1-800-East/West Mortgage Co. Mortgage Lending & HMDA Data, 2010
In 2010, 1-800-East/West Mortgage Co. of Marlborough, MA reported 2,992 mortgage applications totaling $765.9 million, down 19% from 2009. The average application was for $255,974, and applicants reported an average income of $111,255. 71% of its applications resulted in an originated loan and 22% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (633), Boston-Quincy, MA (576) and Worcester, MA (324) (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 | 2,992 |
| Total Mortgage Loan Application Amount | $765,877,000 |
| Average Mortgage Loan Application Amount | $255,974 |
| Highest Mortgage Loan Application Amount | $660,000 |
| Average Applicant Income | $111,255 |
| Highest Applicant Income | $1,129,000 |
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records 1-800-East/West Mortgage Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2010
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 | 2,886 | $741,195,000 | $256,000 | $660,000 | $112,000 | $1,129,000 |
| Home Purchase | 104 | $24,247,000 | $233,000 | $517,000 | $91,000 | $361,000 |
| Home Improvement | 2 | $435,000 | $217,000 | $266,000 | $90,000 | $92,000 |
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 |
|---|---|---|---|---|---|---|
| White | 2,580 | $655,068,000 | $253,000 | $660,000 | $111,000 | $1,129,000 |
| Not Provided | 268 | $72,449,000 | $270,000 | $532,000 | $119,000 | $473,000 |
| Asian | 52 | $15,347,000 | $295,000 | $506,000 | $119,000 | $300,000 |
| Hispanic | 52 | $12,811,000 | $246,000 | $417,000 | $98,000 | $249,000 |
| Black or African American | 34 | $8,673,000 | $255,000 | $486,000 | $90,000 | $182,000 |
| American Indian or Alaskan Native | 4 | $985,000 | $246,000 | $297,000 | $86,000 | $137,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $544,000 | $272,000 | $311,000 | $133,000 | $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) | 2,252 | $567,530,000 | $252,000 | $660,000 | $117,000 | $1,129,000 |
| FHA-insured (Federal Housing Administration) | 737 | $197,575,000 | $268,000 | $592,000 | $95,000 | $474,000 |
| VA-guaranteed (Veterans Administration) | 3 | $772,000 | $257,000 | $355,000 | $117,000 | $170,000 |
| 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 | 2,120 | $538,447,000 | $253,000 | $660,000 | $113,000 | $1,129,000 |
| Application Denied By Financial Institution | 669 | $175,568,000 | $262,000 | $524,000 | $102,000 | $550,000 |
| Application Withdrawn By Applicant | 95 | $23,828,000 | $250,000 | $516,000 | $118,000 | $340,000 |
| Application Approved But Not Accepted | 90 | $23,815,000 | $264,000 | $417,000 | $128,000 | $644,000 |
| File Closed For Incompleteness | 18 | $4,219,000 | $234,000 | $382,000 | $103,000 | $200,000 |
| 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 | 499 | $132,646,000 | $265,000 | $524,000 | $109,000 | $550,000 |
| Debt-To-Income Ratio | 107 | $28,025,000 | $261,000 | $524,000 | $72,000 | $276,000 |
| Credit History | 27 | $6,103,000 | $226,000 | $480,000 | $95,000 | $250,000 |
| Other | 13 | $3,121,000 | $240,000 | $524,000 | $102,000 | $309,000 |
| Unverifiable Information | 10 | $2,647,000 | $264,000 | $522,000 | $111,000 | $208,000 |
| Employment History | 5 | $1,394,000 | $278,000 | $450,000 | $56,000 | $89,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $876,000 | $219,000 | $263,000 | $74,000 | $103,000 |
| Credit Application Incomplete | 1 | $241,000 | $241,000 | $241,000 | $89,000 | $89,000 |
| 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 2010 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.
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