Avon Co-Operative Bank Mortgage Lending & HMDA Data, 2016
In 2016, Avon Co-Operative Bank of Avon, MA reported 68 mortgage applications totaling $18.8 million, down 36% from 2015. The average application was for $277,147, and applicants reported an average income of $99,808. 59% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Boston, MA (50), Providence-Warwick, RI-MA (4) and Barnstable Town, MA (2) (applications in parentheses).
| Mortgage Company & Address | Avon Co-Operative Bank 1 East Main Street Avon, MA 02322 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 2009 2008 |
| Total Number of Mortgage Applications | 68 |
| Total Mortgage Loan Application Amount | $18,846,000 |
| Average Mortgage Loan Application Amount | $277,147 |
| Highest Mortgage Loan Application Amount | $1,200,000 |
| Average Applicant Income | $99,808 |
| Highest Applicant Income | $346,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Avon Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Avon Co-Operative Bank in 2016
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 | 35 | $9,967,000 | $284,000 | $700,000 | $102,000 | $263,000 |
| Home Improvement | 17 | $3,041,000 | $178,000 | $750,000 | $113,000 | $346,000 |
| Refinancing | 16 | $5,838,000 | $364,000 | $1,200,000 | $81,000 | $162,000 |
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 | 43 | $11,455,000 | $266,000 | $700,000 | $103,000 | $263,000 |
| Black or African American | 14 | $3,493,000 | $249,000 | $450,000 | $70,000 | $103,000 |
| Hispanic | 4 | $543,000 | $135,000 | $250,000 | $107,000 | $239,000 |
| Asian | 3 | $615,000 | $205,000 | $302,000 | $99,000 | $159,000 |
| Not Provided | 3 | $1,540,000 | $513,000 | $750,000 | $212,000 | $346,000 |
| Not applicable | 1 | $1,200,000 | $1,200,000 | $1,200,000 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiin 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) | 68 | $18,846,000 | $277,000 | $1,200,000 | $100,000 | $346,000 |
| 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 | 40 | $10,385,000 | $259,000 | $750,000 | $120,000 | $346,000 |
| Application Denied By Financial Institution | 11 | $3,201,000 | $291,000 | $1,200,000 | $68,000 | $201,000 |
| Preapproval Denied by Financial Institution | 6 | $1,788,000 | $298,000 | $450,000 | $50,000 | $87,000 |
| Preapproval Approved but not Accepted | 5 | $1,592,000 | $318,000 | $417,000 | $79,000 | $111,000 |
| Application Withdrawn By Applicant | 5 | $1,684,000 | $336,000 | $491,000 | $96,000 | $263,000 |
| File Closed For Incompleteness | 1 | $196,000 | $196,000 | $196,000 | $55,000 | $55,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 10 | $3,681,000 | $368,000 | $1,200,000 | $50,000 | $89,000 |
| Credit History | 5 | $857,000 | $171,000 | $436,000 | $94,000 | $201,000 |
| Other | 2 | $451,000 | $225,000 | $450,000 | $38,000 | $77,000 |
| 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 Avon Co-Operative Bank's 2016 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 Avon 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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