1-800-East/West Mortgage Co. Mortgage Lending & HMDA Data, 2003
In 2003, 1-800-East/West Mortgage Co. of Marlborough, MA reported 13,779 mortgage applications totaling $2.8 billion. The average application was for $201,661, and applicants reported an average income of $72,618. 74% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Boston, MA-NH (5,153), Hartford, CT (917) and Worcester, MA-CT (709) (applications in parentheses).
| Mortgage Company & Address | 1-800-East/West Mortgage Co. 171 Locke Drive Suite 107 Marlborough, MA 01752 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 13,779 |
| Total Mortgage Loan Application Amount | $2,778,688,000 |
| Average Mortgage Loan Application Amount | $201,661 |
| Highest Mortgage Loan Application Amount | $2,661,000 |
| Average Applicant Income | $72,618 |
| Highest Applicant Income | $880,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records 1-800-East/West Mortgage Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for 1-800-East/West Mortgage Co. 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) | 11,423 | $2,266,722,000 | $172,285 | $2,661,000 | $77,142 | $880,000 |
| Home Purchase (one-to-four family) | 2,352 | $511,413,000 | $186,571 | $1,589,000 | $71,000 | $720,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 4 | $553,000 | $138,000 | $163,000 | $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 |
|---|---|---|---|---|---|---|
| Information not provided by applicant in mail or telephone application | 10,904 | $2,202,984,000 | $178,000 | $2,275,000 | $74,571 | $880,000 |
| White | 2,642 | $528,667,000 | $165,428 | $2,661,000 | $72,285 | $875,000 |
| Black | 85 | $16,881,000 | $149,400 | $447,000 | $72,200 | $420,000 |
| Hispanic | 61 | $10,767,000 | $177,000 | $486,000 | $56,800 | $109,000 |
| Asian or Pacific Islander | 57 | $12,377,000 | $185,200 | $510,000 | $77,000 | $142,000 |
| Other | 24 | $5,627,000 | $212,750 | $455,000 | $99,500 | $289,000 |
| American Indian or Alaskan Native | 6 | $1,385,000 | $254,250 | $514,000 | $40,750 | $108,000 |
| 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) | 13,404 | $2,712,488,000 | $175,142 | $2,661,000 | $74,857 | $880,000 |
| FHA-insured (Federal Housing Administration) | 345 | $60,387,000 | $168,142 | $327,000 | $88,000 | $300,000 |
| VA-guaranteed (Veterans Administration) | 24 | $4,202,000 | $196,200 | $309,000 | $65,800 | $126,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 6 | $1,611,000 | $359,000 | $755,000 | $125,000 | $292,000 |
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 | 10,132 | $2,049,537,000 | $172,285 | $2,661,000 | $67,142 | $880,000 |
| Application Withdrawn By Applicant | 2,214 | $446,052,000 | $181,571 | $1,000,000 | $83,571 | $720,000 |
| Application Denied By Financial Institution | 1,223 | $239,553,000 | $173,714 | $1,100,000 | $75,571 | $500,000 |
| Application Approved But Not Accepted | 134 | $27,968,000 | $187,428 | $920,000 | $72,000 | $476,000 |
| File Closed For Incompleteness | 76 | $15,578,000 | $193,666 | $1,164,000 | $80,833 | $270,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 403 | $77,986,000 | $168,714 | $617,000 | $76,142 | $500,000 |
| Collateral | 277 | $55,803,000 | $185,285 | $1,100,000 | $76,428 | $430,000 |
| Credit Application Incomplete | 162 | $29,848,000 | $164,333 | $555,000 | $74,000 | $330,000 |
| Debt-To-Income Ratio | 134 | $27,194,000 | $203,571 | $755,000 | $66,000 | $292,000 |
| Credit History | 83 | $15,900,000 | $162,666 | $592,000 | $52,333 | $305,000 |
| Unverifiable Information | 70 | $14,552,000 | $181,285 | $600,000 | $74,857 | $420,000 |
| Employment History | 48 | $8,767,000 | $176,000 | $352,000 | $88,571 | $460,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 44 | $9,214,000 | $184,166 | $475,000 | $72,000 | $134,000 |
| Mortgage Insurance Denied | 2 | $289,000 | $144,500 | $221,000 | $54,000 | $58,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into 1-800-East/West Mortgage Co.'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 1-800-East/West Mortgage Co.'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 Massachusetts, download the full spreadsheet
with aggregated HMDA statistics today.
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