Citizens Bank of Rhode Island Mortgage Lending & HMDA Data, 2004
In 2004, Citizens Bank of Rhode Island of Providence, RI reported 8,593 mortgage applications totaling $996.5 million, down 33% from 2003. The average application was for $115,961, and applicants reported an average income of $75,577. 57% of its applications resulted in an originated loan and 27% were denied. Its largest markets were Providence-New Bedford-Fall River, RI-MA (8,163), Boston-Quincy, MA (41) and Worcester, MA (38) (applications in parentheses).
| Mortgage Company & Address | Citizens Bank of Rhode Island One Citizens Plaza Providence, RI 02903 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 8,593 |
| Total Mortgage Loan Application Amount | $996,456,000 |
| Average Mortgage Loan Application Amount | $115,961 |
| Highest Mortgage Loan Application Amount | $4,850,000 |
| Average Applicant Income | $75,577 |
| Highest Applicant Income | $2,100,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Citizens Bank of Rhode Island filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Citizens Bank of Rhode Island 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 | 5,164 | $691,274,000 | $236,200 | $2,900,000 | $227,800 | $1,500,000 |
| Home Improvement | 2,866 | $196,282,000 | $76,555 | $3,000,000 | $67,666 | $2,100,000 |
| Home Purchase | 563 | $108,900,000 | $218,500 | $4,850,000 | $163,000 | $1,489,000 |
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 | 6,302 | $724,316,000 | $193,272 | $2,000,000 | $170,545 | $2,100,000 |
| Not Provided | 1,209 | $134,425,000 | $143,250 | $1,000,000 | $75,875 | $1,489,000 |
| Hispanic | 603 | $62,710,000 | $88,333 | $577,000 | $82,666 | $1,300,000 |
| Black or African American | 209 | $21,827,000 | $119,500 | $425,000 | $69,500 | $310,000 |
| Asian | 137 | $14,837,000 | $142,000 | $490,000 | $68,500 | $385,000 |
| Not applicable | 65 | $30,609,000 | $404,500 | $4,850,000 | $63,250 | $360,000 |
| Native Hawaiian or Other Pacific Islander | 35 | $3,945,000 | $64,000 | $218,000 | $41,500 | $148,000 |
| American Indian or Alaskan Native | 33 | $3,787,000 | $122,000 | $210,000 | $64,000 | $145,000 |
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) | 8,593 | $996,456,000 | $176,750 | $4,850,000 | $142,000 | $2,100,000 |
| 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 | 4,930 | $552,691,000 | $179,750 | $4,850,000 | $162,000 | $1,489,000 |
| Application Denied By Financial Institution | 2,324 | $253,762,000 | $138,111 | $1,000,000 | $72,666 | $2,100,000 |
| Application Approved But Not Accepted | 962 | $114,979,000 | $249,000 | $1,000,000 | $282,428 | $1,500,000 |
| Loan Purchased By The Institution | 363 | $73,162,000 | $297,000 | $2,000,000 | $130,333 | $721,000 |
| Application Withdrawn By Applicant | 14 | $1,862,000 | $95,666 | $328,000 | $79,000 | $325,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Credit History | 1,070 | $105,969,000 | $94,333 | $633,000 | $71,000 | $2,100,000 |
| Debt-To-Income Ratio | 772 | $83,357,000 | $189,200 | $917,000 | $69,400 | $362,000 |
| Collateral | 221 | $34,902,000 | $148,666 | $1,000,000 | $75,666 | $939,000 |
| Other | 201 | $19,786,000 | $157,000 | $645,000 | $97,333 | $1,365,000 |
| Unverifiable Information | 35 | $7,024,000 | $503,500 | $825,000 | $49,000 | $400,000 |
| Credit Application Incomplete | 21 | $2,554,000 | $106,500 | $420,000 | $74,000 | $264,000 |
| Employment History | 4 | $170,000 | $42,000 | $110,000 | $15,000 | $45,000 |
| 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 Rhode Island'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 Citizens Bank of Rhode Island'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 Rhode Island, download the full spreadsheet
with aggregated HMDA statistics today.
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