Commonwealth Co-Operative Bank Mortgage Lending & HMDA Data, 2017
In 2017, Commonwealth Co-Operative Bank of Hyde Park, MA reported 72 mortgage applications totaling $39.1 million. The average application was for $542,819, and applicants reported an average income of $144,263. 74% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Boston, MA (58), Cambridge-Newton-Framingham, MA (7) and Barnstable Town, MA (2) (applications in parentheses).
| Mortgage Company & Address | Commonwealth Co-Operative Bank 1172 River Street Hyde Park, MA 02136 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 |
| Total Number of Mortgage Applications | 72 |
| Total Mortgage Loan Application Amount | $39,083,000 |
| Average Mortgage Loan Application Amount | $542,819 |
| Highest Mortgage Loan Application Amount | $1,941,000 |
| Average Applicant Income | $144,263 |
| Highest Applicant Income | $803,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Commonwealth Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 58 | $ 30,490,000 | $ 525,689 | $ 134,000 |
| Cambridge-Newton-Framingham, MA | 7 | $ 4,867,000 | $ 695,285 | $ 251,000 |
| Barnstable Town, MA | 2 | $ 495,000 | $ 247,500 | $ 74,000 |
| Providence-Warwick, RI-MA | 1 | $ 125,000 | $ 125,000 | $ 53,000 |
| Rockingham County-Strafford County, NH | 1 | $ 1,050,000 | $ 1,050,000 | $ 0 |
Mortgage Loan Application Detail Totals for Commonwealth Co-Operative Bank in 2017
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 | 37 | $24,032,000 | $649,000 | $1,941,000 | $141,000 | $803,000 |
| Home Improvement | 18 | $7,396,000 | $410,000 | $1,294,000 | $121,000 | $689,000 |
| Refinancing | 17 | $7,655,000 | $450,000 | $871,000 | $176,000 | $311,000 |
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 |
|---|---|---|---|---|---|---|
| Not applicable | 35 | $25,476,000 | $727,000 | $1,941,000 | $82,000 | $548,000 |
| White | 21 | $7,726,000 | $367,000 | $871,000 | $261,000 | $803,000 |
| Not Provided | 8 | $3,897,000 | $487,000 | $800,000 | $176,000 | $311,000 |
| Black or African American | 5 | $1,152,000 | $230,000 | $361,000 | $68,000 | $89,000 |
| Hispanic | 3 | $832,000 | $277,000 | $457,000 | $104,000 | $157,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 72 | $39,083,000 | $542,000 | $1,941,000 | $144,000 | $803,000 |
| 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 | 53 | $27,328,000 | $515,000 | $1,941,000 | $125,000 | $803,000 |
| Loan Purchased By The Institution | 11 | $7,764,000 | $705,000 | $900,000 | $262,000 | $548,000 |
| Application Approved But Not Accepted | 3 | $2,140,000 | $713,000 | $1,000,000 | $149,000 | $384,000 |
| Application Denied By Financial Institution | 3 | $1,011,000 | $337,000 | $457,000 | $88,000 | $91,000 |
| Application Withdrawn By Applicant | 2 | $840,000 | $420,000 | $575,000 | $101,000 | $105,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Commonwealth Co-Operative Bank's 2017 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 Commonwealth Co-Operative Bank'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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