Penn Security Bank & Trust Co. Mortgage Lending & HMDA Data, 2012
In 2012, Penn Security Bank & Trust Co. of Scranton, PA reported 847 mortgage applications totaling $122.4 million, up 9% from 2011. The average application was for $144,536, and applicants reported an average income of $88,969. 65% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Scranton--Wilkes-Barre, PA (689), Newark-Union, NJ-PA (11) 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 | 847 |
| Total Mortgage Loan Application Amount | $122,422,000 |
| Average Mortgage Loan Application Amount | $144,536 |
| Highest Mortgage Loan Application Amount | $4,700,000 |
| Average Applicant Income | $88,969 |
| Highest Applicant Income | $987,000 |
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records Penn Security Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Penn Security Bank & Trust Co. in 2012
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 | 473 | $79,052,000 | $167,000 | $4,700,000 | $95,000 | $987,000 |
| Home Purchase | 195 | $29,921,000 | $153,000 | $2,100,000 | $89,000 | $773,000 |
| Home Improvement | 179 | $13,449,000 | $75,000 | $650,000 | $73,000 | $561,000 |
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 | 646 | $85,036,000 | $131,000 | $875,000 | $89,000 | $987,000 |
| Not Provided | 143 | $21,049,000 | $147,000 | $417,000 | $101,000 | $494,000 |
| Not applicable | 22 | $11,404,000 | $518,000 | $4,700,000 | $1,000 | $40,000 |
| Asian | 16 | $2,326,000 | $145,000 | $872,000 | $126,000 | $773,000 |
| Hispanic | 15 | $1,768,000 | $117,000 | $200,000 | $74,000 | $190,000 |
| Black or African American | 5 | $839,000 | $167,000 | $364,000 | $105,000 | $206,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 847 | $122,422,000 | $144,000 | $4,700,000 | $89,000 | $987,000 |
| 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 | 550 | $78,806,000 | $143,000 | $4,700,000 | $92,000 | $987,000 |
| Application Denied By Financial Institution | 130 | $16,243,000 | $124,000 | $480,000 | $63,000 | $293,000 |
| Application Withdrawn By Applicant | 93 | $16,497,000 | $177,000 | $875,000 | $99,000 | $494,000 |
| File Closed For Incompleteness | 51 | $7,632,000 | $149,000 | $416,000 | $99,000 | $316,000 |
| Application Approved But Not Accepted | 23 | $3,244,000 | $141,000 | $315,000 | $97,000 | $270,000 |
| 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 | 47 | $6,265,000 | $133,000 | $450,000 | $42,000 | $145,000 |
| Credit History | 45 | $3,485,000 | $77,000 | $280,000 | $61,000 | $248,000 |
| Collateral | 34 | $6,131,000 | $180,000 | $480,000 | $99,000 | $293,000 |
| Unverifiable Information | 2 | $226,000 | $113,000 | $157,000 | $26,000 | $52,000 |
| Mortgage Insurance Denied | 1 | $127,000 | $127,000 | $127,000 | $74,000 | $74,000 |
| Other | 1 | $9,000 | $9,000 | $9,000 | $36,000 | $36,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Penn Security Bank & Trust Co.'s 2012 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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