Penn Security Bank & Trust Co. Mortgage Lending & HMDA Data, 2008
In 2008, Penn Security Bank & Trust Co. of Scranton, PA reported 449 mortgage applications totaling $59.9 million, down 3% from 2007. The average application was for $133,445, and applicants reported an average income of $98,570. 73% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Scranton--Wilkes-Barre, PA (322), Newark-Union, NJ-PA (17) and Allentown-Bethlehem-Easton, PA-NJ (2) (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 | 449 |
| Total Mortgage Loan Application Amount | $59,917,000 |
| Average Mortgage Loan Application Amount | $133,445 |
| Highest Mortgage Loan Application Amount | $1,400,000 |
| Average Applicant Income | $98,570 |
| Highest Applicant Income | $1,016,000 |
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records Penn Security Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 291 | $ 36,843,000 | $ 126,608 | $ 92,000 |
| Monroe, Pennsylvania | 78 | $ 10,926,000 | $ 140,076 | $ 108,000 |
| Luzerne, Pennsylvania | 21 | $ 3,022,000 | $ 143,904 | $ 87,000 |
| Pike, Pennsylvania | 17 | $ 3,010,000 | $ 177,058 | $ 109,000 |
| Wayne, Pennsylvania | 12 | $ 1,067,000 | $ 88,916 | $ 58,000 |
| Wyoming, Pennsylvania | 10 | $ 1,000,000 | $ 100,000 | $ 76,000 |
| Susquehanna, Pennsylvania | 8 | $ 830,000 | $ 103,750 | $ 88,000 |
| Maricopa, Arizona | 1 | $ 504,000 | $ 504,000 | $ 180,000 |
| Bergen, New Jersey | 1 | $ 140,000 | $ 140,000 | $ 53,000 |
| Cape May, New Jersey | 1 | $ 1,000,000 | $ 1,000,000 | $ 308,000 |
| Ocean, New Jersey | 1 | $ 400,000 | $ 400,000 | $ 300,000 |
| New York, New York | 1 | $ 155,000 | $ 155,000 | $ 126,000 |
| Butler, Pennsylvania | 1 | $ 50,000 | $ 50,000 | $ 167,000 |
| Carbon, Pennsylvania | 1 | $ 155,000 | $ 155,000 | $ 128,000 |
| Centre, Pennsylvania | 1 | $ 175,000 | $ 175,000 | $ 1,016,000 |
| Delaware, Pennsylvania | 1 | $ 182,000 | $ 182,000 | $ 206,000 |
| Northampton, Pennsylvania | 1 | $ 21,000 | $ 21,000 | $ 83,000 |
| Washington, Pennsylvania | 1 | $ 12,000 | $ 12,000 | $ 333,000 |
| Rhea, Tennessee | 1 | $ 425,000 | $ 425,000 | $ 238,000 |
Mortgage Loan Application Detail Totals for Penn Security Bank & Trust Co. in 2008
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 | 211 | $27,026,000 | $128,000 | $1,320,000 | $86,000 | $427,000 |
| Home Purchase | 120 | $24,790,000 | $206,000 | $1,400,000 | $135,000 | $1,016,000 |
| Home Improvement | 118 | $8,101,000 | $68,000 | $630,000 | $84,000 | $399,000 |
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 | 420 | $56,393,000 | $134,000 | $1,400,000 | $100,000 | $1,016,000 |
| Hispanic | 19 | $2,178,000 | $114,000 | $271,000 | $55,000 | $110,000 |
| Black or African American | 6 | $911,000 | $151,000 | $368,000 | $61,000 | $110,000 |
| Not Provided | 3 | $119,000 | $39,000 | $84,000 | $59,000 | $78,000 |
| Asian | 1 | $316,000 | $316,000 | $316,000 | $563,000 | $563,000 |
| 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) | 449 | $59,917,000 | $133,000 | $1,400,000 | $98,000 | $1,016,000 |
| 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 | 326 | $39,127,000 | $120,000 | $1,320,000 | $100,000 | $1,016,000 |
| Application Denied By Financial Institution | 64 | $7,386,000 | $115,000 | $376,000 | $56,000 | $164,000 |
| Application Withdrawn By Applicant | 42 | $9,789,000 | $233,000 | $1,400,000 | $141,000 | $821,000 |
| File Closed For Incompleteness | 17 | $3,615,000 | $212,000 | $630,000 | $112,000 | $300,000 |
| 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 | 28 | $4,034,000 | $144,000 | $376,000 | $51,000 | $108,000 |
| Credit History | 26 | $1,987,000 | $76,000 | $307,000 | $56,000 | $144,000 |
| Collateral | 5 | $585,000 | $117,000 | $215,000 | $66,000 | $142,000 |
| Employment History | 2 | $195,000 | $97,000 | $170,000 | $52,000 | $69,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $270,000 | $270,000 | $270,000 | $9,000 | $9,000 |
| Other | 1 | $15,000 | $15,000 | $15,000 | $164,000 | $164,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Penn Security Bank & Trust Co.'s 2008 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.
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with aggregated HMDA statistics today.
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