Beacon Bank & Trust Mortgage Lending & HMDA Data, 2020
In 2020, Beacon Bank & Trust of Albany, NY reported 1,005 mortgage applications totaling $418.9 million, up 14% from 2019. The average application was for $416,781, and applicants reported an average income of $233,425. 72% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (532), Boston, MA (421) and Barnstable Town, MA (13) (applications in parentheses).
| Mortgage Company & Address | Beacon Bank & Trust Albany, NY 12207 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 |
| Total Number of Mortgage Applications | 1,005 |
| Total Mortgage Loan Application Amount | $418,865,000 |
| Average Mortgage Loan Application Amount | $416,781 |
| Highest Mortgage Loan Application Amount | $13,005,000 |
| Average Applicant Income | $233,425 |
| Highest Applicant Income | $4,464,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Beacon Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Beacon Bank & Trust in 2020
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 | 351 | $201,745,000 | $574,000 | $13,005,000 | $243,000 | $3,526,000 |
| Home Improvement | 314 | $66,460,000 | $211,000 | $11,805,000 | $200,000 | $4,464,000 |
| Home Purchase | 184 | $116,640,000 | $633,000 | $12,285,000 | $298,000 | $3,191,000 |
| Other Purpose | 156 | $34,020,000 | $218,000 | $1,005,000 | $203,000 | $1,343,000 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 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 |
|---|---|---|---|---|---|---|
| White | 622 | $167,400,000 | $269,000 | $2,805,000 | $236,000 | $4,464,000 |
| Not Provided | 225 | $111,435,000 | $495,000 | $3,255,000 | $259,000 | $2,220,000 |
| Asian | 46 | $12,530,000 | $272,000 | $905,000 | $160,000 | $740,000 |
| Not applicable | 38 | $112,800,000 | $2,968,000 | $13,005,000 | $0 | $0 |
| Hispanic | 33 | $5,725,000 | $173,000 | $455,000 | $98,000 | $245,000 |
| Black or African American | 16 | $2,540,000 | $158,000 | $365,000 | $199,000 | $795,000 |
| American Indian or Alaskan Native | 4 | $1,230,000 | $307,000 | $705,000 | $136,000 | $191,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $205,000 | $205,000 | $205,000 | $116,000 | $116,000 |
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) | 1,005 | $418,865,000 | $416,000 | $13,005,000 | $232,000 | $4,464,000 |
| 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 | 720 | $332,660,000 | $462,000 | $13,005,000 | $245,000 | $3,526,000 |
| Application Denied By Financial Institution | 161 | $43,305,000 | $268,000 | $3,105,000 | $182,000 | $4,464,000 |
| Application Withdrawn By Applicant | 60 | $21,220,000 | $353,000 | $1,805,000 | $266,000 | $1,477,000 |
| Application Approved But Not Accepted | 38 | $11,000,000 | $289,000 | $1,805,000 | $204,000 | $795,000 |
| File Closed For Incompleteness | 26 | $10,680,000 | $410,000 | $1,515,000 | $183,000 | $1,036,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 844 | $375,560,000 | $444,000 | $13,005,000 | $242,000 | $3,526,000 |
| Debt-To-Income Ratio | 73 | $16,675,000 | $228,000 | $1,135,000 | $77,000 | $269,000 |
| Credit History | 47 | $9,145,000 | $194,000 | $805,000 | $220,000 | $4,464,000 |
| Collateral | 28 | $4,620,000 | $165,000 | $1,545,000 | $174,000 | $597,000 |
| Other | 10 | $9,130,000 | $913,000 | $2,805,000 | $890,000 | $3,109,000 |
| Credit Application Incomplete | 2 | $630,000 | $315,000 | $355,000 | $257,000 | $280,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $3,105,000 | $3,105,000 | $3,105,000 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Beacon Bank & Trust's 2020 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 Beacon Bank & Trust'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 New York, download the full spreadsheet
with aggregated HMDA statistics today.
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