Wepawaug-Flagg FCU Mortgage Lending & HMDA Data, 2004
In 2004, Wepawaug-Flagg FCU of Hamden, CT reported 64 mortgage applications totaling $2.9 million, down 54% from 2003. The average application was for $45,859, and applicants reported an average income of $59,000. 98% of its applications resulted in an originated loan and 2% were denied. Its largest markets were New Haven-Milford, CT (60), Bridgeport-Stamford-Norwalk, CT (2) and Hartford-West Hartford-East Hartford, CT (1) (applications in parentheses).
| Mortgage Company & Address | Wepawaug-Flagg FCU 105 Sanford St Hamden, CT 06514 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 64 |
| Total Mortgage Loan Application Amount | $2,935,000 |
| Average Mortgage Loan Application Amount | $45,859 |
| Highest Mortgage Loan Application Amount | $170,000 |
| Average Applicant Income | $59,000 |
| Highest Applicant Income | $180,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Wepawaug-Flagg FCU filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Haven-Milford, CT | 60 | $ 2,760,000 | $ 46,000 | $ 54,000 |
| Bridgeport-Stamford-Norwalk, CT | 2 | $ 112,000 | $ 56,000 | $ 114,000 |
| Hartford-West Hartford-East Hartford, CT | 1 | $ 38,000 | $ 38,000 | $ 52,000 |
| Norwich-New London, CT | 1 | $ 25,000 | $ 25,000 | $ 35,000 |
Mortgage Loan Application Detail Totals for Wepawaug-Flagg FCU in 2004
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 Improvement | 64 | $2,935,000 | $45,000 | $170,000 | $59,000 | $180,000 |
| Home Purchase | 0 | $0 | $0 | $0 | $0 | $0 |
| Refinancing | 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 | 55 | $2,687,000 | $48,000 | $170,000 | $62,000 | $180,000 |
| Black or African American | 8 | $223,000 | $27,000 | $40,000 | $66,000 | $137,000 |
| Hispanic | 1 | $25,000 | $25,000 | $25,000 | $39,000 | $39,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 64 | $2,935,000 | $45,000 | $170,000 | $59,000 | $180,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 63 | $2,910,000 | $46,000 | $170,000 | $65,000 | $180,000 |
| Application Denied By Financial Institution | 1 | $25,000 | $25,000 | $25,000 | $23,000 | $23,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 1 | $25,000 | $25,000 | $25,000 | $23,000 | $23,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Wepawaug-Flagg FCU's 2004 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 Wepawaug-Flagg FCU'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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