage Insurance Denied | 1 | $215,000 | $215,000 | $215,000 | $100,000 | $100,000 |
| Other | 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Olympia Federal Savings & Loan's 2008 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 Olympia Federal 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.
For a list of all lenders in Washington, download the full spreadsheet
with aggregated HMDA statistics today.
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