Partners Financial Federal C U Mortgage Lending & HMDA Data, 2016
In 2016, Partners Financial Federal C U of Glen Allen, VA reported 73 mortgage applications totaling $6.9 million, down 8% from 2015. The average application was for $94,863, and applicants reported an average income of $86,794. 74% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Richmond, VA (62), Charlotte-Concord-Gastonia, NC-SC (1) and Harrisonburg, VA (1) (applications in parentheses).
| Mortgage Company & Address | Partners Financial Federal C U 1200 New York Avenue Glen Allen, VA 23060 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2004 |
| Total Number of Mortgage Applications | 73 |
| Total Mortgage Loan Application Amount | $6,925,000 |
| Average Mortgage Loan Application Amount | $94,863 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $86,794 |
| Highest Applicant Income | $308,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Partners Financial Federal C U filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Partners Financial Federal C U in 2016
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 Improvement | 42 | $752,000 | $17,000 | $182,000 | $66,000 | $242,000 |
| Refinancing | 25 | $4,903,000 | $196,000 | $417,000 | $120,000 | $308,000 |
| Home Purchase | 6 | $1,270,000 | $211,000 | $308,000 | $94,000 | $143,000 |
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 | 48 | $5,898,000 | $122,000 | $417,000 | $99,000 | $308,000 |
| Black or African American | 18 | $968,000 | $53,000 | $260,000 | $63,000 | $138,000 |
| Not Provided | 6 | $54,000 | $9,000 | $15,000 | $54,000 | $102,000 |
| Asian | 1 | $5,000 | $5,000 | $5,000 | $90,000 | $90,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiin or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 73 | $6,925,000 | $94,000 | $417,000 | $86,000 | $308,000 |
| 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 | 54 | $3,982,000 | $73,000 | $417,000 | $83,000 | $308,000 |
| Application Withdrawn By Applicant | 9 | $1,798,000 | $199,000 | $355,000 | $102,000 | $143,000 |
| File Closed For Incompleteness | 6 | $1,002,000 | $167,000 | $385,000 | $108,000 | $222,000 |
| Application Denied By Financial Institution | 4 | $143,000 | $35,000 | $126,000 | $62,000 | $113,000 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 3 | $17,000 | $5,000 | $10,000 | $46,000 | $65,000 |
| Collateral | 1 | $126,000 | $126,000 | $126,000 | $113,000 | $113,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 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 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Partners Financial Federal C U's 2016 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 Partners Financial Federal C U'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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