Omega Bank Mortgage Lending & HMDA Data, 2007
In 2007, Omega Bank of State College, PA reported 1,426 mortgage applications totaling $82.9 million, down 30% from 2006. The average application was for $58,159, and applicants reported an average income of $63,382. 82% of its applications resulted in an originated loan and 11% were denied. Its largest markets were State College, PA (244), Altoona, PA (214) and Williamsport, PA (79) (applications in parentheses).
| Mortgage Company & Address | Omega Bank Po Box 298 State College, PA 16804 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 |
| Total Number of Mortgage Applications | 1,426 |
| Total Mortgage Loan Application Amount | $82,935,000 |
| Average Mortgage Loan Application Amount | $58,159 |
| Highest Mortgage Loan Application Amount | $4,000,000 |
| Average Applicant Income | $63,382 |
| Highest Applicant Income | $1,302,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Omega Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Centre, Pennsylvania | 244 | $ 14,304,000 | $ 58,622 | $ 70,000 |
| Blair, Pennsylvania | 214 | $ 12,009,000 | $ 56,116 | $ 65,000 |
| Mifflin, Pennsylvania | 174 | $ 8,523,000 | $ 48,982 | $ 54,000 |
| Huntingdon, Pennsylvania | 161 | $ 8,841,000 | $ 54,913 | $ 63,000 |
| Northumberland, Pennsylvania | 130 | $ 9,793,000 | $ 75,330 | $ 57,000 |
| Clinton, Pennsylvania | 79 | $ 4,585,000 | $ 58,037 | $ 57,000 |
| Lycoming, Pennsylvania | 79 | $ 4,359,000 | $ 55,177 | $ 58,000 |
| Luzerne, Pennsylvania | 71 | $ 3,104,000 | $ 43,718 | $ 63,000 |
| Snyder, Pennsylvania | 67 | $ 4,801,000 | $ 71,656 | $ 51,000 |
| Bedford, Pennsylvania | 63 | $ 3,270,000 | $ 51,904 | $ 61,000 |
| Juniata, Pennsylvania | 60 | $ 3,560,000 | $ 59,333 | $ 74,000 |
| Union, Pennsylvania | 48 | $ 2,484,000 | $ 51,750 | $ 72,000 |
| Cambria, Pennsylvania | 6 | $ 230,000 | $ 38,333 | $ 75,000 |
| Perry, Pennsylvania | 6 | $ 1,354,000 | $ 225,666 | $ 57,000 |
| Clearfield, Pennsylvania | 5 | $ 376,000 | $ 75,200 | $ 43,000 |
| Columbia, Pennsylvania | 5 | $ 226,000 | $ 45,200 | $ 58,000 |
| Montour, Pennsylvania | 5 | $ 335,000 | $ 67,000 | $ 90,000 |
| Fulton, Pennsylvania | 2 | $ 260,000 | $ 130,000 | $ 17,000 |
| Anne Arundel, Maryland | 1 | $ 100,000 | $ 100,000 | $ 1,302,000 |
| Schuyler, New York | 1 | $ 126,000 | $ 126,000 | $ 275,000 |
| Bucks, Pennsylvania | 1 | $ 39,000 | $ 39,000 | $ 144,000 |
| Dauphin, Pennsylvania | 1 | $ 135,000 | $ 135,000 | $ 142,000 |
| Elk, Pennsylvania | 1 | $ 58,000 | $ 58,000 | $ 69,000 |
| Potter, Pennsylvania | 1 | $ 30,000 | $ 30,000 | $ 49,000 |
| Sullivan, Pennsylvania | 1 | $ 33,000 | $ 33,000 | $ 28,000 |
Mortgage Loan Application Detail Totals for Omega Bank in 2007
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 | 598 | $40,177,000 | $67,000 | $4,000,000 | $62,000 | $604,000 |
| Home Improvement | 560 | $20,149,000 | $35,000 | $376,000 | $66,000 | $1,302,000 |
| Home Purchase | 268 | $22,609,000 | $84,000 | $1,055,000 | $61,000 | $426,000 |
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 | 1,341 | $71,693,000 | $53,000 | $606,000 | $63,000 | $1,302,000 |
| Not Provided | 40 | $2,316,000 | $57,000 | $230,000 | $72,000 | $426,000 |
| Not applicable | 25 | $7,731,000 | $309,000 | $4,000,000 | $74,000 | $376,000 |
| Hispanic | 13 | $488,000 | $37,000 | $72,000 | $72,000 | $300,000 |
| Asian | 4 | $540,000 | $135,000 | $365,000 | $118,000 | $283,000 |
| Black or African American | 2 | $57,000 | $28,000 | $32,000 | $49,000 | $75,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $110,000 | $110,000 | $110,000 | $50,000 | $50,000 |
| American Indian or Alaskan Native | 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) | 1,426 | $82,935,000 | $58,000 | $4,000,000 | $63,000 | $1,302,000 |
| 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 | 1,168 | $69,290,000 | $59,000 | $4,000,000 | $67,000 | $1,302,000 |
| Application Denied By Financial Institution | 150 | $6,153,000 | $41,000 | $210,000 | $48,000 | $300,000 |
| Application Approved But Not Accepted | 54 | $3,657,000 | $67,000 | $215,000 | $58,000 | $180,000 |
| Application Withdrawn By Applicant | 39 | $2,162,000 | $55,000 | $150,000 | $51,000 | $110,000 |
| Loan Purchased By The Institution | 15 | $1,673,000 | $111,000 | $259,000 | $20,000 | $85,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 67 | $2,683,000 | $40,000 | $210,000 | $42,000 | $175,000 |
| Credit History | 66 | $2,398,000 | $36,000 | $135,000 | $50,000 | $300,000 |
| Collateral | 7 | $410,000 | $58,000 | $140,000 | $65,000 | $96,000 |
| Other | 5 | $298,000 | $59,000 | $115,000 | $47,000 | $82,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $244,000 | $81,000 | $138,000 | $44,000 | $68,000 |
| Unverifiable Information | 2 | $120,000 | $60,000 | $90,000 | $72,000 | $120,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Omega Bank's 2007 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 Omega 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 Pennsylvania, download the full spreadsheet
with aggregated HMDA statistics today.
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