Valor Credit Union Mortgage Lending & HMDA Data, 2014
In 2014, Valor Credit Union of Scranton, PA reported 274 mortgage applications totaling $17.5 million, down 7% from 2013. The average application was for $64,032, and applicants reported an average income of $73,715. 63% of its applications resulted in an originated loan and 23% were denied. Its largest markets were Scranton--Wilkes-Barre--Hazleton, PA (197), East Stroudsburg, PA (43) and Allentown-Bethlehem-Easton, PA-NJ (8) (applications in parentheses).
| Mortgage Company & Address | Valor Credit Union 315 Franklin Ave Scranton, PA 18503 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 |
| Total Number of Mortgage Applications | 274 |
| Total Mortgage Loan Application Amount | $17,545,000 |
| Average Mortgage Loan Application Amount | $64,032 |
| Highest Mortgage Loan Application Amount | $314,000 |
| Average Applicant Income | $73,715 |
| Highest Applicant Income | $223,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Valor Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Scranton--Wilkes-Barre--Hazleton, PA | 197 | $ 11,830,000 | $ 60,050 | $ 75,000 |
| East Stroudsburg, PA | 43 | $ 2,534,000 | $ 58,930 | $ 68,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 8 | $ 786,000 | $ 98,250 | $ 62,000 |
| Newark, NJ-PA | 1 | $ 35,000 | $ 35,000 | $ 34,000 |
| Raleigh, NC | 1 | $ 152,000 | $ 152,000 | $ 60,000 |
| State College, PA | 1 | $ 185,000 | $ 185,000 | $ 72,000 |
| Wilmington, DE-MD-NJ | 1 | $ 95,000 | $ 95,000 | $ 41,000 |
Mortgage Loan Application Detail Totals for Valor Credit Union in 2014
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 | 131 | $6,263,000 | $47,000 | $266,000 | $81,000 | $223,000 |
| Refinancing | 115 | $8,699,000 | $75,000 | $239,000 | $69,000 | $175,000 |
| Home Purchase | 28 | $2,583,000 | $92,000 | $314,000 | $59,000 | $158,000 |
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 | 256 | $16,085,000 | $62,000 | $314,000 | $74,000 | $223,000 |
| Black or African American | 7 | $525,000 | $75,000 | $239,000 | $93,000 | $158,000 |
| Hispanic | 6 | $425,000 | $70,000 | $130,000 | $33,000 | $61,000 |
| Not Provided | 4 | $385,000 | $96,000 | $117,000 | $46,000 | $65,000 |
| Asian | 1 | $125,000 | $125,000 | $125,000 | $72,000 | $72,000 |
| 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) | 274 | $17,545,000 | $64,000 | $314,000 | $73,000 | $223,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 172 | $10,191,000 | $59,000 | $314,000 | $77,000 | $223,000 |
| Application Denied By Financial Institution | 62 | $4,281,000 | $69,000 | $210,000 | $67,000 | $167,000 |
| Application Withdrawn By Applicant | 28 | $1,995,000 | $71,000 | $200,000 | $70,000 | $158,000 |
| Application Approved But Not Accepted | 10 | $706,000 | $70,000 | $148,000 | $70,000 | $194,000 |
| File Closed For Incompleteness | 2 | $372,000 | $186,000 | $266,000 | $71,000 | $97,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 3 | $295,000 | $98,000 | $125,000 | $58,000 | $72,000 |
| Credit History | 2 | $173,000 | $86,000 | $113,000 | $124,000 | $156,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $64,000 | $64,000 | $64,000 | $95,000 | $95,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Valor Credit Union's 2014 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 Valor 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.
For a list of all lenders in Pennsylvania, download the full spreadsheet
with aggregated HMDA statistics today.
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