Columbus Credit Union Mortgage Lending & HMDA Data, 2006
In 2006, Columbus Credit Union of Warren, RI reported 220 mortgage applications totaling $40.7 million, down 6% from 2005. The average application was for $185,086, and applicants reported an average income of $80,613. 85% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Providence-New Bedford-Fall River, RI-MA (208), Boston-Quincy, MA (3) and Camden, NJ (1) (applications in parentheses).
| Mortgage Company & Address | Columbus Credit Union 560 Main Street Warren, RI 02885 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 220 |
| Total Mortgage Loan Application Amount | $40,719,000 |
| Average Mortgage Loan Application Amount | $185,086 |
| Highest Mortgage Loan Application Amount | $1,750,000 |
| Average Applicant Income | $80,613 |
| Highest Applicant Income | $463,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Columbus Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Bristol, Rhode Island | 111 | $ 20,738,000 | $ 186,828 | $ 78,000 |
| Providence, Rhode Island | 51 | $ 8,563,000 | $ 167,901 | $ 83,000 |
| Bristol, Massachusetts | 19 | $ 3,821,000 | $ 201,105 | $ 71,000 |
| Kent, Rhode Island | 11 | $ 1,599,000 | $ 145,363 | $ 55,000 |
| Newport, Rhode Island | 11 | $ 2,563,000 | $ 233,000 | $ 67,000 |
| Washington, Rhode Island | 5 | $ 991,000 | $ 198,200 | $ 55,000 |
| Plymouth, Massachusetts | 3 | $ 557,000 | $ 185,666 | $ 35,000 |
| Carroll, New Hampshire | 2 | $ 538,000 | $ 269,000 | $ 372,000 |
| New London, Connecticut | 1 | $ 372,000 | $ 372,000 | $ 202,000 |
| Lee, Florida | 1 | $ 417,000 | $ 417,000 | $ 463,000 |
| Essex, Massachusetts | 1 | $ 33,000 | $ 33,000 | $ 52,000 |
| Hampden, Massachusetts | 1 | $ 92,000 | $ 92,000 | $ 37,000 |
| Worcester, Massachusetts | 1 | $ 75,000 | $ 75,000 | $ 0 |
| Gloucester, New Jersey | 1 | $ 210,000 | $ 210,000 | $ 123,000 |
| Washington, New York | 1 | $ 150,000 | $ 150,000 | $ 142,000 |
Mortgage Loan Application Detail Totals for Columbus Credit Union in 2006
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 98 | $23,381,000 | $238,000 | $1,000,000 | $89,000 | $378,000 |
| Refinancing | 69 | $15,650,000 | $226,000 | $1,750,000 | $83,000 | $463,000 |
| Home Improvement | 53 | $1,688,000 | $31,000 | $82,000 | $62,000 | $164,000 |
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 | 213 | $39,321,000 | $184,000 | $1,750,000 | $82,000 | $463,000 |
| Asian | 3 | $516,000 | $172,000 | $266,000 | $42,000 | $63,000 |
| Hispanic | 2 | $581,000 | $290,000 | $388,000 | $83,000 | $130,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $223,000 | $223,000 | $223,000 | $47,000 | $47,000 |
| Black or African American | 1 | $78,000 | $78,000 | $78,000 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 219 | $40,446,000 | $184,000 | $1,750,000 | $81,000 | $463,000 |
| VA-guaranteed (Veterans Administration) | 1 | $273,000 | $273,000 | $273,000 | $71,000 | $71,000 |
| 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 |
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 | 186 | $33,606,000 | $180,000 | $1,750,000 | $78,000 | $463,000 |
| Application Withdrawn By Applicant | 29 | $6,153,000 | $212,000 | $485,000 | $92,000 | $378,000 |
| Application Denied By Financial Institution | 5 | $960,000 | $192,000 | $260,000 | $91,000 | $150,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 1 | $241,000 | $241,000 | $241,000 | $61,000 | $61,000 |
| Collateral | 1 | $150,000 | $150,000 | $150,000 | $142,000 | $142,000 |
| Other | 1 | $158,000 | $158,000 | $158,000 | $65,000 | $65,000 |
| Unverifiable Information | 1 | $151,000 | $151,000 | $151,000 | $40,000 | $40,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 Columbus Credit Union's 2006 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 Columbus Credit Union'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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