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| $6,295,214,383,000 in Mortgage Loans Applied for in 2006 from 34,105,441 Applications |
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HERITAGE CO-OPERATIVE BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
HERITAGE CO-OPERATIVE BANK |
| Address | 71 WASHINGTON STREET
SALEM, MA 01970 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2005 |
| All Data Years | 2003 2004 2005 |
| Total Number of Mortgage Loan Applications Processed | 179 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $39,071,000 |
| Average Mortgage Loan Amount Applied For | $315,000 |
| Highest Mortgage Loan Amount Applied For | $1,000,000 |
| Average Applicant Income | $96,400 |
| Highest Applicant Income | $258,000 |
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| Home Improvement |
17 | $3,343,000 |
$196,000 | $440,000 |
$60,000 | $258,000 |
| Home Purchase |
105 | $24,230,000 |
$295,333 | $930,000 |
$87,000 | $250,000 |
| Refinancing |
72 | $13,922,000 |
$193,000 | $1,000,000 |
$61,000 | $194,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
6 | $1,053,000 |
$163,000 | $335,000 |
$38,500 | $70,000 |
| Black or African American |
3 | $433,000 |
$144,500 | $146,000 |
$26,500 | $49,000 |
| Hispanic |
9 | $1,020,000 |
$212,500 | $340,000 |
$58,500 | $82,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
4 | $1,406,000 |
$351,000 | $640,000 |
$0 | $0 |
| Not Provided |
2 | $818,000 |
$409,000 | $425,000 |
$95,000 | $101,000 |
| White |
170 | $36,765,000 |
$286,333 | $1,000,000 |
$93,333 | $258,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
194 | $41,495,000 |
$288,333 | $1,000,000 |
$89,000 | $258,000 |
| 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 |
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| Application Approved But Not Accepted |
6 | $960,000 |
$160,000 | $324,000 |
$42,000 | $58,000 |
| Application Denied By Financial Institution |
13 | $2,825,000 |
$140,000 | $520,000 |
$72,000 | $187,000 |
| Application Withdrawn By Applicant |
14 | $3,027,000 |
$216,000 | $762,000 |
$49,000 | $176,000 |
| File Closed For Incompleteness |
2 | $588,000 |
$294,000 | $393,000 |
$66,000 | $90,000 |
| Loan Originated |
144 | $31,671,000 |
$572,000 | $1,000,000 |
$154,000 | $258,000 |
| 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 |
15 | $2,424,000 |
$161,000 | $340,000 |
$42,000 | $82,000 |
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| Collateral |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
14 | $1,966,000 |
$114,666 | $375,000 |
$68,666 | $122,000 |
| Debt-To-Income Ratio |
13 | $3,125,000 |
$245,000 | $520,000 |
$42,500 | $187,000 |
| Employment History |
1 | $158,000 |
$158,000 | $158,000 |
$47,000 | $47,000 |
| 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 |
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Mortgage Loan App Totals for HERITAGE CO-OPERATIVE BANK by:
Metropolitan Area And
County
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