Penn Security Bank & Trust Co. Mortgage Lending & HMDA Data, 2003
In 2003, Penn Security Bank & Trust Co. of Scranton, PA reported 972 mortgage applications totaling $91.1 million. The average application was for $93,767, and applicants reported an average income of $71,834. 82% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Scranton--Wilkes-Barre--Hazleton, PA (685), Philadelphia, PA-NJ (5) and Allentown-Bethlehem-Easton, PA (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 | 972 |
| Total Mortgage Loan Application Amount | $91,142,000 |
| Average Mortgage Loan Application Amount | $93,767 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $71,834 |
| Highest Applicant Income | $1,434,000 |
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records Penn Security Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Scranton--Wilkes-Barre--Hazleton, PA | 685 | $ 61,751,000 | $ 90,147 | $ 62,000 |
| Philadelphia, PA-NJ | 5 | $ 794,000 | $ 158,800 | $ 75,000 |
| Allentown-Bethlehem-Easton, PA | 2 | $ 436,000 | $ 218,000 | $ 127,000 |
| Bergen-Passaic, NJ | 1 | $ 323,000 | $ 323,000 | $ 300,000 |
| Binghamton, NY | 1 | $ 33,000 | $ 33,000 | $ 0 |
| Chicago, IL | 1 | $ 200,000 | $ 200,000 | $ 127,000 |
| Dutchess County, NY | 1 | $ 50,000 | $ 50,000 | $ 29,000 |
| Fort Lauderdale, FL | 1 | $ 54,000 | $ 54,000 | $ 26,000 |
| Los Angeles-Long Beach, CA | 1 | $ 4,000 | $ 4,000 | $ 19,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 320,000 | $ 320,000 | $ 140,000 |
Mortgage Loan Application Detail Totals for Penn Security Bank & Trust Co. in 2003
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 (home purchase or home improvement, one-to-four family) | 709 | $68,223,000 | $150,000 | $360,000 | $107,428 | $1,434,000 |
| Home Purchase (one-to-four family) | 180 | $20,656,000 | $137,000 | $1,000,000 | $196,000 | $684,000 |
| Home Improvement (one-to-four family) | 82 | $2,153,000 | $26,000 | $160,000 | $65,000 | $503,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 1 | $110,000 | $110,000 | $110,000 | $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 | 934 | $86,888,000 | $149,875 | $1,000,000 | $130,625 | $1,434,000 |
| Hispanic | 17 | $1,917,000 | $83,000 | $250,000 | $58,000 | $252,000 |
| Black | 8 | $1,027,000 | $128,000 | $240,000 | $73,000 | $125,000 |
| Information not provided by applicant in mail or telephone application | 7 | $644,000 | $92,000 | $160,000 | $99,000 | $190,000 |
| Other | 3 | $185,000 | $61,000 | $91,000 | $49,000 | $80,000 |
| Asian or Pacific Islander | 2 | $384,000 | $192,000 | $360,000 | $165,000 | $200,000 |
| American Indian or Alaskan Native | 1 | $97,000 | $97,000 | $97,000 | $61,000 | $61,000 |
| 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) | 972 | $91,142,000 | $151,000 | $1,000,000 | $133,000 | $1,434,000 |
| 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 | 797 | $71,767,000 | $149,500 | $360,000 | $132,250 | $1,434,000 |
| Application Withdrawn By Applicant | 106 | $13,114,000 | $123,000 | $1,000,000 | $76,000 | $363,000 |
| Application Denied By Financial Institution | 61 | $5,482,000 | $70,000 | $360,000 | $42,000 | $200,000 |
| File Closed For Incompleteness | 7 | $637,000 | $91,000 | $165,000 | $82,000 | $190,000 |
| Application Approved But Not Accepted | 1 | $142,000 | $142,000 | $142,000 | $55,000 | $55,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Credit History | 38 | $2,886,000 | $63,000 | $160,000 | $43,000 | $181,000 |
| Debt-To-Income Ratio | 16 | $1,596,000 | $99,000 | $200,000 | $40,000 | $69,000 |
| Collateral | 4 | $325,000 | $81,000 | $150,000 | $52,000 | $75,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $360,000 | $360,000 | $360,000 | $200,000 | $200,000 |
| Mortgage Insurance Denied | 1 | $115,000 | $115,000 | $115,000 | $44,000 | $44,000 |
| Other | 1 | $200,000 | $200,000 | $200,000 | $57,000 | $57,000 |
| 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 2003 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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