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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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MASSBANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
MASSBANK |
| Address | 123 HAVEN STREET
READING, MA 01867 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 98 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $15,331,000 |
| Average Mortgage Loan Amount Applied For | $171,500 |
| Highest Mortgage Loan Amount Applied For | $500,000 |
| Average Applicant Income | $108,000 |
| Highest Applicant Income | $358,000 |
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| Home Improvement |
39 | $5,218,000 |
$133,000 | $500,000 |
$91,000 | $241,000 |
| Home Purchase |
12 | $2,527,000 |
$210,000 | $499,000 |
$144,000 | $358,000 |
| Refinancing |
47 | $7,586,000 |
$161,000 | $422,000 |
$90,000 | $319,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
3 | $375,000 |
$125,000 | $245,000 |
$57,000 | $79,000 |
| Black or African American |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Hispanic |
2 | $469,000 |
$234,000 | $235,000 |
$85,000 | $96,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
93 | $14,487,000 |
$155,000 | $500,000 |
$99,000 | $358,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
98 | $15,331,000 |
$156,000 | $500,000 |
$97,000 | $358,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
10 | $1,682,000 |
$168,000 | $355,000 |
$52,000 | $88,000 |
| Application Withdrawn By Applicant |
2 | $600,000 |
$300,000 | $300,000 |
$222,000 | $358,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
86 | $13,049,000 |
$151,000 | $500,000 |
$99,000 | $319,000 |
| 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 |
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| Collateral |
2 | $542,000 |
$271,000 | $297,000 |
$74,000 | $88,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
1 | $55,000 |
$55,000 | $55,000 |
$32,000 | $32,000 |
| Debt-To-Income Ratio |
6 | $1,025,000 |
$170,000 | $355,000 |
$50,000 | $83,000 |
| 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 |
| Other |
1 | $60,000 |
$60,000 | $60,000 |
$36,000 | $36,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MASSBANK by:
Metropolitan Area And
County
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