Valley National Bank Mortgage Lending & HMDA Data, 2003

In 2003, Valley National Bank of Wayne, NJ reported 8,462 mortgage applications totaling $1.6 billion. The average application was for $191,283, and applicants reported an average income of $99,990. 84% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Newark, NJ (2,958), Bergen-Passaic, NJ (2,643) and Middlesex-Somerset-Hunterdon, NJ (640) (applications in parentheses).

Mortgage Company & Address Valley National Bank
1460 Valley Road
Wayne, NJ 07470
Tel #: available with data download
Federal Regulator * available with data download
Years 2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 8,462
Total Mortgage Loan Application Amount $1,618,638,000
Average Mortgage Loan Application Amount $191,283
Highest Mortgage Loan Application Amount $17,538,000
Average Applicant Income $99,990
Highest Applicant Income $3,100,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Valley National Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Valley National Bank by County in 2003

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loans Applications Average Mortgage Loan Application Amount Average Applicant Income
Bergen, New Jersey 1,500 $ 344,105,000 $ 229,403 $ 108,000
Morris, New Jersey 1,168 $ 232,538,000 $ 199,090 $ 98,000
Passaic, New Jersey 1,143 $ 190,088,000 $ 166,306 $ 81,000
Essex, New Jersey 881 $ 188,671,000 $ 214,155 $ 100,000
Sussex, New Jersey 433 $ 62,578,000 $ 144,521 $ 82,000
Middlesex, New Jersey 328 $ 51,716,000 $ 157,670 $ 95,000
Union, New Jersey 290 $ 55,312,000 $ 190,731 $ 90,000
Hudson, New Jersey 242 $ 39,205,000 $ 162,004 $ 75,000
Somerset, New Jersey 235 $ 52,795,000 $ 224,659 $ 99,000
Ocean, New Jersey 228 $ 36,626,000 $ 160,640 $ 100,000
Monmouth, New Jersey 201 $ 39,639,000 $ 197,208 $ 114,000
Warren, New Jersey 186 $ 28,516,000 $ 153,311 $ 95,000
Montgomery, Pennsylvania 115 $ 18,038,000 $ 156,852 $ 126,000
Westchester, New York 99 $ 29,363,000 $ 296,595 $ 128,000
Hunterdon, New Jersey 77 $ 17,176,000 $ 223,064 $ 109,000
Bucks, Pennsylvania 77 $ 10,671,000 $ 138,584 $ 123,000
Mercer, New Jersey 74 $ 13,915,000 $ 188,040 $ 113,000
Chester, Pennsylvania 65 $ 12,066,000 $ 185,630 $ 104,000
Delaware, Pennsylvania 57 $ 7,544,000 $ 132,350 $ 199,000
Rockland, New York 55 $ 13,849,000 $ 251,800 $ 102,000
Burlington, New Jersey 52 $ 6,398,000 $ 123,038 $ 76,000
Nassau, New York 50 $ 15,789,000 $ 315,780 $ 159,000
New York, New York 40 $ 22,780,000 $ 569,500 $ 213,000
Suffolk, New York 40 $ 10,423,000 $ 260,575 $ 273,000
Camden, New Jersey 39 $ 4,143,000 $ 106,230 $ 71,000
York, Pennsylvania 36 $ 3,628,000 $ 100,777 $ 73,000
Philadelphia, Pennsylvania 35 $ 2,818,000 $ 80,514 $ 76,000
Atlantic, New Jersey 34 $ 4,133,000 $ 121,558 $ 104,000
Berks, Pennsylvania 30 $ 3,068,000 $ 102,266 $ 95,000
Lancaster, Pennsylvania 29 $ 3,479,000 $ 119,965 $ 100,000
Queens, New York 27 $ 6,220,000 $ 230,370 $ 74,000
Orange, New York 25 $ 3,718,000 $ 148,720 $ 94,000
Gloucester, New Jersey 24 $ 2,253,000 $ 93,875 $ 82,000
Lehigh, Pennsylvania 23 $ 2,197,000 $ 95,521 $ 90,000
Northampton, Pennsylvania 23 $ 2,186,000 $ 95,043 $ 55,000
Cape May, New Jersey 20 $ 3,032,000 $ 151,600 $ 153,000
Palm Beach, Florida 18 $ 4,504,000 $ 250,222 $ 179,000
Dutchess, New York 18 $ 2,742,000 $ 152,333 $ 86,000
Pike, Pennsylvania 17 $ 1,693,000 $ 99,588 $ 85,000
Fairfield, Connecticut 16 $ 7,410,000 $ 463,125 $ 242,000
Hillsborough, New Hampshire 16 $ 1,972,000 $ 123,250 $ 105,000
Dauphin, Pennsylvania 16 $ 1,621,000 $ 101,312 $ 71,000
Cumberland, Pennsylvania 15 $ 1,304,000 $ 86,933 $ 74,000
Monroe, Pennsylvania 15 $ 1,662,000 $ 110,800 $ 102,000
Allegheny, Pennsylvania 14 $ 1,233,000 $ 88,071 $ 75,000
Lee, Florida 13 $ 2,220,000 $ 170,769 $ 126,000
Cumberland, New Jersey 12 $ 1,113,000 $ 92,750 $ 65,000
Richmond, New York 12 $ 2,630,000 $ 219,166 $ 87,000
Lebanon, Pennsylvania 12 $ 1,324,000 $ 110,333 $ 103,000
New Castle, Delaware 10 $ 1,131,000 $ 113,100 $ 79,000
Cumberland, Maine 10 $ 895,000 $ 89,500 $ 63,000
Rockingham, New Hampshire 10 $ 1,168,000 $ 116,800 $ 176,000
Bronx, New York 10 $ 1,499,000 $ 149,900 $ 63,000
Kings, New York 10 $ 2,548,000 $ 254,800 $ 79,000
Middlesex, Massachusetts 7 $ 3,417,000 $ 488,142 $ 198,000
Franklin, Pennsylvania 7 $ 845,000 $ 120,714 $ 63,000
Orange, Florida 6 $ 873,000 $ 145,500 $ 66,000
Androscoggin, Maine 6 $ 482,000 $ 80,333 $ 59,000
Salem, New Jersey 6 $ 454,000 $ 75,666 $ 59,000
York, Maine 5 $ 406,000 $ 81,200 $ 77,000
Merrimack, New Hampshire 5 $ 382,000 $ 76,400 $ 84,000
Adams, Pennsylvania 5 $ 492,000 $ 98,400 $ 64,000
Hartford, Connecticut 4 $ 1,236,000 $ 309,000 $ 161,000
New London, Connecticut 4 $ 944,000 $ 236,000 $ 106,000
Sussex, Delaware 4 $ 1,158,000 $ 289,500 $ 42,000
Broward, Florida 4 $ 682,000 $ 170,500 $ 135,000
Montgomery, Maryland 4 $ 693,000 $ 173,250 $ 130,000
Essex, Massachusetts 4 $ 1,748,000 $ 437,000 $ 318,000
Worcester, Massachusetts 4 $ 767,000 $ 191,750 $ 94,000
Putnam, New York 4 $ 650,000 $ 162,500 $ 122,000
Ulster, New York 4 $ 269,000 $ 67,250 $ 93,000
Warren, New York 4 $ 545,000 $ 136,250 $ 126,000
Wayne, Pennsylvania 4 $ 841,000 $ 210,250 $ 67,000
Fairfax, Virginia 4 $ 820,000 $ 205,000 $ 100,000
Litchfield, Connecticut 3 $ 1,102,000 $ 367,333 $ 214,000
Brevard, Florida 3 $ 254,000 $ 84,666 $ 66,000
Collier, Florida 3 $ 413,000 $ 137,666 $ 242,000
Miami-Dade, Florida 3 $ 798,000 $ 266,000 $ 199,000
Volusia, Florida 3 $ 287,000 $ 95,666 $ 100,000
Sagadahoc, Maine 3 $ 269,000 $ 89,666 $ 82,000
Frederick, Maryland 3 $ 507,000 $ 169,000 $ 112,000
Greene, New York 3 $ 546,000 $ 182,000 $ 111,000
Saratoga, New York 3 $ 359,000 $ 119,666 $ 131,000
Sullivan, New York 3 $ 407,000 $ 135,666 $ 192,000
Carbon, Pennsylvania 3 $ 200,000 $ 66,666 $ 76,000
Luzerne, Pennsylvania 3 $ 171,000 $ 57,000 $ 54,000
Beaufort, South Carolina 3 $ 262,000 $ 87,333 $ 100,000
Tolland, Connecticut 2 $ 228,000 $ 114,000 $ 87,000
Windham, Connecticut 2 $ 231,000 $ 115,500 $ 67,000
Martin, Florida 2 $ 283,000 $ 141,500 $ 101,000
Osceola, Florida 2 $ 158,000 $ 79,000 $ 93,000
Pinellas, Florida 2 $ 211,000 $ 105,500 $ 157,000
Sarasota, Florida 2 $ 276,000 $ 138,000 $ 171,000
Lincoln, Maine 2 $ 265,000 $ 132,500 $ 187,000
Baltimore, Maryland 2 $ 499,000 $ 249,500 $ 125,000
Harford, Maryland 2 $ 231,000 $ 115,500 $ 101,000
Prince George's, Maryland 2 $ 404,000 $ 202,000 $ 124,000
Norfolk, Massachusetts 2 $ 799,000 $ 399,500 $ 168,000
Belknap, New Hampshire 2 $ 154,000 $ 77,000 $ 66,000
Carroll, New Hampshire 2 $ 212,000 $ 106,000 $ 192,000
Columbia, New York 2 $ 475,000 $ 237,500 $ 138,000
Erie, New York 2 $ 183,000 $ 91,500 $ 61,000
Rensselaer, New York 2 $ 415,000 $ 207,500 $ 84,000
Washington, New York 2 $ 228,000 $ 114,000 $ 102,000
Lackawanna, Pennsylvania 2 $ 188,000 $ 94,000 $ 95,000
Perry, Pennsylvania 2 $ 268,000 $ 134,000 $ 95,000
Rutland, Vermont 2 $ 350,000 $ 175,000 $ 386,000
Loudoun, Virginia 2 $ 266,000 $ 133,000 $ 57,000
Kanawha, West Virginia 2 $ 183,000 $ 91,500 $ 65,000
San Diego, California 1 $ 791,000 $ 791,000 $ 0
Adams, Colorado 1 $ 150,000 $ 150,000 $ 151,000
Middlesex, Connecticut 1 $ 60,000 $ 60,000 $ 152,000
New Haven, Connecticut 1 $ 162,000 $ 162,000 $ 130,000
Charlotte, Florida 1 $ 92,000 $ 92,000 $ 41,000
Indian River, Florida 1 $ 200,000 $ 200,000 $ 164,000
Lake, Florida 1 $ 54,000 $ 54,000 $ 93,000
Manatee, Florida 1 $ 350,000 $ 350,000 $ 96,000
Pasco, Florida 1 $ 200,000 $ 200,000 $ 143,000
Seminole, Florida 1 $ 160,000 $ 160,000 $ 61,000
St. Lucie, Florida 1 $ 260,000 $ 260,000 $ 626,000
Columbia, Georgia 1 $ 393,000 $ 393,000 $ 318,000
Dodge, Georgia 1 $ 64,000 $ 64,000 $ 54,000
Irwin, Georgia 1 $ 50,000 $ 50,000 $ 107,000
DuPage, Illinois 1 $ 169,000 $ 169,000 $ 75,000
Penobscot, Maine 1 $ 85,000 $ 85,000 $ 67,000
Anne Arundel, Maryland 1 $ 100,000 $ 100,000 $ 105,000
Carroll, Maryland 1 $ 135,000 $ 135,000 $ 46,000
Washington, Maryland 1 $ 148,000 $ 148,000 $ 48,000
Barnstable, Massachusetts 1 $ 380,000 $ 380,000 $ 189,000
Berkshire, Massachusetts 1 $ 350,000 $ 350,000 $ 0
Bristol, Massachusetts 1 $ 113,000 $ 113,000 $ 129,000
Plymouth, Massachusetts 1 $ 384,000 $ 384,000 $ 180,000
Grafton, New Hampshire 1 $ 72,000 $ 72,000 $ 192,000
Strafford, New Hampshire 1 $ 68,000 $ 68,000 $ 90,000
Albany, New York 1 $ 81,000 $ 81,000 $ 82,000
Broome, New York 1 $ 45,000 $ 45,000 $ 47,000
Delaware, New York 1 $ 114,000 $ 114,000 $ 276,000
Essex, New York 1 $ 275,000 $ 275,000 $ 105,000
Jefferson, New York 1 $ 122,000 $ 122,000 $ 47,000
Monroe, New York 1 $ 50,000 $ 50,000 $ 60,000
Montgomery, New York 1 $ 52,000 $ 52,000 $ 24,000
Onondaga, New York 1 $ 117,000 $ 117,000 $ 135,000
Ontario, New York 1 $ 142,000 $ 142,000 $ 75,000
Otsego, New York 1 $ 32,000 $ 32,000 $ 101,000
Schuyler, New York 1 $ 60,000 $ 60,000 $ 62,000
St. Lawrence, New York 1 $ 126,000 $ 126,000 $ 273,000
Steuben, New York 1 $ 88,000 $ 88,000 $ 99,000
Wake, North Carolina 1 $ 160,000 $ 160,000 $ 61,000
Butler, Ohio 1 $ 85,000 $ 85,000 $ 57,000
Butler, Pennsylvania 1 $ 100,000 $ 100,000 $ 64,000
Centre, Pennsylvania 1 $ 196,000 $ 196,000 $ 57,000
Erie, Pennsylvania 1 $ 66,000 $ 66,000 $ 45,000
Schuylkill, Pennsylvania 1 $ 129,000 $ 129,000 $ 72,000
Susquehanna, Pennsylvania 1 $ 92,000 $ 92,000 $ 86,000
Union, Pennsylvania 1 $ 121,000 $ 121,000 $ 88,000
Westmoreland, Pennsylvania 1 $ 66,000 $ 66,000 $ 73,000
Newport, Rhode Island 1 $ 365,000 $ 365,000 $ 0
Providence, Rhode Island 1 $ 265,000 $ 265,000 $ 136,000
Charleston, South Carolina 1 $ 398,000 $ 398,000 $ 216,000
Richland, South Carolina 1 $ 75,000 $ 75,000 $ 64,000
Windham, Vermont 1 $ 133,000 $ 133,000 $ 172,000
Alexandria, Virginia 1 $ 213,000 $ 213,000 $ 227,000
Arlington, Virginia 1 $ 178,000 $ 178,000 $ 81,000
Franklin, Virginia 1 $ 50,000 $ 50,000 $ 84,000
Prince William, Virginia 1 $ 120,000 $ 120,000 $ 68,000
Shenandoah, Virginia 1 $ 200,000 $ 200,000 $ 48,000
Monongalia, West Virginia 1 $ 75,000 $ 75,000 $ 68,000
Wood, West Virginia 1 $ 126,000 $ 126,000 $ 75,000

Mortgage Loan Application Detail Totals for Valley National Bank in 2003

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 (home purchase or home improvement, one-to-four family) 7,285 $1,345,299,000 $209,857 $2,000,000 $118,952 $3,100,000
Home Purchase (one-to-four family) 853 $219,895,000 $232,200 $1,100,000 $96,600 $1,896,000
Home Improvement (one-to-four family) 288 $13,158,000 $27,000 $375,000 $54,666 $312,000
Multifamily dwelling (home purchase, home improvement, and refinancings) 36 $40,286,000 $1,106,000 $17,538,000 $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 5,859 $1,089,735,000 $206,050 $1,100,000 $120,400 $2,758,000
Information not provided by applicant in mail or telephone application 1,597 $323,267,000 $271,307 $2,000,000 $100,846 $3,100,000
Hispanic 413 $64,177,000 $182,800 $600,000 $90,200 $550,000
Asian or Pacific Islander 373 $76,957,000 $148,500 $750,000 $117,500 $1,072,000
Black 141 $20,002,000 $111,000 $450,000 $97,800 $346,000
Other 34 $6,251,000 $270,250 $457,000 $87,750 $240,000
Not applicable 24 $35,125,000 $1,416,500 $17,538,000 $0 $0
American Indian or Alaskan Native 21 $3,124,000 $148,000 $365,000 $86,000 $195,000

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) 8,462 $1,618,638,000 $211,000 $17,538,000 $111,428 $3,100,000
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 7,124 $1,264,703,000 $204,578 $1,250,000 $110,052 $3,100,000
Application Approved But Not Accepted 425 $93,217,000 $176,416 $1,000,000 $135,916 $1,392,000
Application Denied By Financial Institution 388 $63,177,000 $135,833 $1,000,000 $65,166 $332,000
Application Withdrawn By Applicant 354 $125,317,000 $325,181 $17,538,000 $118,363 $1,100,000
Loan Purchased By The Institution 171 $72,224,000 $486,400 $800,000 $243,800 $1,026,000
File Closed For Incompleteness 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 183 $25,968,000 $131,800 $850,000 $40,200 $217,000
Collateral 72 $12,515,000 $174,250 $495,000 $78,500 $317,000
Credit History 72 $14,613,000 $205,000 $1,000,000 $86,200 $236,000
Other 29 $4,644,000 $89,750 $489,000 $78,250 $332,000
Credit Application Incomplete 25 $4,117,000 $125,333 $365,000 $107,666 $278,000
Insufficient Cash (Downpayment, Closing Cost) 7 $1,320,000 $188,000 $300,000 $88,000 $185,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Unverifiable Information 0 $0 $0 $0 $0 $0
Employment History 0 $0 $0 $0 $0 $0

Our comprehensive HMDA mortgage statistics provide invaluable insights into Valley National Bank's 2003 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 National Bank'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 New Jersey, download the full spreadsheet with aggregated HMDA statistics today.

Download the New Jersey Lender List