Valley National Bank Mortgage Lending & HMDA Data, 2017
In 2017, Valley National Bank of Passaic, NJ reported 4,175 mortgage applications totaling $1.9 billion, down 29% from 2016. The average application was for $461,234, and applicants reported an average income of $177,924. 61% of its applications resulted in an originated loan and 13% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (1,905), Newark, NJ-PA (1,116) and Nassau County-Suffolk County, NY (302) (applications in parentheses).
| Mortgage Company & Address | Valley National Bank 615 Main Avenue Passaic, NJ 07055 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 |
| Total Number of Mortgage Applications | 4,175 |
| Total Mortgage Loan Application Amount | $1,925,656,000 |
| Average Mortgage Loan Application Amount | $461,234 |
| Highest Mortgage Loan Application Amount | $36,420,000 |
| Average Applicant Income | $177,924 |
| Highest Applicant Income | $14,435,000 |
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Act (HMDA) records Valley National Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| 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 | 488 | $ 192,742,000 | $ 394,963 | $ 198,000 |
| Morris, New Jersey | 375 | $ 119,422,000 | $ 318,458 | $ 173,000 |
| Essex, New Jersey | 319 | $ 121,606,000 | $ 381,210 | $ 176,000 |
| Monmouth, New Jersey | 275 | $ 130,854,000 | $ 475,832 | $ 210,000 |
| Passaic, New Jersey | 265 | $ 69,591,000 | $ 262,607 | $ 169,000 |
| Suffolk, New York | 182 | $ 72,996,000 | $ 401,076 | $ 183,000 |
| Union, New Jersey | 172 | $ 49,305,000 | $ 286,656 | $ 141,000 |
| Middlesex, New Jersey | 151 | $ 34,089,000 | $ 225,754 | $ 103,000 |
| Hudson, New Jersey | 134 | $ 50,566,000 | $ 377,358 | $ 155,000 |
| Ocean, New Jersey | 131 | $ 52,292,000 | $ 399,175 | $ 225,000 |
| Nassau, New York | 120 | $ 56,715,000 | $ 472,625 | $ 183,000 |
| Somerset, New Jersey | 115 | $ 33,029,000 | $ 287,208 | $ 151,000 |
| Kings, New York | 110 | $ 134,220,000 | $ 1,220,181 | $ 157,000 |
| Queens, New York | 106 | $ 83,166,000 | $ 784,584 | $ 108,000 |
| Sussex, New Jersey | 94 | $ 15,418,000 | $ 164,021 | $ 110,000 |
| New York, New York | 83 | $ 219,615,000 | $ 2,645,963 | $ 237,000 |
| Palm Beach, Florida | 79 | $ 30,350,000 | $ 384,177 | $ 240,000 |
| Orange, New York | 57 | $ 13,448,000 | $ 235,929 | $ 126,000 |
| Dutchess, New York | 53 | $ 12,376,000 | $ 233,509 | $ 98,000 |
| Broward, Florida | 52 | $ 17,888,000 | $ 344,000 | $ 104,000 |
| Warren, New Jersey | 52 | $ 7,787,000 | $ 149,750 | $ 165,000 |
| Cape May, New Jersey | 51 | $ 32,340,000 | $ 634,117 | $ 317,000 |
| Miami-Dade, Florida | 39 | $ 18,984,000 | $ 486,769 | $ 309,000 |
| Westchester, New York | 39 | $ 36,768,000 | $ 942,769 | $ 170,000 |
| Hillsborough, Florida | 36 | $ 11,529,000 | $ 320,250 | $ 90,000 |
| Hunterdon, New Jersey | 33 | $ 15,999,000 | $ 484,818 | $ 272,000 |
| Pinellas, Florida | 31 | $ 8,643,000 | $ 278,806 | $ 140,000 |
| Orange, Florida | 28 | $ 9,916,000 | $ 354,142 | $ 225,000 |
| Brevard, Florida | 26 | $ 8,114,000 | $ 312,076 | $ 52,000 |
| Richmond, New York | 26 | $ 7,698,000 | $ 296,076 | $ 118,000 |
| Lee, Florida | 25 | $ 6,806,000 | $ 272,240 | $ 77,000 |
| Mercer, New Jersey | 25 | $ 6,865,000 | $ 274,600 | $ 183,000 |
| Rockland, New York | 25 | $ 8,010,000 | $ 320,400 | $ 154,000 |
| Philadelphia, Pennsylvania | 23 | $ 13,778,000 | $ 599,043 | $ 234,000 |
| Sarasota, Florida | 19 | $ 7,740,000 | $ 407,368 | $ 151,000 |
| Ulster, New York | 19 | $ 3,990,000 | $ 210,000 | $ 113,000 |
| Collier, Florida | 17 | $ 7,337,000 | $ 431,588 | $ 673,000 |
| Duval, Florida | 17 | $ 17,290,000 | $ 1,017,058 | $ 252,000 |
| Atlantic, New Jersey | 17 | $ 6,470,000 | $ 380,588 | $ 185,000 |
| Bronx, New York | 15 | $ 34,574,000 | $ 2,304,933 | $ 85,000 |
| Montgomery, Pennsylvania | 15 | $ 6,823,000 | $ 454,866 | $ 240,000 |
| Burlington, New Jersey | 12 | $ 3,450,000 | $ 287,500 | $ 122,000 |
| Camden, New Jersey | 12 | $ 3,490,000 | $ 290,833 | $ 274,000 |
| Bucks, Pennsylvania | 12 | $ 4,431,000 | $ 369,250 | $ 240,000 |
| Northampton, Pennsylvania | 12 | $ 3,089,000 | $ 257,416 | $ 75,000 |
| Indian River, Florida | 11 | $ 1,749,000 | $ 159,000 | $ 77,000 |
| Seminole, Florida | 10 | $ 2,651,000 | $ 265,100 | $ 894,000 |
| Lehigh, Pennsylvania | 9 | $ 23,983,000 | $ 2,664,777 | $ 80,000 |
| Gloucester, New Jersey | 8 | $ 2,065,000 | $ 258,125 | $ 152,000 |
| Pike, Pennsylvania | 8 | $ 1,106,000 | $ 138,250 | $ 118,000 |
| Manatee, Florida | 7 | $ 3,064,000 | $ 437,714 | $ 200,000 |
| Putnam, New York | 7 | $ 2,412,000 | $ 344,571 | $ 222,000 |
| Chester, Pennsylvania | 6 | $ 2,171,000 | $ 361,833 | $ 173,000 |
| Monroe, Pennsylvania | 6 | $ 828,000 | $ 138,000 | $ 92,000 |
| Fairfield, Connecticut | 5 | $ 4,499,000 | $ 899,800 | $ 262,000 |
| New Castle, Delaware | 5 | $ 17,783,000 | $ 3,556,600 | $ 97,000 |
| Clay, Florida | 4 | $ 330,000 | $ 82,500 | $ 0 |
| Martin, Florida | 4 | $ 892,000 | $ 223,000 | $ 107,000 |
| St. Johns, Florida | 4 | $ 2,439,000 | $ 609,750 | $ 35,000 |
| St. Lucie, Florida | 4 | $ 607,000 | $ 151,750 | $ 85,000 |
| Sullivan, New York | 4 | $ 488,000 | $ 122,000 | $ 63,000 |
| Delaware, Pennsylvania | 4 | $ 1,339,000 | $ 334,750 | $ 156,000 |
| Los Angeles, California | 3 | $ 3,621,000 | $ 1,207,000 | $ 377,000 |
| Volusia, Florida | 3 | $ 2,719,000 | $ 906,333 | $ 84,000 |
| Cobb, Georgia | 3 | $ 1,319,000 | $ 439,666 | $ 144,000 |
| Cumberland, New Jersey | 3 | $ 295,000 | $ 98,333 | $ 128,000 |
| Oneida, New York | 3 | $ 176,000 | $ 58,666 | $ 1,054,000 |
| Alachua, Florida | 2 | $ 572,000 | $ 286,000 | $ 113,000 |
| Charlotte, Florida | 2 | $ 406,000 | $ 203,000 | $ 71,000 |
| Lake, Florida | 2 | $ 250,000 | $ 125,000 | $ 83,000 |
| Marion, Florida | 2 | $ 2,344,000 | $ 1,172,000 | $ 0 |
| Monroe, Florida | 2 | $ 1,426,000 | $ 713,000 | $ 396,000 |
| Pasco, Florida | 2 | $ 2,369,000 | $ 1,184,500 | $ 35,000 |
| Polk, Florida | 2 | $ 266,000 | $ 133,000 | $ 60,000 |
| Howard, Maryland | 2 | $ 943,000 | $ 471,500 | $ 303,000 |
| Greene, New York | 2 | $ 815,000 | $ 407,500 | $ 206,000 |
| Allegheny, Pennsylvania | 2 | $ 1,810,000 | $ 905,000 | $ 212,000 |
| Lackawanna, Pennsylvania | 2 | $ 410,000 | $ 205,000 | $ 183,000 |
| Luzerne, Pennsylvania | 2 | $ 244,000 | $ 122,000 | $ 242,000 |
| Wayne, Pennsylvania | 2 | $ 332,000 | $ 166,000 | $ 120,000 |
| Beaufort, South Carolina | 2 | $ 2,955,000 | $ 1,477,500 | $ 363,000 |
| Jefferson, Alabama | 1 | $ 600,000 | $ 600,000 | $ 288,000 |
| Mobile, Alabama | 1 | $ 3,000,000 | $ 3,000,000 | $ 0 |
| Montgomery, Alabama | 1 | $ 3,750,000 | $ 3,750,000 | $ 0 |
| Tallapoosa, Alabama | 1 | $ 250,000 | $ 250,000 | $ 71,000 |
| Alameda, California | 1 | $ 1,680,000 | $ 1,680,000 | $ 433,000 |
| Litchfield, Connecticut | 1 | $ 400,000 | $ 400,000 | $ 180,000 |
| Middlesex, Connecticut | 1 | $ 158,000 | $ 158,000 | $ 145,000 |
| New Haven, Connecticut | 1 | $ 125,000 | $ 125,000 | $ 94,000 |
| Sussex, Delaware | 1 | $ 170,000 | $ 170,000 | $ 143,000 |
| District of Columbia, District Of Columbia | 1 | $ 653,000 | $ 653,000 | $ 1,609,000 |
| Citrus, Florida | 1 | $ 122,000 | $ 122,000 | $ 162,000 |
| Hendry, Florida | 1 | $ 200,000 | $ 200,000 | $ 68,000 |
| Highlands, Florida | 1 | $ 180,000 | $ 180,000 | $ 134,000 |
| Osceola, Florida | 1 | $ 3,100,000 | $ 3,100,000 | $ 0 |
| Sumter, Florida | 1 | $ 200,000 | $ 200,000 | $ 406,000 |
| Fulton, Georgia | 1 | $ 1,171,000 | $ 1,171,000 | $ 0 |
| Cook, Illinois | 1 | $ 357,000 | $ 357,000 | $ 246,000 |
| Boone, Kentucky | 1 | $ 175,000 | $ 175,000 | $ 80,000 |
| East Baton Rouge, Louisiana | 1 | $ 4,500,000 | $ 4,500,000 | $ 0 |
| Anne Arundel, Maryland | 1 | $ 1,000,000 | $ 1,000,000 | $ 849,000 |
| Baltimore City, Maryland | 1 | $ 350,000 | $ 350,000 | $ 0 |
| Montgomery, Maryland | 1 | $ 355,000 | $ 355,000 | $ 378,000 |
| Barnstable, Massachusetts | 1 | $ 880,000 | $ 880,000 | $ 395,000 |
| Columbia, New York | 1 | $ 145,000 | $ 145,000 | $ 69,000 |
| Essex, New York | 1 | $ 140,000 | $ 140,000 | $ 116,000 |
| Schenectady, New York | 1 | $ 4,000,000 | $ 4,000,000 | $ 0 |
| Schoharie, New York | 1 | $ 542,000 | $ 542,000 | $ 755,000 |
| Seneca, New York | 1 | $ 840,000 | $ 840,000 | $ 1,165,000 |
| Henderson, North Carolina | 1 | $ 348,000 | $ 348,000 | $ 80,000 |
| Transylvania, North Carolina | 1 | $ 300,000 | $ 300,000 | $ 0 |
| Clermont, Ohio | 1 | $ 710,000 | $ 710,000 | $ 501,000 |
| Berks, Pennsylvania | 1 | $ 444,000 | $ 444,000 | $ 302,000 |
| Dauphin, Pennsylvania | 1 | $ 450,000 | $ 450,000 | $ 347,000 |
| Susquehanna, Pennsylvania | 1 | $ 124,000 | $ 124,000 | $ 280,000 |
| Aiken, South Carolina | 1 | $ 200,000 | $ 200,000 | $ 155,000 |
| Horry, South Carolina | 1 | $ 92,000 | $ 92,000 | $ 177,000 |
| York, South Carolina | 1 | $ 204,000 | $ 204,000 | $ 131,000 |
| Fort Bend, Texas | 1 | $ 154,000 | $ 154,000 | $ 80,000 |
Mortgage Loan Application Detail Totals for Valley National Bank in 2017
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 | 1,967 | $1,085,906,000 | $552,000 | $36,420,000 | $171,000 | $14,435,000 |
| Home Purchase | 1,827 | $813,938,000 | $445,000 | $10,800,000 | $196,000 | $6,705,000 |
| Home Improvement | 381 | $25,812,000 | $67,000 | $500,000 | $127,000 | $1,024,000 |
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 | 2,644 | $916,351,000 | $346,000 | $8,500,000 | $205,000 | $14,435,000 |
| Hispanic | 409 | $97,286,000 | $237,000 | $850,000 | $104,000 | $1,087,000 |
| Asian | 369 | $138,780,000 | $376,000 | $2,520,000 | $190,000 | $6,705,000 |
| Not Provided | 310 | $133,257,000 | $429,000 | $5,000,000 | $225,000 | $2,111,000 |
| Not applicable | 274 | $600,560,000 | $2,191,000 | $36,420,000 | $0 | $53,000 |
| Black or African American | 150 | $34,482,000 | $229,000 | $1,300,000 | $104,000 | $993,000 |
| American Indian or Alaskan Native | 12 | $3,336,000 | $278,000 | $798,000 | $139,000 | $600,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $1,604,000 | $229,000 | $323,000 | $108,000 | $151,000 |
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) | 3,783 | $1,830,840,000 | $483,000 | $36,420,000 | $190,000 | $14,435,000 |
| FHA-insured (Federal Housing Administration) | 275 | $68,925,000 | $250,000 | $620,000 | $68,000 | $300,000 |
| VA-guaranteed (Veterans Administration) | 116 | $25,719,000 | $221,000 | $511,000 | $59,000 | $202,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $172,000 | $172,000 | $172,000 | $63,000 | $63,000 |
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 | 2,546 | $1,307,903,000 | $513,000 | $36,420,000 | $187,000 | $8,167,000 |
| Loan Purchased By The Institution | 708 | $271,332,000 | $383,000 | $1,250,000 | $157,000 | $2,009,000 |
| Application Denied By Financial Institution | 524 | $145,385,000 | $277,000 | $2,485,000 | $131,000 | $1,250,000 |
| Application Withdrawn By Applicant | 235 | $144,149,000 | $613,000 | $21,000,000 | $247,000 | $14,435,000 |
| Application Approved But Not Accepted | 116 | $40,218,000 | $346,000 | $2,813,000 | $207,000 | $2,468,000 |
| File Closed For Incompleteness | 45 | $16,369,000 | $363,000 | $2,800,000 | $139,000 | $635,000 |
| Preapproval Denied by Financial Institution | 1 | $300,000 | $300,000 | $300,000 | $52,000 | $52,000 |
| Preapproval Approved but not Accepted | 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 | 266 | $64,032,000 | $240,000 | $1,600,000 | $79,000 | $518,000 |
| Credit History | 104 | $25,753,000 | $247,000 | $850,000 | $174,000 | $1,024,000 |
| Collateral | 101 | $40,303,000 | $399,000 | $2,485,000 | $211,000 | $1,250,000 |
| Other | 38 | $11,832,000 | $311,000 | $2,000,000 | $174,000 | $649,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 8 | $2,096,000 | $262,000 | $518,000 | $156,000 | $272,000 |
| Credit Application Incomplete | 6 | $1,156,000 | $192,000 | $390,000 | $0 | $0 |
| Unverifiable Information | 2 | $513,000 | $256,000 | $389,000 | $81,000 | $83,000 |
| Mortgage Insurance Denied | 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 2017 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.
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