Tower Federal Credit Union Mortgage Lending & HMDA Data, 2008

In 2008, Tower Federal Credit Union of Laurel, MD reported 2,268 mortgage applications totaling $501.0 million, up 6% from 2007. The average application was for $220,901, and applicants reported an average income of $119,162. 79% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Baltimore-Towson, MD (1,695), Washington-Arlington-Alexandria, DC-VA-MD-WV (188) and Bethesda-Frederick-Gaithersburg, MD (100) (applications in parentheses).

Mortgage Company & Address Tower Federal Credit Union
7901 Sandy Spring Road
Laurel, MD 20707
Tel #: available with data download
Federal Regulator * available with data download
Years 2025  2024  2023  2022  2021  2020  2019  2018  2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 2,268
Total Mortgage Loan Application Amount $501,004,000
Average Mortgage Loan Application Amount $220,901
Highest Mortgage Loan Application Amount $834,000
Average Applicant Income $119,162
Highest Applicant Income $1,470,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Tower Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.

Mortgage Loan Application Totals for Tower Federal Credit Union by County in 2008

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loans Applications Average Mortgage Loan Application Amount Average Applicant Income
Anne Arundel, Maryland 782 $ 170,203,000 $ 217,650 $ 116,000
Howard, Maryland 399 $ 94,680,000 $ 237,293 $ 132,000
Baltimore, Maryland 211 $ 41,630,000 $ 197,298 $ 105,000
Carroll, Maryland 149 $ 31,007,000 $ 208,100 $ 133,000
Prince George's, Maryland 114 $ 25,574,000 $ 224,333 $ 120,000
Baltimore City, Maryland 75 $ 10,613,000 $ 141,506 $ 90,000
Montgomery, Maryland 58 $ 16,868,000 $ 290,827 $ 136,000
Harford, Maryland 44 $ 10,766,000 $ 244,681 $ 131,000
Frederick, Maryland 42 $ 9,458,000 $ 225,190 $ 121,000
Queen Anne's, Maryland 35 $ 9,168,000 $ 261,942 $ 127,000
York, Pennsylvania 35 $ 6,560,000 $ 187,428 $ 103,000
Charles, Maryland 12 $ 4,200,000 $ 350,000 $ 110,000
Fairfax, Virginia 12 $ 3,157,000 $ 263,083 $ 155,000
Calvert, Maryland 11 $ 3,719,000 $ 338,090 $ 142,000
Loudoun, Virginia 11 $ 3,792,000 $ 344,727 $ 130,000
District of Columbia, District Of Columbia 9 $ 3,291,000 $ 365,666 $ 140,000
Arapahoe, Colorado 7 $ 1,216,000 $ 173,714 $ 123,000
Columbia, Georgia 7 $ 594,000 $ 84,857 $ 99,000
Prince William, Virginia 6 $ 1,442,000 $ 240,333 $ 163,000
Wake, North Carolina 5 $ 1,528,000 $ 305,600 $ 114,000
Washington, Maryland 4 $ 1,189,000 $ 297,250 $ 111,000
Allegheny, Pennsylvania 4 $ 601,000 $ 150,250 $ 90,000
Horry, South Carolina 4 $ 400,000 $ 100,000 $ 144,000
Arlington, Virginia 4 $ 1,173,000 $ 293,250 $ 130,000
Maricopa, Arizona 3 $ 588,000 $ 196,000 $ 120,000
El Paso, Colorado 3 $ 735,000 $ 245,000 $ 126,000
Broward, Florida 3 $ 1,067,000 $ 355,666 $ 143,000
Hillsborough, Florida 3 $ 302,000 $ 100,666 $ 120,000
Honolulu, Hawaii 3 $ 1,422,000 $ 474,000 $ 180,000
Worcester, Massachusetts 3 $ 689,000 $ 229,666 $ 147,000
Cumberland, Pennsylvania 3 $ 502,000 $ 167,333 $ 83,000
Bexar, Texas 3 $ 538,000 $ 179,333 $ 186,000
Mobile, Alabama 2 $ 196,000 $ 98,000 $ 70,000
Coconino, Arizona 2 $ 301,000 $ 150,500 $ 80,000
Orange, California 2 $ 480,000 $ 240,000 $ 142,000
San Diego, California 2 $ 674,000 $ 337,000 $ 49,000
Boulder, Colorado 2 $ 239,000 $ 119,500 $ 42,000
Denver, Colorado 2 $ 375,000 $ 187,500 $ 124,000
Douglas, Colorado 2 $ 508,000 $ 254,000 $ 106,000
Elbert, Colorado 2 $ 675,000 $ 337,500 $ 136,000
Jefferson, Colorado 2 $ 530,000 $ 265,000 $ 161,000
Fairfield, Connecticut 2 $ 745,000 $ 372,500 $ 114,000
Brevard, Florida 2 $ 84,000 $ 42,000 $ 108,000
Flagler, Florida 2 $ 188,000 $ 94,000 $ 61,000
Lake, Florida 2 $ 133,000 $ 66,500 $ 86,000
Lee, Florida 2 $ 180,000 $ 90,000 $ 106,000
Manatee, Florida 2 $ 548,000 $ 274,000 $ 164,000
Orange, Florida 2 $ 306,000 $ 153,000 $ 123,000
Palm Beach, Florida 2 $ 324,000 $ 162,000 $ 56,000
Pinellas, Florida 2 $ 465,000 $ 232,500 $ 115,000
Cobb, Georgia 2 $ 477,000 $ 238,500 $ 113,000
Gwinnett, Georgia 2 $ 461,000 $ 230,500 $ 119,000
Richmond, Georgia 2 $ 285,000 $ 142,500 $ 75,000
Floyd, Indiana 2 $ 352,000 $ 176,000 $ 84,000
Cecil, Maryland 2 $ 312,000 $ 156,000 $ 122,000
Wicomico, Maryland 2 $ 78,000 $ 39,000 $ 57,000
Middlesex, Massachusetts 2 $ 528,000 $ 264,000 $ 205,000
Gloucester, New Jersey 2 $ 390,000 $ 195,000 $ 170,000
Cabarrus, North Carolina 2 $ 502,000 $ 251,000 $ 77,000
Catawba, North Carolina 2 $ 102,000 $ 51,000 $ 52,000
Currituck, North Carolina 2 $ 325,000 $ 162,500 $ 77,000
Guilford, North Carolina 2 $ 559,000 $ 279,500 $ 111,000
Mecklenburg, North Carolina 2 $ 148,000 $ 74,000 $ 136,000
Orange, North Carolina 2 $ 480,000 $ 240,000 $ 99,000
Cuyahoga, Ohio 2 $ 185,000 $ 92,500 $ 57,000
Montgomery, Ohio 2 $ 212,000 $ 106,000 $ 63,000
Multnomah, Oregon 2 $ 772,000 $ 386,000 $ 130,000
Berks, Pennsylvania 2 $ 480,000 $ 240,000 $ 154,000
Carbon, Pennsylvania 2 $ 190,000 $ 95,000 $ 128,000
Centre, Pennsylvania 2 $ 320,000 $ 160,000 $ 59,000
Chester, Pennsylvania 2 $ 603,000 $ 301,500 $ 117,000
Delaware, Pennsylvania 2 $ 438,000 $ 219,000 $ 165,000
Westmoreland, Pennsylvania 2 $ 93,000 $ 46,500 $ 55,000
Richland, South Carolina 2 $ 342,000 $ 171,000 $ 79,000
Blount, Tennessee 2 $ 657,000 $ 328,500 $ 98,000
Harris, Texas 2 $ 238,000 $ 119,000 $ 50,000
Salt Lake, Utah 2 $ 757,000 $ 378,500 $ 124,000
Albemarle, Virginia 2 $ 922,000 $ 461,000 $ 141,000
Alexandria, Virginia 2 $ 642,000 $ 321,000 $ 140,000
Bedford, Virginia 2 $ 703,000 $ 351,500 $ 192,000
Fauquier, Virginia 2 $ 430,000 $ 215,000 $ 64,000
James City, Virginia 2 $ 882,000 $ 441,000 $ 170,000
Yakima, Washington 2 $ 239,000 $ 119,500 $ 98,000
Jefferson, West Virginia 2 $ 138,000 $ 69,000 $ 89,000
Madison, Alabama 1 $ 70,000 $ 70,000 $ 101,000
Walker, Alabama 1 $ 149,000 $ 149,000 $ 48,000
Benton, Arkansas 1 $ 108,000 $ 108,000 $ 82,000
Alameda, California 1 $ 340,000 $ 340,000 $ 135,000
Kern, California 1 $ 567,000 $ 567,000 $ 224,000
San Francisco, California 1 $ 834,000 $ 834,000 $ 152,000
San Mateo, California 1 $ 410,000 $ 410,000 $ 228,000
Santa Clara, California 1 $ 834,000 $ 834,000 $ 162,000
Broomfield, Colorado 1 $ 480,000 $ 480,000 $ 245,000
Tolland, Connecticut 1 $ 306,000 $ 306,000 $ 125,000
New Castle, Delaware 1 $ 60,000 $ 60,000 $ 227,000
Sussex, Delaware 1 $ 367,000 $ 367,000 $ 95,000
Bay, Florida 1 $ 15,000 $ 15,000 $ 71,000
Escambia, Florida 1 $ 206,000 $ 206,000 $ 81,000
Hernando, Florida 1 $ 70,000 $ 70,000 $ 50,000
Marion, Florida 1 $ 240,000 $ 240,000 $ 55,000
Polk, Florida 1 $ 60,000 $ 60,000 $ 92,000
DeKalb, Georgia 1 $ 242,000 $ 242,000 $ 78,000
Henry, Georgia 1 $ 90,000 $ 90,000 $ 160,000
Ada, Idaho 1 $ 280,000 $ 280,000 $ 149,000
Cook, Illinois 1 $ 6,000 $ 6,000 $ 41,000
DuPage, Illinois 1 $ 147,000 $ 147,000 $ 248,000
Kane, Illinois 1 $ 319,000 $ 319,000 $ 193,000
Clark, Indiana 1 $ 112,000 $ 112,000 $ 111,000
Hamilton, Indiana 1 $ 100,000 $ 100,000 $ 75,000
Monroe, Indiana 1 $ 115,000 $ 115,000 $ 76,000
Vanderburgh, Indiana 1 $ 228,000 $ 228,000 $ 70,000
Harrison, Iowa 1 $ 193,000 $ 193,000 $ 127,000
Douglas, Kansas 1 $ 224,000 $ 224,000 $ 67,000
Allegany, Maryland 1 $ 29,000 $ 29,000 $ 84,000
Somerset, Maryland 1 $ 210,000 $ 210,000 $ 229,000
Livingston, Michigan 1 $ 182,000 $ 182,000 $ 50,000
Macomb, Michigan 1 $ 67,000 $ 67,000 $ 94,000
Oakland, Michigan 1 $ 360,000 $ 360,000 $ 150,000
Sarpy, Nebraska 1 $ 133,000 $ 133,000 $ 49,000
Clark, Nevada 1 $ 380,000 $ 380,000 $ 147,000
Hillsborough, New Hampshire 1 $ 119,000 $ 119,000 $ 28,000
Atlantic, New Jersey 1 $ 150,000 $ 150,000 $ 115,000
Cape May, New Jersey 1 $ 70,000 $ 70,000 $ 304,000
Mercer, New Jersey 1 $ 205,000 $ 205,000 $ 100,000
Middlesex, New Jersey 1 $ 352,000 $ 352,000 $ 125,000
Somerset, New Jersey 1 $ 182,000 $ 182,000 $ 173,000
Sandoval, New Mexico 1 $ 345,000 $ 345,000 $ 235,000
Erie, New York 1 $ 136,000 $ 136,000 $ 122,000
Nassau, New York 1 $ 200,000 $ 200,000 $ 50,000
New York, New York 1 $ 360,000 $ 360,000 $ 205,000
Onondaga, New York 1 $ 149,000 $ 149,000 $ 98,000
Ontario, New York 1 $ 107,000 $ 107,000 $ 101,000
Queens, New York 1 $ 337,000 $ 337,000 $ 63,000
Chatham, North Carolina 1 $ 80,000 $ 80,000 $ 20,000
Durham, North Carolina 1 $ 22,000 $ 22,000 $ 83,000
Johnston, North Carolina 1 $ 223,000 $ 223,000 $ 86,000
Moore, North Carolina 1 $ 188,000 $ 188,000 $ 58,000
New Hanover, North Carolina 1 $ 268,000 $ 268,000 $ 87,000
Pitt, North Carolina 1 $ 508,000 $ 508,000 $ 204,000
Portage, Ohio 1 $ 143,000 $ 143,000 $ 213,000
Wood, Ohio 1 $ 170,000 $ 170,000 $ 88,000
Beaver, Pennsylvania 1 $ 20,000 $ 20,000 $ 115,000
Butler, Pennsylvania 1 $ 200,000 $ 200,000 $ 64,000
Cambria, Pennsylvania 1 $ 123,000 $ 123,000 $ 147,000
Dauphin, Pennsylvania 1 $ 145,000 $ 145,000 $ 124,000
Erie, Pennsylvania 1 $ 90,000 $ 90,000 $ 303,000
Lancaster, Pennsylvania 1 $ 184,000 $ 184,000 $ 85,000
Lycoming, Pennsylvania 1 $ 240,000 $ 240,000 $ 93,000
Montgomery, Pennsylvania 1 $ 216,000 $ 216,000 $ 85,000
Philadelphia, Pennsylvania 1 $ 263,000 $ 263,000 $ 128,000
Aiken, South Carolina 1 $ 120,000 $ 120,000 $ 45,000
Charleston, South Carolina 1 $ 216,000 $ 216,000 $ 84,000
Dorchester, South Carolina 1 $ 74,000 $ 74,000 $ 135,000
Greenville, South Carolina 1 $ 50,000 $ 50,000 $ 52,000
Kershaw, South Carolina 1 $ 256,000 $ 256,000 $ 70,000
Lexington, South Carolina 1 $ 129,000 $ 129,000 $ 79,000
Sumter, South Carolina 1 $ 200,000 $ 200,000 $ 107,000
Knox, Tennessee 1 $ 90,000 $ 90,000 $ 113,000
Montgomery, Tennessee 1 $ 20,000 $ 20,000 $ 102,000
Sullivan, Tennessee 1 $ 159,000 $ 159,000 $ 105,000
El Paso, Texas 1 $ 216,000 $ 216,000 $ 127,000
Medina, Texas 1 $ 396,000 $ 396,000 $ 138,000
Montgomery, Texas 1 $ 109,000 $ 109,000 $ 59,000
Tarrant, Texas 1 $ 142,000 $ 142,000 $ 88,000
Travis, Texas 1 $ 615,000 $ 615,000 $ 267,000
Wilson, Texas 1 $ 135,000 $ 135,000 $ 112,000
Utah, Utah 1 $ 200,000 $ 200,000 $ 75,000
Charlottesville, Virginia 1 $ 735,000 $ 735,000 $ 114,000
Dinwiddie, Virginia 1 $ 162,000 $ 162,000 $ 59,000
Fairfax City, Virginia 1 $ 400,000 $ 400,000 $ 118,000
Frederick, Virginia 1 $ 80,000 $ 80,000 $ 110,000
Greene, Virginia 1 $ 251,000 $ 251,000 $ 158,000
Henrico, Virginia 1 $ 220,000 $ 220,000 $ 132,000
Manassas, Virginia 1 $ 323,000 $ 323,000 $ 96,000
Stafford, Virginia 1 $ 200,000 $ 200,000 $ 101,000
Virginia Beach, Virginia 1 $ 170,000 $ 170,000 $ 127,000
Washington, Virginia 1 $ 115,000 $ 115,000 $ 53,000
Pierce, Washington 1 $ 417,000 $ 417,000 $ 148,000
Berkeley, West Virginia 1 $ 175,000 $ 175,000 $ 79,000
Hampshire, West Virginia 1 $ 132,000 $ 132,000 $ 269,000
Ohio, West Virginia 1 $ 63,000 $ 63,000 $ 65,000
Preston, West Virginia 1 $ 111,000 $ 111,000 $ 50,000
Wirt, West Virginia 1 $ 30,000 $ 30,000 $ 29,000
Sheboygan, Wisconsin 1 $ 100,000 $ 100,000 $ 30,000

Mortgage Loan Application Detail Totals for Tower Federal Credit Union 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 1,636 $397,797,000 $243,000 $834,000 $121,000 $1,470,000
Home Purchase 328 $90,165,000 $274,000 $834,000 $112,000 $343,000
Home Improvement 304 $13,042,000 $42,000 $250,000 $117,000 $363,000

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 1,188 $267,948,000 $225,000 $834,000 $120,000 $1,470,000
Not Provided 837 $175,358,000 $209,000 $749,000 $123,000 $1,180,000
Black or African American 165 $38,004,000 $230,000 $834,000 $103,000 $289,000
Hispanic 35 $8,055,000 $230,000 $585,000 $120,000 $265,000
Asian 32 $8,730,000 $272,000 $834,000 $97,000 $225,000
American Indian or Alaskan Native 7 $1,869,000 $267,000 $507,000 $135,000 $215,000
Native Hawaiian or Other Pacific Islander 4 $1,040,000 $260,000 $370,000 $108,000 $153,000
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) 2,261 $498,759,000 $220,000 $834,000 $120,000 $1,470,000
VA-guaranteed (Veterans Administration) 7 $2,245,000 $320,000 $406,000 $94,000 $122,000
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

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 1,801 $376,445,000 $209,000 $834,000 $121,000 $1,180,000
Application Withdrawn By Applicant 381 $106,628,000 $279,000 $834,000 $121,000 $1,470,000
Application Denied By Financial Institution 82 $17,301,000 $210,000 $749,000 $82,000 $213,000
Application Approved But Not Accepted 4 $630,000 $157,000 $285,000 $128,000 $231,000
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
Debt-To-Income Ratio 46 $12,353,000 $268,000 $749,000 $75,000 $172,000
Credit History 28 $4,462,000 $159,000 $459,000 $89,000 $196,000
Collateral 6 $126,000 $21,000 $30,000 $102,000 $213,000
Unverifiable Information 1 $20,000 $20,000 $20,000 $45,000 $45,000
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
Other 0 $0 $0 $0 $0 $0

Our comprehensive HMDA mortgage statistics provide invaluable insights into Tower Federal Credit Union'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 Tower Federal 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 Maryland, download the full spreadsheet with aggregated HMDA statistics today.

Download the Maryland Lender List