Penn Security Bank & Trust Co. Mortgage Lending & HMDA Data, 2007
In 2007, Penn Security Bank & Trust Co. of Scranton, PA reported 465 mortgage applications totaling $63.4 million, down 33% from 2006. The average application was for $136,318, and applicants reported an average income of $106,141. 82% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Scranton--Wilkes-Barre, PA (353), Newark-Union, NJ-PA (9) and Allentown-Bethlehem-Easton, PA-NJ (5) (applications in parentheses).
| Mortgage Company & Address | Penn Security Bank & Trust Co. 150 N Washington Avenue Scranton, PA 18503 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 465 |
| Total Mortgage Loan Application Amount | $63,388,000 |
| Average Mortgage Loan Application Amount | $136,318 |
| Highest Mortgage Loan Application Amount | $1,238,000 |
| Average Applicant Income | $106,141 |
| Highest Applicant Income | $1,458,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Penn Security Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Lackawanna, Pennsylvania | 337 | $ 42,997,000 | $ 127,587 | $ 95,000 |
| Monroe, Pennsylvania | 63 | $ 9,294,000 | $ 147,523 | $ 99,000 |
| Luzerne, Pennsylvania | 13 | $ 2,147,000 | $ 165,153 | $ 210,000 |
| Wayne, Pennsylvania | 12 | $ 1,572,000 | $ 131,000 | $ 113,000 |
| Susquehanna, Pennsylvania | 11 | $ 1,456,000 | $ 132,363 | $ 88,000 |
| Pike, Pennsylvania | 9 | $ 913,000 | $ 101,444 | $ 245,000 |
| Northampton, Pennsylvania | 3 | $ 783,000 | $ 261,000 | $ 80,000 |
| Wyoming, Pennsylvania | 3 | $ 399,000 | $ 133,000 | $ 125,000 |
| Suffolk, Massachusetts | 1 | $ 610,000 | $ 610,000 | $ 538,000 |
| Atlantic, New Jersey | 1 | $ 1,238,000 | $ 1,238,000 | $ 400,000 |
| Ocean, New Jersey | 1 | $ 231,000 | $ 231,000 | $ 151,000 |
| Warren, New Jersey | 1 | $ 260,000 | $ 260,000 | $ 56,000 |
| Berks, Pennsylvania | 1 | $ 50,000 | $ 50,000 | $ 116,000 |
| Bucks, Pennsylvania | 1 | $ 60,000 | $ 60,000 | $ 38,000 |
| Centre, Pennsylvania | 1 | $ 125,000 | $ 125,000 | $ 259,000 |
| Chester, Pennsylvania | 1 | $ 125,000 | $ 125,000 | $ 37,000 |
| Dauphin, Pennsylvania | 1 | $ 204,000 | $ 204,000 | $ 101,000 |
| Delaware, Pennsylvania | 1 | $ 275,000 | $ 275,000 | $ 570,000 |
| Lehigh, Pennsylvania | 1 | $ 300,000 | $ 300,000 | $ 143,000 |
| Montour, Pennsylvania | 1 | $ 200,000 | $ 200,000 | $ 512,000 |
| Beaufort, South Carolina | 1 | $ 50,000 | $ 50,000 | $ 112,000 |
| Nueces, Texas | 1 | $ 99,000 | $ 99,000 | $ 67,000 |
Mortgage Loan Application Detail Totals for Penn Security Bank & Trust Co. 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 | 246 | $24,945,000 | $101,000 | $544,000 | $98,000 | $1,458,000 |
| Home Purchase | 166 | $36,244,000 | $218,000 | $1,238,000 | $124,000 | $588,000 |
| Home Improvement | 53 | $2,199,000 | $41,000 | $400,000 | $88,000 | $664,000 |
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 | 438 | $58,639,000 | $133,000 | $1,238,000 | $106,000 | $1,458,000 |
| Hispanic | 9 | $1,077,000 | $119,000 | $320,000 | $72,000 | $150,000 |
| Black or African American | 8 | $1,580,000 | $197,000 | $400,000 | $154,000 | $482,000 |
| Not Provided | 6 | $1,035,000 | $172,000 | $345,000 | $84,000 | $150,000 |
| American Indian or Alaskan Native | 2 | $405,000 | $202,000 | $370,000 | $114,000 | $120,000 |
| Asian | 1 | $412,000 | $412,000 | $412,000 | $104,000 | $104,000 |
| Not applicable | 1 | $240,000 | $240,000 | $240,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 465 | $63,388,000 | $136,000 | $1,238,000 | $106,000 | $1,458,000 |
| 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 | 380 | $48,360,000 | $127,000 | $1,238,000 | $104,000 | $1,458,000 |
| Application Denied By Financial Institution | 35 | $5,060,000 | $144,000 | $525,000 | $77,000 | $380,000 |
| Application Withdrawn By Applicant | 34 | $6,938,000 | $204,000 | $610,000 | $161,000 | $561,000 |
| File Closed For Incompleteness | 14 | $2,701,000 | $192,000 | $400,000 | $105,000 | $177,000 |
| Application Approved But Not Accepted | 2 | $329,000 | $164,000 | $190,000 | $101,000 | $122,000 |
| 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 | 15 | $2,675,000 | $178,000 | $415,000 | $71,000 | $197,000 |
| Credit History | 13 | $1,262,000 | $97,000 | $260,000 | $80,000 | $380,000 |
| Collateral | 2 | $545,000 | $272,000 | $525,000 | $102,000 | $143,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $209,000 | $104,000 | $122,000 | $51,000 | $72,000 |
| Mortgage Insurance Denied | 1 | $110,000 | $110,000 | $110,000 | $66,000 | $66,000 |
| Other | 1 | $99,000 | $99,000 | $99,000 | $67,000 | $67,000 |
| Unverifiable Information | 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 Penn Security Bank & Trust Co.'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 Penn Security Bank & Trust Co.'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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