Penn Security Bank & Trust Co. Mortgage Lending & HMDA Data, 2006
In 2006, Penn Security Bank & Trust Co. of Scranton, PA reported 694 mortgage applications totaling $71.3 million, up 14% from 2005. The average application was for $102,739, and applicants reported an average income of $91,923. 83% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Scranton--Wilkes-Barre, PA (569), Newark-Union, NJ-PA (14) and Philadelphia, PA (6) (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 | 694 |
| Total Mortgage Loan Application Amount | $71,301,000 |
| Average Mortgage Loan Application Amount | $102,739 |
| Highest Mortgage Loan Application Amount | $895,000 |
| Average Applicant Income | $91,923 |
| Highest Applicant Income | $1,635,000 |
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records Penn Security Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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, PA | 569 | $ 54,348,000 | $ 95,514 | $ 86,000 |
| Newark-Union, NJ-PA | 14 | $ 2,751,000 | $ 196,500 | $ 86,142 |
| Philadelphia, PA | 6 | $ 851,000 | $ 141,833 | $ 137,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 3 | $ 179,000 | $ 59,666 | $ 116,000 |
| Pittsburgh, PA | 2 | $ 405,000 | $ 202,500 | $ 150,000 |
| Burlington-South Burlington, VT | 1 | $ 156,000 | $ 156,000 | $ 31,000 |
| New York-White Plains-Wayne, NY-NJ | 1 | $ 250,000 | $ 250,000 | $ 85,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 55,000 | $ 55,000 | $ 50,000 |
Mortgage Loan Application Detail Totals for Penn Security Bank & Trust Co. in 2006
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 | 301 | $25,257,000 | $83,000 | $710,000 | $85,000 | $1,260,000 |
| Home Purchase | 247 | $40,552,000 | $164,000 | $895,000 | $108,000 | $1,635,000 |
| Home Improvement | 146 | $5,492,000 | $37,000 | $250,000 | $79,000 | $516,000 |
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 | 645 | $66,223,000 | $102,000 | $895,000 | $93,000 | $1,635,000 |
| Not Provided | 21 | $2,001,000 | $95,000 | $580,000 | $68,000 | $181,000 |
| Hispanic | 14 | $880,000 | $62,000 | $165,000 | $47,000 | $126,000 |
| Black or African American | 7 | $1,042,000 | $148,000 | $420,000 | $65,000 | $126,000 |
| Asian | 5 | $1,023,000 | $204,000 | $348,000 | $209,000 | $397,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $128,000 | $128,000 | $128,000 | $58,000 | $58,000 |
| Not applicable | 1 | $4,000 | $4,000 | $4,000 | $5,000 | $5,000 |
| American Indian or Alaskan Native | 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) | 694 | $71,301,000 | $102,000 | $895,000 | $92,000 | $1,635,000 |
| 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 | 577 | $56,970,000 | $98,000 | $895,000 | $94,000 | $1,635,000 |
| Application Denied By Financial Institution | 49 | $4,772,000 | $97,000 | $308,000 | $64,000 | $275,000 |
| Application Withdrawn By Applicant | 48 | $6,774,000 | $141,000 | $417,000 | $98,000 | $540,000 |
| File Closed For Incompleteness | 20 | $2,785,000 | $139,000 | $275,000 | $82,000 | $250,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 31 | $1,974,000 | $63,000 | $183,000 | $61,000 | $165,000 |
| Debt-To-Income Ratio | 16 | $2,465,000 | $154,000 | $290,000 | $69,000 | $275,000 |
| Collateral | 1 | $25,000 | $25,000 | $25,000 | $65,000 | $65,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $308,000 | $308,000 | $308,000 | $100,000 | $100,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 2006 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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