Valley First Credit Union Mortgage Lending & HMDA Data, 2018
In 2018, Valley First Credit Union of Modesto, CA reported 130 mortgage applications totaling $25.8 million, up 23% from 2017. The average application was for $198,076, and applicants reported an average income of $73,730. 48% of its applications resulted in an originated loan and 23% were denied. Its largest markets were Modesto, CA (75), Stockton-Lodi, CA (15) and Fresno, CA (14) (applications in parentheses).
| Mortgage Company & Address | Valley First Credit Union 1005 W Orangeburg Ave Modesto, CA 95336 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 130 |
| Total Mortgage Loan Application Amount | $25,750,000 |
| Average Mortgage Loan Application Amount | $198,076 |
| Highest Mortgage Loan Application Amount | $815,000 |
| Average Applicant Income | $73,730 |
| Highest Applicant Income | $337,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Valley First Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Modesto, CA | 75 | $ 15,285,000 | $ 203,800 | $ 70,000 |
| Stockton-Lodi, CA | 15 | $ 3,315,000 | $ 221,000 | $ 77,000 |
| Fresno, CA | 14 | $ 2,300,000 | $ 164,285 | $ 79,000 |
| Merced, CA | 8 | $ 1,240,000 | $ 155,000 | $ 49,000 |
| Outside any metro area | 8 | $ 1,680,000 | $ 210,000 | $ 91,000 |
| Madera, CA | 4 | $ 610,000 | $ 152,500 | $ 59,000 |
| Visalia-Porterville, CA | 2 | $ 290,000 | $ 145,000 | $ 133,000 |
| Bakersfield, CA | 1 | $ 55,000 | $ 55,000 | $ 53,000 |
| Cambridge-Newton-Framingham, MA | 1 | $ 85,000 | $ 85,000 | $ 60,000 |
| San Francisco-Redwood City-South San Francisco, CA | 1 | $ 815,000 | $ 815,000 | $ 278,000 |
| Yuba City, CA | 1 | $ 75,000 | $ 75,000 | $ 31,000 |
Mortgage Loan Application Detail Totals for Valley First Credit Union in 2018
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 |
|---|---|---|---|---|---|---|
| Cash-out Refinancing | 57 | $11,115,000 | $195,000 | $815,000 | $72,000 | $319,000 |
| Home Purchase | 30 | $6,710,000 | $223,000 | $675,000 | $77,000 | $337,000 |
| Refinancing | 25 | $4,855,000 | $194,000 | $375,000 | $81,000 | $194,000 |
| Other Purpose | 12 | $2,430,000 | $202,000 | $365,000 | $54,000 | $100,000 |
| Home Improvement | 6 | $640,000 | $106,000 | $165,000 | $83,000 | $142,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 52 | $11,620,000 | $223,000 | $815,000 | $88,000 | $319,000 |
| Hispanic | 37 | $6,335,000 | $171,000 | $345,000 | $71,000 | $132,000 |
| Not Provided | 27 | $5,115,000 | $189,000 | $445,000 | $43,000 | $337,000 |
| Asian | 7 | $1,635,000 | $233,000 | $455,000 | $87,000 | $104,000 |
| Black or African American | 5 | $885,000 | $177,000 | $335,000 | $90,000 | $153,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $105,000 | $105,000 | $105,000 | $122,000 | $122,000 |
| Not applicable | 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) | 130 | $25,750,000 | $198,000 | $815,000 | $74,000 | $337,000 |
| 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 | 62 | $11,710,000 | $188,000 | $815,000 | $87,000 | $319,000 |
| Application Withdrawn By Applicant | 32 | $7,240,000 | $226,000 | $455,000 | $67,000 | $337,000 |
| Application Denied By Financial Institution | 30 | $5,420,000 | $180,000 | $675,000 | $54,000 | $168,000 |
| File Closed For Incompleteness | 5 | $1,225,000 | $245,000 | $285,000 | $74,000 | $126,000 |
| Application Approved But Not Accepted | 1 | $155,000 | $155,000 | $155,000 | $52,000 | $52,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 100 | $20,330,000 | $203,000 | $815,000 | $79,000 | $337,000 |
| Credit History | 13 | $1,945,000 | $149,000 | $345,000 | $23,000 | $102,000 |
| Other | 5 | $1,265,000 | $253,000 | $675,000 | $78,000 | $168,000 |
| Debt-To-Income Ratio | 4 | $620,000 | $155,000 | $215,000 | $62,000 | $142,000 |
| Collateral | 3 | $465,000 | $155,000 | $285,000 | $62,000 | $132,000 |
| Unverifiable Information | 3 | $615,000 | $205,000 | $295,000 | $109,000 | $143,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $510,000 | $255,000 | $295,000 | $89,000 | $91,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Valley First Credit Union's 2018 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 Valley First 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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with aggregated HMDA statistics today.
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