Westfield Bank F S B Mortgage Lending & HMDA Data, 2004
In 2004, Westfield Bank F S B of Westfield Center, OH reported 318 mortgage applications totaling $44.9 million, up 88% from 2003. The average application was for $141,238, and applicants reported an average income of $85,864. 80% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Cleveland-Elyria-Mentor, OH (125), Akron, OH (54) and Canton-Massillon, OH (37) (applications in parentheses).
| Mortgage Company & Address | Westfield Bank F S B Two Park Circle Westfield Center, OH 44251 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 | 318 |
| Total Mortgage Loan Application Amount | $44,914,000 |
| Average Mortgage Loan Application Amount | $141,238 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $85,864 |
| Highest Applicant Income | $936,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Westfield Bank F S B filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Medina, Ohio | 54 | $ 8,957,000 | $ 165,870 | $ 97,000 |
| Summit, Ohio | 51 | $ 7,148,000 | $ 140,156 | $ 130,000 |
| Cuyahoga, Ohio | 48 | $ 5,920,000 | $ 123,333 | $ 61,000 |
| Stark, Ohio | 37 | $ 3,970,000 | $ 107,297 | $ 57,000 |
| Lorain, Ohio | 17 | $ 1,295,000 | $ 76,176 | $ 48,000 |
| Ashland, Ohio | 11 | $ 842,000 | $ 76,545 | $ 41,000 |
| Wayne, Ohio | 7 | $ 937,000 | $ 133,857 | $ 86,000 |
| Lancaster, Pennsylvania | 4 | $ 576,000 | $ 144,000 | $ 60,000 |
| Kenton, Kentucky | 3 | $ 298,000 | $ 99,333 | $ 73,000 |
| Franklin, Ohio | 3 | $ 401,000 | $ 133,666 | $ 109,000 |
| Geauga, Ohio | 3 | $ 1,114,000 | $ 371,333 | $ 235,000 |
| Lake, Ohio | 3 | $ 777,000 | $ 259,000 | $ 123,000 |
| Portage, Ohio | 3 | $ 389,000 | $ 129,666 | $ 97,000 |
| York, Pennsylvania | 3 | $ 217,000 | $ 72,333 | $ 35,000 |
| Pulaski, Arkansas | 2 | $ 234,000 | $ 117,000 | $ 101,000 |
| Gwinnett, Georgia | 2 | $ 250,000 | $ 125,000 | $ 54,000 |
| Huron, Ohio | 2 | $ 165,000 | $ 82,500 | $ 61,000 |
| Lucas, Ohio | 2 | $ 219,000 | $ 109,500 | $ 62,000 |
| Van Wert, Ohio | 2 | $ 140,000 | $ 70,000 | $ 60,000 |
| Rusk, Wisconsin | 2 | $ 86,000 | $ 43,000 | $ 30,000 |
| Maricopa, Arizona | 1 | $ 334,000 | $ 334,000 | $ 105,000 |
| El Dorado, California | 1 | $ 458,000 | $ 458,000 | $ 634,000 |
| Clay, Florida | 1 | $ 203,000 | $ 203,000 | $ 70,000 |
| Lee, Florida | 1 | $ 237,000 | $ 237,000 | $ 145,000 |
| Palm Beach, Florida | 1 | $ 213,000 | $ 213,000 | $ 55,000 |
| Sarasota, Florida | 1 | $ 470,000 | $ 470,000 | $ 286,000 |
| St. Joseph, Indiana | 1 | $ 179,000 | $ 179,000 | $ 96,000 |
| Wabash, Indiana | 1 | $ 144,000 | $ 144,000 | $ 68,000 |
| Simpson, Kentucky | 1 | $ 108,000 | $ 108,000 | $ 52,000 |
| St. Tammany, Louisiana | 1 | $ 163,000 | $ 163,000 | $ 88,000 |
| Baltimore, Maryland | 1 | $ 148,000 | $ 148,000 | $ 110,000 |
| Charlevoix, Michigan | 1 | $ 300,000 | $ 300,000 | $ 156,000 |
| Wayne, Michigan | 1 | $ 102,000 | $ 102,000 | $ 84,000 |
| Clark, Nevada | 1 | $ 400,000 | $ 400,000 | $ 120,000 |
| Bergen, New Jersey | 1 | $ 210,000 | $ 210,000 | $ 120,000 |
| Kings, New York | 1 | $ 80,000 | $ 80,000 | $ 40,000 |
| Ashtabula, Ohio | 1 | $ 120,000 | $ 120,000 | $ 65,000 |
| Athens, Ohio | 1 | $ 45,000 | $ 45,000 | $ 14,000 |
| Butler, Ohio | 1 | $ 242,000 | $ 242,000 | $ 150,000 |
| Defiance, Ohio | 1 | $ 55,000 | $ 55,000 | $ 35,000 |
| Erie, Ohio | 1 | $ 164,000 | $ 164,000 | $ 84,000 |
| Miami, Ohio | 1 | $ 285,000 | $ 285,000 | $ 103,000 |
| Montgomery, Ohio | 1 | $ 65,000 | $ 65,000 | $ 52,000 |
| Ottawa, Ohio | 1 | $ 279,000 | $ 279,000 | $ 198,000 |
| Richland, Ohio | 1 | $ 88,000 | $ 88,000 | $ 63,000 |
| Trumbull, Ohio | 1 | $ 61,000 | $ 61,000 | $ 95,000 |
| Wood, Ohio | 1 | $ 220,000 | $ 220,000 | $ 78,000 |
| Allegheny, Pennsylvania | 1 | $ 320,000 | $ 320,000 | $ 157,000 |
| Beaver, Pennsylvania | 1 | $ 86,000 | $ 86,000 | $ 42,000 |
| Centre, Pennsylvania | 1 | $ 56,000 | $ 56,000 | $ 399,000 |
| Chester, Pennsylvania | 1 | $ 211,000 | $ 211,000 | $ 75,000 |
| Newport, Rhode Island | 1 | $ 1,000,000 | $ 1,000,000 | $ 594,000 |
| Knox, Tennessee | 1 | $ 142,000 | $ 142,000 | $ 58,000 |
| Colorado, Texas | 1 | $ 180,000 | $ 180,000 | $ 60,000 |
| Alexandria, Virginia | 1 | $ 308,000 | $ 308,000 | $ 315,000 |
| Loudoun, Virginia | 1 | $ 184,000 | $ 184,000 | $ 82,000 |
| Putnam, West Virginia | 1 | $ 170,000 | $ 170,000 | $ 91,000 |
Mortgage Loan Application Detail Totals for Westfield Bank F S B 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 Purchase | 223 | $30,530,000 | $197,888 | $713,000 | $127,222 | $936,000 |
| Refinancing | 95 | $14,384,000 | $237,583 | $1,000,000 | $136,250 | $594,000 |
| Home Improvement | 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 | 230 | $34,246,000 | $238,055 | $1,000,000 | $151,888 | $936,000 |
| Not Provided | 71 | $8,995,000 | $169,777 | $400,000 | $78,333 | $259,000 |
| Black or African American | 8 | $837,000 | $104,000 | $174,000 | $49,000 | $68,000 |
| Hispanic | 6 | $450,000 | $75,000 | $116,000 | $68,000 | $81,000 |
| Asian | 2 | $327,000 | $163,000 | $225,000 | $74,000 | $120,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $59,000 | $59,000 | $59,000 | $34,000 | $34,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 285 | $41,426,000 | $226,913 | $1,000,000 | $137,043 | $936,000 |
| FHA-insured (Federal Housing Administration) | 23 | $2,305,000 | $100,000 | $158,000 | $40,000 | $96,000 |
| VA-guaranteed (Veterans Administration) | 9 | $1,061,000 | $117,000 | $200,000 | $49,000 | $83,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $122,000 | $122,000 | $122,000 | $46,000 | $46,000 |
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 | 253 | $36,669,000 | $243,700 | $1,000,000 | $155,350 | $936,000 |
| Application Withdrawn By Applicant | 46 | $6,394,000 | $154,833 | $355,000 | $67,833 | $198,000 |
| Application Denied By Financial Institution | 19 | $1,851,000 | $101,666 | $225,000 | $64,000 | $168,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Credit History | 11 | $1,049,000 | $95,000 | $225,000 | $54,000 | $168,000 |
| Other | 3 | $378,000 | $126,000 | $180,000 | $50,000 | $60,000 |
| Collateral | 2 | $209,000 | $104,500 | $107,000 | $69,000 | $84,000 |
| Debt-To-Income Ratio | 2 | $105,000 | $52,000 | $80,000 | $39,000 | $39,000 |
| Credit Application Incomplete | 1 | $110,000 | $110,000 | $110,000 | $70,000 | $70,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Westfield Bank F S B'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 Westfield Bank F S B'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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