Westfield Bank F S B Mortgage Lending & HMDA Data, 2007
In 2007, Westfield Bank F S B of Westfield Center, OH reported 485 mortgage applications totaling $78.5 million, down 9% from 2006. The average application was for $161,938, and applicants reported an average income of $95,886. 87% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Cleveland-Elyria-Mentor, OH (310), Akron, OH (51) and Canton-Massillon, OH (35) (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 | 485 |
| Total Mortgage Loan Application Amount | $78,540,000 |
| Average Mortgage Loan Application Amount | $161,938 |
| Highest Mortgage Loan Application Amount | $1,096,000 |
| Average Applicant Income | $95,886 |
| Highest Applicant Income | $675,000 |
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Act (HMDA) records Westfield Bank F S B filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Cuyahoga, Ohio | 161 | $ 22,274,000 | $ 138,347 | $ 86,000 |
| Medina, Ohio | 107 | $ 17,781,000 | $ 166,177 | $ 91,000 |
| Summit, Ohio | 46 | $ 10,041,000 | $ 218,282 | $ 134,000 |
| Stark, Ohio | 35 | $ 3,671,000 | $ 104,885 | $ 54,000 |
| Wayne, Ohio | 35 | $ 4,552,000 | $ 130,057 | $ 83,000 |
| Lorain, Ohio | 22 | $ 2,864,000 | $ 130,181 | $ 62,000 |
| Geauga, Ohio | 10 | $ 3,420,000 | $ 342,000 | $ 140,000 |
| Lake, Ohio | 10 | $ 1,433,000 | $ 143,300 | $ 71,000 |
| Erie, Ohio | 5 | $ 840,000 | $ 168,000 | $ 166,000 |
| Portage, Ohio | 5 | $ 1,329,000 | $ 265,800 | $ 121,000 |
| Ashtabula, Ohio | 4 | $ 478,000 | $ 119,500 | $ 121,000 |
| Lancaster, Pennsylvania | 3 | $ 481,000 | $ 160,333 | $ 101,000 |
| Mobile, Alabama | 2 | $ 417,000 | $ 208,500 | $ 222,000 |
| Montrose, Colorado | 2 | $ 190,000 | $ 95,000 | $ 422,000 |
| St. Johns, Florida | 2 | $ 694,000 | $ 347,000 | $ 268,000 |
| Wayne, Michigan | 2 | $ 396,000 | $ 198,000 | $ 116,000 |
| San Francisco, California | 1 | $ 650,000 | $ 650,000 | $ 482,000 |
| Denver, Colorado | 1 | $ 190,000 | $ 190,000 | $ 68,000 |
| Duval, Florida | 1 | $ 249,000 | $ 249,000 | $ 118,000 |
| Orange, Florida | 1 | $ 231,000 | $ 231,000 | $ 0 |
| Sarasota, Florida | 1 | $ 320,000 | $ 320,000 | $ 189,000 |
| Walton, Florida | 1 | $ 275,000 | $ 275,000 | $ 162,000 |
| Fulton, Georgia | 1 | $ 254,000 | $ 254,000 | $ 170,000 |
| Kane, Illinois | 1 | $ 380,000 | $ 380,000 | $ 109,000 |
| East Baton Rouge, Louisiana | 1 | $ 137,000 | $ 137,000 | $ 0 |
| Saginaw, Michigan | 1 | $ 180,000 | $ 180,000 | $ 131,000 |
| Clark, Nevada | 1 | $ 396,000 | $ 396,000 | $ 89,000 |
| Mecklenburg, North Carolina | 1 | $ 254,000 | $ 254,000 | $ 74,000 |
| Ashland, Ohio | 1 | $ 120,000 | $ 120,000 | $ 59,000 |
| Clermont, Ohio | 1 | $ 180,000 | $ 180,000 | $ 224,000 |
| Delaware, Ohio | 1 | $ 119,000 | $ 119,000 | $ 46,000 |
| Ottawa, Ohio | 1 | $ 58,000 | $ 58,000 | $ 43,000 |
| Richland, Ohio | 1 | $ 25,000 | $ 25,000 | $ 67,000 |
| Tuscarawas, Ohio | 1 | $ 72,000 | $ 72,000 | $ 33,000 |
| Allegheny, Pennsylvania | 1 | $ 125,000 | $ 125,000 | $ 168,000 |
| Butler, Pennsylvania | 1 | $ 220,000 | $ 220,000 | $ 77,000 |
| Chester, Pennsylvania | 1 | $ 500,000 | $ 500,000 | $ 173,000 |
| Union, Pennsylvania | 1 | $ 212,000 | $ 212,000 | $ 480,000 |
| York, Pennsylvania | 1 | $ 150,000 | $ 150,000 | $ 78,000 |
| Aiken, South Carolina | 1 | $ 400,000 | $ 400,000 | $ 155,000 |
| Horry, South Carolina | 1 | $ 127,000 | $ 127,000 | $ 158,000 |
| York, South Carolina | 1 | $ 764,000 | $ 764,000 | $ 230,000 |
| Henry, Tennessee | 1 | $ 168,000 | $ 168,000 | $ 97,000 |
| Sumner, Tennessee | 1 | $ 169,000 | $ 169,000 | $ 63,000 |
| Lewis, West Virginia | 1 | $ 88,000 | $ 88,000 | $ 78,000 |
| Preston, West Virginia | 1 | $ 113,000 | $ 113,000 | $ 26,000 |
| Putnam, West Virginia | 1 | $ 111,000 | $ 111,000 | $ 135,000 |
Mortgage Loan Application Detail Totals for Westfield Bank F S B in 2007
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 | 353 | $56,184,000 | $159,000 | $1,096,000 | $85,000 | $675,000 |
| Refinancing | 132 | $22,356,000 | $169,000 | $744,000 | $125,000 | $665,000 |
| 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 | 436 | $69,802,000 | $160,000 | $1,096,000 | $96,000 | $675,000 |
| Not Provided | 20 | $4,218,000 | $210,000 | $650,000 | $125,000 | $401,000 |
| Black or African American | 12 | $1,636,000 | $136,000 | $386,000 | $56,000 | $131,000 |
| Asian | 10 | $1,805,000 | $180,000 | $604,000 | $116,000 | $221,000 |
| Hispanic | 6 | $956,000 | $159,000 | $350,000 | $71,000 | $212,000 |
| American Indian or Alaskan Native | 1 | $123,000 | $123,000 | $123,000 | $36,000 | $36,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 470 | $76,459,000 | $162,000 | $1,096,000 | $97,000 | $675,000 |
| FHA-insured (Federal Housing Administration) | 10 | $1,394,000 | $139,000 | $208,000 | $58,000 | $75,000 |
| VA-guaranteed (Veterans Administration) | 5 | $687,000 | $137,000 | $188,000 | $54,000 | $82,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 420 | $68,233,000 | $162,000 | $1,096,000 | $98,000 | $675,000 |
| Application Approved But Not Accepted | 20 | $2,829,000 | $141,000 | $424,000 | $80,000 | $178,000 |
| Application Withdrawn By Applicant | 20 | $3,132,000 | $156,000 | $650,000 | $58,000 | $160,000 |
| Application Denied By Financial Institution | 19 | $3,463,000 | $182,000 | $744,000 | $94,000 | $482,000 |
| File Closed For Incompleteness | 6 | $883,000 | $147,000 | $212,000 | $150,000 | $262,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 6 | $1,501,000 | $250,000 | $744,000 | $93,000 | $241,000 |
| Credit History | 6 | $671,000 | $111,000 | $238,000 | $64,000 | $158,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $873,000 | $218,000 | $650,000 | $165,000 | $482,000 |
| Credit Application Incomplete | 2 | $248,000 | $124,000 | $140,000 | $29,000 | $59,000 |
| Employment History | 1 | $170,000 | $170,000 | $170,000 | $125,000 | $125,000 |
| Debt-To-Income Ratio | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Westfield Bank F S B's 2007 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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