Cape Cod Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, Cape Cod Bank & Trust of Falmouth, ME reported 2,171 mortgage applications totaling $407.2 million. The average application was for $187,549, and applicants reported an average income of $129,137. 92% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Barnstable-Yarmouth, MA (1,551), Boston, MA-NH (111) and New Bedford, MA (61) (applications in parentheses).
| Mortgage Company & Address | Cape Cod Bank & Trust C/O Banknorth, N.A. 70 Gray Rd Falmouth, ME 04105 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 2,171 |
| Total Mortgage Loan Application Amount | $407,169,000 |
| Average Mortgage Loan Application Amount | $187,549 |
| Highest Mortgage Loan Application Amount | $2,925,000 |
| Average Applicant Income | $129,137 |
| Highest Applicant Income | $1,691,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cape Cod Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Barnstable-Yarmouth, MA | 1,551 | $ 281,574,000 | $ 181,543 | $ 107,000 |
| Boston, MA-NH | 111 | $ 22,683,000 | $ 204,351 | $ 130,000 |
| New Bedford, MA | 61 | $ 9,480,000 | $ 155,409 | $ 117,000 |
| Brockton, MA | 12 | $ 1,660,000 | $ 138,333 | $ 62,000 |
| Worcester, MA-CT | 2 | $ 377,000 | $ 188,500 | $ 109,000 |
| Lawrence, MA-NH | 1 | $ 500,000 | $ 500,000 | $ 120,000 |
| Lowell, MA-NH | 1 | $ 175,000 | $ 175,000 | $ 65,000 |
Mortgage Loan Application Detail Totals for Cape Cod Bank & Trust in 2003
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 (home purchase or home improvement, one-to-four family) | 1,832 | $321,848,000 | $175,000 | $1,459,000 | $131,000 | $1,691,000 |
| Home Purchase (one-to-four family) | 318 | $83,751,000 | $263,000 | $2,925,000 | $120,000 | $1,294,000 |
| Home Improvement (one-to-four family) | 21 | $1,570,000 | $74,000 | $195,000 | $105,000 | $275,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 1,853 | $347,552,000 | $187,000 | $2,925,000 | $128,000 | $1,294,000 |
| Information not provided by applicant in mail or telephone application | 284 | $53,571,000 | $188,000 | $1,250,000 | $164,000 | $1,691,000 |
| Other | 13 | $2,046,000 | $157,000 | $323,000 | $72,000 | $172,000 |
| Asian or Pacific Islander | 8 | $2,179,000 | $272,000 | $455,000 | $91,000 | $259,000 |
| Black | 7 | $967,000 | $138,000 | $280,000 | $51,000 | $63,000 |
| American Indian or Alaskan Native | 4 | $593,000 | $148,000 | $220,000 | $71,000 | $96,000 |
| Hispanic | 2 | $261,000 | $130,000 | $229,000 | $58,000 | $86,000 |
| Not applicable | 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) | 2,171 | $407,169,000 | $187,000 | $2,925,000 | $127,000 | $1,691,000 |
| 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 | 1,996 | $367,912,000 | $184,000 | $2,925,000 | $122,000 | $1,294,000 |
| Application Approved But Not Accepted | 78 | $17,205,000 | $220,000 | $800,000 | $134,000 | $865,000 |
| Application Denied By Financial Institution | 56 | $13,457,000 | $240,000 | $812,000 | $141,000 | $1,188,000 |
| Application Withdrawn By Applicant | 36 | $7,594,000 | $210,000 | $550,000 | $143,000 | $1,691,000 |
| File Closed For Incompleteness | 5 | $1,001,000 | $200,000 | $600,000 | $85,000 | $121,000 |
| 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 | 27 | $5,626,000 | $208,000 | $650,000 | $106,000 | $279,000 |
| Debt-To-Income Ratio | 10 | $3,140,000 | $314,000 | $620,000 | $103,000 | $576,000 |
| Collateral | 9 | $2,573,000 | $285,000 | $812,000 | $369,000 | $1,188,000 |
| Other | 5 | $1,133,000 | $226,000 | $375,000 | $58,000 | $102,000 |
| Credit Application Incomplete | 3 | $795,000 | $265,000 | $340,000 | $165,000 | $286,000 |
| Employment History | 2 | $190,000 | $95,000 | $100,000 | $31,000 | $43,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cape Cod Bank & Trust's 2003 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 Cape Cod 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.
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with aggregated HMDA statistics today.
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