Valley National Bank Mortgage Lending & HMDA Data, 2024
In 2024, Valley National Bank of Passaic, NJ reported 4,083 mortgage applications totaling $1.6 billion, down 15% from 2023. The average application was for $383,327, and applicants reported an average income of $250,304. 64% of its applications resulted in an originated loan and 17% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (1,148), Newark, NJ-PA (678) and Nassau County-Suffolk County, NY (394) (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 | 4,083 |
| Total Mortgage Loan Application Amount | $1,565,125,000 |
| Average Mortgage Loan Application Amount | $383,327 |
| Highest Mortgage Loan Application Amount | $27,005,000 |
| Average Applicant Income | $250,304 |
| Highest Applicant Income | $9,307,000 |
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Act (HMDA) records Valley National Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 1,148 | $ 523,540,000 | $ 456,045 | $ 203,637 |
| Newark, NJ-PA | 678 | $ 167,870,000 | $ 247,595 | $ 219,000 |
| Nassau County-Suffolk County, NY | 394 | $ 179,720,000 | $ 456,142 | $ 225,000 |
| Lakewood-New Brunswick, NJ | 391 | $ 126,275,000 | $ 322,953 | $ 232,000 |
| Tampa, FL | 174 | $ 89,680,000 | $ 515,402 | $ 417,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 131 | $ 51,725,000 | $ 394,847 | $ 374,000 |
| St. Petersburg-Clearwater-Largo, FL | 129 | $ 62,945,000 | $ 487,945 | $ 375,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 100 | $ 26,450,000 | $ 264,500 | $ 214,000 |
| Miami-Miami Beach-Kendall, FL | 84 | $ 37,490,000 | $ 446,309 | $ 291,000 |
| Kiryas Joel-Poughkeepsie-Newburgh, NY | 82 | $ 24,240,000 | $ 295,609 | $ 245,000 |
| Outside any metro area | 71 | $ 19,645,000 | $ 276,690 | $ 230,338 |
| Atlantic City-Hammonton, NJ | 64 | $ 43,980,000 | $ 687,187 | $ 515,000 |
| Orlando-Kissimmee-Sanford, FL | 56 | $ 14,320,000 | $ 255,714 | $ 265,000 |
| Jacksonville, FL | 55 | $ 13,045,000 | $ 237,181 | $ 162,000 |
| Naples-Immokalee-Marco Island, FL | 45 | $ 14,695,000 | $ 326,555 | $ 205,000 |
| Kingston, NY | 40 | $ 16,500,000 | $ 412,500 | $ 325,000 |
| Cape Coral-Fort Myers, FL | 38 | $ 10,790,000 | $ 283,947 | $ 431,000 |
| North Port-Sarasota-Bradenton, FL | 37 | $ 24,265,000 | $ 655,810 | $ 433,000 |
| Palm Bay-Melbourne-Titusville, FL | 36 | $ 6,160,000 | $ 171,111 | $ 89,000 |
| Birmingham-Hoover, AL | 33 | $ 7,475,000 | $ 226,515 | $ 124,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 32 | $ 5,660,000 | $ 176,875 | $ 130,031 |
| Montgomery, AL | 30 | $ 3,980,000 | $ 132,666 | $ 122,000 |
| Port St. Lucie, FL | 23 | $ 5,885,000 | $ 255,869 | $ 235,000 |
| Camden, NJ | 22 | $ 7,500,000 | $ 340,909 | $ 528,000 |
| Lakeland-Winter Haven, FL | 15 | $ 4,325,000 | $ 288,333 | $ 139,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 14 | $ 2,720,000 | $ 194,285 | $ 181,000 |
| Auburn-Opelika, AL | 11 | $ 2,205,000 | $ 200,454 | $ 109,000 |
| Trenton, NJ | 11 | $ 3,625,000 | $ 329,545 | $ 224,000 |
| Montgomery County-Bucks County-Chester County, PA | 8 | $ 2,320,000 | $ 290,000 | $ 153,000 |
| Sebastian-Vero Beach, FL | 8 | $ 2,360,000 | $ 295,000 | $ 193,000 |
| Bridgeport-Stamford-Norwalk, CT | 7 | $ 10,585,000 | $ 1,512,142 | $ 1,060,000 |
| Albany-Schenectady-Troy, NY | 6 | $ 1,600,000 | $ 266,666 | $ 112,000 |
| Philadelphia, PA | 6 | $ 1,900,000 | $ 316,666 | $ 484,000 |
| Atlanta-Sandy Springs-Roswell, GA | 5 | $ 1,495,000 | $ 299,000 | $ 189,000 |
| Rochester, NY | 5 | $ 845,000 | $ 169,000 | $ 108,000 |
| Cambridge-Newton-Framingham, MA | 4 | $ 720,000 | $ 180,000 | $ 438,000 |
| Ocala, FL | 4 | $ 1,930,000 | $ 482,500 | $ 86,000 |
| Wilmington, NC | 4 | $ 1,730,000 | $ 432,500 | $ 156,000 |
| Austin-Round Rock, TX | 3 | $ 1,235,000 | $ 411,666 | $ 177,000 |
| Charlotte-Concord-Gastonia, NC-SC | 3 | $ 1,795,000 | $ 598,333 | $ 566,000 |
| Los Angeles-Long Beach-Glendale, CA | 3 | $ 3,525,000 | $ 1,175,000 | $ 1,060,000 |
| Scranton--Wilkes-Barre--Hazleton, PA | 3 | $ 795,000 | $ 265,000 | $ 435,000 |
| Vineland-Bridgeton, NJ | 3 | $ 425,000 | $ 141,666 | $ 87,000 |
| Arlington-Alexandria-Reston, VA-WV | 2 | $ 610,000 | $ 305,000 | $ 208,000 |
| Crestview-Fort Walton Beach-Destin, FL | 2 | $ 880,000 | $ 440,000 | $ 283,000 |
| Gainesville, FL | 2 | $ 1,360,000 | $ 680,000 | $ 674,000 |
| Greenville-Anderson-Mauldin, SC | 2 | $ 1,680,000 | $ 840,000 | $ 2,008,000 |
| Hartford-West Hartford-East Hartford, CT | 2 | $ 570,000 | $ 285,000 | $ 237,000 |
| Homosassa Springs, FL | 2 | $ 480,000 | $ 240,000 | $ 248,000 |
| Indianapolis-Carmel-Anderson, IN | 2 | $ 960,000 | $ 480,000 | $ 252,000 |
| Lancaster, PA | 2 | $ 760,000 | $ 380,000 | $ 132,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 2 | $ 350,000 | $ 175,000 | $ 100,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 2 | $ 3,360,000 | $ 1,680,000 | $ 1,483,000 |
| Oakland-Hayward-Berkeley, CA | 2 | $ 1,470,000 | $ 735,000 | $ 1,041,000 |
| Panama City, FL | 2 | $ 590,000 | $ 295,000 | $ 292,000 |
| Raleigh, NC | 2 | $ 610,000 | $ 305,000 | $ 551,000 |
| Salisbury, MD-DE | 2 | $ 80,000 | $ 40,000 | $ 52,000 |
| San Diego-Carlsbad, CA | 2 | $ 2,100,000 | $ 1,050,000 | $ 662,000 |
| Tallahassee, FL | 2 | $ 1,340,000 | $ 670,000 | $ 987,000 |
| Tulsa, OK | 2 | $ 400,000 | $ 200,000 | $ 191,000 |
| Washington-Baltimore-Arlington, DC | 2 | $ 910,000 | $ 455,000 | $ 133,000 |
| Williamsport, PA | 2 | $ 550,000 | $ 275,000 | $ 119,000 |
| Albuquerque, NM | 1 | $ 205,000 | $ 205,000 | $ 120,000 |
| Anniston-Oxford-Jacksonville, AL | 1 | $ 385,000 | $ 385,000 | $ 133,000 |
| Asheville, NC | 1 | $ 625,000 | $ 625,000 | $ 702,000 |
| Baltimore-Columbia-Towson, MD | 1 | $ 355,000 | $ 355,000 | $ 325,000 |
| Boston, MA | 1 | $ 255,000 | $ 255,000 | $ 154,000 |
| Charleston-North Charleston, SC | 1 | $ 205,000 | $ 205,000 | $ 780,000 |
| Chicago-Naperville, IL | 1 | $ 545,000 | $ 545,000 | $ 280,000 |
| Cincinnati, OH-KY-IN | 1 | $ 425,000 | $ 425,000 | $ 201,000 |
| Columbus, GA-AL | 1 | $ 155,000 | $ 155,000 | $ 0 |
| Dallas-Plano-Irving, TX | 1 | $ 315,000 | $ 315,000 | $ 226,000 |
| Daphne-Fairhope-Foley, AL | 1 | $ 135,000 | $ 135,000 | $ 150,000 |
| Durham-Chapel Hill, NC | 1 | $ 455,000 | $ 455,000 | $ 104,000 |
| Fort Worth-Arlington, TX | 1 | $ 2,005,000 | $ 2,005,000 | $ 3,569,000 |
| Glens Falls, NY | 1 | $ 185,000 | $ 185,000 | $ 142,000 |
| Greensboro-High Point, NC | 1 | $ 205,000 | $ 205,000 | $ 154,000 |
| Houston-The Woodlands-Sugar Land, TX | 1 | $ 225,000 | $ 225,000 | $ 202,000 |
| Johnson City, TN | 1 | $ 5,505,000 | $ 5,505,000 | $ 0 |
| Marietta, GA | 1 | $ 135,000 | $ 135,000 | $ 278,000 |
| New Haven-Milford, CT | 1 | $ 395,000 | $ 395,000 | $ 212,000 |
| New Orleans-Metairie, LA | 1 | $ 305,000 | $ 305,000 | $ 147,000 |
| Reading, PA | 1 | $ 205,000 | $ 205,000 | $ 268,000 |
| Savannah, GA | 1 | $ 385,000 | $ 385,000 | $ 213,000 |
| St. George, UT | 1 | $ 455,000 | $ 455,000 | $ 512,000 |
| St. Louis, MO-IL | 1 | $ 325,000 | $ 325,000 | $ 125,000 |
| Washington, DC-MD | 1 | $ 295,000 | $ 295,000 | $ 94,000 |
| Waterbury-Shelton, CT | 1 | $ 175,000 | $ 175,000 | $ 67,000 |
| Wilmington, DE-MD-NJ | 1 | $ 535,000 | $ 535,000 | $ 1,607,000 |
| Winston-Salem, NC | 1 | $ 195,000 | $ 195,000 | $ 45,000 |
| Worcester, MA-CT | 1 | $ 505,000 | $ 505,000 | $ 183,000 |
Mortgage Loan Application Detail Totals for Valley National Bank in 2024
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 | 1,570 | $834,580,000 | $531,000 | $18,405,000 | $234,000 | $7,402,000 |
| Home Improvement | 1,186 | $217,350,000 | $183,000 | $2,505,000 | $222,000 | $5,596,000 |
| Other Purpose | 616 | $140,170,000 | $227,000 | $3,005,000 | $302,000 | $9,307,000 |
| Cash-out Refinancing | 606 | $191,770,000 | $316,000 | $4,005,000 | $275,000 | $5,596,000 |
| Refinancing | 105 | $181,255,000 | $1,726,000 | $27,005,000 | $368,000 | $3,569,000 |
| 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 | 2,196 | $758,490,000 | $345,000 | $4,205,000 | $289,000 | $9,307,000 |
| Hispanic | 592 | $156,540,000 | $264,000 | $2,005,000 | $167,000 | $2,224,000 |
| Not Provided | 567 | $192,265,000 | $339,000 | $4,005,000 | $275,000 | $4,464,000 |
| Asian | 351 | $142,295,000 | $405,000 | $2,005,000 | $232,000 | $3,930,000 |
| Not applicable | 182 | $263,070,000 | $1,445,000 | $27,005,000 | $93,000 | $417,000 |
| Black or African American | 176 | $47,720,000 | $271,000 | $1,435,000 | $131,000 | $474,000 |
| American Indian or Alaskan Native | 15 | $3,355,000 | $223,000 | $375,000 | $147,000 | $452,000 |
| Native Hawaiian or Other Pacific Islander | 4 | $1,390,000 | $347,000 | $555,000 | $147,000 | $180,000 |
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) | 4,011 | $1,536,145,000 | $382,000 | $27,005,000 | $252,000 | $9,307,000 |
| FHA-insured (Federal Housing Administration) | 58 | $24,250,000 | $418,000 | $1,125,000 | $124,000 | $328,000 |
| VA-guaranteed (Veterans Administration) | 12 | $4,490,000 | $374,000 | $575,000 | $131,000 | $280,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $240,000 | $120,000 | $185,000 | $39,000 | $60,000 |
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 | 2,613 | $1,097,405,000 | $419,000 | $27,005,000 | $274,000 | $9,307,000 |
| Application Denied By Financial Institution | 681 | $190,395,000 | $279,000 | $4,005,000 | $170,000 | $3,930,000 |
| Application Withdrawn By Applicant | 335 | $136,035,000 | $406,000 | $4,005,000 | $298,000 | $5,596,000 |
| Application Approved But Not Accepted | 212 | $76,860,000 | $362,000 | $4,595,000 | $272,000 | $1,864,000 |
| Loan Purchased By The Institution | 183 | $45,975,000 | $251,000 | $505,000 | $89,000 | $417,000 |
| File Closed For Incompleteness | 59 | $18,455,000 | $312,000 | $2,525,000 | $250,000 | $2,309,000 |
| 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 | 3,402 | $1,374,730,000 | $404,000 | $27,005,000 | $266,000 | $9,307,000 |
| Debt-To-Income Ratio | 479 | $132,165,000 | $275,000 | $4,005,000 | $134,000 | $1,123,000 |
| Collateral | 95 | $33,615,000 | $353,000 | $2,215,000 | $271,000 | $1,819,000 |
| Credit History | 45 | $7,065,000 | $157,000 | $1,035,000 | $188,000 | $827,000 |
| Other | 41 | $11,845,000 | $288,000 | $2,005,000 | $348,000 | $3,930,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 7 | $2,885,000 | $412,000 | $575,000 | $122,000 | $213,000 |
| Credit Application Incomplete | 7 | $1,285,000 | $183,000 | $505,000 | $248,000 | $580,000 |
| Unverifiable Information | 5 | $1,095,000 | $219,000 | $425,000 | $18,000 | $54,000 |
| Employment History | 2 | $440,000 | $220,000 | $375,000 | $42,000 | $46,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Valley National Bank's 2024 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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