1-800-East/West Mortgage Co. Mortgage Lending & HMDA Data, 2009
In 2009, 1-800-East/West Mortgage Co. of Marlborough, MA reported 3,690 mortgage applications totaling $886.5 million, up 20% from 2008. The average application was for $240,244, and applicants reported an average income of $77,884. 54% of its applications resulted in an originated loan and 36% were denied. Its largest markets were Boston-Quincy, MA (612), Cambridge-Newton-Framingham, MA (557) and Worcester, MA (431) (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 | 3,690 |
| Total Mortgage Loan Application Amount | $886,501,000 |
| Average Mortgage Loan Application Amount | $240,244 |
| Highest Mortgage Loan Application Amount | $880,000 |
| Average Applicant Income | $77,884 |
| Highest Applicant Income | $917,000 |
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records 1-800-East/West Mortgage Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2009
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 | 3,264 | $806,726,000 | $247,000 | $880,000 | $78,000 | $917,000 |
| Home Purchase | 426 | $79,775,000 | $187,000 | $770,000 | $77,000 | $653,000 |
| Home Improvement | 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 |
|---|---|---|---|---|---|---|
| White | 2,909 | $693,879,000 | $238,000 | $880,000 | $81,000 | $917,000 |
| Not Provided | 576 | $144,932,000 | $251,000 | $631,000 | $66,000 | $447,000 |
| Hispanic | 85 | $19,849,000 | $233,000 | $497,000 | $61,000 | $160,000 |
| Black or African American | 54 | $11,681,000 | $216,000 | $875,000 | $64,000 | $268,000 |
| Asian | 44 | $11,270,000 | $256,000 | $417,000 | $87,000 | $229,000 |
| American Indian or Alaskan Native | 15 | $3,163,000 | $210,000 | $350,000 | $93,000 | $192,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $1,727,000 | $246,000 | $322,000 | $91,000 | $133,000 |
| 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) | 2,114 | $473,506,000 | $223,000 | $880,000 | $89,000 | $917,000 |
| FHA-insured (Federal Housing Administration) | 1,567 | $410,800,000 | $262,000 | $682,000 | $63,000 | $430,000 |
| VA-guaranteed (Veterans Administration) | 9 | $2,195,000 | $243,000 | $363,000 | $80,000 | $128,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 1,993 | $485,083,000 | $243,000 | $600,000 | $79,000 | $917,000 |
| Application Denied By Financial Institution | 1,312 | $306,833,000 | $233,000 | $880,000 | $74,000 | $700,000 |
| Application Withdrawn By Applicant | 279 | $69,383,000 | $248,000 | $631,000 | $86,000 | $330,000 |
| Application Approved But Not Accepted | 63 | $15,057,000 | $239,000 | $485,000 | $73,000 | $225,000 |
| File Closed For Incompleteness | 43 | $10,145,000 | $235,000 | $378,000 | $76,000 | $234,000 |
| 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 | 433 | $111,831,000 | $258,000 | $611,000 | $95,000 | $430,000 |
| Debt-To-Income Ratio | 73 | $18,191,000 | $249,000 | $456,000 | $59,000 | $217,000 |
| Other | 38 | $8,415,000 | $221,000 | $559,000 | $74,000 | $250,000 |
| Credit History | 36 | $9,250,000 | $256,000 | $397,000 | $54,000 | $140,000 |
| Employment History | 18 | $4,243,000 | $235,000 | $417,000 | $49,000 | $265,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 9 | $2,696,000 | $299,000 | $439,000 | $77,000 | $229,000 |
| Mortgage Insurance Denied | 3 | $765,000 | $255,000 | $318,000 | $74,000 | $93,000 |
| Unverifiable Information | 3 | $715,000 | $238,000 | $311,000 | $74,000 | $83,000 |
| Credit Application Incomplete | 3 | $660,000 | $220,000 | $417,000 | $91,000 | $140,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into 1-800-East/West Mortgage Co.'s 2009 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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