Tower Federal Credit Union Mortgage Lending & HMDA Data, 2013

In 2013, Tower Federal Credit Union of Laurel, MD reported 1,906 mortgage applications totaling $424.8 million, down 19% from 2012. The average application was for $222,858, and applicants reported an average income of $128,444. 73% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Baltimore-Towson, MD (1,364), Washington-Arlington-Alexandria, DC-VA-MD-WV (153) and Bethesda-Rockville-Frederick, MD (92) (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
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Total Number of Mortgage Applications 1,906
Total Mortgage Loan Application Amount $424,768,000
Average Mortgage Loan Application Amount $222,858
Highest Mortgage Loan Application Amount $834,000
Average Applicant Income $128,444
Highest Applicant Income $1,595,000

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records Tower Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2013

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 635 $ 143,904,000 $ 226,620 $ 124,000
Howard, Maryland 344 $ 84,793,000 $ 246,491 $ 146,000
Baltimore, Maryland 149 $ 28,877,000 $ 193,805 $ 109,000
Carroll, Maryland 122 $ 28,177,000 $ 230,959 $ 138,000
Prince George's, Maryland 88 $ 18,924,000 $ 215,045 $ 128,000
Montgomery, Maryland 65 $ 17,097,000 $ 263,030 $ 144,000
Baltimore City, Maryland 59 $ 10,536,000 $ 178,576 $ 108,000
Queen Anne's, Maryland 29 $ 7,370,000 $ 254,137 $ 112,000
Frederick, Maryland 27 $ 6,509,000 $ 241,074 $ 153,000
Harford, Maryland 26 $ 6,250,000 $ 240,384 $ 135,000
York, Pennsylvania 22 $ 3,587,000 $ 163,045 $ 143,000
District of Columbia, District Of Columbia 15 $ 3,122,000 $ 208,133 $ 123,000
Sussex, Delaware 12 $ 2,466,000 $ 205,500 $ 114,000
Columbia, Georgia 12 $ 1,995,000 $ 166,250 $ 141,000
Calvert, Maryland 12 $ 3,301,000 $ 275,083 $ 129,000
Worcester, Maryland 12 $ 2,665,000 $ 222,083 $ 168,000
Fairfax, Virginia 12 $ 2,787,000 $ 232,250 $ 130,000
Bexar, Texas 10 $ 2,353,000 $ 235,300 $ 148,000
Adams, Pennsylvania 8 $ 1,892,000 $ 236,500 $ 122,000
Loudoun, Virginia 8 $ 1,967,000 $ 245,875 $ 117,000
Sumter, Florida 7 $ 1,568,000 $ 224,000 $ 118,000
Caroline, Maryland 6 $ 1,018,000 $ 169,666 $ 101,000
Horry, South Carolina 6 $ 987,000 $ 164,500 $ 130,000
Charles, Maryland 5 $ 1,455,000 $ 291,000 $ 141,000
Prince William, Virginia 5 $ 1,081,000 $ 216,200 $ 105,000
Arapahoe, Colorado 4 $ 907,000 $ 226,750 $ 185,000
Hillsborough, Florida 4 $ 893,000 $ 223,250 $ 156,000
St. Mary's, Maryland 4 $ 915,000 $ 228,750 $ 119,000
Wake, North Carolina 4 $ 895,000 $ 223,750 $ 120,000
Douglas, Colorado 3 $ 1,045,000 $ 348,333 $ 129,000
New Castle, Delaware 3 $ 539,000 $ 179,666 $ 134,000
Polk, Florida 3 $ 358,000 $ 119,333 $ 99,000
Talbot, Maryland 3 $ 189,000 $ 63,000 $ 79,000
Mecklenburg, North Carolina 3 $ 918,000 $ 306,000 $ 134,000
Tarrant, Texas 3 $ 521,000 $ 173,666 $ 106,000
Salt Lake, Utah 3 $ 680,000 $ 226,666 $ 217,000
Arlington, Virginia 3 $ 1,045,000 $ 348,333 $ 102,000
Bedford, Virginia 3 $ 750,000 $ 250,000 $ 103,000
Jefferson, West Virginia 3 $ 1,138,000 $ 379,333 $ 139,000
Maricopa, Arizona 2 $ 206,000 $ 103,000 $ 66,000
Elbert, Colorado 2 $ 588,000 $ 294,000 $ 192,000
Broward, Florida 2 $ 530,000 $ 265,000 $ 93,000
Flagler, Florida 2 $ 266,000 $ 133,000 $ 96,000
Manatee, Florida 2 $ 375,000 $ 187,500 $ 237,000
Osceola, Florida 2 $ 230,000 $ 115,000 $ 51,000
Allegany, Maryland 2 $ 47,000 $ 23,500 $ 45,000
Dorchester, Maryland 2 $ 514,000 $ 257,000 $ 65,000
Garrett, Maryland 2 $ 203,000 $ 101,500 $ 129,000
Wicomico, Maryland 2 $ 215,000 $ 107,500 $ 83,000
Washtenaw, Michigan 2 $ 225,000 $ 112,500 $ 112,000
Clark, Nevada 2 $ 313,000 $ 156,500 $ 76,000
Essex, New Jersey 2 $ 608,000 $ 304,000 $ 95,000
Brunswick, North Carolina 2 $ 295,000 $ 147,500 $ 121,000
Guilford, North Carolina 2 $ 576,000 $ 288,000 $ 133,000
Johnston, North Carolina 2 $ 450,000 $ 225,000 $ 124,000
New Hanover, North Carolina 2 $ 495,000 $ 247,500 $ 124,000
Allegheny, Pennsylvania 2 $ 288,000 $ 144,000 $ 91,000
Centre, Pennsylvania 2 $ 391,000 $ 195,500 $ 98,000
Dauphin, Pennsylvania 2 $ 369,000 $ 184,500 $ 140,000
Beaufort, South Carolina 2 $ 296,000 $ 148,000 $ 159,000
Collin, Texas 2 $ 342,000 $ 171,000 $ 73,000
James City, Virginia 2 $ 524,000 $ 262,000 $ 118,000
Yakima, Washington 2 $ 249,000 $ 124,500 $ 55,000
Berkeley, West Virginia 2 $ 217,000 $ 108,500 $ 158,000
Dale, Alabama 1 $ 115,000 $ 115,000 $ 81,000
Franklin, Alabama 1 $ 150,000 $ 150,000 $ 145,000
Houston, Alabama 1 $ 35,000 $ 35,000 $ 273,000
Madison, Alabama 1 $ 57,000 $ 57,000 $ 56,000
Pima, Arizona 1 $ 172,000 $ 172,000 $ 171,000
Pinal, Arizona 1 $ 5,000 $ 5,000 $ 52,000
Benton, Arkansas 1 $ 45,000 $ 45,000 $ 34,000
Santa Clara, California 1 $ 784,000 $ 784,000 $ 256,000
Jefferson, Colorado 1 $ 139,000 $ 139,000 $ 51,000
Larimer, Colorado 1 $ 223,000 $ 223,000 $ 155,000
Weld, Colorado 1 $ 225,000 $ 225,000 $ 110,000
New Haven, Connecticut 1 $ 224,000 $ 224,000 $ 192,000
Kent, Delaware 1 $ 20,000 $ 20,000 $ 66,000
Brevard, Florida 1 $ 72,000 $ 72,000 $ 122,000
Duval, Florida 1 $ 151,000 $ 151,000 $ 98,000
Highlands, Florida 1 $ 54,000 $ 54,000 $ 61,000
Lake, Florida 1 $ 50,000 $ 50,000 $ 137,000
Lee, Florida 1 $ 239,000 $ 239,000 $ 184,000
Martin, Florida 1 $ 220,000 $ 220,000 $ 250,000
Miami-Dade, Florida 1 $ 368,000 $ 368,000 $ 133,000
Pinellas, Florida 1 $ 10,000 $ 10,000 $ 76,000
Sarasota, Florida 1 $ 194,000 $ 194,000 $ 100,000
Seminole, Florida 1 $ 26,000 $ 26,000 $ 140,000
St. Johns, Florida 1 $ 178,000 $ 178,000 $ 120,000
Volusia, Florida 1 $ 54,000 $ 54,000 $ 47,000
Camden, Georgia 1 $ 312,000 $ 312,000 $ 200,000
Cobb, Georgia 1 $ 25,000 $ 25,000 $ 46,000
Douglas, Georgia 1 $ 262,000 $ 262,000 $ 173,000
Gwinnett, Georgia 1 $ 157,000 $ 157,000 $ 60,000
Peach, Georgia 1 $ 162,000 $ 162,000 $ 100,000
Polk, Georgia 1 $ 152,000 $ 152,000 $ 158,000
Putnam, Georgia 1 $ 178,000 $ 178,000 $ 235,000
Richmond, Georgia 1 $ 80,000 $ 80,000 $ 126,000
Kauai, Hawaii 1 $ 559,000 $ 559,000 $ 542,000
Bonner, Idaho 1 $ 291,000 $ 291,000 $ 86,000
Kane, Illinois 1 $ 120,000 $ 120,000 $ 76,000
St. Clair, Illinois 1 $ 170,000 $ 170,000 $ 106,000
Marion, Indiana 1 $ 238,000 $ 238,000 $ 204,000
Monroe, Indiana 1 $ 100,000 $ 100,000 $ 95,000
Kenton, Kentucky 1 $ 33,000 $ 33,000 $ 28,000
Iberville, Louisiana 1 $ 252,000 $ 252,000 $ 117,000
St. James, Louisiana 1 $ 221,000 $ 221,000 $ 129,000
Knox, Maine 1 $ 82,000 $ 82,000 $ 74,000
Cecil, Maryland 1 $ 263,000 $ 263,000 $ 66,000
Somerset, Maryland 1 $ 160,000 $ 160,000 $ 240,000
Washington, Maryland 1 $ 184,000 $ 184,000 $ 92,000
Macomb, Michigan 1 $ 76,000 $ 76,000 $ 149,000
Muskegon, Michigan 1 $ 86,000 $ 86,000 $ 277,000
Dakota, Minnesota 1 $ 145,000 $ 145,000 $ 139,000
Ramsey, Minnesota 1 $ 626,000 $ 626,000 $ 206,000
Scott, Minnesota 1 $ 281,000 $ 281,000 $ 105,000
St. Louis, Missouri 1 $ 205,000 $ 205,000 $ 84,000
Douglas, Nebraska 1 $ 278,000 $ 278,000 $ 133,000
Elko, Nevada 1 $ 76,000 $ 76,000 $ 58,000
Merrimack, New Hampshire 1 $ 285,000 $ 285,000 $ 169,000
Mercer, New Jersey 1 $ 343,000 $ 343,000 $ 162,000
Monmouth, New Jersey 1 $ 235,000 $ 235,000 $ 168,000
Somerset, New Jersey 1 $ 196,000 $ 196,000 $ 52,000
Allegany, New York 1 $ 70,000 $ 70,000 $ 74,000
Dutchess, New York 1 $ 306,000 $ 306,000 $ 160,000
Jefferson, New York 1 $ 25,000 $ 25,000 $ 81,000
Onondaga, New York 1 $ 73,000 $ 73,000 $ 67,000
Ontario, New York 1 $ 132,000 $ 132,000 $ 143,000
Seneca, New York 1 $ 167,000 $ 167,000 $ 108,000
Alamance, North Carolina 1 $ 183,000 $ 183,000 $ 64,000
Buncombe, North Carolina 1 $ 82,000 $ 82,000 $ 98,000
Catawba, North Carolina 1 $ 135,000 $ 135,000 $ 208,000
Cleveland, North Carolina 1 $ 33,000 $ 33,000 $ 42,000
Cumberland, North Carolina 1 $ 87,000 $ 87,000 $ 126,000
Dare, North Carolina 1 $ 199,000 $ 199,000 $ 253,000
Forsyth, North Carolina 1 $ 129,000 $ 129,000 $ 44,000
Pasquotank, North Carolina 1 $ 71,000 $ 71,000 $ 85,000
Rockingham, North Carolina 1 $ 94,000 $ 94,000 $ 53,000
Transylvania, North Carolina 1 $ 138,000 $ 138,000 $ 108,000
Union, North Carolina 1 $ 388,000 $ 388,000 $ 123,000
Watauga, North Carolina 1 $ 109,000 $ 109,000 $ 23,000
Cuyahoga, Ohio 1 $ 74,000 $ 74,000 $ 63,000
Wood, Ohio 1 $ 125,000 $ 125,000 $ 38,000
Payne, Oklahoma 1 $ 114,000 $ 114,000 $ 84,000
Tulsa, Oklahoma 1 $ 189,000 $ 189,000 $ 77,000
Deschutes, Oregon 1 $ 25,000 $ 25,000 $ 45,000
Lincoln, Oregon 1 $ 113,000 $ 113,000 $ 42,000
Multnomah, Oregon 1 $ 405,000 $ 405,000 $ 170,000
Chester, Pennsylvania 1 $ 97,000 $ 97,000 $ 67,000
Erie, Pennsylvania 1 $ 201,000 $ 201,000 $ 127,000
Fulton, Pennsylvania 1 $ 225,000 $ 225,000 $ 68,000
Lancaster, Pennsylvania 1 $ 60,000 $ 60,000 $ 156,000
Luzerne, Pennsylvania 1 $ 250,000 $ 250,000 $ 181,000
Lycoming, Pennsylvania 1 $ 195,000 $ 195,000 $ 104,000
Westmoreland, Pennsylvania 1 $ 247,000 $ 247,000 $ 134,000
Newport, Rhode Island 1 $ 590,000 $ 590,000 $ 241,000
Aiken, South Carolina 1 $ 147,000 $ 147,000 $ 49,000
Coffee, Tennessee 1 $ 66,000 $ 66,000 $ 135,000
Hamilton, Tennessee 1 $ 113,000 $ 113,000 $ 79,000
Hickman, Tennessee 1 $ 246,000 $ 246,000 $ 116,000
Travis, Texas 1 $ 144,000 $ 144,000 $ 99,000
Williamson, Texas 1 $ 105,000 $ 105,000 $ 109,000
Utah, Utah 1 $ 150,000 $ 150,000 $ 85,000
Albemarle, Virginia 1 $ 335,000 $ 335,000 $ 120,000
Chesapeake, Virginia 1 $ 260,000 $ 260,000 $ 133,000
Fauquier, Virginia 1 $ 100,000 $ 100,000 $ 83,000
Greene, Virginia 1 $ 175,000 $ 175,000 $ 86,000
Harrisonburg, Virginia 1 $ 119,000 $ 119,000 $ 249,000
Henrico, Virginia 1 $ 178,000 $ 178,000 $ 58,000
Louisa, Virginia 1 $ 611,000 $ 611,000 $ 309,000
Manassas, Virginia 1 $ 309,000 $ 309,000 $ 142,000
Montgomery, Virginia 1 $ 250,000 $ 250,000 $ 88,000
Portsmouth, Virginia 1 $ 119,000 $ 119,000 $ 192,000
Suffolk, Virginia 1 $ 38,000 $ 38,000 $ 132,000
York, Virginia 1 $ 189,000 $ 189,000 $ 127,000
Clallam, Washington 1 $ 52,000 $ 52,000 $ 41,000
King, Washington 1 $ 345,000 $ 345,000 $ 105,000
Pierce, Washington 1 $ 157,000 $ 157,000 $ 220,000
Morgan, West Virginia 1 $ 300,000 $ 300,000 $ 125,000

Mortgage Loan Application Detail Totals for Tower Federal Credit Union in 2013

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 1,405 $325,380,000 $231,000 $834,000 $133,000 $1,595,000
Home Purchase 336 $85,866,000 $255,000 $729,000 $116,000 $346,000
Home Improvement 165 $13,522,000 $81,000 $417,000 $115,000 $382,000

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 1,015 $231,741,000 $228,000 $760,000 $129,000 $1,595,000
Not Provided 716 $156,156,000 $218,000 $834,000 $131,000 $480,000
Black or African American 115 $23,398,000 $203,000 $594,000 $110,000 $375,000
Hispanic 33 $7,976,000 $241,000 $437,000 $148,000 $457,000
Asian 20 $4,340,000 $217,000 $371,000 $103,000 $193,000
American Indian or Alaskan Native 4 $498,000 $124,000 $167,000 $68,000 $108,000
Native Hawaiian or Other Pacific Islander 3 $659,000 $219,000 $287,000 $188,000 $349,000
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) 1,889 $419,787,000 $222,000 $834,000 $129,000 $1,595,000
VA-guaranteed (Veterans Administration) 17 $4,981,000 $293,000 $417,000 $113,000 $254,000
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 1,389 $304,147,000 $218,000 $784,000 $131,000 $1,595,000
Application Withdrawn By Applicant 486 $116,751,000 $240,000 $834,000 $125,000 $794,000
Application Denied By Financial Institution 30 $3,654,000 $121,000 $460,000 $84,000 $246,000
File Closed For Incompleteness 1 $216,000 $216,000 $216,000 $90,000 $90,000
Application Approved But Not Accepted 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
Credit History 15 $2,180,000 $145,000 $384,000 $101,000 $246,000
Debt-To-Income Ratio 11 $723,000 $65,000 $178,000 $47,000 $161,000
Collateral 3 $614,000 $204,000 $460,000 $103,000 $198,000
Other 1 $137,000 $137,000 $137,000 $178,000 $178,000
Unverifiable Information 0 $0 $0 $0 $0 $0
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

Our comprehensive HMDA mortgage statistics provide invaluable insights into Tower Federal Credit Union's 2013 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.
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