Valley National Bank Mortgage Lending & HMDA Data, 2022
In 2022, Valley National Bank of Passaic, NJ reported 8,579 mortgage applications totaling $5.9 billion, down 18% from 2021. The average application was for $685,219, and applicants reported an average income of $252,665. 66% of its applications resulted in an originated loan and 8% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (2,348), Newark, NJ-PA (1,409) and New York-Newark, NY (1,114) (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 | 8,579 |
| Total Mortgage Loan Application Amount | $5,878,500,000 |
| Average Mortgage Loan Application Amount | $685,219 |
| Highest Mortgage Loan Application Amount | $70,005,000 |
| Average Applicant Income | $252,665 |
| Highest Applicant Income | $8,990,000 |
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Act (HMDA) records Valley National Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 2,348 | $ 1,742,625,000 | $ 742,174 | $ 224,815 |
| Newark, NJ-PA | 1,409 | $ 578,245,000 | $ 410,393 | $ 190,753 |
| New York-Newark, NY | 1,114 | $ 635,450,000 | $ 570,421 | $ 253,351 |
| Nassau County-Suffolk County, NY | 686 | $ 416,510,000 | $ 607,157 | $ 269,000 |
| Tampa-St. Petersburg-Clearwater, FL | 607 | $ 428,805,000 | $ 706,433 | $ 422,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 247 | $ 165,895,000 | $ 671,639 | $ 468,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 222 | $ 107,220,000 | $ 482,972 | $ 210,000 |
| Miami-Miami Beach-Kendall, FL | 209 | $ 137,805,000 | $ 659,354 | $ 305,000 |
| Cape Coral-Fort Myers, FL | 147 | $ 37,605,000 | $ 255,816 | $ 169,000 |
| Orlando-Kissimmee-Sanford, FL | 145 | $ 58,645,000 | $ 404,448 | $ 241,000 |
| Outside any metro area | 144 | $ 84,300,000 | $ 585,416 | $ 266,338 |
| Naples-Immokalee-Marco Island, FL | 133 | $ 88,345,000 | $ 664,248 | $ 329,000 |
| Ocean City, NJ | 130 | $ 95,180,000 | $ 732,153 | $ 454,000 |
| Palm Bay-Melbourne-Titusville, FL | 109 | $ 55,955,000 | $ 513,348 | $ 115,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 97 | $ 50,095,000 | $ 516,443 | $ 123,556 |
| North Port-Sarasota-Bradenton, FL | 66 | $ 37,310,000 | $ 565,303 | $ 273,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 55 | $ 15,135,000 | $ 275,181 | $ 192,000 |
| Jacksonville, FL | 50 | $ 43,710,000 | $ 874,200 | $ 270,000 |
| Atlantic City-Hammonton, NJ | 45 | $ 18,495,000 | $ 411,000 | $ 207,000 |
| Montgomery, AL | 42 | $ 8,090,000 | $ 192,619 | $ 119,000 |
| Auburn-Opelika, AL | 39 | $ 8,925,000 | $ 228,846 | $ 76,000 |
| Camden, NJ | 37 | $ 83,035,000 | $ 2,244,189 | $ 181,000 |
| Trenton, NJ | 35 | $ 11,415,000 | $ 326,142 | $ 233,000 |
| Lakeland-Winter Haven, FL | 34 | $ 7,840,000 | $ 230,588 | $ 141,000 |
| Port St. Lucie, FL | 31 | $ 14,075,000 | $ 454,032 | $ 267,000 |
| Birmingham-Hoover, AL | 30 | $ 8,350,000 | $ 278,333 | $ 164,000 |
| Montgomery County-Bucks County-Chester County, PA | 29 | $ 150,235,000 | $ 5,180,517 | $ 377,000 |
| Kingston, NY | 26 | $ 10,060,000 | $ 386,923 | $ 198,000 |
| Bridgeport-Stamford-Norwalk, CT | 25 | $ 17,325,000 | $ 693,000 | $ 295,000 |
| Sebastian-Vero Beach, FL | 23 | $ 5,885,000 | $ 255,869 | $ 100,000 |
| Chicago-Naperville, IL | 14 | $ 99,160,000 | $ 7,082,857 | $ 469,000 |
| New Haven-Milford, CT | 14 | $ 11,230,000 | $ 802,142 | $ 292,000 |
| East Stroudsburg, PA | 11 | $ 1,765,000 | $ 160,454 | $ 266,000 |
| Los Angeles-Long Beach-Glendale, CA | 11 | $ 76,825,000 | $ 6,984,090 | $ 840,000 |
| Philadelphia, PA | 11 | $ 101,485,000 | $ 9,225,909 | $ 490,000 |
| Charleston-North Charleston, SC | 10 | $ 6,750,000 | $ 675,000 | $ 558,000 |
| Atlanta-Sandy Springs-Roswell, GA | 9 | $ 5,065,000 | $ 562,777 | $ 165,000 |
| Gainesville, FL | 9 | $ 5,875,000 | $ 652,777 | $ 186,000 |
| Rochester, NY | 8 | $ 3,010,000 | $ 376,250 | $ 101,000 |
| Ocala, FL | 7 | $ 4,595,000 | $ 656,428 | $ 708,000 |
| Punta Gorda, FL | 7 | $ 2,445,000 | $ 349,285 | $ 199,000 |
| Hartford-West Hartford-East Hartford, CT | 6 | $ 2,570,000 | $ 428,333 | $ 166,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 6 | $ 2,250,000 | $ 375,000 | $ 158,000 |
| Salisbury, MD-DE | 6 | $ 2,310,000 | $ 385,000 | $ 143,000 |
| Albany-Schenectady-Troy, NY | 5 | $ 7,315,000 | $ 1,463,000 | $ 80,000 |
| Asheville, NC | 5 | $ 3,635,000 | $ 727,000 | $ 241,000 |
| Crestview-Fort Walton Beach-Destin, FL | 5 | $ 2,715,000 | $ 543,000 | $ 527,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 5 | $ 3,825,000 | $ 765,000 | $ 319,200 |
| Boston, MA | 4 | $ 1,300,000 | $ 325,000 | $ 395,000 |
| Greenville-Anderson-Mauldin, SC | 4 | $ 5,850,000 | $ 1,462,500 | $ 234,000 |
| Homosassa Springs, FL | 4 | $ 1,570,000 | $ 392,500 | $ 165,000 |
| Houston-The Woodlands-Sugar Land, TX | 4 | $ 2,890,000 | $ 722,500 | $ 1,135,000 |
| Raleigh, NC | 4 | $ 1,430,000 | $ 357,500 | $ 303,000 |
| Savannah, GA | 4 | $ 3,050,000 | $ 762,500 | $ 290,000 |
| The Villages, FL | 4 | $ 1,120,000 | $ 280,000 | $ 157,000 |
| Wilmington, DE-MD-NJ | 4 | $ 30,810,000 | $ 7,702,500 | $ 0 |
| Baltimore-Columbia-Towson, MD | 3 | $ 2,395,000 | $ 798,333 | $ 536,000 |
| Buffalo-Cheektowaga-Niagara Falls, NY | 3 | $ 685,000 | $ 228,333 | $ 109,000 |
| Colorado Springs, CO | 3 | $ 1,185,000 | $ 395,000 | $ 115,000 |
| Columbus, GA-AL | 3 | $ 515,000 | $ 171,666 | $ 76,000 |
| Glens Falls, NY | 3 | $ 2,795,000 | $ 931,666 | $ 865,000 |
| Hilton Head Island-Bluffton-Beaufort, SC | 3 | $ 1,645,000 | $ 548,333 | $ 138,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 3 | $ 22,345,000 | $ 7,448,333 | $ 1,511,000 |
| Pensacola-Ferry Pass-Brent, FL | 3 | $ 2,765,000 | $ 921,666 | $ 304,000 |
| Washington-Baltimore-Arlington, DC | 3 | $ 2,935,000 | $ 978,333 | $ 387,000 |
| Austin-Round Rock, TX | 2 | $ 990,000 | $ 495,000 | $ 295,000 |
| Cambridge-Newton-Framingham, MA | 2 | $ 1,120,000 | $ 560,000 | $ 316,000 |
| Daphne-Fairhope-Foley, AL | 2 | $ 3,070,000 | $ 1,535,000 | $ 59,000 |
| Denver-Aurora-Lakewood, CO | 2 | $ 1,220,000 | $ 610,000 | $ 361,000 |
| Jackson, MS | 2 | $ 44,510,000 | $ 22,255,000 | $ 0 |
| Pittsburgh, PA | 2 | $ 36,170,000 | $ 18,085,000 | $ 69,000 |
| Prescott Valley-Prescott, AZ | 2 | $ 2,130,000 | $ 1,065,000 | $ 438,000 |
| San Antonio-New Braunfels, TX | 2 | $ 620,000 | $ 310,000 | $ 100,000 |
| Santa Fe, NM | 2 | $ 1,380,000 | $ 690,000 | $ 392,000 |
| Sebring, FL | 2 | $ 3,480,000 | $ 1,740,000 | $ 698,000 |
| Shreveport-Bossier City, LA | 2 | $ 35,010,000 | $ 17,505,000 | $ 0 |
| Tallahassee, FL | 2 | $ 130,000 | $ 65,000 | $ 260,000 |
| Baton Rouge, LA | 1 | $ 255,000 | $ 255,000 | $ 60,000 |
| Bellingham, WA | 1 | $ 865,000 | $ 865,000 | $ 212,000 |
| Bowling Green, KY | 1 | $ 3,255,000 | $ 3,255,000 | $ 0 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 85,000 | $ 85,000 | $ 65,000 |
| Cincinnati, OH-KY-IN | 1 | $ 305,000 | $ 305,000 | $ 142,000 |
| Columbus, OH | 1 | $ 225,000 | $ 225,000 | $ 139,000 |
| Durham-Chapel Hill, NC | 1 | $ 3,365,000 | $ 3,365,000 | $ 743,000 |
| Gadsden, AL | 1 | $ 105,000 | $ 105,000 | $ 45,000 |
| Gettysburg, PA | 1 | $ 2,625,000 | $ 2,625,000 | $ 0 |
| Grand Rapids-Wyoming, MI | 1 | $ 9,005,000 | $ 9,005,000 | $ 0 |
| Harrisburg-Carlisle, PA | 1 | $ 61,005,000 | $ 61,005,000 | $ 0 |
| Lansing-East Lansing, MI | 1 | $ 28,805,000 | $ 28,805,000 | $ 0 |
| Las Vegas-Henderson-Paradise, NV | 1 | $ 285,000 | $ 285,000 | $ 168,000 |
| Macon-Bibb County, GA | 1 | $ 325,000 | $ 325,000 | $ 192,000 |
| Manchester-Nashua, NH | 1 | $ 205,000 | $ 205,000 | $ 148,000 |
| Memphis, TN-MS-AR | 1 | $ 13,505,000 | $ 13,505,000 | $ 0 |
| Morristown, TN | 1 | $ 305,000 | $ 305,000 | $ 446,000 |
| Norwich-New London, CT | 1 | $ 535,000 | $ 535,000 | $ 130,000 |
| Oakland-Hayward-Berkeley, CA | 1 | $ 2,545,000 | $ 2,545,000 | $ 585,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 195,000 | $ 195,000 | $ 148,000 |
| Panama City, FL | 1 | $ 11,805,000 | $ 11,805,000 | $ 0 |
| Portland-South Portland, ME | 1 | $ 385,000 | $ 385,000 | $ 144,000 |
| Reading, PA | 1 | $ 205,000 | $ 205,000 | $ 96,000 |
| Reno, NV | 1 | $ 755,000 | $ 755,000 | $ 451,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 6,535,000 | $ 6,535,000 | $ 0 |
| San Diego-Carlsbad, CA | 1 | $ 6,205,000 | $ 6,205,000 | $ 0 |
| San Francisco-Redwood City-South San Francisco, CA | 1 | $ 4,425,000 | $ 4,425,000 | $ 2,234,000 |
| San Rafael, CA | 1 | $ 1,805,000 | $ 1,805,000 | $ 424,000 |
| Santa Maria-Santa Barbara, CA | 1 | $ 355,000 | $ 355,000 | $ 236,000 |
| Santa Rosa, CA | 1 | $ 22,255,000 | $ 22,255,000 | $ 0 |
| Scranton--Wilkes-Barre--Hazleton, PA | 1 | $ 55,000 | $ 55,000 | $ 60,000 |
| Seattle-Bellevue-Everett, WA | 1 | $ 405,000 | $ 405,000 | $ 105,000 |
| Warren-Troy-Farmington Hills, MI | 1 | $ 15,005,000 | $ 15,005,000 | $ 0 |
Mortgage Loan Application Detail Totals for Valley National Bank in 2022
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 | 3,243 | $2,537,075,000 | $782,000 | $60,005,000 | $267,000 | $8,990,000 |
| Cash-out Refinancing | 2,108 | $2,007,175,000 | $952,000 | $61,005,000 | $244,000 | $6,624,000 |
| Home Improvement | 1,801 | $289,025,000 | $160,000 | $6,005,000 | $210,000 | $5,475,000 |
| Other Purpose | 783 | $623,035,000 | $795,000 | $70,005,000 | $326,000 | $4,827,000 |
| Refinancing | 644 | $422,190,000 | $655,000 | $28,005,000 | $239,000 | $2,893,000 |
| 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 | 5,120 | $2,120,870,000 | $414,000 | $10,005,000 | $279,000 | $8,990,000 |
| Hispanic | 1,036 | $320,560,000 | $309,000 | $3,505,000 | $159,000 | $2,052,000 |
| Not Provided | 817 | $356,505,000 | $436,000 | $11,505,000 | $292,000 | $8,900,000 |
| Asian | 640 | $315,530,000 | $493,000 | $8,005,000 | $264,000 | $3,568,000 |
| Not applicable | 500 | $2,624,005,000 | $5,258,000 | $70,005,000 | $74,000 | $284,000 |
| Black or African American | 413 | $122,945,000 | $297,000 | $2,005,000 | $142,000 | $1,205,000 |
| American Indian or Alaskan Native | 15 | $4,475,000 | $298,000 | $845,000 | $150,000 | $379,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $1,330,000 | $665,000 | $1,125,000 | $204,000 | $307,000 |
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) | 8,447 | $5,827,270,000 | $689,000 | $70,005,000 | $255,000 | $8,990,000 |
| FHA-insured (Federal Housing Administration) | 112 | $45,320,000 | $404,000 | $965,000 | $114,000 | $418,000 |
| VA-guaranteed (Veterans Administration) | 14 | $4,760,000 | $340,000 | $555,000 | $104,000 | $177,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 6 | $1,150,000 | $191,000 | $255,000 | $79,000 | $135,000 |
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 | 5,649 | $4,643,640,000 | $822,000 | $70,005,000 | $263,000 | $5,095,000 |
| Application Withdrawn By Applicant | 1,657 | $786,285,000 | $474,000 | $60,005,000 | $264,000 | $8,900,000 |
| Application Denied By Financial Institution | 688 | $207,690,000 | $301,000 | $4,005,000 | $168,000 | $5,475,000 |
| Application Approved But Not Accepted | 345 | $169,715,000 | $491,000 | $26,505,000 | $275,000 | $3,191,000 |
| Loan Purchased By The Institution | 181 | $41,165,000 | $227,000 | $465,000 | $74,000 | $325,000 |
| File Closed For Incompleteness | 58 | $29,240,000 | $504,000 | $3,505,000 | $397,000 | $8,990,000 |
| Preapproval Approved but not Accepted | 1 | $765,000 | $765,000 | $765,000 | $274,000 | $274,000 |
| 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 | 7,891 | $5,670,810,000 | $718,000 | $70,005,000 | $260,000 | $8,990,000 |
| Debt-To-Income Ratio | 374 | $120,510,000 | $322,000 | $4,005,000 | $102,000 | $684,000 |
| Collateral | 120 | $37,300,000 | $310,000 | $3,205,000 | $315,000 | $5,475,000 |
| Credit History | 89 | $15,865,000 | $178,000 | $1,335,000 | $198,000 | $3,600,000 |
| Other | 53 | $15,565,000 | $293,000 | $1,005,000 | $244,000 | $2,283,000 |
| Credit Application Incomplete | 40 | $14,610,000 | $365,000 | $2,485,000 | $172,000 | $580,000 |
| Employment History | 6 | $1,860,000 | $310,000 | $765,000 | $99,000 | $217,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $1,895,000 | $379,000 | $935,000 | $133,000 | $254,000 |
| Unverifiable Information | 1 | $85,000 | $85,000 | $85,000 | $164,000 | $164,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Valley National Bank's 2022 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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