Enfield Federal Savings& Loan Mortgage Lending & HMDA Data, 2005
In 2005, Enfield Federal Savings& Loan of Enfield, CT reported 228 mortgage applications totaling $24.0 million, up 24% from 2004. The average application was for $105,179, and applicants reported an average income of $80,574. 90% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (217), Springfield, MA (9) and Norwich-New London, CT (1) (applications in parentheses).
| Mortgage Company & Address | Enfield Federal Savings& Loan 855 Enfieldstreet Enfield, CT 06082 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 228 |
| Total Mortgage Loan Application Amount | $23,981,000 |
| Average Mortgage Loan Application Amount | $105,179 |
| Highest Mortgage Loan Application Amount | $357,000 |
| Average Applicant Income | $80,574 |
| Highest Applicant Income | $1,248,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Enfield Federal Savings& Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Hartford-West Hartford-East Hartford, CT | 217 | $ 22,090,000 | $ 101,797 | $ 80,000 |
| Springfield, MA | 9 | $ 1,678,000 | $ 186,444 | $ 80,000 |
| Norwich-New London, CT | 1 | $ 76,000 | $ 76,000 | $ 71,000 |
Mortgage Loan Application Detail Totals for Enfield Federal Savings& Loan in 2005
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 | 90 | $9,713,000 | $133,000 | $357,000 | $85,000 | $321,000 |
| Home Improvement | 79 | $3,730,000 | $71,666 | $150,000 | $99,333 | $1,248,000 |
| Home Purchase | 59 | $10,538,000 | $211,000 | $338,000 | $88,000 | $226,000 |
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 | 217 | $22,333,000 | $140,666 | $357,000 | $106,666 | $1,248,000 |
| Asian | 3 | $210,000 | $70,000 | $105,000 | $74,000 | $98,000 |
| Black or African American | 3 | $502,000 | $167,000 | $170,000 | $96,000 | $103,000 |
| Not Provided | 2 | $315,000 | $157,000 | $280,000 | $162,000 | $162,000 |
| Hispanic | 1 | $230,000 | $230,000 | $230,000 | $18,000 | $18,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $68,000 | $68,000 | $68,000 | $110,000 | $110,000 |
| Not applicable | 1 | $323,000 | $323,000 | $323,000 | $113,000 | $113,000 |
| 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) | 228 | $23,981,000 | $141,333 | $357,000 | $108,333 | $1,248,000 |
| 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 | 205 | $21,663,000 | $141,333 | $357,000 | $114,000 | $1,248,000 |
| Application Withdrawn By Applicant | 13 | $1,232,000 | $94,000 | $250,000 | $76,000 | $133,000 |
| Application Denied By Financial Institution | 10 | $1,086,000 | $108,000 | $246,000 | $55,000 | $141,000 |
| 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 | 5 | $708,000 | $141,000 | $246,000 | $46,000 | $68,000 |
| Collateral | 3 | $185,000 | $61,000 | $100,000 | $79,000 | $141,000 |
| Credit History | 2 | $193,000 | $96,000 | $173,000 | $52,000 | $59,000 |
| Credit Application Incomplete | 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 Enfield Federal Savings& Loan's 2005 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 Enfield Federal Savings& Loan'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.
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