Partners Financial Federal C U Mortgage Lending & HMDA Data, 2011
In 2011, Partners Financial Federal C U of Glen Allen, VA reported 149 mortgage applications totaling $4.3 million, up 6% from 2010. The average application was for $29,040, and applicants reported an average income of $68,429. 65% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Richmond, VA (121), Baltimore-Towson, MD (4) and Virginia Beach-Norfolk-Newport News, VA-NC (4) (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 | 149 |
| Total Mortgage Loan Application Amount | $4,327,000 |
| Average Mortgage Loan Application Amount | $29,040 |
| Highest Mortgage Loan Application Amount | $300,000 |
| Average Applicant Income | $68,429 |
| Highest Applicant Income | $261,000 |
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records Partners Financial Federal C U filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Richmond, VA | 121 | $ 3,810,000 | $ 31,487 | $ 69,000 |
| Baltimore-Towson, MD | 4 | $ 33,000 | $ 8,250 | $ 75,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 4 | $ 193,000 | $ 48,250 | $ 88,000 |
| Charlotte-Gastonia-Rock Hill, NC-SC | 2 | $ 21,000 | $ 10,500 | $ 50,000 |
| Roanoke, VA | 2 | $ 7,000 | $ 3,500 | $ 49,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 2 | $ 12,000 | $ 6,000 | $ 75,000 |
| Atlanta-Sandy Springs-Marietta, GA | 1 | $ 7,000 | $ 7,000 | $ 85,000 |
| Cumberland, MD-WV | 1 | $ 4,000 | $ 4,000 | $ 27,000 |
| Florence, SC | 1 | $ 2,000 | $ 2,000 | $ 46,000 |
| Hagerstown-Martinsburg, MD-WV | 1 | $ 2,000 | $ 2,000 | $ 31,000 |
| Jacksonville, FL | 1 | $ 6,000 | $ 6,000 | $ 36,000 |
| Kingsport-Bristol-Bristol, TN-VA | 1 | $ 13,000 | $ 13,000 | $ 82,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 120,000 | $ 120,000 | $ 42,000 |
Mortgage Loan Application Detail Totals for Partners Financial Federal C U 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 |
|---|---|---|---|---|---|---|
| Home Improvement | 122 | $1,150,000 | $9,000 | $165,000 | $63,000 | $179,000 |
| Refinancing | 22 | $2,559,000 | $116,000 | $300,000 | $100,000 | $261,000 |
| Home Purchase | 5 | $618,000 | $123,000 | $184,000 | $62,000 | $162,000 |
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 | 67 | $2,224,000 | $33,000 | $219,000 | $71,000 | $261,000 |
| Black or African American | 48 | $1,157,000 | $24,000 | $225,000 | $65,000 | $176,000 |
| Not Provided | 28 | $258,000 | $9,000 | $20,000 | $68,000 | $179,000 |
| Hispanic | 5 | $388,000 | $77,000 | $184,000 | $36,000 | $68,000 |
| Asian | 1 | $300,000 | $300,000 | $300,000 | $169,000 | $169,000 |
| 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 |
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) | 149 | $4,327,000 | $29,000 | $300,000 | $68,000 | $261,000 |
| 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 | 97 | $2,385,000 | $24,000 | $219,000 | $73,000 | $261,000 |
| Application Denied By Financial Institution | 27 | $643,000 | $23,000 | $225,000 | $53,000 | $135,000 |
| Application Withdrawn By Applicant | 22 | $801,000 | $36,000 | $300,000 | $70,000 | $169,000 |
| File Closed For Incompleteness | 2 | $314,000 | $157,000 | $184,000 | $39,000 | $49,000 |
| Application Approved But Not Accepted | 1 | $184,000 | $184,000 | $184,000 | $31,000 | $31,000 |
| 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 | 17 | $115,000 | $6,000 | $20,000 | $45,000 | $77,000 |
| Credit History | 7 | $108,000 | $15,000 | $75,000 | $72,000 | $135,000 |
| Other | 3 | $420,000 | $140,000 | $225,000 | $59,000 | $96,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Partners Financial Federal C U'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 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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