Chittenden Trust Company Mortgage Lending & HMDA Data, 2008
In 2008, Chittenden Trust Company of Burlington, VT reported 3,036 mortgage applications totaling $571.9 million. The average application was for $188,363, and applicants reported an average income of $105,907. 75% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Burlington-South Burlington, VT (546), Springfield, MA (196) and Bangor, ME (165) (applications in parentheses).
| Mortgage Company & Address | Chittenden Trust Company 2 Burlington Square Burlington, VT 05401 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 |
| Total Number of Mortgage Applications | 3,036 |
| Total Mortgage Loan Application Amount | $571,872,000 |
| Average Mortgage Loan Application Amount | $188,363 |
| Highest Mortgage Loan Application Amount | $5,300,000 |
| Average Applicant Income | $105,907 |
| Highest Applicant Income | $6,356,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Chittenden Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Burlington-South Burlington, VT | 546 | $ 113,744,000 | $ 208,322 | $ 114,000 |
| Springfield, MA | 196 | $ 33,788,000 | $ 172,387 | $ 77,000 |
| Bangor, ME | 165 | $ 24,876,000 | $ 150,763 | $ 76,000 |
| Portland-South Portland-Biddeford, ME | 142 | $ 31,347,000 | $ 220,753 | $ 178,000 |
| Rockingham County-Strafford County, NH | 123 | $ 26,360,000 | $ 214,308 | $ 106,000 |
| Manchester-Nashua, NH | 122 | $ 24,223,000 | $ 198,549 | $ 104,000 |
| Worcester, MA | 53 | $ 15,780,000 | $ 297,735 | $ 152,000 |
| Barnstable Town, MA | 8 | $ 1,463,000 | $ 182,875 | $ 150,000 |
| Boston-Quincy, MA | 8 | $ 2,478,000 | $ 309,750 | $ 176,000 |
| Pittsfield, MA | 6 | $ 1,628,000 | $ 271,333 | $ 538,000 |
| Lewiston-Auburn, ME | 5 | $ 794,000 | $ 158,800 | $ 153,000 |
| Cambridge-Newton-Framingham, MA | 4 | $ 1,033,000 | $ 258,250 | $ 100,000 |
| Hartford-West Hartford-East Hartford, CT | 4 | $ 737,000 | $ 184,250 | $ 103,000 |
| Peabody, MA | 2 | $ 533,000 | $ 266,500 | $ 179,000 |
| Bremerton-Silverdale, WA | 1 | $ 417,000 | $ 417,000 | $ 112,000 |
| Chicago-Naperville-Joliet, IL | 1 | $ 298,000 | $ 298,000 | $ 554,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 1 | $ 128,000 | $ 128,000 | $ 140,000 |
| Lakeland-Winter Haven, FL | 1 | $ 300,000 | $ 300,000 | $ 180,000 |
| Medford, OR | 1 | $ 188,000 | $ 188,000 | $ 25,000 |
| Naples-Marco Island, FL | 1 | $ 190,000 | $ 190,000 | $ 172,000 |
| Norwich-New London, CT | 1 | $ 405,000 | $ 405,000 | $ 329,000 |
| Providence-New Bedford-Fall River, RI-MA | 1 | $ 119,000 | $ 119,000 | $ 166,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 191,000 | $ 191,000 | $ 75,000 |
Mortgage Loan Application Detail Totals for Chittenden Trust Company in 2008
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 | 1,424 | $273,410,000 | $192,000 | $5,300,000 | $103,000 | $2,119,000 |
| Home Purchase | 1,305 | $254,685,000 | $195,000 | $3,840,000 | $106,000 | $4,440,000 |
| Home Improvement | 307 | $43,777,000 | $142,000 | $2,175,000 | $119,000 | $6,356,000 |
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 | 2,237 | $391,889,000 | $175,000 | $2,300,000 | $100,000 | $6,356,000 |
| Not Provided | 658 | $141,481,000 | $215,000 | $5,300,000 | $142,000 | $4,440,000 |
| Not applicable | 79 | $26,971,000 | $341,000 | $3,840,000 | $0 | $0 |
| Asian | 21 | $4,803,000 | $228,000 | $492,000 | $101,000 | $322,000 |
| Hispanic | 19 | $2,814,000 | $148,000 | $300,000 | $85,000 | $394,000 |
| Black or African American | 12 | $2,506,000 | $208,000 | $950,000 | $109,000 | $325,000 |
| American Indian or Alaskan Native | 8 | $1,139,000 | $142,000 | $294,000 | $59,000 | $166,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $269,000 | $134,000 | $217,000 | $56,000 | $91,000 |
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) | 2,828 | $538,366,000 | $190,000 | $5,300,000 | $109,000 | $6,356,000 |
| FHA-insured (Federal Housing Administration) | 145 | $24,608,000 | $169,000 | $492,000 | $68,000 | $320,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 40 | $5,022,000 | $125,000 | $224,000 | $42,000 | $66,000 |
| VA-guaranteed (Veterans Administration) | 23 | $3,876,000 | $168,000 | $330,000 | $67,000 | $128,000 |
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 | 2,281 | $423,055,000 | $185,000 | $3,840,000 | $107,000 | $4,440,000 |
| Application Denied By Financial Institution | 332 | $65,406,000 | $197,000 | $5,300,000 | $88,000 | $2,119,000 |
| Application Approved But Not Accepted | 232 | $44,121,000 | $190,000 | $885,000 | $142,000 | $6,356,000 |
| Preapproval Denied by Financial Institution | 79 | $14,018,000 | $177,000 | $1,440,000 | $52,000 | $370,000 |
| Application Withdrawn By Applicant | 73 | $16,750,000 | $229,000 | $1,500,000 | $112,000 | $800,000 |
| File Closed For Incompleteness | 39 | $8,522,000 | $218,000 | $760,000 | $90,000 | $317,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 | 131 | $21,223,000 | $162,000 | $1,440,000 | $61,000 | $395,000 |
| Collateral | 114 | $28,367,000 | $248,000 | $5,300,000 | $126,000 | $2,119,000 |
| Debt-To-Income Ratio | 113 | $19,714,000 | $174,000 | $1,075,000 | $46,000 | $188,000 |
| Other | 33 | $6,039,000 | $183,000 | $600,000 | $101,000 | $649,000 |
| Unverifiable Information | 10 | $2,574,000 | $257,000 | $700,000 | $175,000 | $1,039,000 |
| Employment History | 4 | $441,000 | $110,000 | $158,000 | $41,000 | $73,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $609,000 | $203,000 | $350,000 | $135,000 | $330,000 |
| Mortgage Insurance Denied | 3 | $457,000 | $152,000 | $168,000 | $64,000 | $70,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Chittenden Trust Company's 2008 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 Chittenden Trust Company'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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