Westfield Bank F S B Mortgage Lending & HMDA Data, 2003
In 2003, Westfield Bank F S B of Westfield Center, OH reported 169 mortgage applications totaling $24.4 million. The average application was for $144,266, and applicants reported an average income of $76,147. 90% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Cleveland-Lorain-Elyria, OH (100), Akron, OH (12) and Cincinnati, OH-KY-IN (3) (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 | 169 |
| Total Mortgage Loan Application Amount | $24,381,000 |
| Average Mortgage Loan Application Amount | $144,266 |
| Highest Mortgage Loan Application Amount | $540,000 |
| Average Applicant Income | $76,147 |
| Highest Applicant Income | $400,000 |
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Act (HMDA) records Westfield Bank F S B filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cleveland-Lorain-Elyria, OH | 100 | $ 14,677,000 | $ 146,770 | $ 78,000 |
| Akron, OH | 12 | $ 1,631,000 | $ 135,916 | $ 56,000 |
| Cincinnati, OH-KY-IN | 3 | $ 392,000 | $ 130,666 | $ 81,000 |
| Columbus, OH | 2 | $ 257,000 | $ 128,500 | $ 153,000 |
| Wilmington-Newark, DE-MD | 2 | $ 477,000 | $ 238,500 | $ 71,000 |
| Canton-Massillon, OH | 1 | $ 70,000 | $ 70,000 | $ 58,000 |
| Cedar Rapids, IA | 1 | $ 74,000 | $ 74,000 | $ 75,000 |
| Chicago, IL | 1 | $ 170,000 | $ 170,000 | $ 47,000 |
| Jacksonville, FL | 1 | $ 122,000 | $ 122,000 | $ 41,000 |
| Lancaster, PA | 1 | $ 204,000 | $ 204,000 | $ 100,000 |
| Lansing-East Lansing, MI | 1 | $ 291,000 | $ 291,000 | $ 112,000 |
| Louisville, KY-IN | 1 | $ 135,000 | $ 135,000 | $ 87,000 |
| Mansfield, OH | 1 | $ 112,000 | $ 112,000 | $ 77,000 |
| Miami, FL | 1 | $ 308,000 | $ 308,000 | $ 162,000 |
| Nashville, TN | 1 | $ 109,000 | $ 109,000 | $ 85,000 |
| Peoria-Pekin, IL | 1 | $ 114,000 | $ 114,000 | $ 56,000 |
| Philadelphia, PA-NJ | 1 | $ 127,000 | $ 127,000 | $ 139,000 |
| Richmond-Petersburg, VA | 1 | $ 540,000 | $ 540,000 | $ 152,000 |
| Toledo, OH | 1 | $ 110,000 | $ 110,000 | $ 40,000 |
Mortgage Loan Application Detail Totals for Westfield Bank F S B in 2003
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 |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 118 | $15,305,000 | $172,000 | $323,000 | $94,000 | $400,000 |
| Home Purchase (one-to-four family) | 51 | $9,076,000 | $210,000 | $540,000 | $87,666 | $254,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement (one-to-four family) | 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 | 164 | $23,660,000 | $201,916 | $540,000 | $90,166 | $400,000 |
| Other | 2 | $545,000 | $272,000 | $304,000 | $156,000 | $187,000 |
| Hispanic | 2 | $90,000 | $45,000 | $72,000 | $26,000 | $26,000 |
| Black | 1 | $86,000 | $86,000 | $86,000 | $89,000 | $89,000 |
| Information not provided by applicant in mail or telephone application | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian or Pacific Islander | 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) | 166 | $24,104,000 | $202,083 | $540,000 | $90,500 | $400,000 |
| FHA-insured (Federal Housing Administration) | 2 | $159,000 | $79,000 | $86,000 | $57,000 | $89,000 |
| VA-guaranteed (Veterans Administration) | 1 | $118,000 | $118,000 | $118,000 | $39,000 | $39,000 |
| 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 | 152 | $22,380,000 | $210,636 | $540,000 | $91,363 | $400,000 |
| File Closed For Incompleteness | 7 | $922,000 | $131,000 | $304,000 | $97,000 | $187,000 |
| Application Denied By Financial Institution | 6 | $562,000 | $93,000 | $136,000 | $31,000 | $35,000 |
| Application Withdrawn By Applicant | 4 | $517,000 | $122,500 | $175,000 | $70,500 | $85,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 2 | $153,000 | $76,000 | $81,000 | $32,000 | $35,000 |
| Debt-To-Income Ratio | 2 | $251,000 | $125,000 | $136,000 | $30,000 | $31,000 |
| Employment History | 2 | $158,000 | $79,000 | $100,000 | $30,000 | $34,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Westfield Bank F S B's 2003 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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