Asian American Bank & Trust Co Mortgage Lending & HMDA Data, 2003
In 2003, Asian American Bank & Trust Co of Boston, MA reported 213 mortgage applications totaling $58.7 million. The average application was for $275,784, and applicants reported an average income of $111,690. 62% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Boston, MA-NH (182), Worcester, MA-CT (8) and Providence-Fall River-Warwick, RI-MA (6) (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 | 213 |
| Total Mortgage Loan Application Amount | $58,742,000 |
| Average Mortgage Loan Application Amount | $275,784 |
| Highest Mortgage Loan Application Amount | $2,080,000 |
| Average Applicant Income | $111,690 |
| Highest Applicant Income | $2,101,000 |
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records Asian American Bank & Trust Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Boston, MA-NH | 182 | $ 50,437,000 | $ 277,126 | $ 112,000 |
| Worcester, MA-CT | 8 | $ 3,325,000 | $ 415,625 | $ 178,000 |
| Providence-Fall River-Warwick, RI-MA | 6 | $ 1,683,000 | $ 280,500 | $ 157,000 |
| Manchester, NH | 4 | $ 883,000 | $ 220,750 | $ 256,000 |
| Lawrence, MA-NH | 3 | $ 677,000 | $ 225,666 | $ 71,000 |
| Brockton, MA | 2 | $ 582,000 | $ 291,000 | $ 62,000 |
| Dutchess County, NY | 1 | $ 214,000 | $ 214,000 | $ 50,000 |
| Nashua, NH | 1 | $ 60,000 | $ 60,000 | $ 36,000 |
| Pittsfield, MA | 1 | $ 152,000 | $ 152,000 | $ 52,000 |
| Springfield, MA | 1 | $ 176,000 | $ 176,000 | $ 0 |
Mortgage Loan Application Detail Totals for Asian American Bank & Trust Co in 2003
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 (home purchase or home improvement, one-to-four family) | 114 | $24,688,000 | $196,250 | $746,000 | $265,500 | $2,101,000 |
| Home Purchase (one-to-four family) | 82 | $23,056,000 | $278,750 | $1,680,000 | $89,000 | $783,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 17 | $10,998,000 | $464,000 | $2,080,000 | $0 | $0 |
| Home Improvement (one-to-four family) | 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 |
|---|---|---|---|---|---|---|
| Asian or Pacific Islander | 173 | $44,291,000 | $249,333 | $1,680,000 | $117,000 | $2,101,000 |
| White | 22 | $4,952,000 | $165,500 | $500,000 | $131,000 | $832,000 |
| Not applicable | 11 | $7,883,000 | $420,000 | $2,080,000 | $161,500 | $596,000 |
| Black | 3 | $724,000 | $241,000 | $350,000 | $156,000 | $392,000 |
| Hispanic | 3 | $672,000 | $224,000 | $300,000 | $42,000 | $72,000 |
| American Indian or Alaskan Native | 1 | $220,000 | $220,000 | $220,000 | $70,000 | $70,000 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Information not provided by applicant in mail or telephone application | 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) | 213 | $58,742,000 | $212,200 | $2,080,000 | $119,200 | $2,101,000 |
| 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 | 132 | $38,800,000 | $235,750 | $2,080,000 | $168,750 | $2,101,000 |
| Application Approved But Not Accepted | 41 | $9,635,000 | $149,500 | $500,000 | $78,500 | $392,000 |
| Application Denied By Financial Institution | 22 | $6,100,000 | $263,000 | $680,000 | $101,000 | $252,000 |
| Application Withdrawn By Applicant | 18 | $4,207,000 | $229,500 | $500,000 | $90,000 | $227,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 13 | $3,687,000 | $199,000 | $680,000 | $95,000 | $252,000 |
| Debt-To-Income Ratio | 5 | $1,091,000 | $349,000 | $567,000 | $97,000 | $163,000 |
| Unverifiable Information | 2 | $900,000 | $450,000 | $500,000 | $147,000 | $194,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Asian American Bank & Trust Co's 2003 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.
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with aggregated HMDA statistics today.
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