Valley National Bank Mortgage Lending & HMDA Data, 2021
In 2021, Valley National Bank of Passaic, NJ reported 10,414 mortgage applications totaling $5.5 billion, up 9% from 2020. The average application was for $525,301, and applicants reported an average income of $219,281. 71% of its applications resulted in an originated loan and 5% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (2,698), Newark, NJ-PA (1,638) and New York-Newark, NY (1,489) (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 | 10,414 |
| Total Mortgage Loan Application Amount | $5,470,495,000 |
| Average Mortgage Loan Application Amount | $525,301 |
| Highest Mortgage Loan Application Amount | $75,005,000 |
| Average Applicant Income | $219,281 |
| Highest Applicant Income | $8,159,000 |
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Act (HMDA) records Valley National Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| New York-Jersey City-White Plains, NY-NJ | 2,698 | $ 1,728,300,000 | $ 640,585 | $ 189,691 |
| Newark, NJ-PA | 1,638 | $ 503,480,000 | $ 307,374 | $ 163,083 |
| New York-Newark, NY | 1,489 | $ 572,120,000 | $ 384,231 | $ 222,198 |
| Nassau County-Suffolk County, NY | 953 | $ 519,135,000 | $ 544,737 | $ 237,000 |
| Tampa-St. Petersburg-Clearwater, FL | 697 | $ 471,925,000 | $ 677,080 | $ 320,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 272 | $ 159,700,000 | $ 587,132 | $ 401,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 240 | $ 92,310,000 | $ 384,625 | $ 188,000 |
| Miami-Miami Beach-Kendall, FL | 218 | $ 190,610,000 | $ 874,357 | $ 266,000 |
| Ocean City, NJ | 216 | $ 159,440,000 | $ 738,148 | $ 379,000 |
| Naples-Immokalee-Marco Island, FL | 176 | $ 110,580,000 | $ 628,295 | $ 359,000 |
| Palm Bay-Melbourne-Titusville, FL | 169 | $ 47,225,000 | $ 279,437 | $ 75,000 |
| Cape Coral-Fort Myers, FL | 168 | $ 57,980,000 | $ 345,119 | $ 154,000 |
| Orlando-Kissimmee-Sanford, FL | 168 | $ 91,750,000 | $ 546,130 | $ 199,000 |
| Outside any metro area | 162 | $ 62,300,000 | $ 384,567 | $ 238,629 |
| Allentown-Bethlehem-Easton, PA-NJ | 111 | $ 95,945,000 | $ 864,369 | $ 112,018 |
| North Port-Sarasota-Bradenton, FL | 77 | $ 68,795,000 | $ 893,441 | $ 537,000 |
| Montgomery, AL | 71 | $ 14,515,000 | $ 204,436 | $ 85,000 |
| Kingston, NY | 62 | $ 19,160,000 | $ 309,032 | $ 178,000 |
| Birmingham-Hoover, AL | 60 | $ 13,340,000 | $ 222,333 | $ 119,000 |
| Atlantic City-Hammonton, NJ | 59 | $ 29,075,000 | $ 492,796 | $ 245,000 |
| Jacksonville, FL | 59 | $ 62,995,000 | $ 1,067,711 | $ 263,000 |
| Trenton, NJ | 49 | $ 39,085,000 | $ 797,653 | $ 240,000 |
| Port St. Lucie, FL | 46 | $ 25,170,000 | $ 547,173 | $ 250,000 |
| Bridgeport-Stamford-Norwalk, CT | 45 | $ 33,255,000 | $ 739,000 | $ 325,000 |
| Montgomery County-Bucks County-Chester County, PA | 45 | $ 21,295,000 | $ 473,222 | $ 248,000 |
| Camden, NJ | 44 | $ 19,570,000 | $ 444,772 | $ 222,000 |
| Lakeland-Winter Haven, FL | 39 | $ 23,455,000 | $ 601,410 | $ 178,000 |
| Auburn-Opelika, AL | 32 | $ 7,340,000 | $ 229,375 | $ 80,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 30 | $ 12,450,000 | $ 415,000 | $ 219,000 |
| Philadelphia, PA | 30 | $ 29,760,000 | $ 992,000 | $ 307,000 |
| Sebastian-Vero Beach, FL | 23 | $ 7,325,000 | $ 318,478 | $ 131,000 |
| East Stroudsburg, PA | 16 | $ 2,090,000 | $ 130,625 | $ 117,000 |
| Rochester, NY | 13 | $ 2,115,000 | $ 162,692 | $ 76,000 |
| Charlotte-Concord-Gastonia, NC-SC | 10 | $ 14,480,000 | $ 1,448,000 | $ 313,000 |
| Glens Falls, NY | 9 | $ 3,535,000 | $ 392,777 | $ 163,000 |
| Punta Gorda, FL | 9 | $ 2,345,000 | $ 260,555 | $ 84,000 |
| Albany-Schenectady-Troy, NY | 7 | $ 12,975,000 | $ 1,853,571 | $ 152,000 |
| Atlanta-Sandy Springs-Roswell, GA | 7 | $ 5,385,000 | $ 769,285 | $ 209,000 |
| Cincinnati, OH-KY-IN | 7 | $ 2,065,000 | $ 295,000 | $ 217,285 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 7 | $ 1,735,000 | $ 247,857 | $ 206,285 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 7 | $ 5,165,000 | $ 737,857 | $ 619,000 |
| New Haven-Milford, CT | 6 | $ 2,760,000 | $ 460,000 | $ 486,000 |
| Ocala, FL | 6 | $ 3,390,000 | $ 565,000 | $ 112,000 |
| Sebring, FL | 6 | $ 4,720,000 | $ 786,666 | $ 164,000 |
| Wilmington, DE-MD-NJ | 6 | $ 13,420,000 | $ 2,236,666 | $ 108,000 |
| Austin-Round Rock, TX | 5 | $ 2,755,000 | $ 551,000 | $ 218,000 |
| Crestview-Fort Walton Beach-Destin, FL | 5 | $ 3,255,000 | $ 651,000 | $ 179,000 |
| Hilton Head Island-Bluffton-Beaufort, SC | 5 | $ 7,635,000 | $ 1,527,000 | $ 332,000 |
| Providence-Warwick, RI-MA | 5 | $ 2,105,000 | $ 421,000 | $ 227,800 |
| Salisbury, MD-DE | 5 | $ 2,035,000 | $ 407,000 | $ 220,000 |
| Barnstable Town, MA | 4 | $ 1,420,000 | $ 355,000 | $ 246,000 |
| Charleston-North Charleston, SC | 4 | $ 2,010,000 | $ 502,500 | $ 784,000 |
| Columbus, GA-AL | 4 | $ 2,860,000 | $ 715,000 | $ 94,000 |
| Savannah, GA | 4 | $ 1,470,000 | $ 367,500 | $ 162,000 |
| The Villages, FL | 4 | $ 1,570,000 | $ 392,500 | $ 177,000 |
| Baton Rouge, LA | 3 | $ 2,475,000 | $ 825,000 | $ 323,000 |
| Cambridge-Newton-Framingham, MA | 3 | $ 1,815,000 | $ 605,000 | $ 169,000 |
| Hartford-West Hartford-East Hartford, CT | 3 | $ 1,235,000 | $ 411,666 | $ 379,000 |
| Knoxville, TN | 3 | $ 765,000 | $ 255,000 | $ 71,000 |
| Los Angeles-Long Beach-Glendale, CA | 3 | $ 3,525,000 | $ 1,175,000 | $ 1,008,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 3 | $ 4,805,000 | $ 1,601,666 | $ 293,000 |
| Richmond, VA | 3 | $ 4,415,000 | $ 1,471,666 | $ 121,000 |
| Scranton--Wilkes-Barre--Hazleton, PA | 3 | $ 285,000 | $ 95,000 | $ 68,000 |
| Tallahassee, FL | 3 | $ 1,205,000 | $ 401,666 | $ 548,000 |
| Tuscaloosa, AL | 3 | $ 865,000 | $ 288,333 | $ 70,000 |
| Baltimore-Columbia-Towson, MD | 2 | $ 1,010,000 | $ 505,000 | $ 400,000 |
| Boston, MA | 2 | $ 620,000 | $ 310,000 | $ 721,000 |
| Buffalo-Cheektowaga-Niagara Falls, NY | 2 | $ 400,000 | $ 200,000 | $ 367,000 |
| Chicago-Naperville, IL | 2 | $ 610,000 | $ 305,000 | $ 260,000 |
| Gettysburg, PA | 2 | $ 4,170,000 | $ 2,085,000 | $ 304,000 |
| Homosassa Springs, FL | 2 | $ 300,000 | $ 150,000 | $ 60,000 |
| Houston-The Woodlands-Sugar Land, TX | 2 | $ 1,220,000 | $ 610,000 | $ 385,000 |
| Ithaca, NY | 2 | $ 600,000 | $ 300,000 | $ 329,000 |
| Jacksonville, NC | 2 | $ 690,000 | $ 345,000 | $ 121,000 |
| Kingsport-Bristol-Bristol, TN-VA | 2 | $ 410,000 | $ 205,000 | $ 53,000 |
| Lancaster, PA | 2 | $ 570,000 | $ 285,000 | $ 196,000 |
| Louisville/Jefferson County, KY-IN | 2 | $ 4,200,000 | $ 2,100,000 | $ 77,000 |
| Napa, CA | 2 | $ 460,000 | $ 230,000 | $ 277,000 |
| Pensacola-Ferry Pass-Brent, FL | 2 | $ 12,560,000 | $ 6,280,000 | $ 126,000 |
| Pittsburgh, PA | 2 | $ 530,000 | $ 265,000 | $ 209,000 |
| Pittsfield, MA | 2 | $ 1,290,000 | $ 645,000 | $ 516,000 |
| Portland-South Portland, ME | 2 | $ 600,000 | $ 300,000 | $ 171,000 |
| Raleigh, NC | 2 | $ 770,000 | $ 385,000 | $ 116,000 |
| San Diego-Carlsbad, CA | 2 | $ 3,660,000 | $ 1,830,000 | $ 953,000 |
| Vineland-Bridgeton, NJ | 2 | $ 300,000 | $ 150,000 | $ 80,000 |
| Anaheim-Santa Ana-Irvine, CA | 1 | $ 1,005,000 | $ 1,005,000 | $ 1,545,000 |
| Anchorage, AK | 1 | $ 415,000 | $ 415,000 | $ 38,000 |
| Anniston-Oxford-Jacksonville, AL | 1 | $ 135,000 | $ 135,000 | $ 48,000 |
| Bowling Green, KY | 1 | $ 245,000 | $ 245,000 | $ 166,000 |
| Columbus, OH | 1 | $ 395,000 | $ 395,000 | $ 135,000 |
| Dallas-Plano-Irving, TX | 1 | $ 175,000 | $ 175,000 | $ 177,000 |
| Daphne-Fairhope-Foley, AL | 1 | $ 285,000 | $ 285,000 | $ 48,000 |
| Dayton-Springfield-Kettering, OH | 1 | $ 95,000 | $ 95,000 | $ 86,000 |
| Duluth, MN-WI | 1 | $ 365,000 | $ 365,000 | $ 2,039,000 |
| Durham-Chapel Hill, NC | 1 | $ 2,005,000 | $ 2,005,000 | $ 560,000 |
| Fayetteville, NC | 1 | $ 235,000 | $ 235,000 | $ 197,000 |
| Gadsden, AL | 1 | $ 195,000 | $ 195,000 | $ 63,000 |
| Gainesville, FL | 1 | $ 425,000 | $ 425,000 | $ 1,183,000 |
| Gainesville, GA | 1 | $ 225,000 | $ 225,000 | $ 150,000 |
| Greenville-Anderson-Mauldin, SC | 1 | $ 635,000 | $ 635,000 | $ 208,000 |
| Hickory-Lenoir-Morganton, NC | 1 | $ 185,000 | $ 185,000 | $ 52,000 |
| Hinesville, GA | 1 | $ 105,000 | $ 105,000 | $ 199,000 |
| Huntsville, AL | 1 | $ 245,000 | $ 245,000 | $ 467,000 |
| Kansas City, MO-KS | 1 | $ 125,000 | $ 125,000 | $ 76,000 |
| Macon-Bibb County, GA | 1 | $ 545,000 | $ 545,000 | $ 301,000 |
| Manchester-Nashua, NH | 1 | $ 405,000 | $ 405,000 | $ 124,000 |
| Memphis, TN-MS-AR | 1 | $ 105,000 | $ 105,000 | $ 107,000 |
| Mobile, AL | 1 | $ 145,000 | $ 145,000 | $ 39,000 |
| Morristown, TN | 1 | $ 1,275,000 | $ 1,275,000 | $ 361,000 |
| Norwich-New London, CT | 1 | $ 435,000 | $ 435,000 | $ 260,000 |
| Provo-Orem, UT | 1 | $ 735,000 | $ 735,000 | $ 640,000 |
| Reading, PA | 1 | $ 185,000 | $ 185,000 | $ 101,000 |
| Rockford, IL | 1 | $ 6,755,000 | $ 6,755,000 | $ 0 |
| Sacramento--Roseville--Arden-Arcade, CA | 1 | $ 245,000 | $ 245,000 | $ 130,000 |
| San Antonio-New Braunfels, TX | 1 | $ 345,000 | $ 345,000 | $ 0 |
| Santa Maria-Santa Barbara, CA | 1 | $ 485,000 | $ 485,000 | $ 78,000 |
| St. Louis, MO-IL | 1 | $ 655,000 | $ 655,000 | $ 0 |
| Syracuse, NY | 1 | $ 135,000 | $ 135,000 | $ 72,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 1 | $ 235,000 | $ 235,000 | $ 248,000 |
| Washington-Baltimore-Arlington, DC | 1 | $ 945,000 | $ 945,000 | $ 1,056,000 |
| Wilmington, NC | 1 | $ 245,000 | $ 245,000 | $ 62,000 |
| York-Hanover, PA | 1 | $ 85,000 | $ 85,000 | $ 80,000 |
Mortgage Loan Application Detail Totals for Valley National Bank in 2021
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 3,615 | $2,113,665,000 | $584,000 | $41,125,000 | $239,000 | $8,159,000 |
| Refinancing | 3,147 | $1,190,545,000 | $378,000 | $23,725,000 | $203,000 | $5,368,000 |
| Cash-out Refinancing | 2,549 | $1,782,880,000 | $699,000 | $62,005,000 | $218,000 | $5,586,000 |
| Home Improvement | 734 | $115,510,000 | $157,000 | $4,505,000 | $185,000 | $2,286,000 |
| Other Purpose | 369 | $267,895,000 | $726,000 | $75,005,000 | $242,000 | $1,923,000 |
| 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 | 6,168 | $2,547,040,000 | $412,000 | $17,005,000 | $238,000 | $8,159,000 |
| Not Provided | 1,174 | $463,130,000 | $394,000 | $6,045,000 | $242,000 | $5,500,000 |
| Hispanic | 1,149 | $364,385,000 | $317,000 | $2,975,000 | $147,000 | $2,595,000 |
| Asian | 683 | $287,835,000 | $421,000 | $2,605,000 | $200,000 | $5,586,000 |
| Black or African American | 628 | $211,690,000 | $337,000 | $2,605,000 | $159,000 | $3,084,000 |
| Not applicable | 530 | $1,562,185,000 | $2,953,000 | $75,005,000 | $77,000 | $442,000 |
| American Indian or Alaskan Native | 15 | $5,635,000 | $375,000 | $1,425,000 | $196,000 | $596,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $1,775,000 | $253,000 | $445,000 | $131,000 | $324,000 |
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) | 10,147 | $5,377,200,000 | $529,000 | $75,005,000 | $222,000 | $8,159,000 |
| FHA-insured (Federal Housing Administration) | 196 | $65,030,000 | $331,000 | $815,000 | $94,000 | $292,000 |
| VA-guaranteed (Veterans Administration) | 70 | $27,960,000 | $399,000 | $1,225,000 | $116,000 | $425,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $305,000 | $305,000 | $305,000 | $70,000 | $70,000 |
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 | 7,364 | $4,313,935,000 | $585,000 | $75,005,000 | $223,000 | $6,575,000 |
| Application Withdrawn By Applicant | 1,875 | $771,235,000 | $411,000 | $17,005,000 | $239,000 | $8,159,000 |
| Application Denied By Financial Institution | 511 | $163,075,000 | $319,000 | $2,605,000 | $136,000 | $1,369,000 |
| Application Approved But Not Accepted | 320 | $121,210,000 | $378,000 | $4,005,000 | $227,000 | $4,572,000 |
| Loan Purchased By The Institution | 237 | $60,715,000 | $256,000 | $505,000 | $82,000 | $540,000 |
| File Closed For Incompleteness | 107 | $40,325,000 | $376,000 | $2,005,000 | $245,000 | $2,013,000 |
| 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 | 9,903 | $5,307,420,000 | $535,000 | $75,005,000 | $223,000 | $8,159,000 |
| Debt-To-Income Ratio | 264 | $91,380,000 | $346,000 | $1,905,000 | $89,000 | $616,000 |
| Collateral | 124 | $33,320,000 | $268,000 | $1,805,000 | $198,000 | $1,102,000 |
| Credit History | 63 | $17,085,000 | $271,000 | $1,655,000 | $148,000 | $686,000 |
| Other | 35 | $9,615,000 | $274,000 | $2,305,000 | $188,000 | $1,369,000 |
| Credit Application Incomplete | 10 | $7,440,000 | $744,000 | $2,605,000 | $230,000 | $804,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 8 | $2,260,000 | $282,000 | $685,000 | $100,000 | $185,000 |
| Employment History | 4 | $710,000 | $177,000 | $315,000 | $63,000 | $108,000 |
| Unverifiable Information | 3 | $1,265,000 | $421,000 | $795,000 | $349,000 | $413,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Valley National Bank's 2021 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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with aggregated HMDA statistics today.
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