Polonia Bank Mortgage Lending & HMDA Data, 2014
In 2014, Polonia Bank of Huntingdon Valley, PA reported 679 mortgage applications totaling $111.5 million, down 22% from 2013. The average application was for $164,269, and applicants reported an average income of $65,131. 79% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Philadelphia, PA (522), Montgomery County-Bucks County-Chester County, PA (107) and Washington-Arlington-Alexandria, DC-VA-MD-WV (22) (applications in parentheses).
| Mortgage Company & Address | Polonia Bank 3993 Huntingdon Pike Huntingdon Valley, PA 19006 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 679 |
| Total Mortgage Loan Application Amount | $111,539,000 |
| Average Mortgage Loan Application Amount | $164,269 |
| Highest Mortgage Loan Application Amount | $1,137,000 |
| Average Applicant Income | $65,131 |
| Highest Applicant Income | $1,600,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Polonia Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Philadelphia, Pennsylvania | 503 | $ 56,939,000 | $ 113,198 | $ 43,000 |
| Bucks, Pennsylvania | 62 | $ 16,741,000 | $ 270,016 | $ 112,000 |
| Montgomery, Pennsylvania | 39 | $ 9,222,000 | $ 236,461 | $ 99,000 |
| Delaware, Pennsylvania | 19 | $ 5,125,000 | $ 269,736 | $ 109,000 |
| Loudoun, Virginia | 16 | $ 7,397,000 | $ 462,312 | $ 152,000 |
| Chester, Pennsylvania | 6 | $ 2,702,000 | $ 450,333 | $ 217,000 |
| Cape May, New Jersey | 4 | $ 1,974,000 | $ 493,500 | $ 192,000 |
| Gloucester, New Jersey | 4 | $ 584,000 | $ 146,000 | $ 54,000 |
| Prince William, Virginia | 4 | $ 2,457,000 | $ 614,250 | $ 222,000 |
| Morris, New Jersey | 3 | $ 1,470,000 | $ 490,000 | $ 184,000 |
| New Castle, Delaware | 2 | $ 1,241,000 | $ 620,500 | $ 201,000 |
| Camden, New Jersey | 2 | $ 444,000 | $ 222,000 | $ 130,000 |
| Mercer, New Jersey | 2 | $ 695,000 | $ 347,500 | $ 139,000 |
| Dutchess, New York | 2 | $ 667,000 | $ 333,500 | $ 101,000 |
| Berks, Pennsylvania | 2 | $ 287,000 | $ 143,500 | $ 61,000 |
| Spotsylvania, Virginia | 2 | $ 906,000 | $ 453,000 | $ 246,000 |
| Anne Arundel, Maryland | 1 | $ 600,000 | $ 600,000 | $ 969,000 |
| Atlantic, New Jersey | 1 | $ 375,000 | $ 375,000 | $ 0 |
| Bergen, New Jersey | 1 | $ 257,000 | $ 257,000 | $ 62,000 |
| Hunterdon, New Jersey | 1 | $ 418,000 | $ 418,000 | $ 329,000 |
| Monmouth, New Jersey | 1 | $ 626,000 | $ 626,000 | $ 304,000 |
| Wake, North Carolina | 1 | $ 276,000 | $ 276,000 | $ 133,000 |
| Cumberland, Pennsylvania | 1 | $ 136,000 | $ 136,000 | $ 41,000 |
Mortgage Loan Application Detail Totals for Polonia Bank in 2014
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 | 631 | $104,004,000 | $164,000 | $1,137,000 | $64,000 | $1,600,000 |
| Refinancing | 48 | $7,535,000 | $156,000 | $868,000 | $80,000 | $355,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $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 |
|---|---|---|---|---|---|---|
| Hispanic | 302 | $32,467,000 | $107,000 | $682,000 | $36,000 | $259,000 |
| White | 153 | $33,187,000 | $216,000 | $1,137,000 | $90,000 | $375,000 |
| Black or African American | 125 | $15,373,000 | $122,000 | $545,000 | $46,000 | $300,000 |
| Asian | 52 | $9,973,000 | $191,000 | $752,000 | $73,000 | $376,000 |
| Not Provided | 45 | $20,048,000 | $445,000 | $992,000 | $232,000 | $1,600,000 |
| Not applicable | 2 | $491,000 | $245,000 | $375,000 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 457 | $51,237,000 | $112,000 | $386,000 | $37,000 | $300,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 212 | $58,762,000 | $277,000 | $1,137,000 | $126,000 | $1,600,000 |
| VA-guaranteed (Veterans Administration) | 10 | $1,540,000 | $154,000 | $250,000 | $62,000 | $149,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 535 | $71,459,000 | $133,000 | $1,075,000 | $53,000 | $1,600,000 |
| Loan Purchased By The Institution | 54 | $28,297,000 | $524,000 | $1,137,000 | $212,000 | $519,000 |
| Application Denied By Financial Institution | 47 | $5,917,000 | $125,000 | $625,000 | $50,000 | $300,000 |
| Application Withdrawn By Applicant | 25 | $3,109,000 | $124,000 | $386,000 | $49,000 | $319,000 |
| Application Approved But Not Accepted | 18 | $2,757,000 | $153,000 | $682,000 | $63,000 | $259,000 |
| File Closed For Incompleteness | 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 | 16 | $2,228,000 | $139,000 | $625,000 | $46,000 | $214,000 |
| Collateral | 13 | $1,587,000 | $122,000 | $256,000 | $69,000 | $300,000 |
| Other | 6 | $682,000 | $113,000 | $167,000 | $34,000 | $53,000 |
| Employment History | 5 | $527,000 | $105,000 | $137,000 | $37,000 | $50,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $451,000 | $150,000 | $172,000 | $56,000 | $77,000 |
| Credit History | 3 | $297,000 | $99,000 | $165,000 | $39,000 | $75,000 |
| Unverifiable Information | 1 | $145,000 | $145,000 | $145,000 | $36,000 | $36,000 |
| 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 Polonia Bank's 2014 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 Polonia Bank'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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