Rumson-Fair Haven B&T Co Mortgage Lending & HMDA Data, 2013
In 2013, Rumson-Fair Haven B&T Co of Rumson, NJ reported 58 mortgage applications totaling $26.2 million, up 76% from 2012. The average application was for $452,482, and applicants reported an average income of $241,206. 60% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Edison-New Brunswick, NJ (50), Camden, NJ (3) and New York-White Plains-Wayne, NY-NJ (3) (applications in parentheses).
| Mortgage Company & Address | Rumson-Fair Haven B&T Co 20 Bingham Avenue Rumson, NJ 07760 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 58 |
| Total Mortgage Loan Application Amount | $26,244,000 |
| Average Mortgage Loan Application Amount | $452,482 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $241,206 |
| Highest Applicant Income | $1,595,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Rumson-Fair Haven B&T Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Rumson-Fair Haven B&T Co in 2013
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 | 42 | $17,281,000 | $411,000 | $2,000,000 | $276,000 | $1,595,000 |
| Refinancing | 14 | $8,396,000 | $599,000 | $1,500,000 | $156,000 | $420,000 |
| Home Improvement | 2 | $567,000 | $283,000 | $417,000 | $107,000 | $147,000 |
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 | 44 | $19,468,000 | $442,000 | $2,000,000 | $243,000 | $1,595,000 |
| Not Provided | 12 | $5,978,000 | $498,000 | $1,500,000 | $255,000 | $1,049,000 |
| Black or African American | 1 | $381,000 | $381,000 | $381,000 | $0 | $0 |
| Hispanic | 1 | $417,000 | $417,000 | $417,000 | $226,000 | $226,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 58 | $26,244,000 | $452,000 | $2,000,000 | $241,000 | $1,595,000 |
| 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 | 35 | $15,775,000 | $450,000 | $2,000,000 | $275,000 | $1,132,000 |
| Application Denied By Financial Institution | 9 | $4,899,000 | $544,000 | $850,000 | $315,000 | $1,595,000 |
| Application Approved But Not Accepted | 5 | $2,795,000 | $559,000 | $1,425,000 | $160,000 | $420,000 |
| Loan Purchased By The Institution | 5 | $1,295,000 | $259,000 | $505,000 | $0 | $0 |
| Application Withdrawn By Applicant | 2 | $678,000 | $339,000 | $528,000 | $177,000 | $286,000 |
| File Closed For Incompleteness | 2 | $802,000 | $401,000 | $417,000 | $185,000 | $226,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| 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 Rumson-Fair Haven B&T Co's 2013 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 Rumson-Fair Haven B&T 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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