Asian American Bank & Trust Co Mortgage Lending & HMDA Data, 2004
In 2004, Asian American Bank & Trust Co of Boston, MA reported 162 mortgage applications totaling $46.7 million, down 24% from 2003. The average application was for $288,049, and applicants reported an average income of $83,716. 56% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Boston-Quincy, MA (81), Cambridge-Newton-Framingham, MA (31) and Worcester, MA (7) (applications in parentheses).
| Mortgage Company & Address | Asian American Bank & Trust Co 68 Harrison Avenue Boston, MA 02111 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 162 |
| Total Mortgage Loan Application Amount | $46,664,000 |
| Average Mortgage Loan Application Amount | $288,049 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $83,716 |
| Highest Applicant Income | $966,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Asian American Bank & Trust Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Asian American Bank & Trust 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 121 | $34,736,000 | $270,500 | $1,820,000 | $73,250 | $480,000 |
| Refinancing | 27 | $8,358,000 | $309,000 | $2,000,000 | $123,000 | $966,000 |
| Home Improvement | 14 | $3,570,000 | $255,000 | $510,000 | $88,500 | $284,000 |
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 |
|---|---|---|---|---|---|---|
| Asian | 134 | $34,636,000 | $214,000 | $2,000,000 | $78,333 | $966,000 |
| White | 11 | $2,866,000 | $264,000 | $543,000 | $158,000 | $351,000 |
| Not applicable | 9 | $5,882,000 | $591,000 | $1,820,000 | $10,000 | $257,000 |
| Black or African American | 7 | $3,091,000 | $441,000 | $975,000 | $66,000 | $392,000 |
| Hispanic | 1 | $189,000 | $189,000 | $189,000 | $48,000 | $48,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 162 | $46,664,000 | $270,500 | $2,000,000 | $76,500 | $966,000 |
| 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 | 90 | $29,084,000 | $331,000 | $2,000,000 | $57,666 | $966,000 |
| Preapproval Approved but not Accepted | 21 | $3,438,000 | $163,000 | $345,000 | $54,000 | $173,000 |
| Application Approved But Not Accepted | 20 | $4,960,000 | $286,500 | $623,000 | $98,000 | $235,000 |
| Application Withdrawn By Applicant | 18 | $5,552,000 | $240,666 | $772,000 | $111,333 | $252,000 |
| Application Denied By Financial Institution | 10 | $3,173,000 | $317,000 | $461,000 | $111,000 | $494,000 |
| Preapproval Denied by Financial Institution | 2 | $266,000 | $133,000 | $133,000 | $43,000 | $52,000 |
| File Closed For Incompleteness | 1 | $191,000 | $191,000 | $191,000 | $185,000 | $185,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 6 | $1,590,000 | $212,000 | $420,000 | $63,000 | $110,000 |
| Debt-To-Income Ratio | 3 | $1,032,000 | $291,000 | $461,000 | $54,500 | $120,000 |
| Other | 1 | $333,000 | $333,000 | $333,000 | $78,000 | $78,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Asian American Bank & Trust 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 Asian American Bank & Trust 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
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