Canton Co-Operative Bank Mortgage Lending & HMDA Data, 2010
In 2010, Canton Co-Operative Bank of Canton, MA reported 52 mortgage applications totaling $10.6 million, down 22% from 2009. The average application was for $204,576, and applicants reported an average income of $112,923. 83% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Boston-Quincy, MA (41), Barnstable Town, MA (5) and Providence-New Bedford-Fall River, RI-MA (5) (applications in parentheses).
| Mortgage Company & Address | Canton Co-Operative Bank 671 Washington St Canton, MA 02021 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 52 |
| Total Mortgage Loan Application Amount | $10,638,000 |
| Average Mortgage Loan Application Amount | $204,576 |
| Highest Mortgage Loan Application Amount | $524,000 |
| Average Applicant Income | $112,923 |
| Highest Applicant Income | $423,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Canton Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Norfolk, Massachusetts | 36 | $ 7,657,000 | $ 212,694 | $ 110,000 |
| Barnstable, Massachusetts | 5 | $ 1,345,000 | $ 269,000 | $ 173,000 |
| Bristol, Massachusetts | 5 | $ 566,000 | $ 113,200 | $ 105,000 |
| Plymouth, Massachusetts | 4 | $ 767,000 | $ 191,750 | $ 94,000 |
| Suffolk, Massachusetts | 1 | $ 148,000 | $ 148,000 | $ 90,000 |
| Worcester, Massachusetts | 1 | $ 155,000 | $ 155,000 | $ 66,000 |
Mortgage Loan Application Detail Totals for Canton Co-Operative Bank in 2010
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 | 24 | $5,869,000 | $244,000 | $465,000 | $100,000 | $230,000 |
| Home Purchase | 16 | $3,248,000 | $203,000 | $524,000 | $115,000 | $333,000 |
| Home Improvement | 12 | $1,521,000 | $126,000 | $344,000 | $136,000 | $423,000 |
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 | 47 | $9,582,000 | $203,000 | $524,000 | $117,000 | $423,000 |
| Not Provided | 2 | $291,000 | $145,000 | $148,000 | $72,000 | $90,000 |
| Not applicable | 1 | $200,000 | $200,000 | $200,000 | $0 | $0 |
| Asian | 1 | $100,000 | $100,000 | $100,000 | $61,000 | $61,000 |
| Black or African American | 1 | $465,000 | $465,000 | $465,000 | $170,000 | $170,000 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 52 | $10,638,000 | $204,000 | $524,000 | $113,000 | $423,000 |
| 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 | 43 | $8,871,000 | $206,000 | $524,000 | $119,000 | $423,000 |
| Application Denied By Financial Institution | 7 | $1,582,000 | $226,000 | $329,000 | $77,000 | $103,000 |
| Application Withdrawn By Applicant | 2 | $185,000 | $92,000 | $100,000 | $112,000 | $164,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 4 | $1,037,000 | $259,000 | $329,000 | $71,000 | $96,000 |
| Other | 2 | $397,000 | $198,000 | $242,000 | $84,000 | $103,000 |
| Credit History | 1 | $148,000 | $148,000 | $148,000 | $90,000 | $90,000 |
| 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 Canton Co-Operative Bank's 2010 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 Canton 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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