Avon Co-Operative Bank Mortgage Lending & HMDA Data, 2014
In 2014, Avon Co-Operative Bank of Avon, MA reported 108 mortgage applications totaling $22.9 million, up 11% from 2013. The average application was for $211,740, and applicants reported an average income of $97,037. 26% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Boston, MA (60), Cambridge-Newton-Framingham, MA (29) and Providence-Warwick, RI-MA (5) (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 | 108 |
| Total Mortgage Loan Application Amount | $22,868,000 |
| Average Mortgage Loan Application Amount | $211,740 |
| Highest Mortgage Loan Application Amount | $750,000 |
| Average Applicant Income | $97,037 |
| Highest Applicant Income | $366,000 |
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(HMDA) records Avon Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| 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 | 60 | $ 12,095,000 | $ 201,583 | $ 96,000 |
| Cambridge-Newton-Framingham, MA | 29 | $ 5,880,000 | $ 202,758 | $ 100,000 |
| Providence-Warwick, RI-MA | 5 | $ 1,021,000 | $ 204,200 | $ 117,000 |
| Barnstable Town, MA | 1 | $ 750,000 | $ 750,000 | $ 252,000 |
Mortgage Loan Application Detail Totals for Avon Co-Operative Bank in 2014
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 | 46 | $11,192,000 | $243,000 | $561,000 | $96,000 | $366,000 |
| Refinancing | 45 | $9,057,000 | $201,000 | $750,000 | $100,000 | $252,000 |
| Home Improvement | 17 | $2,619,000 | $154,000 | $446,000 | $92,000 | $179,000 |
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 | 85 | $18,551,000 | $218,000 | $750,000 | $104,000 | $366,000 |
| Not Provided | 7 | $1,549,000 | $221,000 | $417,000 | $90,000 | $124,000 |
| Black or African American | 7 | $1,271,000 | $181,000 | $261,000 | $53,000 | $93,000 |
| Hispanic | 4 | $500,000 | $125,000 | $185,000 | $71,000 | $119,000 |
| Asian | 4 | $705,000 | $176,000 | $220,000 | $96,000 | $166,000 |
| Not applicable | 1 | $292,000 | $292,000 | $292,000 | $25,000 | $25,000 |
| 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) | 108 | $22,868,000 | $211,000 | $750,000 | $97,000 | $366,000 |
| 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 Purchased By The Institution | 43 | $8,733,000 | $203,000 | $443,000 | $98,000 | $213,000 |
| Loan Originated | 28 | $5,929,000 | $211,000 | $561,000 | $121,000 | $366,000 |
| Application Approved But Not Accepted | 8 | $1,091,000 | $136,000 | $233,000 | $82,000 | $136,000 |
| Application Denied By Financial Institution | 7 | $1,318,000 | $188,000 | $264,000 | $58,000 | $100,000 |
| Preapproval Approved but not Accepted | 7 | $1,551,000 | $221,000 | $417,000 | $78,000 | $172,000 |
| Preapproval Denied by Financial Institution | 6 | $1,571,000 | $261,000 | $380,000 | $82,000 | $125,000 |
| File Closed For Incompleteness | 6 | $1,850,000 | $308,000 | $750,000 | $91,000 | $252,000 |
| Application Withdrawn By Applicant | 3 | $825,000 | $275,000 | $310,000 | $93,000 | $138,000 |
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 | 6 | $1,099,000 | $183,000 | $245,000 | $48,000 | $57,000 |
| Credit History | 4 | $940,000 | $235,000 | $380,000 | $83,000 | $109,000 |
| Collateral | 1 | $264,000 | $264,000 | $264,000 | $100,000 | $100,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $325,000 | $325,000 | $325,000 | $125,000 | $125,000 |
| Mortgage Insurance Denied | 1 | $261,000 | $261,000 | $261,000 | $59,000 | $59,000 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Avon Co-Operative Bank's 2014 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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