1-800-East/West Mortgage Co. Mortgage Lending & HMDA Data, 2004
In 2004, 1-800-East/West Mortgage Co. of Marlborough, MA reported 8,987 mortgage applications totaling $1.9 billion, down 35% from 2003. The average application was for $210,676, and applicants reported an average income of $75,122. 68% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Boston-Quincy, MA (1,402), Cambridge-Newton-Framingham, MA (1,041) and Essex County, MA (887) (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 | 8,987 |
| Total Mortgage Loan Application Amount | $1,893,350,000 |
| Average Mortgage Loan Application Amount | $210,676 |
| Highest Mortgage Loan Application Amount | $1,403,000 |
| Average Applicant Income | $75,122 |
| Highest Applicant Income | $850,000 |
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records 1-800-East/West Mortgage Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2004
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 | 6,696 | $1,381,274,000 | $188,666 | $999,000 | $75,833 | $822,000 |
| Home Purchase | 2,280 | $507,582,000 | $201,666 | $1,403,000 | $82,666 | $850,000 |
| Home Improvement | 11 | $4,494,000 | $360,250 | $1,247,000 | $146,500 | $434,000 |
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 | 5,884 | $1,243,402,000 | $189,000 | $1,403,000 | $76,500 | $850,000 |
| White | 2,798 | $584,551,000 | $193,333 | $1,000,000 | $81,666 | $726,000 |
| Black or African American | 105 | $21,485,000 | $187,000 | $522,000 | $68,666 | $175,000 |
| Hispanic | 89 | $18,107,000 | $192,600 | $485,000 | $73,000 | $231,000 |
| Asian | 57 | $15,038,000 | $226,833 | $850,000 | $73,833 | $420,000 |
| Not applicable | 31 | $6,222,000 | $227,800 | $464,000 | $87,800 | $198,000 |
| American Indian or Alaskan Native | 17 | $3,255,000 | $138,400 | $410,000 | $63,000 | $132,000 |
| Native Hawaiian or Other Pacific Islander | 6 | $1,290,000 | $174,000 | $384,000 | $76,750 | $200,000 |
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) | 8,714 | $1,840,562,000 | $190,666 | $1,403,000 | $79,333 | $850,000 |
| FHA-insured (Federal Housing Administration) | 235 | $44,772,000 | $181,200 | $361,000 | $63,200 | $325,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 20 | $4,190,000 | $190,000 | $385,000 | $53,000 | $157,000 |
| VA-guaranteed (Veterans Administration) | 18 | $3,826,000 | $226,000 | $325,000 | $72,750 | $123,000 |
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 | 6,144 | $1,294,418,000 | $192,166 | $1,095,000 | $75,833 | $850,000 |
| Application Denied By Financial Institution | 1,300 | $276,410,000 | $187,833 | $1,403,000 | $81,833 | $822,000 |
| Application Withdrawn By Applicant | 1,092 | $229,881,000 | $185,166 | $1,247,000 | $78,333 | $726,000 |
| Application Approved But Not Accepted | 294 | $61,015,000 | $192,333 | $695,000 | $70,000 | $500,000 |
| File Closed For Incompleteness | 157 | $31,626,000 | $191,333 | $720,000 | $84,166 | $372,000 |
| 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 |
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 |
|---|---|---|---|---|---|---|
| Collateral | 494 | $104,312,000 | $192,833 | $800,000 | $84,833 | $545,000 |
| Debt-To-Income Ratio | 212 | $47,152,000 | $206,200 | $1,403,000 | $64,600 | $325,000 |
| Other | 199 | $41,730,000 | $184,333 | $950,000 | $72,833 | $822,000 |
| Credit Application Incomplete | 108 | $22,389,000 | $211,600 | $417,000 | $162,000 | $500,000 |
| Credit History | 104 | $22,920,000 | $165,333 | $715,000 | $69,833 | $295,000 |
| Unverifiable Information | 90 | $18,910,000 | $175,166 | $636,000 | $79,500 | $288,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 48 | $10,372,000 | $201,000 | $547,000 | $71,833 | $180,000 |
| Employment History | 45 | $8,625,000 | $167,200 | $780,000 | $83,600 | $440,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into 1-800-East/West Mortgage Co.'s 2004 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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