Phoenixville Federal Bank & Tr Mortgage Lending & HMDA Data, 2008
In 2008, Phoenixville Federal Bank & Tr of Phoenixville, PA reported 202 mortgage applications totaling $33.6 million, down 41% from 2007. The average application was for $166,519, and applicants reported an average income of $84,178. 70% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Philadelphia, PA (162), Reading, PA (2) and Edison-New Brunswick, NJ (1) (applications in parentheses).
| Mortgage Company & Address | Phoenixville Federal Bank & Tr 564 Nutt Road (Rt. 23), P.O. Box 629 Phoenixville, PA 19460 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 202 |
| Total Mortgage Loan Application Amount | $33,637,000 |
| Average Mortgage Loan Application Amount | $166,519 |
| Highest Mortgage Loan Application Amount | $900,000 |
| Average Applicant Income | $84,178 |
| Highest Applicant Income | $607,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Phoenixville Federal Bank & Tr filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Philadelphia, PA | 162 | $ 25,278,000 | $ 156,037 | $ 87,000 |
| Reading, PA | 2 | $ 907,000 | $ 453,500 | $ 9,000 |
| Edison-New Brunswick, NJ | 1 | $ 250,000 | $ 250,000 | $ 30,000 |
| Ocean City, NJ | 1 | $ 166,000 | $ 166,000 | $ 31,000 |
Mortgage Loan Application Detail Totals for Phoenixville Federal Bank & Tr 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 88 | $18,194,000 | $206,000 | $805,000 | $84,000 | $425,000 |
| Refinancing | 63 | $11,315,000 | $179,000 | $900,000 | $87,000 | $607,000 |
| Home Improvement | 51 | $4,128,000 | $80,000 | $885,000 | $81,000 | $430,000 |
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 | 175 | $26,686,000 | $152,000 | $900,000 | $89,000 | $607,000 |
| Not applicable | 10 | $4,031,000 | $403,000 | $805,000 | $3,000 | $33,000 |
| Not Provided | 10 | $2,003,000 | $200,000 | $417,000 | $90,000 | $425,000 |
| Hispanic | 4 | $407,000 | $101,000 | $141,000 | $54,000 | $77,000 |
| Black or African American | 2 | $139,000 | $69,000 | $119,000 | $44,000 | $47,000 |
| Asian | 1 | $371,000 | $371,000 | $371,000 | $132,000 | $132,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $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) | 202 | $33,637,000 | $166,000 | $900,000 | $84,000 | $607,000 |
| 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 | 142 | $23,044,000 | $162,000 | $900,000 | $85,000 | $607,000 |
| Preapproval Approved but not Accepted | 18 | $3,946,000 | $219,000 | $417,000 | $103,000 | $425,000 |
| Preapproval Denied by Financial Institution | 14 | $2,731,000 | $195,000 | $380,000 | $53,000 | $81,000 |
| Application Denied By Financial Institution | 13 | $1,161,000 | $89,000 | $213,000 | $50,000 | $144,000 |
| Application Withdrawn By Applicant | 10 | $1,887,000 | $188,000 | $417,000 | $107,000 | $202,000 |
| Application Approved But Not Accepted | 4 | $833,000 | $208,000 | $405,000 | $146,000 | $320,000 |
| File Closed For Incompleteness | 1 | $35,000 | $35,000 | $35,000 | $43,000 | $43,000 |
| 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 | 13 | $1,481,000 | $113,000 | $213,000 | $47,000 | $81,000 |
| Debt-To-Income Ratio | 12 | $2,168,000 | $180,000 | $380,000 | $47,000 | $68,000 |
| Collateral | 1 | $63,000 | $63,000 | $63,000 | $68,000 | $68,000 |
| Credit Application Incomplete | 1 | $180,000 | $180,000 | $180,000 | $144,000 | $144,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Phoenixville Federal Bank & Tr'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 Phoenixville Federal Bank & Tr'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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