Saddle River Valley Bank Mortgage Lending & HMDA Data, 2011
In 2011, Saddle River Valley Bank of Saddle River, NJ reported 47 mortgage applications totaling $18.0 million. The average application was for $383,680, and applicants reported an average income of $286,319. 74% of its applications resulted in an originated loan and 13% were denied. Its largest markets were New York-White Plains-Wayne, NY-NJ (38), Newark-Union, NJ-PA (5) and Edison-New Brunswick, NJ (3) (applications in parentheses).
| Mortgage Company & Address | Saddle River Valley Bank 171 East Saddle River Road Saddle River, NJ 07458 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 |
| Total Number of Mortgage Applications | 47 |
| Total Mortgage Loan Application Amount | $18,033,000 |
| Average Mortgage Loan Application Amount | $383,680 |
| Highest Mortgage Loan Application Amount | $1,275,000 |
| Average Applicant Income | $286,319 |
| Highest Applicant Income | $2,794,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Saddle River Valley Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Saddle River Valley Bank in 2011
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 | 35 | $13,510,000 | $386,000 | $1,160,000 | $307,000 | $2,794,000 |
| Home Purchase | 12 | $4,523,000 | $376,000 | $1,275,000 | $226,000 | $1,031,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 38 | $15,645,000 | $411,000 | $1,275,000 | $316,000 | $2,794,000 |
| Not Provided | 3 | $760,000 | $253,000 | $360,000 | $221,000 | $392,000 |
| Not applicable | 2 | $113,000 | $56,000 | $65,000 | $0 | $0 |
| Hispanic | 2 | $190,000 | $95,000 | $115,000 | $223,000 | $407,000 |
| Asian | 1 | $165,000 | $165,000 | $165,000 | $52,000 | $52,000 |
| Black or African American | 1 | $1,160,000 | $1,160,000 | $1,160,000 | $290,000 | $290,000 |
| 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) | 47 | $18,033,000 | $383,000 | $1,275,000 | $286,000 | $2,794,000 |
| 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 | $15,028,000 | $429,000 | $1,275,000 | $341,000 | $2,794,000 |
| Application Denied By Financial Institution | 6 | $2,225,000 | $370,000 | $649,000 | $144,000 | $206,000 |
| Application Withdrawn By Applicant | 4 | $667,000 | $166,000 | $360,000 | $167,000 | $392,000 |
| Loan Purchased By The Institution | 2 | $113,000 | $56,000 | $65,000 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 4 | $1,529,000 | $382,000 | $649,000 | $141,000 | $206,000 |
| Credit History | 2 | $696,000 | $348,000 | $396,000 | $150,000 | $166,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| 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 Saddle River Valley Bank's 2011 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 Saddle River Valley 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.
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