Omega Financial Services, Inc. Mortgage Lending & HMDA Data, 2011
In 2011, Omega Financial Services, Inc. of Carnegie, PA reported 635 mortgage applications totaling $126.2 million. The average application was for $198,662, and applicants reported an average income of $131,401. 88% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Pittsburgh, PA (619), Lancaster, PA (2) and Philadelphia, PA (2) (applications in parentheses).
| Mortgage Company & Address | Omega Financial Services, Inc. 900 Washington Avenue Carnegie, PA 15106 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2013 2012 2011 |
| Total Number of Mortgage Applications | 635 |
| Total Mortgage Loan Application Amount | $126,151,000 |
| Average Mortgage Loan Application Amount | $198,662 |
| Highest Mortgage Loan Application Amount | $1,440,000 |
| Average Applicant Income | $131,401 |
| Highest Applicant Income | $1,180,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Omega Financial Services, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Omega Financial Services, Inc. in 2011
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 | 424 | $94,112,000 | $221,000 | $1,440,000 | $153,000 | $1,180,000 |
| Home Purchase | 211 | $32,039,000 | $151,000 | $417,000 | $88,000 | $510,000 |
| 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 | 562 | $108,595,000 | $193,000 | $952,000 | $132,000 | $1,180,000 |
| Asian | 67 | $15,779,000 | $235,000 | $1,440,000 | $130,000 | $658,000 |
| Hispanic | 4 | $1,029,000 | $257,000 | $376,000 | $112,000 | $156,000 |
| Black or African American | 2 | $748,000 | $374,000 | $568,000 | $154,000 | $248,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 480 | $104,120,000 | $216,000 | $1,440,000 | $148,000 | $1,180,000 |
| FHA-insured (Federal Housing Administration) | 154 | $21,966,000 | $142,000 | $331,000 | $81,000 | $291,000 |
| VA-guaranteed (Veterans Administration) | 1 | $65,000 | $65,000 | $65,000 | $24,000 | $24,000 |
| 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 | 560 | $112,056,000 | $200,000 | $952,000 | $133,000 | $1,180,000 |
| Application Withdrawn By Applicant | 45 | $8,125,000 | $180,000 | $417,000 | $134,000 | $754,000 |
| Application Denied By Financial Institution | 30 | $5,970,000 | $199,000 | $1,440,000 | $101,000 | $658,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 19 | $4,266,000 | $224,000 | $1,440,000 | $122,000 | $658,000 |
| Debt-To-Income Ratio | 4 | $549,000 | $137,000 | $288,000 | $64,000 | $110,000 |
| Employment History | 2 | $418,000 | $209,000 | $328,000 | $85,000 | $92,000 |
| Other | 2 | $301,000 | $150,000 | $226,000 | $45,000 | $63,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $118,000 | $118,000 | $118,000 | $45,000 | $45,000 |
| Credit History | 1 | $96,000 | $96,000 | $96,000 | $58,000 | $58,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Omega Financial Services, Inc.'s 2011 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 Financial Services, Inc.'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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