Adams Co-Operative Bank Mortgage Lending & HMDA Data, 2008
In 2008, Adams Co-Operative Bank of Adams, MA reported 339 mortgage applications totaling $42.0 million, up 28% from 2007. The average application was for $123,843, and applicants reported an average income of $72,277. 82% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Pittsfield, MA (314), Springfield, MA (5) and Albany-Schenectady-Troy, NY (1) (applications in parentheses).
| Mortgage Company & Address | Adams Co-Operative Bank 93 Park Street Adams, MA 01220 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 339 |
| Total Mortgage Loan Application Amount | $41,983,000 |
| Average Mortgage Loan Application Amount | $123,843 |
| Highest Mortgage Loan Application Amount | $2,160,000 |
| Average Applicant Income | $72,277 |
| Highest Applicant Income | $525,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Adams Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Berkshire, Massachusetts | 314 | $ 39,199,000 | $ 124,837 | $ 73,000 |
| Bennington, Vermont | 18 | $ 1,856,000 | $ 103,111 | $ 63,000 |
| Franklin, Massachusetts | 5 | $ 577,000 | $ 115,400 | $ 81,000 |
| Rensselaer, New York | 1 | $ 136,000 | $ 136,000 | $ 48,000 |
| Windham, Vermont | 1 | $ 215,000 | $ 215,000 | $ 60,000 |
Mortgage Loan Application Detail Totals for Adams Co-Operative Bank in 2008
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 | 181 | $23,757,000 | $131,000 | $725,000 | $72,000 | $256,000 |
| Home Improvement | 92 | $9,918,000 | $107,000 | $2,160,000 | $68,000 | $500,000 |
| Home Purchase | 66 | $8,308,000 | $125,000 | $276,000 | $79,000 | $525,000 |
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 | 319 | $37,916,000 | $118,000 | $750,000 | $72,000 | $525,000 |
| Not Provided | 13 | $3,239,000 | $249,000 | $2,160,000 | $107,000 | $500,000 |
| Not applicable | 2 | $577,000 | $288,000 | $343,000 | $45,000 | $90,000 |
| Black or African American | 2 | $86,000 | $43,000 | $70,000 | $55,000 | $65,000 |
| Hispanic | 2 | $135,000 | $67,000 | $100,000 | $59,000 | $65,000 |
| Asian | 1 | $30,000 | $30,000 | $30,000 | $24,000 | $24,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 339 | $41,983,000 | $123,000 | $2,160,000 | $72,000 | $525,000 |
| 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 |
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 | 278 | $32,496,000 | $116,000 | $750,000 | $74,000 | $525,000 |
| Application Denied By Financial Institution | 35 | $4,448,000 | $127,000 | $630,000 | $47,000 | $130,000 |
| Application Approved But Not Accepted | 21 | $2,444,000 | $116,000 | $237,000 | $78,000 | $203,000 |
| Application Withdrawn By Applicant | 4 | $2,445,000 | $611,000 | $2,160,000 | $167,000 | $500,000 |
| File Closed For Incompleteness | 1 | $150,000 | $150,000 | $150,000 | $0 | $0 |
| 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 | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Adams Co-Operative Bank's 2008 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 Adams Co-Operative Bank'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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