Tam Lending Center Inc. Mortgage Lending & HMDA Data, 2017
In 2017, Tam Lending Center Inc. of Cherry Hill, NJ reported 222 mortgage applications totaling $46.6 million. The average application was for $209,995, and applicants reported an average income of $86,216. 83% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Camden, NJ (76), Wilmington, DE-MD-NJ (29) and Philadelphia, PA (28) (applications in parentheses).
| Mortgage Company & Address | Tam Lending Center Inc. 1814 Rt 70 East, Ste 200 Cherry Hill, NJ 08003 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2017 |
| Total Number of Mortgage Applications | 222 |
| Total Mortgage Loan Application Amount | $46,619,000 |
| Average Mortgage Loan Application Amount | $209,995 |
| Highest Mortgage Loan Application Amount | $2,800,000 |
| Average Applicant Income | $86,216 |
| Highest Applicant Income | $1,041,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Tam Lending Center Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Camden, NJ | 76 | $ 13,230,000 | $ 174,078 | $ 79,000 |
| Wilmington, DE-MD-NJ | 29 | $ 5,522,000 | $ 190,413 | $ 69,965 |
| Philadelphia, PA | 28 | $ 4,346,000 | $ 155,214 | $ 66,000 |
| Newark, NJ-PA | 25 | $ 6,392,000 | $ 255,680 | $ 87,000 |
| Montgomery County-Bucks County-Chester County, PA | 17 | $ 3,379,000 | $ 198,764 | $ 85,000 |
| New York-Jersey City-White Plains, NY-NJ | 16 | $ 8,359,000 | $ 522,437 | $ 207,000 |
| Vineland-Bridgeton, NJ | 11 | $ 1,864,000 | $ 169,454 | $ 73,000 |
| Trenton, NJ | 5 | $ 702,000 | $ 140,400 | $ 66,000 |
| Atlantic City-Hammonton, NJ | 4 | $ 646,000 | $ 161,500 | $ 72,000 |
| Dover, DE | 2 | $ 374,000 | $ 187,000 | $ 62,000 |
| East Stroudsburg, PA | 2 | $ 257,000 | $ 128,500 | $ 91,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 1 | $ 75,000 | $ 75,000 | $ 57,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 1 | $ 214,000 | $ 214,000 | $ 52,000 |
| Ocean City, NJ | 1 | $ 225,000 | $ 225,000 | $ 236,000 |
| Orlando-Kissimmee-Sanford, FL | 1 | $ 366,000 | $ 366,000 | $ 153,000 |
| Salisbury, MD-DE | 1 | $ 202,000 | $ 202,000 | $ 88,000 |
| York-Hanover, PA | 1 | $ 134,000 | $ 134,000 | $ 0 |
Mortgage Loan Application Detail Totals for Tam Lending Center Inc. in 2017
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 | 213 | $40,648,000 | $190,000 | $457,000 | $76,000 | $348,000 |
| Refinancing | 9 | $5,971,000 | $663,000 | $2,800,000 | $328,000 | $1,041,000 |
| 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 | 119 | $27,646,000 | $232,000 | $2,800,000 | $103,000 | $1,041,000 |
| Black or African American | 62 | $11,154,000 | $179,000 | $457,000 | $69,000 | $225,000 |
| Hispanic | 34 | $6,431,000 | $189,000 | $324,000 | $66,000 | $194,000 |
| Asian | 5 | $976,000 | $195,000 | $368,000 | $59,000 | $119,000 |
| Not Provided | 2 | $412,000 | $206,000 | $275,000 | $57,000 | $82,000 |
| 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 142 | $26,193,000 | $184,000 | $457,000 | $69,000 | $212,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 68 | $17,850,000 | $262,000 | $2,800,000 | $125,000 | $1,041,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 7 | $1,471,000 | $210,000 | $296,000 | $81,000 | $113,000 |
| VA-guaranteed (Veterans Administration) | 5 | $1,105,000 | $221,000 | $332,000 | $67,000 | $103,000 |
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 | 184 | $37,855,000 | $205,000 | $2,800,000 | $81,000 | $1,041,000 |
| Application Withdrawn By Applicant | 34 | $8,058,000 | $237,000 | $1,750,000 | $118,000 | $1,041,000 |
| Application Denied By Financial Institution | 4 | $706,000 | $176,000 | $368,000 | $72,000 | $177,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 1 | $368,000 | $368,000 | $368,000 | $177,000 | $177,000 |
| Debt-To-Income Ratio | 1 | $57,000 | $57,000 | $57,000 | $23,000 | $23,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $178,000 | $178,000 | $178,000 | $55,000 | $55,000 |
| Unverifiable Information | 1 | $103,000 | $103,000 | $103,000 | $36,000 | $36,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Tam Lending Center Inc.'s 2017 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 Tam Lending Center Inc.'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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