Traditions Federal C U Mortgage Lending & HMDA Data, 2004
In 2004, Traditions Federal C U of Toccoa, GA reported 34 mortgage applications totaling $3.0 million, up 162% from 2003. The average application was for $87,735, and applicants reported an average income of $56,676. 82% of its applications resulted in an originated loan and 6% were denied. Its largest market was Albany, GA (1).
| Mortgage Company & Address | Traditions Federal C U Po Box 1300 Toccoa, GA 30557 |
| Federal Regulator | * available with data download |
| Years | 2007 2004 2003 |
| Total Number of Mortgage Applications | 34 |
| Total Mortgage Loan Application Amount | $2,983,000 |
| Average Mortgage Loan Application Amount | $87,735 |
| Highest Mortgage Loan Application Amount | $195,000 |
| Average Applicant Income | $56,676 |
| Highest Applicant Income | $101,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Traditions Federal C U filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Detail Totals for Traditions Federal C U in 2004
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 | 25 | $2,148,000 | $73,500 | $195,000 | $53,500 | $96,000 |
| Home Purchase | 7 | $721,000 | $75,500 | $150,000 | $36,000 | $101,000 |
| Home Improvement | 2 | $114,000 | $57,000 | $68,000 | $32,000 | $42,000 |
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 | 32 | $2,831,000 | $64,000 | $195,000 | $38,500 | $101,000 |
| Asian | 1 | $60,000 | $60,000 | $60,000 | $44,000 | $44,000 |
| Black or African American | 1 | $92,000 | $92,000 | $92,000 | $56,000 | $56,000 |
| Hispanic | 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 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 34 | $2,983,000 | $69,500 | $195,000 | $43,000 | $101,000 |
| 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 | 28 | $2,262,000 | $70,500 | $160,000 | $46,000 | $80,000 |
| Application Withdrawn By Applicant | 3 | $401,000 | $133,000 | $195,000 | $91,000 | $101,000 |
| Application Denied By Financial Institution | 2 | $188,000 | $94,000 | $150,000 | $24,500 | $25,000 |
| File Closed For Incompleteness | 1 | $132,000 | $132,000 | $132,000 | $28,000 | $28,000 |
| 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 | 2 | $188,000 | $94,000 | $150,000 | $24,500 | $25,000 |
| Debt-To-Income Ratio | 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 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Traditions Federal C U's 2004 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 Traditions Federal C U'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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