Washington Federal S&L Mortgage Lending & HMDA Data, 2008
In 2008, Washington Federal S&L of Seattle, WA reported 7,722 mortgage applications totaling $2.4 billion, up 13% from 2007. The average application was for $310,950, and applicants reported an average income of $159,680. 54% of its applications resulted in an originated loan and 22% were denied. Its largest markets were Seattle-Bellevue-Everett, WA (1,460), Portland-Vancouver-Beaverton, OR-WA (583) and Phoenix-Mesa-Scottsdale, AZ (481) (applications in parentheses).
| Mortgage Company & Address | Washington Federal S&L 425 Pike Street Seattle, WA 98101 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 | 7,722 |
| Total Mortgage Loan Application Amount | $2,401,160,000 |
| Average Mortgage Loan Application Amount | $310,950 |
| Highest Mortgage Loan Application Amount | $3,986,000 |
| Average Applicant Income | $159,680 |
| Highest Applicant Income | $8,640,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Washington Federal S&L filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Detail Totals for Washington Federal S&L in 2008
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 | 4,319 | $1,379,742,000 | $319,000 | $3,986,000 | $164,000 | $8,640,000 |
| Refinancing | 2,983 | $892,737,000 | $299,000 | $2,755,000 | $160,000 | $8,528,000 |
| Home Improvement | 420 | $128,681,000 | $306,000 | $2,995,000 | $113,000 | $1,063,000 |
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 | 6,053 | $1,880,740,000 | $310,000 | $2,995,000 | $174,000 | $8,528,000 |
| Hispanic | 483 | $110,408,000 | $228,000 | $2,786,000 | $91,000 | $1,223,000 |
| Not applicable | 358 | $130,846,000 | $365,000 | $3,986,000 | $0 | $0 |
| Not Provided | 349 | $128,542,000 | $368,000 | $3,656,000 | $183,000 | $2,387,000 |
| Asian | 316 | $102,269,000 | $323,000 | $1,387,000 | $134,000 | $1,767,000 |
| Black or African American | 95 | $31,374,000 | $330,000 | $2,286,000 | $211,000 | $8,640,000 |
| Native Hawaiian or Other Pacific Islander | 36 | $7,950,000 | $220,000 | $600,000 | $131,000 | $840,000 |
| American Indian or Alaskan Native | 32 | $9,031,000 | $282,000 | $1,365,000 | $93,000 | $598,000 |
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) | 7,701 | $2,398,467,000 | $311,000 | $3,986,000 | $160,000 | $8,640,000 |
| FHA-insured (Federal Housing Administration) | 9 | $871,000 | $96,000 | $159,000 | $47,000 | $92,000 |
| VA-guaranteed (Veterans Administration) | 9 | $1,450,000 | $161,000 | $220,000 | $69,000 | $95,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $372,000 | $124,000 | $137,000 | $38,000 | $41,000 |
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 | 4,168 | $1,185,028,000 | $284,000 | $3,986,000 | $143,000 | $8,640,000 |
| Application Denied By Financial Institution | 1,707 | $597,880,000 | $350,000 | $2,500,000 | $145,000 | $8,400,000 |
| Application Withdrawn By Applicant | 740 | $231,919,000 | $313,000 | $2,786,000 | $280,000 | $6,239,000 |
| File Closed For Incompleteness | 439 | $165,246,000 | $376,000 | $3,656,000 | $158,000 | $6,336,000 |
| Application Approved But Not Accepted | 293 | $99,307,000 | $338,000 | $1,000,000 | $217,000 | $4,830,000 |
| Preapproval Approved but not Accepted | 193 | $66,569,000 | $344,000 | $1,500,000 | $166,000 | $1,551,000 |
| Preapproval Denied by Financial Institution | 182 | $55,211,000 | $303,000 | $1,685,000 | $97,000 | $668,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 891 | $349,842,000 | $392,000 | $2,188,000 | $98,000 | $1,526,000 |
| Other | 306 | $100,646,000 | $328,000 | $1,800,000 | $251,000 | $5,202,000 |
| Credit History | 281 | $76,080,000 | $270,000 | $2,500,000 | $86,000 | $999,000 |
| Collateral | 242 | $71,594,000 | $295,000 | $1,820,000 | $182,000 | $2,228,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 89 | $31,495,000 | $353,000 | $1,500,000 | $214,000 | $8,400,000 |
| Employment History | 35 | $9,810,000 | $280,000 | $695,000 | $94,000 | $327,000 |
| Unverifiable Information | 29 | $9,406,000 | $324,000 | $900,000 | $344,000 | $2,099,000 |
| Credit Application Incomplete | 10 | $3,011,000 | $301,000 | $600,000 | $91,000 | $180,000 |
| Mortgage Insurance Denied | 6 | $1,207,000 | $201,000 | $326,000 | $72,000 | $152,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Washington Federal S&L's 2008 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 Washington Federal S&L'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 Washington, download the full spreadsheet
with aggregated HMDA statistics today.
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