Security First Federal Credit Union Mortgage Lending & HMDA Data, 2018
In 2018, Security First Federal Credit Union of Edinburg, TX reported 1,347 mortgage applications totaling $25.4 million, up 41% from 2017. The average application was for $18,823, and applicants reported an average income of $11,036. 41% of its applications resulted in an originated loan and 53% were denied. Its largest markets were McAllen-Edinburg-Mission, TX (869), Brownsville-Harlingen, TX (404) and Austin-Round Rock, TX (3) (applications in parentheses).
| Mortgage Company & Address | Security First Federal Credit Union 3515 S. Jackson Rd. Edinburg, TX 78539 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,347 |
| Total Mortgage Loan Application Amount | $25,355,000 |
| Average Mortgage Loan Application Amount | $18,823 |
| Highest Mortgage Loan Application Amount | $555,000 |
| Average Applicant Income | $11,036 |
| Highest Applicant Income | $396,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Security First Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| McAllen-Edinburg-Mission, TX | 869 | $ 16,015,000 | $ 18,429 | $ 12,000 |
| Brownsville-Harlingen, TX | 404 | $ 5,530,000 | $ 13,688 | $ 9,000 |
| Outside any metro area | 30 | $ 310,000 | $ 10,333 | $ 5,000 |
| Austin-Round Rock, TX | 3 | $ 45,000 | $ 15,000 | $ 10,000 |
| Houston-The Woodlands-Sugar Land, TX | 2 | $ 10,000 | $ 5,000 | $ 7,000 |
| Amarillo, TX | 1 | $ 5,000 | $ 5,000 | $ 2,000 |
| Dallas-Plano-Irving, TX | 1 | $ 15,000 | $ 15,000 | $ 11,000 |
| Laredo, TX | 1 | $ 15,000 | $ 15,000 | $ 11,000 |
| Los Angeles-Long Beach-Glendale, CA | 1 | $ 15,000 | $ 15,000 | $ 6,000 |
| Odessa, TX | 1 | $ 15,000 | $ 15,000 | $ 16,000 |
| Oklahoma City, OK | 1 | $ 5,000 | $ 5,000 | $ 8,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 15,000 | $ 15,000 | $ 0 |
| Salt Lake City, UT | 1 | $ 5,000 | $ 5,000 | $ 5,000 |
Mortgage Loan Application Detail Totals for Security First Federal Credit Union in 2018
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 Improvement | 1,183 | $10,655,000 | $9,000 | $165,000 | $4,000 | $26,000 |
| Cash-out Refinancing | 57 | $3,835,000 | $67,000 | $285,000 | $66,000 | $396,000 |
| Home Purchase | 47 | $6,235,000 | $132,000 | $345,000 | $74,000 | $317,000 |
| Other Purpose | 40 | $2,960,000 | $74,000 | $555,000 | $44,000 | $139,000 |
| Refinancing | 18 | $1,570,000 | $87,000 | $195,000 | $63,000 | $309,000 |
| Not Applicable | 2 | $100,000 | $50,000 | $95,000 | $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 | 1,271 | $23,375,000 | $18,000 | $555,000 | $12,000 | $396,000 |
| White | 62 | $1,340,000 | $21,000 | $345,000 | $14,000 | $137,000 |
| Black or African American | 5 | $215,000 | $43,000 | $105,000 | $23,000 | $92,000 |
| Not Provided | 5 | $355,000 | $71,000 | $195,000 | $16,000 | $56,000 |
| Asian | 2 | $40,000 | $20,000 | $25,000 | $34,000 | $65,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 1,347 | $25,355,000 | $18,000 | $555,000 | $12,000 | $396,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 711 | $11,885,000 | $16,000 | $555,000 | $8,000 | $317,000 |
| Loan Originated | 547 | $10,155,000 | $18,000 | $335,000 | $16,000 | $396,000 |
| Application Approved But Not Accepted | 45 | $695,000 | $15,000 | $85,000 | $10,000 | $138,000 |
| Application Withdrawn By Applicant | 30 | $2,030,000 | $67,000 | $255,000 | $54,000 | $309,000 |
| File Closed For Incompleteness | 14 | $590,000 | $42,000 | $165,000 | $12,000 | $60,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 636 | $13,470,000 | $21,000 | $335,000 | $17,000 | $396,000 |
| Debt-To-Income Ratio | 427 | $7,385,000 | $17,000 | $555,000 | $7,000 | $139,000 |
| Credit History | 259 | $3,195,000 | $12,000 | $135,000 | $7,000 | $125,000 |
| Collateral | 10 | $430,000 | $43,000 | $95,000 | $7,000 | $32,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $415,000 | $83,000 | $95,000 | $37,000 | $60,000 |
| Credit Application Incomplete | 4 | $70,000 | $17,000 | $25,000 | $33,000 | $98,000 |
| Employment History | 3 | $85,000 | $28,000 | $45,000 | $38,000 | $68,000 |
| Unverifiable Information | 2 | $80,000 | $40,000 | $45,000 | $0 | $0 |
| Other | 1 | $225,000 | $225,000 | $225,000 | $317,000 | $317,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Security First Federal Credit Union's 2018 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 Security First Federal Credit Union'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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