Canton Co-Operative Bank Mortgage Lending & HMDA Data, 2005
In 2005, Canton Co-Operative Bank of Canton, MA reported 76 mortgage applications totaling $17.5 million, up 77% from 2004. The average application was for $230,842, and applicants reported an average income of $100,368. 91% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Boston-Quincy, MA (63) and Barnstable Town, MA (3).
| 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 | 76 |
| Total Mortgage Loan Application Amount | $17,544,000 |
| Average Mortgage Loan Application Amount | $230,842 |
| Highest Mortgage Loan Application Amount | $680,000 |
| Average Applicant Income | $100,368 |
| Highest Applicant Income | $275,000 |
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(HMDA) records Canton Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Boston-Quincy, MA | 63 | $ 14,331,000 | $ 227,476 | $ 89,000 |
| Barnstable Town, MA | 3 | $ 960,000 | $ 320,000 | $ 194,000 |
Mortgage Loan Application Detail Totals for Canton Co-Operative Bank in 2005
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 | 34 | $8,239,000 | $242,000 | $600,000 | $109,000 | $275,000 |
| Home Purchase | 31 | $7,735,000 | $231,000 | $680,000 | $58,500 | $240,000 |
| Home Improvement | 11 | $1,570,000 | $142,000 | $300,000 | $107,000 | $216,000 |
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 | 68 | $15,958,000 | $222,500 | $680,000 | $62,500 | $275,000 |
| Black or African American | 3 | $775,000 | $258,000 | $360,000 | $182,000 | $216,000 |
| Hispanic | 2 | $212,000 | $106,000 | $107,000 | $101,000 | $108,000 |
| American Indian or Alaskan Native | 2 | $314,000 | $157,000 | $189,000 | $48,000 | $50,000 |
| Asian | 1 | $285,000 | $285,000 | $285,000 | $1,000 | $1,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 76 | $17,544,000 | $220,500 | $680,000 | $62,500 | $275,000 |
| 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 | 69 | $15,700,000 | $227,000 | $680,000 | $111,000 | $275,000 |
| Preapproval Denied by Financial Institution | 3 | $692,000 | $233,000 | $285,000 | $10,500 | $42,000 |
| Preapproval Approved but not Accepted | 1 | $180,000 | $180,000 | $180,000 | $49,000 | $49,000 |
| Application Approved But Not Accepted | 1 | $350,000 | $350,000 | $350,000 | $108,000 | $108,000 |
| Application Denied By Financial Institution | 1 | $275,000 | $275,000 | $275,000 | $80,000 | $80,000 |
| Application Withdrawn By Applicant | 1 | $347,000 | $347,000 | $347,000 | $117,000 | $117,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Credit History | 1 | $275,000 | $275,000 | $275,000 | $80,000 | $80,000 |
| Debt-To-Income Ratio | 1 | $167,000 | $167,000 | $167,000 | $42,000 | $42,000 |
| Other | 1 | $240,000 | $240,000 | $240,000 | $0 | $0 |
| Unverifiable Information | 1 | $285,000 | $285,000 | $285,000 | $1,000 | $1,000 |
| 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 2005 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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