Drew Mortgage Associates, Inc Mortgage Lending & HMDA Data, 2024
In 2024, Drew Mortgage Associates, Inc of Shrewsbury, MA reported 243 mortgage applications totaling $110.6 million, down 2% from 2023. The average application was for $455,041, and applicants reported an average income of $183,967. 81% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Worcester, MA-CT (100), Cambridge-Newton-Framingham, MA (72) and Boston, MA (22) (applications in parentheses).
| Mortgage Company & Address | Drew Mortgage Associates, Inc 196 Boston Tpke Shrewsbury, MA 01545 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 |
| Total Number of Mortgage Applications | 243 |
| Total Mortgage Loan Application Amount | $110,575,000 |
| Average Mortgage Loan Application Amount | $455,041 |
| Highest Mortgage Loan Application Amount | $3,165,000 |
| Average Applicant Income | $183,967 |
| Highest Applicant Income | $2,958,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Drew Mortgage Associates, Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Drew Mortgage Associates, Inc in 2024
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 | 168 | $84,350,000 | $502,000 | $3,165,000 | $179,000 | $971,000 |
| Refinancing | 73 | $25,755,000 | $352,000 | $915,000 | $196,000 | $2,958,000 |
| Cash-out Refinancing | 2 | $470,000 | $235,000 | $315,000 | $162,000 | $250,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $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 | 207 | $94,625,000 | $457,000 | $3,165,000 | $188,000 | $2,958,000 |
| Asian | 13 | $6,605,000 | $508,000 | $745,000 | $175,000 | $650,000 |
| Black or African American | 11 | $4,285,000 | $389,000 | $815,000 | $149,000 | $324,000 |
| Hispanic | 11 | $4,595,000 | $417,000 | $915,000 | $144,000 | $237,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $465,000 | $465,000 | $465,000 | $132,000 | $132,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 207 | $93,585,000 | $452,000 | $3,165,000 | $192,000 | $2,958,000 |
| FHA-insured (Federal Housing Administration) | 29 | $13,025,000 | $449,000 | $875,000 | $131,000 | $238,000 |
| VA-guaranteed (Veterans Administration) | 7 | $3,965,000 | $566,000 | $915,000 | $151,000 | $336,000 |
| 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 | 198 | $85,950,000 | $434,000 | $1,225,000 | $179,000 | $2,958,000 |
| Application Withdrawn By Applicant | 24 | $17,030,000 | $709,000 | $3,165,000 | $264,000 | $971,000 |
| Application Denied By Financial Institution | 13 | $4,655,000 | $358,000 | $665,000 | $126,000 | $226,000 |
| File Closed For Incompleteness | 6 | $2,620,000 | $436,000 | $755,000 | $144,000 | $364,000 |
| Application Approved But Not Accepted | 2 | $320,000 | $160,000 | $205,000 | $166,000 | $256,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 230 | $105,920,000 | $460,000 | $3,165,000 | $187,000 | $2,958,000 |
| Other | 4 | $1,530,000 | $382,000 | $665,000 | $163,000 | $226,000 |
| Unverifiable Information | 3 | $895,000 | $298,000 | $335,000 | $86,000 | $106,000 |
| Collateral | 3 | $1,125,000 | $375,000 | $405,000 | $133,000 | $226,000 |
| Debt-To-Income Ratio | 2 | $630,000 | $315,000 | $355,000 | $60,000 | $62,000 |
| Employment History | 1 | $475,000 | $475,000 | $475,000 | $216,000 | $216,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Drew Mortgage Associates, Inc's 2024 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 Drew Mortgage Associates, Inc'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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