Security Atlantic Wholesale Mortgage Lending & HMDA Data, 2006
In 2006, Security Atlantic Wholesale of Edison, NJ reported 3,823 mortgage applications totaling $825.3 million, up 165% from 2005. The average application was for $215,887, and applicants reported an average income of $87,508. 31% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Newark-Union, NJ-PA (1,146), Edison, NJ (599) and New York-White Plains-Wayne, NY-NJ (504) (applications in parentheses).
| Mortgage Company & Address | Security Atlantic Wholesale 499 Thornall St, Suite 220 Edison, NJ 08837 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 3,823 |
| Total Mortgage Loan Application Amount | $825,338,000 |
| Average Mortgage Loan Application Amount | $215,887 |
| Highest Mortgage Loan Application Amount | $1,950,000 |
| Average Applicant Income | $87,508 |
| Highest Applicant Income | $1,200,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Security Atlantic Wholesale filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Newark-Union, NJ-PA | 1,146 | $ 266,736,000 | $ 232,753 | $ 90,947 |
| Edison, NJ | 599 | $ 147,740,000 | $ 246,644 | $ 97,000 |
| New York-White Plains-Wayne, NY-NJ | 504 | $ 142,671,000 | $ 283,077 | $ 105,545 |
| Camden, NJ | 281 | $ 45,684,000 | $ 162,576 | $ 77,000 |
| Philadelphia, PA | 211 | $ 29,753,000 | $ 141,009 | $ 67,000 |
| Trenton-Ewing, NJ | 101 | $ 15,981,000 | $ 158,227 | $ 75,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 79 | $ 14,577,000 | $ 184,518 | $ 82,658 |
| Atlantic City, NJ | 77 | $ 15,248,000 | $ 198,025 | $ 68,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 50 | $ 9,807,000 | $ 196,140 | $ 64,000 |
| Scranton--Wilkes-Barre, PA | 49 | $ 4,077,000 | $ 83,204 | $ 50,000 |
| Nassau-Suffolk, NY | 46 | $ 14,891,000 | $ 323,717 | $ 133,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 44 | $ 9,859,000 | $ 224,068 | $ 77,000 |
| Tampa-St. Petersburg-Clearwater, FL | 40 | $ 6,935,000 | $ 173,375 | $ 87,000 |
| New Haven-Milford, CT | 35 | $ 5,111,000 | $ 146,028 | $ 88,000 |
| Wilmington, DE-MD-NJ | 34 | $ 5,547,000 | $ 163,147 | $ 58,470 |
| Miami-Miami Beach-Kendall, FL | 33 | $ 5,523,000 | $ 167,363 | $ 72,000 |
| Reading, PA | 29 | $ 3,723,000 | $ 128,379 | $ 84,000 |
| Baltimore-Towson, MD | 28 | $ 6,169,000 | $ 220,321 | $ 87,000 |
| Vineland-Millville-Bridgeton, NJ | 26 | $ 3,906,000 | $ 150,230 | $ 61,000 |
| Orlando-Kissimmee, FL | 22 | $ 3,417,000 | $ 155,318 | $ 65,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 20 | $ 4,550,000 | $ 227,500 | $ 85,000 |
| Bridgeport-Stamford-Norwalk, CT | 19 | $ 4,473,000 | $ 235,421 | $ 99,000 |
| Ocean City, NJ | 19 | $ 5,177,000 | $ 272,473 | $ 117,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 19 | $ 4,634,000 | $ 243,894 | $ 81,000 |
| Cincinnati-Middletown, OH-KY-IN | 18 | $ 3,094,000 | $ 171,888 | $ 67,666 |
| Jacksonville, FL | 18 | $ 2,341,000 | $ 130,055 | $ 49,000 |
| Port St. Lucie-Fort Pierce, FL | 14 | $ 2,595,000 | $ 185,357 | $ 46,000 |
| Atlanta-Sandy Springs-Marietta, GA | 13 | $ 2,228,000 | $ 171,384 | $ 56,000 |
| Augusta-Richmond County, GA-SC | 13 | $ 1,157,000 | $ 89,000 | $ 39,538 |
| Cape Coral-Fort Myers, FL | 11 | $ 3,403,000 | $ 309,363 | $ 178,000 |
| Hartford-West Hartford-East Hartford, CT | 11 | $ 1,678,000 | $ 152,545 | $ 65,000 |
| Harrisburg-Carlisle, PA | 10 | $ 1,224,000 | $ 122,400 | $ 48,000 |
| Albany-Schenectady-Troy, NY | 7 | $ 934,000 | $ 133,428 | $ 90,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 7 | $ 853,000 | $ 121,857 | $ 42,000 |
| Boston-Quincy, MA | 6 | $ 2,749,000 | $ 458,166 | $ 199,000 |
| Rochester, NY | 6 | $ 532,000 | $ 88,666 | $ 70,000 |
| Pensacola-Ferry Pass-Brent, FL | 5 | $ 498,000 | $ 99,600 | $ 106,000 |
| Pittsburgh, PA | 5 | $ 698,000 | $ 139,600 | $ 75,000 |
| Syracuse, NY | 5 | $ 484,000 | $ 96,800 | $ 32,000 |
| Binghamton, NY | 4 | $ 268,000 | $ 67,000 | $ 51,000 |
| Lakeland, FL | 4 | $ 717,000 | $ 179,250 | $ 99,000 |
| Worcester, MA | 4 | $ 1,883,000 | $ 470,750 | $ 223,000 |
| Bethesda-Gaithersburg-Frederick, MD | 3 | $ 647,000 | $ 215,666 | $ 78,000 |
| Columbus, GA-AL | 3 | $ 253,000 | $ 84,333 | $ 22,000 |
| Norwich-New London, CT | 3 | $ 469,000 | $ 156,333 | $ 48,000 |
| Sarasota-Bradenton-Venice, FL | 3 | $ 617,000 | $ 205,666 | $ 95,000 |
| York-Hanover, PA | 3 | $ 351,000 | $ 117,000 | $ 40,000 |
| Chicago-Naperville-Joliet, IL | 2 | $ 360,000 | $ 180,000 | $ 57,000 |
| Columbus, OH | 2 | $ 242,000 | $ 121,000 | $ 31,000 |
| Cumberland, MD-WV | 2 | $ 234,000 | $ 117,000 | $ 37,000 |
| Dover, DE | 2 | $ 453,000 | $ 226,500 | $ 66,000 |
| Kingston, NY | 2 | $ 556,000 | $ 278,000 | $ 104,000 |
| Lancaster, PA | 2 | $ 201,000 | $ 100,500 | $ 98,000 |
| Salisbury, MD | 2 | $ 298,000 | $ 149,000 | $ 49,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 2 | $ 311,000 | $ 155,500 | $ 40,000 |
| Weirton-Steubenville, WV-OH | 2 | $ 111,000 | $ 55,500 | $ 27,000 |
| Baton Rouge, LA | 1 | $ 161,000 | $ 161,000 | $ 54,000 |
| Buffalo-Niagara Falls, NY | 1 | $ 40,000 | $ 40,000 | $ 109,000 |
| Cambridge-Newton-Framingham, MA | 1 | $ 100,000 | $ 100,000 | $ 23,000 |
| Cleveland-Elyria-Mentor, OH | 1 | $ 100,000 | $ 100,000 | $ 55,000 |
| Erie, PA | 1 | $ 174,000 | $ 174,000 | $ 96,000 |
| Essex County, MA | 1 | $ 237,000 | $ 237,000 | $ 60,000 |
| Fort Worth-Arlington, TX | 1 | $ 164,000 | $ 164,000 | $ 50,000 |
| Gary, IN | 1 | $ 162,000 | $ 162,000 | $ 91,000 |
| Greenville, SC | 1 | $ 122,000 | $ 122,000 | $ 98,000 |
| Hagerstown-Martinsburg, MD-WV | 1 | $ 274,000 | $ 274,000 | $ 86,000 |
| Lake County-Kenosha County, IL-WI | 1 | $ 118,000 | $ 118,000 | $ 39,000 |
| Lebanon, PA | 1 | $ 59,000 | $ 59,000 | $ 45,000 |
| Lexington-Fayette, KY | 1 | $ 117,000 | $ 117,000 | $ 49,000 |
| Louisville-Jefferson County, KY-IN | 1 | $ 119,000 | $ 119,000 | $ 26,000 |
| Lubbock, TX | 1 | $ 118,000 | $ 118,000 | $ 50,000 |
| Macon, GA | 1 | $ 125,000 | $ 125,000 | $ 49,000 |
| Ocala, FL | 1 | $ 71,000 | $ 71,000 | $ 0 |
| Palm Bay-Melbourne-Titusville, FL | 1 | $ 152,000 | $ 152,000 | $ 57,000 |
| Providence-New Bedford-Fall River, RI-MA | 1 | $ 194,000 | $ 194,000 | $ 106,000 |
| Richmond, VA | 1 | $ 116,000 | $ 116,000 | $ 36,000 |
| Savannah, GA | 1 | $ 90,000 | $ 90,000 | $ 31,000 |
| Springfield, MA | 1 | $ 94,000 | $ 94,000 | $ 48,000 |
| State College, PA | 1 | $ 141,000 | $ 141,000 | $ 49,000 |
Mortgage Loan Application Detail Totals for Security Atlantic Wholesale in 2006
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 | 1,944 | $386,437,000 | $198,000 | $1,740,000 | $88,000 | $1,200,000 |
| Refinancing | 1,879 | $438,901,000 | $233,000 | $1,950,000 | $87,000 | $1,200,000 |
| 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 | 1,519 | $343,067,000 | $225,000 | $1,775,000 | $94,000 | $1,200,000 |
| Black or African American | 1,105 | $208,459,000 | $188,000 | $1,600,000 | $77,000 | $600,000 |
| Hispanic | 929 | $210,639,000 | $226,000 | $1,950,000 | $87,000 | $1,200,000 |
| Not Provided | 210 | $47,506,000 | $226,000 | $1,134,000 | $87,000 | $496,000 |
| Asian | 41 | $11,693,000 | $285,000 | $524,000 | $131,000 | $1,200,000 |
| American Indian or Alaskan Native | 10 | $1,957,000 | $195,000 | $600,000 | $104,000 | $256,000 |
| Native Hawaiian or Other Pacific Islander | 9 | $2,017,000 | $224,000 | $470,000 | $65,000 | $99,000 |
| 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) | 2,362 | $517,235,000 | $218,000 | $1,950,000 | $98,000 | $1,200,000 |
| FHA-insured (Federal Housing Administration) | 1,461 | $308,103,000 | $210,000 | $701,000 | $69,000 | $240,000 |
| 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 Withdrawn By Applicant | 1,978 | $432,343,000 | $218,000 | $1,750,000 | $89,000 | $1,200,000 |
| Loan Originated | 1,186 | $240,623,000 | $202,000 | $875,000 | $82,000 | $736,000 |
| Application Approved But Not Accepted | 539 | $121,411,000 | $225,000 | $1,600,000 | $91,000 | $600,000 |
| Application Denied By Financial Institution | 117 | $30,589,000 | $261,000 | $1,950,000 | $85,000 | $420,000 |
| File Closed For Incompleteness | 3 | $372,000 | $124,000 | $183,000 | $23,000 | $46,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 8 | $1,506,000 | $188,000 | $420,000 | $99,000 | $228,000 |
| Collateral | 7 | $955,000 | $136,000 | $293,000 | $75,000 | $117,000 |
| Credit History | 5 | $660,000 | $132,000 | $217,000 | $49,000 | $78,000 |
| Debt-To-Income Ratio | 4 | $471,000 | $117,000 | $190,000 | $53,000 | $94,000 |
| Unverifiable Information | 1 | $480,000 | $480,000 | $480,000 | $147,000 | $147,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Security Atlantic Wholesale's 2006 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 Atlantic Wholesale'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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