Xcel Federal Credit Union Mortgage Lending & HMDA Data, 2016
In 2016, Xcel Federal Credit Union of Bloomfield, NJ reported 148 mortgage applications totaling $24.4 million. The average application was for $164,824, and applicants reported an average income of $112,033. 53% of its applications resulted in an originated loan and 28% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (88), Newark, NJ-PA (27) and Nassau County-Suffolk County, NY (8) (applications in parentheses).
| Mortgage Company & Address | Xcel Federal Credit Union 1460 Broad Street Bloomfield, NJ 07003 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 148 |
| Total Mortgage Loan Application Amount | $24,394,000 |
| Average Mortgage Loan Application Amount | $164,824 |
| Highest Mortgage Loan Application Amount | $616,000 |
| Average Applicant Income | $112,033 |
| Highest Applicant Income | $951,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Xcel Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 York-Jersey City-White Plains, NY-NJ | 88 | $ 14,439,000 | $ 164,079 | $ 104,806 |
| Newark, NJ-PA | 27 | $ 4,200,000 | $ 155,555 | $ 106,000 |
| Nassau County-Suffolk County, NY | 8 | $ 2,451,000 | $ 306,375 | $ 136,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 2 | $ 185,000 | $ 92,500 | $ 118,500 |
| Trenton, NJ | 2 | $ 114,000 | $ 57,000 | $ 540,000 |
| Atlanta-Sandy Springs-Roswell, GA | 1 | $ 90,000 | $ 90,000 | $ 34,000 |
| Atlantic City-Hammonton, NJ | 1 | $ 75,000 | $ 75,000 | $ 108,000 |
| Burlington-South Burlington, VT | 1 | $ 135,000 | $ 135,000 | $ 111,000 |
| Cambridge-Newton-Framingham, MA | 1 | $ 332,000 | $ 332,000 | $ 80,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 1 | $ 60,000 | $ 60,000 | $ 68,000 |
| Greensboro-High Point, NC | 1 | $ 25,000 | $ 25,000 | $ 92,000 |
| Hartford-West Hartford-East Hartford, CT | 1 | $ 10,000 | $ 10,000 | $ 120,000 |
| Miami-Miami Beach-Kendall, FL | 1 | $ 250,000 | $ 250,000 | $ 224,000 |
| Montgomery County-Bucks County-Chester County, PA | 1 | $ 375,000 | $ 375,000 | $ 207,000 |
| Naples-Immokalee-Marco Island, FL | 1 | $ 15,000 | $ 15,000 | $ 97,000 |
| Pittsburgh, PA | 1 | $ 20,000 | $ 20,000 | $ 28,000 |
| Port St. Lucie, FL | 1 | $ 188,000 | $ 188,000 | $ 289,000 |
| Raleigh, NC | 1 | $ 198,000 | $ 198,000 | $ 99,000 |
| St. Louis, MO-IL | 1 | $ 68,000 | $ 68,000 | $ 42,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 1 | $ 100,000 | $ 100,000 | $ 130,000 |
Mortgage Loan Application Detail Totals for Xcel Federal Credit Union in 2016
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 | 82 | $6,138,000 | $74,000 | $350,000 | $108,000 | $951,000 |
| Home Purchase | 35 | $9,954,000 | $284,000 | $616,000 | $110,000 | $289,000 |
| Refinancing | 31 | $8,302,000 | $267,000 | $590,000 | $125,000 | $329,000 |
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 |
|---|---|---|---|---|---|---|
| Not Provided | 58 | $4,577,000 | $78,000 | $350,000 | $105,000 | $951,000 |
| White | 41 | $10,798,000 | $263,000 | $616,000 | $130,000 | $329,000 |
| Black or African American | 25 | $3,880,000 | $155,000 | $391,000 | $86,000 | $230,000 |
| Hispanic | 18 | $3,746,000 | $208,000 | $569,000 | $116,000 | $224,000 |
| Asian | 4 | $1,233,000 | $308,000 | $540,000 | $122,000 | $136,000 |
| American Indian or Alaskan Native | 1 | $125,000 | $125,000 | $125,000 | $108,000 | $108,000 |
| Native Hawaiin or Other Pacific Islander | 1 | $35,000 | $35,000 | $35,000 | $393,000 | $393,000 |
| 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) | 147 | $23,841,000 | $162,000 | $616,000 | $112,000 | $951,000 |
| FHA-insured (Federal Housing Administration) | 1 | $553,000 | $553,000 | $553,000 | $150,000 | $150,000 |
| 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 | 78 | $13,066,000 | $167,000 | $616,000 | $117,000 | $393,000 |
| Application Denied By Financial Institution | 42 | $6,576,000 | $156,000 | $590,000 | $81,000 | $269,000 |
| Application Withdrawn By Applicant | 27 | $4,502,000 | $166,000 | $568,000 | $143,000 | $951,000 |
| File Closed For Incompleteness | 1 | $250,000 | $250,000 | $250,000 | $224,000 | $224,000 |
| 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 | 15 | $2,481,000 | $165,000 | $553,000 | $62,000 | $150,000 |
| Collateral | 13 | $1,607,000 | $123,000 | $350,000 | $100,000 | $131,000 |
| Credit History | 9 | $1,397,000 | $155,000 | $590,000 | $91,000 | $269,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $744,000 | $248,000 | $334,000 | $58,000 | $75,000 |
| Other | 1 | $47,000 | $47,000 | $47,000 | $74,000 | $74,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Xcel Federal Credit Union's 2016 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 Xcel Federal Credit Union'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 New Jersey, download the full spreadsheet
with aggregated HMDA statistics today.
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