Citizens Bank of Massachusetts Mortgage Lending & HMDA Data, 2003
In 2003, Citizens Bank of Massachusetts of Boston, MA reported 29,062 mortgage applications totaling $5.2 billion. The average application was for $177,783, and applicants reported an average income of $102,236. 52% of its applications resulted in an originated loan and 27% were denied. Its largest markets were Boston, MA-NH (19,513), Barnstable-Yarmouth, MA (1,276) and Brockton, MA (1,222) (applications in parentheses).
| Mortgage Company & Address | Citizens Bank of Massachusetts 28 State Street Boston, MA 02109 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 29,062 |
| Total Mortgage Loan Application Amount | $5,166,730,000 |
| Average Mortgage Loan Application Amount | $177,783 |
| Highest Mortgage Loan Application Amount | $15,447,000 |
| Average Applicant Income | $102,236 |
| Highest Applicant Income | $9,840,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Citizens Bank of Massachusetts filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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, MA-NH | 19,513 | $ 3,673,040,000 | $ 188,235 | $ 119,000 |
| Barnstable-Yarmouth, MA | 1,276 | $ 219,138,000 | $ 171,738 | $ 114,000 |
| Brockton, MA | 1,222 | $ 193,651,000 | $ 158,470 | $ 81,000 |
| Springfield, MA | 1,035 | $ 127,279,000 | $ 122,974 | $ 61,000 |
| New Bedford, MA | 988 | $ 132,596,000 | $ 134,206 | $ 94,000 |
| Worcester, MA-CT | 911 | $ 149,614,000 | $ 164,230 | $ 92,000 |
| Lawrence, MA-NH | 779 | $ 143,839,000 | $ 184,645 | $ 110,000 |
| Lowell, MA-NH | 777 | $ 126,477,000 | $ 162,776 | $ 85,000 |
| Providence-Fall River-Warwick, RI-MA | 266 | $ 38,580,000 | $ 145,037 | $ 85,000 |
| Fitchburg-Leominster, MA | 213 | $ 36,944,000 | $ 173,446 | $ 98,000 |
| Pittsfield, MA | 150 | $ 20,526,000 | $ 136,840 | $ 78,000 |
| Hartford, CT | 47 | $ 5,503,000 | $ 117,085 | $ 92,000 |
| Manchester, NH | 37 | $ 6,531,000 | $ 176,513 | $ 92,000 |
| Nashua, NH | 32 | $ 4,649,000 | $ 145,281 | $ 90,000 |
| Portsmouth-Rochester, NH-ME | 32 | $ 5,798,000 | $ 181,187 | $ 100,000 |
| Philadelphia, PA-NJ | 27 | $ 4,428,000 | $ 164,000 | $ 104,000 |
| New Haven-Meriden, CT | 6 | $ 762,000 | $ 127,000 | $ 53,000 |
| New London-Norwich, CT-RI | 6 | $ 969,000 | $ 161,500 | $ 109,000 |
| Portland, ME | 6 | $ 864,000 | $ 144,000 | $ 156,000 |
| Pittsburgh, PA | 5 | $ 322,000 | $ 64,400 | $ 37,000 |
| Danbury, CT | 3 | $ 358,000 | $ 119,333 | $ 129,000 |
| Fort Myers-Cape Coral, FL | 3 | $ 975,000 | $ 325,000 | $ 202,000 |
| Harrisburg-Lebanon-Carlisle, PA | 3 | $ 308,000 | $ 102,666 | $ 43,000 |
| Reading, PA | 3 | $ 318,000 | $ 106,000 | $ 74,000 |
| Stamford-Norwalk, CT | 3 | $ 621,000 | $ 207,000 | $ 462,000 |
| West Palm Beach-Boca Raton, FL | 3 | $ 910,000 | $ 303,333 | $ 2,445,000 |
| Bridgeport, CT | 2 | $ 788,000 | $ 394,000 | $ 209,000 |
| Middlesex-Somerset-Hunterdon, NJ | 2 | $ 450,000 | $ 225,000 | $ 119,000 |
| Wilmington-Newark, DE-MD | 2 | $ 218,000 | $ 109,000 | $ 44,000 |
| Albany-Schenectady-Troy, NY | 1 | $ 170,000 | $ 170,000 | $ 70,000 |
| Atlantic-Cape May, NJ | 1 | $ 107,000 | $ 107,000 | $ 190,000 |
| Bergen-Passaic, NJ | 1 | $ 486,000 | $ 486,000 | $ 900,000 |
| Dover, DE | 1 | $ 156,000 | $ 156,000 | $ 132,000 |
| Grand Junction, CO | 1 | $ 61,000 | $ 61,000 | $ 67,000 |
| Lakeland-Winter Haven, FL | 1 | $ 75,000 | $ 75,000 | $ 32,000 |
| Louisville, KY-IN | 1 | $ 100,000 | $ 100,000 | $ 33,000 |
| Melbourne-Titusville-Palm Bay, FL | 1 | $ 119,000 | $ 119,000 | $ 66,000 |
| Monmouth-Ocean, NJ | 1 | $ 165,000 | $ 165,000 | $ 54,000 |
| Newark, NJ | 1 | $ 200,000 | $ 200,000 | $ 144,000 |
| Orlando, FL | 1 | $ 190,000 | $ 190,000 | $ 96,000 |
| State College, PA | 1 | $ 178,000 | $ 178,000 | $ 81,000 |
| Waterbury, CT | 1 | $ 20,000 | $ 20,000 | $ 34,000 |
Mortgage Loan Application Detail Totals for Citizens Bank of Massachusetts 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) | 24,360 | $4,492,593,000 | $155,307 | $4,478,000 | $202,846 | $9,840,000 |
| Home Improvement (one-to-four family) | 3,959 | $480,798,000 | $126,222 | $3,400,000 | $91,555 | $3,936,000 |
| Home Purchase (one-to-four family) | 725 | $141,428,000 | $196,111 | $3,100,000 | $147,111 | $6,200,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 18 | $51,911,000 | $1,663,000 | $15,447,000 | $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 | 19,822 | $3,377,523,000 | $166,692 | $4,478,000 | $213,230 | $9,840,000 |
| Information not provided by applicant in mail or telephone application | 4,613 | $914,197,000 | $127,777 | $1,721,000 | $111,666 | $6,200,000 |
| Black | 1,459 | $234,421,000 | $139,600 | $1,000,000 | $63,400 | $744,000 |
| Hispanic | 1,242 | $219,358,000 | $160,833 | $908,000 | $92,166 | $2,742,000 |
| Asian or Pacific Islander | 1,200 | $232,862,000 | $122,600 | $1,420,000 | $84,200 | $1,624,000 |
| Other | 568 | $107,454,000 | $158,571 | $1,000,000 | $157,000 | $850,000 |
| American Indian or Alaskan Native | 126 | $19,614,000 | $100,800 | $525,000 | $78,200 | $240,000 |
| Not applicable | 32 | $61,301,000 | $1,129,000 | $15,447,000 | $112,000 | $2,316,000 |
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) | 29,061 | $5,166,698,000 | $155,692 | $15,447,000 | $167,307 | $9,840,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 15,032 | $2,665,550,000 | $195,555 | $15,447,000 | $408,000 | $6,902,000 |
| Application Denied By Financial Institution | 7,706 | $1,382,666,000 | $132,615 | $1,480,000 | $75,230 | $9,840,000 |
| Application Approved But Not Accepted | 4,220 | $747,769,000 | $144,428 | $1,100,000 | $97,428 | $3,672,000 |
| Loan Purchased By The Institution | 2,017 | $352,366,000 | $264,000 | $3,100,000 | $142,666 | $1,782,000 |
| Application Withdrawn By Applicant | 86 | $17,829,000 | $136,666 | $625,000 | $130,666 | $6,200,000 |
| File Closed For Incompleteness | 1 | $550,000 | $550,000 | $550,000 | $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 | 3,366 | $635,110,000 | $144,500 | $1,300,000 | $72,500 | $880,000 |
| Credit History | 2,885 | $452,204,000 | $118,333 | $1,000,000 | $68,111 | $2,880,000 |
| Other | 679 | $126,423,000 | $149,333 | $1,300,000 | $111,666 | $1,896,000 |
| Collateral | 469 | $103,943,000 | $152,250 | $1,480,000 | $91,250 | $9,840,000 |
| Credit Application Incomplete | 165 | $29,036,000 | $143,000 | $994,000 | $101,000 | $749,000 |
| Unverifiable Information | 119 | $31,557,000 | $158,800 | $1,000,000 | $89,000 | $1,740,000 |
| Employment History | 23 | $4,393,000 | $172,000 | $630,000 | $59,500 | $300,000 |
| 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 Citizens Bank of Massachusetts'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 Citizens Bank of Massachusetts'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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