Sovereign Bank Mortgage Lending & HMDA Data, 2008
In 2008, Sovereign Bank of Wyomissing, PA reported 32,244 mortgage applications totaling $9.6 billion, down 25% from 2007. The average application was for $297,066, and applicants reported an average income of $84,644. 62% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Philadelphia, PA (3,823), Providence-New Bedford-Fall River, RI-MA (2,330) and Boston-Quincy, MA (2,210) (applications in parentheses).
| Mortgage Company & Address | Sovereign Bank 1130 Berkshire Boulevard Wyomissing, PA 19610 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 32,244 |
| Total Mortgage Loan Application Amount | $9,578,597,000 |
| Average Mortgage Loan Application Amount | $297,066 |
| Highest Mortgage Loan Application Amount | $99,999,000 |
| Average Applicant Income | $84,644 |
| Highest Applicant Income | $8,500,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sovereign Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Philadelphia, PA | 3,823 | $ 865,288,000 | $ 226,337 | $ 76,000 |
| Providence-New Bedford-Fall River, RI-MA | 2,330 | $ 434,737,000 | $ 186,582 | $ 79,489 |
| Boston-Quincy, MA | 2,210 | $ 501,702,000 | $ 227,014 | $ 93,000 |
| New York-White Plains-Wayne, NY-NJ | 2,084 | $ 1,597,241,000 | $ 766,430 | $ 89,814 |
| Edison-New Brunswick, NJ | 2,000 | $ 512,452,000 | $ 256,226 | $ 95,000 |
| Cambridge-Newton-Framingham, MA | 1,307 | $ 327,635,000 | $ 250,677 | $ 98,000 |
| Albany-Schenectady-Troy, NY | 1,264 | $ 213,292,000 | $ 168,743 | $ 81,000 |
| Newark-Union, NJ-PA | 1,249 | $ 353,452,000 | $ 282,987 | $ 93,100 |
| Reading, PA | 1,015 | $ 158,721,000 | $ 156,375 | $ 65,000 |
| Hartford-West Hartford-East Hartford, CT | 944 | $ 171,293,000 | $ 181,454 | $ 82,000 |
| Peabody, MA | 860 | $ 171,004,000 | $ 198,841 | $ 83,000 |
| Worcester, MA | 764 | $ 148,536,000 | $ 194,418 | $ 82,000 |
| Lancaster, PA | 609 | $ 81,349,000 | $ 133,577 | $ 69,000 |
| Harrisburg-Carlisle, PA | 595 | $ 108,226,000 | $ 181,892 | $ 74,000 |
| Barnstable Town, MA | 519 | $ 125,652,000 | $ 242,104 | $ 112,000 |
| York-Hanover, PA | 487 | $ 68,272,000 | $ 140,188 | $ 69,000 |
| Camden, NJ | 465 | $ 115,907,000 | $ 249,262 | $ 88,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 402 | $ 107,800,000 | $ 268,159 | $ 67,567 |
| Buffalo-Niagara Falls, NY | 346 | $ 46,078,000 | $ 133,173 | $ 75,000 |
| Springfield, MA | 326 | $ 46,868,000 | $ 143,766 | $ 67,000 |
| New Haven-Milford, CT | 322 | $ 63,483,000 | $ 197,152 | $ 81,000 |
| Rockingham County-Strafford County, NH | 316 | $ 65,261,000 | $ 206,522 | $ 88,000 |
| Nassau-Suffolk, NY | 310 | $ 103,653,000 | $ 334,364 | $ 117,000 |
| Williamsport, PA | 284 | $ 29,274,000 | $ 103,077 | $ 60,000 |
| Chicago-Naperville-Joliet, IL | 260 | $ 265,453,000 | $ 1,020,973 | $ 38,000 |
| Manchester-Nashua, NH | 238 | $ 43,061,000 | $ 180,928 | $ 83,000 |
| Trenton-Ewing, NJ | 234 | $ 50,776,000 | $ 216,991 | $ 87,000 |
| Glens Falls, NY | 230 | $ 36,671,000 | $ 159,439 | $ 87,000 |
| Pittsburgh, PA | 229 | $ 61,178,000 | $ 267,152 | $ 65,000 |
| Los Angeles-Long Beach-Glendale, CA | 220 | $ 607,821,000 | $ 2,762,822 | $ 1,000 |
| Lebanon, PA | 202 | $ 26,408,000 | $ 130,732 | $ 65,000 |
| Burlington-South Burlington, VT | 194 | $ 41,965,000 | $ 216,314 | $ 90,000 |
| Wilmington, DE-MD-NJ | 193 | $ 42,260,000 | $ 218,963 | $ 74,984 |
| Baltimore-Towson, MD | 192 | $ 106,437,000 | $ 554,359 | $ 78,000 |
| Rochester, NY | 180 | $ 23,726,000 | $ 131,811 | $ 92,000 |
| Scranton--Wilkes-Barre, PA | 169 | $ 20,396,000 | $ 120,686 | $ 64,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 150 | $ 209,113,000 | $ 1,394,086 | $ 105,400 |
| Bridgeport-Stamford-Norwalk, CT | 131 | $ 41,526,000 | $ 316,992 | $ 113,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 126 | $ 29,570,000 | $ 234,682 | $ 98,000 |
| Ocean City, NJ | 112 | $ 32,064,000 | $ 286,285 | $ 145,000 |
| Evansville, IN-KY | 103 | $ 14,703,000 | $ 142,747 | $ 82,000 |
| Atlantic City-Hammonton, NJ | 97 | $ 53,442,000 | $ 550,948 | $ 96,000 |
| Portland-South Portland-Biddeford, ME | 97 | $ 45,953,000 | $ 473,742 | $ 75,000 |
| Cleveland-Elyria-Mentor, OH | 85 | $ 11,736,000 | $ 138,070 | $ 78,000 |
| Hagerstown-Martinsburg, MD-WV | 76 | $ 15,784,000 | $ 207,684 | $ 67,368 |
| Bethesda-Frederick-Gaithersburg, MD | 71 | $ 88,093,000 | $ 1,240,746 | $ 107,000 |
| Norwich-New London, CT | 63 | $ 12,682,000 | $ 201,301 | $ 87,000 |
| Kingston, NY | 57 | $ 11,334,000 | $ 198,842 | $ 87,000 |
| Utica-Rome, NY | 57 | $ 6,675,000 | $ 117,105 | $ 79,000 |
| Syracuse, NY | 55 | $ 6,066,000 | $ 110,290 | $ 77,000 |
| State College, PA | 47 | $ 6,448,000 | $ 137,191 | $ 99,000 |
| Fort Wayne, IN | 40 | $ 4,039,000 | $ 100,975 | $ 51,000 |
| Binghamton, NY | 36 | $ 3,891,000 | $ 108,083 | $ 56,000 |
| St. Louis, MO-IL | 36 | $ 6,797,000 | $ 188,805 | $ 99,111 |
| Pittsfield, MA | 32 | $ 6,681,000 | $ 208,781 | $ 136,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 30 | $ 27,193,000 | $ 906,433 | $ 143,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 28 | $ 22,550,000 | $ 805,357 | $ 208,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 26 | $ 9,596,000 | $ 369,076 | $ 94,000 |
| Miami-Miami Beach-Kendall, FL | 24 | $ 21,430,000 | $ 892,916 | $ 316,000 |
| Denver-Aurora, CO | 23 | $ 30,282,000 | $ 1,316,608 | $ 109,000 |
| Huntsville, AL | 23 | $ 4,736,000 | $ 205,913 | $ 119,000 |
| Tampa-St. Petersburg-Clearwater, FL | 23 | $ 26,767,000 | $ 1,163,782 | $ 69,000 |
| Akron, OH | 21 | $ 2,018,000 | $ 96,095 | $ 69,000 |
| Charlotte-Gastonia-Concord, NC-SC | 21 | $ 22,424,000 | $ 1,067,809 | $ 75,000 |
| Naples-Marco Island, FL | 20 | $ 24,301,000 | $ 1,215,050 | $ 194,000 |
| Orlando-Kissimmee, FL | 19 | $ 10,706,000 | $ 563,473 | $ 73,000 |
| Cape Coral-Fort Myers, FL | 18 | $ 4,345,000 | $ 241,388 | $ 162,000 |
| Columbus, OH | 17 | $ 31,365,000 | $ 1,845,000 | $ 37,000 |
| Gary, IN | 17 | $ 23,946,000 | $ 1,408,588 | $ 60,000 |
| Vineland-Millville-Bridgeton, NJ | 17 | $ 2,254,000 | $ 132,588 | $ 53,000 |
| Canton-Massillon, OH | 16 | $ 1,552,000 | $ 97,000 | $ 41,000 |
| Dover, DE | 16 | $ 3,542,000 | $ 221,375 | $ 63,000 |
| Richmond, VA | 16 | $ 3,335,000 | $ 208,437 | $ 71,000 |
| Kansas City, MO-KS | 15 | $ 5,162,000 | $ 344,133 | $ 75,733 |
| Toledo, OH | 14 | $ 2,476,000 | $ 176,857 | $ 94,000 |
| Atlanta-Sandy Springs-Marietta, GA | 13 | $ 21,657,000 | $ 1,665,923 | $ 72,000 |
| Bradenton-Sarasota-Venice, FL | 13 | $ 2,552,000 | $ 196,307 | $ 89,000 |
| Lynchburg, VA | 13 | $ 2,071,000 | $ 159,307 | $ 56,000 |
| Myrtle Beach-North Myrtle Beach-Conway, SC | 13 | $ 2,063,000 | $ 158,692 | $ 91,000 |
| Phoenix-Mesa-Scottsdale, AZ | 13 | $ 26,318,000 | $ 2,024,461 | $ 69,000 |
| Charleston-North Charleston-Summerville, SC | 12 | $ 7,803,000 | $ 650,250 | $ 112,000 |
| Jacksonville, FL | 12 | $ 21,834,000 | $ 1,819,500 | $ 744,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 11 | $ 6,377,000 | $ 579,727 | $ 75,000 |
| Punta Gorda, FL | 11 | $ 2,282,000 | $ 207,454 | $ 125,000 |
| Bangor, ME | 10 | $ 1,402,000 | $ 140,200 | $ 55,000 |
| Muncie, IN | 10 | $ 858,000 | $ 85,800 | $ 44,000 |
| Cincinnati-Middletown, OH-KY-IN | 9 | $ 6,083,000 | $ 675,888 | $ 65,000 |
| Lewiston-Auburn, ME | 9 | $ 1,355,000 | $ 150,555 | $ 59,000 |
| Palm Bay-Melbourne-Titusville, FL | 8 | $ 4,373,000 | $ 546,625 | $ 63,000 |
| Santa Ana-Anaheim-Irvine, CA | 8 | $ 29,227,000 | $ 3,653,375 | $ 36,000 |
| Indianapolis-Carmel, IN | 7 | $ 1,173,000 | $ 167,571 | $ 80,000 |
| Lakeland-Winter Haven, FL | 7 | $ 5,460,000 | $ 780,000 | $ 84,000 |
| Port St. Lucie, FL | 7 | $ 1,359,000 | $ 194,142 | $ 140,000 |
| Raleigh-Cary, NC | 7 | $ 7,351,000 | $ 1,050,142 | $ 33,000 |
| Roanoke, VA | 7 | $ 1,508,000 | $ 215,428 | $ 49,000 |
| Weirton-Steubenville, WV-OH | 7 | $ 503,000 | $ 71,857 | $ 39,142 |
| Lake County-Kenosha County, IL-WI | 6 | $ 5,214,000 | $ 869,000 | $ 48,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 6 | $ 54,213,000 | $ 9,035,500 | $ 69,000 |
| Youngstown-Warren-Boardman, OH-PA | 6 | $ 464,000 | $ 77,333 | $ 37,000 |
| Birmingham-Hoover, AL | 5 | $ 862,000 | $ 172,400 | $ 106,000 |
| Erie, PA | 5 | $ 527,000 | $ 105,400 | $ 75,000 |
| Mobile, AL | 5 | $ 669,000 | $ 133,800 | $ 46,000 |
| Montgomery, AL | 5 | $ 5,791,000 | $ 1,158,200 | $ 127,000 |
| Riverside-San Bernardino-Ontario, CA | 5 | $ 18,785,000 | $ 3,757,000 | $ 41,000 |
| San Diego-Carlsbad-San Marcos, CA | 5 | $ 6,816,000 | $ 1,363,200 | $ 35,000 |
| Warren-Troy-Farmington Hills, MI | 5 | $ 498,000 | $ 99,600 | $ 50,000 |
| Dayton, OH | 4 | $ 2,462,000 | $ 615,500 | $ 49,000 |
| Greensboro-High Point, NC | 4 | $ 662,000 | $ 165,500 | $ 121,000 |
| Knoxville, TN | 4 | $ 20,200,000 | $ 5,050,000 | $ 31,000 |
| Lafayette, IN | 4 | $ 501,000 | $ 125,250 | $ 41,000 |
| Las Vegas-Paradise, NV | 4 | $ 945,000 | $ 236,250 | $ 83,000 |
| Portland-Vancouver-Beaverton, OR-WA | 4 | $ 13,141,000 | $ 3,285,250 | $ 0 |
| South Bend-Mishawaka, IN-MI | 4 | $ 573,000 | $ 143,250 | $ 71,000 |
| Wheeling, WV-OH | 4 | $ 640,000 | $ 160,000 | $ 81,750 |
| Altoona, PA | 3 | $ 112,000 | $ 37,333 | $ 42,000 |
| Chattanooga, TN-GA | 3 | $ 811,000 | $ 270,333 | $ 125,000 |
| Columbia, SC | 3 | $ 11,161,000 | $ 3,720,333 | $ 71,000 |
| Dallas-Plano-Irving, TX | 3 | $ 36,240,000 | $ 12,080,000 | $ 49,000 |
| Greenville-Mauldin-Easley, SC | 3 | $ 6,526,000 | $ 2,175,333 | $ 58,000 |
| Hickory-Lenoir-Morganton, NC | 3 | $ 758,000 | $ 252,666 | $ 119,000 |
| Houston-Sugar Land-Baytown, TX | 3 | $ 10,932,000 | $ 3,644,000 | $ 53,000 |
| Ithaca, NY | 3 | $ 1,864,000 | $ 621,333 | $ 52,000 |
| Louisville-Jefferson County, KY-IN | 3 | $ 7,710,000 | $ 2,570,000 | $ 0 |
| Memphis, TN-MS-AR | 3 | $ 602,000 | $ 200,666 | $ 101,000 |
| Sandusky, OH | 3 | $ 149,000 | $ 49,666 | $ 84,000 |
| Seattle-Bellevue-Everett, WA | 3 | $ 7,895,000 | $ 2,631,666 | $ 11,000 |
| Asheville, NC | 2 | $ 583,000 | $ 291,500 | $ 147,000 |
| Blacksburg-Christiansburg-Radford, VA | 2 | $ 165,000 | $ 82,500 | $ 16,000 |
| Charlottesville, VA | 2 | $ 697,000 | $ 348,500 | $ 79,000 |
| Cleveland, TN | 2 | $ 282,000 | $ 141,000 | $ 65,000 |
| Colorado Springs, CO | 2 | $ 293,000 | $ 146,500 | $ 44,000 |
| Cumberland, MD-WV | 2 | $ 141,000 | $ 70,500 | $ 47,000 |
| Detroit-Livonia-Dearborn, MI | 2 | $ 326,000 | $ 163,000 | $ 120,000 |
| Durham, NC | 2 | $ 10,750,000 | $ 5,375,000 | $ 0 |
| Elkhart-Goshen, IN | 2 | $ 245,000 | $ 122,500 | $ 48,000 |
| Elmira, NY | 2 | $ 134,000 | $ 67,000 | $ 54,000 |
| Johnstown, PA | 2 | $ 2,066,000 | $ 1,033,000 | $ 67,000 |
| Kankakee-Bradley, IL | 2 | $ 1,661,000 | $ 830,500 | $ 34,000 |
| Kingsport-Bristol-Bristol, TN-VA | 2 | $ 144,000 | $ 72,000 | $ 46,000 |
| Oakland-Fremont-Hayward, CA | 2 | $ 514,000 | $ 257,000 | $ 88,000 |
| Ocala, FL | 2 | $ 1,424,000 | $ 712,000 | $ 29,000 |
| Palm Coast, FL | 2 | $ 245,000 | $ 122,500 | $ 58,000 |
| Pensacola-Ferry Pass-Brent, FL | 2 | $ 10,600,000 | $ 5,300,000 | $ 0 |
| Prescott, AZ | 2 | $ 1,410,000 | $ 705,000 | $ 409,000 |
| Savannah, GA | 2 | $ 186,000 | $ 93,000 | $ 99,000 |
| Sebastian-Vero Beach, FL | 2 | $ 630,000 | $ 315,000 | $ 283,000 |
| Stockton, CA | 2 | $ 323,000 | $ 161,500 | $ 75,000 |
| Tulsa, OK | 2 | $ 5,300,000 | $ 2,650,000 | $ 0 |
| Wilmington, NC | 2 | $ 428,000 | $ 214,000 | $ 27,000 |
| Albuquerque, NM | 1 | $ 346,000 | $ 346,000 | $ 90,000 |
| Anderson, IN | 1 | $ 157,000 | $ 157,000 | $ 101,000 |
| Athens-Clarke County, GA | 1 | $ 325,000 | $ 325,000 | $ 188,000 |
| Auburn-Opelika, AL | 1 | $ 129,000 | $ 129,000 | $ 414,000 |
| Augusta-Richmond County, GA-SC | 1 | $ 111,000 | $ 111,000 | $ 111,000 |
| Boulder, CO | 1 | $ 183,000 | $ 183,000 | $ 40,000 |
| Burlington, NC | 1 | $ 100,000 | $ 100,000 | $ 72,000 |
| Champaign-Urbana, IL | 1 | $ 100,000 | $ 100,000 | $ 32,000 |
| Dalton, GA | 1 | $ 163,000 | $ 163,000 | $ 28,000 |
| Danville, IL | 1 | $ 2,600,000 | $ 2,600,000 | $ 0 |
| Danville, VA | 1 | $ 100,000 | $ 100,000 | $ 106,000 |
| Eau Claire, WI | 1 | $ 7,280,000 | $ 7,280,000 | $ 0 |
| El Centro, CA | 1 | $ 260,000 | $ 260,000 | $ 105,000 |
| Farmington, NM | 1 | $ 20,000 | $ 20,000 | $ 63,000 |
| Fayetteville, NC | 1 | $ 70,000 | $ 70,000 | $ 39,000 |
| Florence-Muscle Shoals, AL | 1 | $ 260,000 | $ 260,000 | $ 66,000 |
| Fort Walton Beach-Crestview-Destin, FL | 1 | $ 180,000 | $ 180,000 | $ 42,000 |
| Grand Junction, CO | 1 | $ 194,000 | $ 194,000 | $ 45,000 |
| Green Bay, WI | 1 | $ 138,000 | $ 138,000 | $ 49,000 |
| Harrisonburg, VA | 1 | $ 230,000 | $ 230,000 | $ 75,000 |
| Huntington-Ashland, WV-KY-OH | 1 | $ 93,000 | $ 93,000 | $ 41,000 |
| Jackson, MS | 1 | $ 269,000 | $ 269,000 | $ 85,000 |
| Kokomo, IN | 1 | $ 2,300,000 | $ 2,300,000 | $ 0 |
| Michigan City-La Porte, IN | 1 | $ 3,889,000 | $ 3,889,000 | $ 0 |
| Milwaukee-Waukesha-West Allis, WI | 1 | $ 3,150,000 | $ 3,150,000 | $ 0 |
| Morristown, TN | 1 | $ 372,000 | $ 372,000 | $ 109,000 |
| Muskegon-Norton Shores, MI | 1 | $ 2,700,000 | $ 2,700,000 | $ 0 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 10,000,000 | $ 10,000,000 | $ 0 |
| Pascagoula, MS | 1 | $ 52,000 | $ 52,000 | $ 39,000 |
| Peoria, IL | 1 | $ 80,000 | $ 80,000 | $ 0 |
| Rochester, MN | 1 | $ 3,600,000 | $ 3,600,000 | $ 0 |
| Sacramento--Arden-Arcade--Roseville, CA | 1 | $ 130,000 | $ 130,000 | $ 90,000 |
| Salisbury, MD | 1 | $ 144,000 | $ 144,000 | $ 87,000 |
| San Antonio, TX | 1 | $ 295,000 | $ 295,000 | $ 233,000 |
| San Francisco-San Mateo-Redwood City, CA | 1 | $ 1,900,000 | $ 1,900,000 | $ 0 |
| Springfield, OH | 1 | $ 167,000 | $ 167,000 | $ 114,000 |
| Tallahassee, FL | 1 | $ 6,000,000 | $ 6,000,000 | $ 0 |
| Tuscaloosa, AL | 1 | $ 10,800,000 | $ 10,800,000 | $ 0 |
| Wausau, WI | 1 | $ 3,280,000 | $ 3,280,000 | $ 0 |
Mortgage Loan Application Detail Totals for Sovereign Bank in 2008
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 | 16,543 | $5,926,826,000 | $358,000 | $62,000,000 | $86,000 | $8,500,000 |
| Home Purchase | 12,624 | $3,406,355,000 | $269,000 | $99,999,000 | $84,000 | $3,586,000 |
| Home Improvement | 3,077 | $245,416,000 | $79,000 | $2,920,000 | $80,000 | $4,323,000 |
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 | 22,934 | $4,610,375,000 | $201,000 | $14,329,000 | $92,000 | $8,500,000 |
| Not Provided | 2,525 | $495,326,000 | $196,000 | $4,508,000 | $95,000 | $2,977,000 |
| Hispanic | 2,234 | $373,938,000 | $167,000 | $4,030,000 | $65,000 | $850,000 |
| Black or African American | 2,211 | $339,494,000 | $153,000 | $3,900,000 | $63,000 | $1,081,000 |
| Asian | 1,104 | $227,586,000 | $206,000 | $1,965,000 | $86,000 | $1,164,000 |
| Not applicable | 1,077 | $3,502,641,000 | $3,252,000 | $99,999,000 | $0 | $366,000 |
| Native Hawaiian or Other Pacific Islander | 92 | $17,628,000 | $191,000 | $1,600,000 | $65,000 | $228,000 |
| American Indian or Alaskan Native | 67 | $11,609,000 | $173,000 | $500,000 | $83,000 | $583,000 |
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) | 29,000 | $9,005,691,000 | $310,000 | $99,999,000 | $87,000 | $8,500,000 |
| FHA-insured (Federal Housing Administration) | 3,156 | $554,803,000 | $175,000 | $730,000 | $61,000 | $720,000 |
| VA-guaranteed (Veterans Administration) | 85 | $16,563,000 | $194,000 | $417,000 | $63,000 | $129,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $1,540,000 | $513,000 | $1,268,000 | $230,000 | $598,000 |
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 | 20,097 | $5,838,817,000 | $290,000 | $32,250,000 | $86,000 | $8,500,000 |
| Application Denied By Financial Institution | 5,558 | $1,380,890,000 | $248,000 | $62,000,000 | $74,000 | $4,320,000 |
| Application Approved But Not Accepted | 3,385 | $1,147,971,000 | $339,000 | $99,999,000 | $91,000 | $1,300,000 |
| Application Withdrawn By Applicant | 2,454 | $1,024,086,000 | $417,000 | $43,000,000 | $98,000 | $3,586,000 |
| Loan Purchased By The Institution | 527 | $100,382,000 | $190,000 | $910,000 | $78,000 | $569,000 |
| Preapproval Denied by Financial Institution | 191 | $29,388,000 | $153,000 | $960,000 | $47,000 | $539,000 |
| File Closed For Incompleteness | 32 | $57,063,000 | $1,783,000 | $16,000,000 | $1,000 | $60,000 |
| Preapproval 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 |
|---|---|---|---|---|---|---|
| Collateral | 1,573 | $468,401,000 | $297,000 | $30,500,000 | $86,000 | $720,000 |
| Credit History | 1,489 | $238,622,000 | $160,000 | $8,200,000 | $64,000 | $4,320,000 |
| Debt-To-Income Ratio | 1,200 | $268,744,000 | $223,000 | $62,000,000 | $59,000 | $1,032,000 |
| Other | 656 | $201,676,000 | $307,000 | $17,500,000 | $86,000 | $798,000 |
| Mortgage Insurance Denied | 355 | $41,124,000 | $115,000 | $495,000 | $81,000 | $364,000 |
| Unverifiable Information | 223 | $53,299,000 | $239,000 | $9,595,000 | $73,000 | $828,000 |
| Credit Application Incomplete | 131 | $100,828,000 | $769,000 | $14,100,000 | $45,000 | $720,000 |
| Employment History | 71 | $11,802,000 | $166,000 | $460,000 | $55,000 | $180,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 51 | $25,782,000 | $505,000 | $12,762,000 | $95,000 | $470,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sovereign Bank's 2008 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 Sovereign 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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