Canton Co-Operative Bank Mortgage Lending & HMDA Data, 2009
In 2009, Canton Co-Operative Bank of Canton, MA reported 67 mortgage applications totaling $15.4 million, up 81% from 2008. The average application was for $229,985, and applicants reported an average income of $126,447. 90% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Boston-Quincy, MA (61), Providence-New Bedford-Fall River, RI-MA (3) and Barnstable Town, MA (1) (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 | 67 |
| Total Mortgage Loan Application Amount | $15,409,000 |
| Average Mortgage Loan Application Amount | $229,985 |
| Highest Mortgage Loan Application Amount | $750,000 |
| Average Applicant Income | $126,447 |
| Highest Applicant Income | $372,000 |
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(HMDA) records Canton Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 55 | $ 13,155,000 | $ 239,181 | $ 129,000 |
| Plymouth, Massachusetts | 5 | $ 794,000 | $ 158,800 | $ 91,000 |
| Bristol, Massachusetts | 3 | $ 393,000 | $ 131,000 | $ 79,000 |
| Barnstable, Massachusetts | 1 | $ 315,000 | $ 315,000 | $ 132,000 |
| Dukes, Massachusetts | 1 | $ 350,000 | $ 350,000 | $ 372,000 |
| Essex, Massachusetts | 1 | $ 160,000 | $ 160,000 | $ 78,000 |
| Suffolk, Massachusetts | 1 | $ 242,000 | $ 242,000 | $ 104,000 |
Mortgage Loan Application Detail Totals for Canton Co-Operative Bank in 2009
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 | 37 | $8,391,000 | $226,000 | $561,000 | $114,000 | $372,000 |
| Home Purchase | 21 | $5,552,000 | $264,000 | $750,000 | $134,000 | $361,000 |
| Home Improvement | 9 | $1,466,000 | $162,000 | $400,000 | $160,000 | $370,000 |
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 | 62 | $14,169,000 | $228,000 | $750,000 | $133,000 | $372,000 |
| Not applicable | 2 | $690,000 | $345,000 | $450,000 | $0 | $0 |
| Asian | 1 | $110,000 | $110,000 | $110,000 | $103,000 | $103,000 |
| Black or African American | 1 | $150,000 | $150,000 | $150,000 | $15,000 | $15,000 |
| Hispanic | 1 | $290,000 | $290,000 | $290,000 | $114,000 | $114,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 67 | $15,409,000 | $229,000 | $750,000 | $127,000 | $372,000 |
| 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 | 60 | $13,962,000 | $232,000 | $750,000 | $130,000 | $372,000 |
| Application Denied By Financial Institution | 6 | $1,264,000 | $210,000 | $300,000 | $60,000 | $107,000 |
| Application Approved But Not Accepted | 1 | $183,000 | $183,000 | $183,000 | $300,000 | $300,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 2 | $415,000 | $207,000 | $265,000 | $23,000 | $32,000 |
| Collateral | 1 | $197,000 | $197,000 | $197,000 | $66,000 | $66,000 |
| Mortgage Insurance Denied | 1 | $300,000 | $300,000 | $300,000 | $107,000 | $107,000 |
| Credit History | 1 | $145,000 | $145,000 | $145,000 | $37,000 | $37,000 |
| 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 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Canton Co-Operative Bank's 2009 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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