Cape Cod Bank & Trust Mortgage Lending & HMDA Data, 2004
In 2004, Cape Cod Bank & Trust of Falmouth, ME reported 327 mortgage applications totaling $80.7 million, down 85% from 2003. The average application was for $246,746, and applicants reported an average income of $169,737. 89% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Barnstable Town, MA (283), Boston-Quincy, MA (31) and Cambridge-Newton-Framingham, MA (3) (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 | 327 |
| Total Mortgage Loan Application Amount | $80,686,000 |
| Average Mortgage Loan Application Amount | $246,746 |
| Highest Mortgage Loan Application Amount | $1,206,000 |
| Average Applicant Income | $169,737 |
| Highest Applicant Income | $2,269,000 |
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(HMDA) records Cape Cod Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Cape Cod Bank & Trust in 2004
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 | 221 | $48,178,000 | $218,000 | $1,206,000 | $182,000 | $2,269,000 |
| Home Purchase | 100 | $31,898,000 | $318,000 | $892,000 | $147,000 | $545,000 |
| Home Improvement | 6 | $610,000 | $101,000 | $230,000 | $97,000 | $258,000 |
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 | 309 | $77,324,000 | $250,000 | $1,206,000 | $169,000 | $2,269,000 |
| Not Provided | 11 | $2,344,000 | $213,000 | $415,000 | $193,000 | $428,000 |
| Asian | 4 | $698,000 | $174,000 | $250,000 | $79,000 | $112,000 |
| Black or African American | 1 | $210,000 | $210,000 | $210,000 | $59,000 | $59,000 |
| Hispanic | 1 | $50,000 | $50,000 | $50,000 | $54,000 | $54,000 |
| American Indian or Alaskan Native | 1 | $60,000 | $60,000 | $60,000 | $27,000 | $27,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 327 | $80,686,000 | $246,000 | $1,206,000 | $161,000 | $2,269,000 |
| 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 | 290 | $71,370,000 | $246,000 | $1,206,000 | $181,000 | $2,269,000 |
| Application Denied By Financial Institution | 14 | $3,362,000 | $240,000 | $554,000 | $87,000 | $295,000 |
| Application Approved But Not Accepted | 11 | $2,968,000 | $269,000 | $620,000 | $112,000 | $314,000 |
| Application Withdrawn By Applicant | 8 | $1,866,000 | $233,000 | $550,000 | $111,000 | $449,000 |
| File Closed For Incompleteness | 4 | $1,120,000 | $280,000 | $750,000 | $293,000 | $556,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 7 | $1,979,000 | $282,000 | $554,000 | $70,000 | $129,000 |
| Credit History | 3 | $415,000 | $138,000 | $180,000 | $75,000 | $141,000 |
| Collateral | 2 | $549,000 | $274,000 | $499,000 | $179,000 | $295,000 |
| Credit Application Incomplete | 1 | $334,000 | $334,000 | $334,000 | $57,000 | $57,000 |
| Employment History | 1 | $85,000 | $85,000 | $85,000 | $18,000 | $18,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 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 2004 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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