The Washington Savings Bank Mortgage Lending & HMDA Data, 2005
In 2005, The Washington Savings Bank of Bowie, MD reported 2,146 mortgage applications totaling $502.5 million, down 9% from 2004. The average application was for $234,135, and applicants reported an average income of $90,549. 67% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Harrisburg-Carlisle, PA (343), Baltimore-Towson, MD (244) and Bethesda-Frederick-Gaithersburg, MD (222) (applications in parentheses).
| Mortgage Company & Address | The Washington Savings Bank 4201 Mitchellville Rd Suite 300 Bowie, MD 20716 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 | 2,146 |
| Total Mortgage Loan Application Amount | $502,455,000 |
| Average Mortgage Loan Application Amount | $234,135 |
| Highest Mortgage Loan Application Amount | $2,550,000 |
| Average Applicant Income | $90,549 |
| Highest Applicant Income | $2,457,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Washington Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Harrisburg-Carlisle, PA | 343 | $ 42,096,000 | $ 122,728 | $ 71,000 |
| Baltimore-Towson, MD | 244 | $ 57,039,000 | $ 233,766 | $ 84,000 |
| Bethesda-Frederick-Gaithersburg, MD | 222 | $ 89,258,000 | $ 402,063 | $ 124,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 137 | $ 44,013,000 | $ 321,262 | $ 114,000 |
| Richmond, VA | 54 | $ 12,254,000 | $ 226,925 | $ 93,000 |
| York-Hanover, PA | 47 | $ 6,717,000 | $ 142,914 | $ 80,000 |
| Lebanon, PA | 12 | $ 1,383,000 | $ 115,250 | $ 71,000 |
| Hagerstown-Martinsburg, MD-WV | 7 | $ 722,000 | $ 103,142 | $ 101,000 |
| Lancaster, PA | 6 | $ 934,000 | $ 155,666 | $ 89,000 |
| Philadelphia, PA | 5 | $ 488,000 | $ 97,600 | $ 64,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 5 | $ 635,000 | $ 127,000 | $ 97,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 4 | $ 804,000 | $ 201,000 | $ 104,000 |
| New York-Wayne-White Plains, NY-NJ | 4 | $ 866,000 | $ 216,500 | $ 112,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 4 | $ 1,969,000 | $ 492,250 | $ 602,000 |
| Blacksburg-Christiansburg-Radford, VA | 3 | $ 267,000 | $ 89,000 | $ 100,000 |
| Cleveland-Elyria-Mentor, OH | 3 | $ 463,000 | $ 154,333 | $ 85,000 |
| San Diego-Carlsbad-San Marcos, CA | 3 | $ 1,934,000 | $ 644,666 | $ 116,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 2 | $ 214,000 | $ 107,000 | $ 77,000 |
| Cape Coral-Fort Myers, FL | 2 | $ 313,000 | $ 156,500 | $ 149,000 |
| Charleston, WV | 2 | $ 86,000 | $ 43,000 | $ 55,000 |
| Cincinnati-Middletown, OH-KY-IN | 2 | $ 299,000 | $ 149,500 | $ 70,000 |
| Columbia, SC | 2 | $ 305,000 | $ 152,500 | $ 106,000 |
| Jacksonville, FL | 2 | $ 272,000 | $ 136,000 | $ 87,000 |
| Jacksonville, NC | 2 | $ 269,000 | $ 134,500 | $ 96,000 |
| Las Vegas-Paradise, NV | 2 | $ 625,000 | $ 312,500 | $ 56,000 |
| Lynchburg, VA | 2 | $ 447,000 | $ 223,500 | $ 76,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC | 2 | $ 499,000 | $ 249,500 | $ 131,000 |
| Norwich-New London, CT | 2 | $ 610,000 | $ 305,000 | $ 169,000 |
| Orlando, FL | 2 | $ 267,000 | $ 133,500 | $ 134,000 |
| Salisbury, MD | 2 | $ 355,000 | $ 177,500 | $ 69,000 |
| Sarasota-Bradenton-Venice, FL | 2 | $ 531,000 | $ 265,500 | $ 58,000 |
| Tampa-St. Petersburg-Clearwater, FL | 2 | $ 284,000 | $ 142,000 | $ 137,000 |
| Winchester, VA-WV | 2 | $ 340,000 | $ 170,000 | $ 80,000 |
| Charleston-North Charleston, SC | 1 | $ 125,000 | $ 125,000 | $ 0 |
| Charlottesville, VA | 1 | $ 154,000 | $ 154,000 | $ 128,000 |
| Chicago-Naperville-Joliet, IL | 1 | $ 155,000 | $ 155,000 | $ 56,000 |
| Cumberland, MD-WV | 1 | $ 104,000 | $ 104,000 | $ 314,000 |
| Dallas-Plano-Irving, TX | 1 | $ 476,000 | $ 476,000 | $ 179,000 |
| Durham, NC | 1 | $ 170,000 | $ 170,000 | $ 68,000 |
| Greensboro-High Point, NC | 1 | $ 129,000 | $ 129,000 | $ 0 |
| Los Angeles-Long Beach-Glendale, CA | 1 | $ 770,000 | $ 770,000 | $ 369,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 925,000 | $ 925,000 | $ 250,000 |
| Portland-South Portland-Biddeford, ME | 1 | $ 240,000 | $ 240,000 | $ 114,000 |
| Punta Gorda, FL | 1 | $ 47,000 | $ 47,000 | $ 100,000 |
| Roanoke, VA | 1 | $ 188,000 | $ 188,000 | $ 73,000 |
| Rockingham County-Strafford County, NH | 1 | $ 380,000 | $ 380,000 | $ 0 |
| State College, PA | 1 | $ 216,000 | $ 216,000 | $ 83,000 |
| Tucson, AZ | 1 | $ 462,000 | $ 462,000 | $ 2,373,000 |
| Vineland-Millville-Bridgeton, NJ | 1 | $ 117,000 | $ 117,000 | $ 29,000 |
Mortgage Loan Application Detail Totals for The Washington Savings Bank in 2005
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 | 1,393 | $295,501,000 | $287,473 | $1,267,000 | $256,473 | $2,457,000 |
| Refinancing | 684 | $190,286,000 | $273,437 | $2,550,000 | $108,937 | $1,500,000 |
| Home Improvement | 69 | $16,668,000 | $176,200 | $1,200,000 | $91,400 | $292,000 |
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 | 1,414 | $335,822,000 | $282,181 | $2,550,000 | $227,409 | $2,457,000 |
| Black or African American | 489 | $106,810,000 | $206,250 | $1,267,000 | $98,750 | $508,000 |
| Hispanic | 98 | $21,974,000 | $223,000 | $650,000 | $96,857 | $328,000 |
| Not Provided | 66 | $16,112,000 | $364,875 | $1,000,000 | $179,000 | $600,000 |
| Asian | 56 | $14,588,000 | $327,833 | $1,200,000 | $86,333 | $292,000 |
| Not applicable | 20 | $6,692,000 | $417,333 | $1,120,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 2 | $436,000 | $218,000 | $234,000 | $95,000 | $97,000 |
| American Indian or Alaskan Native | 1 | $21,000 | $21,000 | $21,000 | $96,000 | $96,000 |
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) | 1,981 | $470,165,000 | $286,333 | $2,550,000 | $233,250 | $2,457,000 |
| FHA-insured (Federal Housing Administration) | 104 | $18,971,000 | $184,333 | $425,000 | $57,333 | $384,000 |
| VA-guaranteed (Veterans Administration) | 61 | $13,319,000 | $230,250 | $368,000 | $62,500 | $137,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 1,439 | $326,107,000 | $296,380 | $2,550,000 | $258,523 | $2,457,000 |
| Application Withdrawn By Applicant | 350 | $81,280,000 | $288,818 | $1,160,000 | $131,272 | $747,000 |
| Preapproval Approved but not Accepted | 100 | $27,106,000 | $271,000 | $1,121,000 | $73,000 | $384,000 |
| Application Denied By Financial Institution | 83 | $29,102,000 | $341,250 | $1,415,000 | $108,000 | $996,000 |
| Preapproval Denied by Financial Institution | 73 | $15,936,000 | $218,000 | $800,000 | $49,000 | $192,000 |
| Application Approved But Not Accepted | 67 | $14,855,000 | $224,444 | $650,000 | $82,444 | $327,000 |
| File Closed For Incompleteness | 34 | $8,069,000 | $234,000 | $416,000 | $87,500 | $1,200,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Credit Application Incomplete | 70 | $22,854,000 | $474,000 | $1,267,000 | $125,400 | $350,000 |
| Other | 28 | $10,137,000 | $327,166 | $1,415,000 | $99,500 | $355,000 |
| Credit History | 26 | $4,714,000 | $256,800 | $1,120,000 | $61,600 | $216,000 |
| Debt-To-Income Ratio | 14 | $3,034,000 | $202,000 | $634,000 | $43,750 | $114,000 |
| Collateral | 14 | $3,165,000 | $180,250 | $664,000 | $109,250 | $996,000 |
| Employment History | 4 | $1,134,000 | $283,500 | $581,000 | $41,250 | $136,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Washington Savings Bank's 2005 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 The Washington Savings 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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