Enfield Federal Savings& Loan Mortgage Lending & HMDA Data, 2007
In 2007, Enfield Federal Savings& Loan of Enfield, CT reported 177 mortgage applications totaling $22.2 million, down 29% from 2006. The average application was for $125,627, and applicants reported an average income of $77,672. 59% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (129), Providence-New Bedford-Fall River, RI-MA (9) and Norwich-New London, CT (6) (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 | 177 |
| Total Mortgage Loan Application Amount | $22,236,000 |
| Average Mortgage Loan Application Amount | $125,627 |
| Highest Mortgage Loan Application Amount | $700,000 |
| Average Applicant Income | $77,672 |
| Highest Applicant Income | $600,000 |
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records Enfield Federal Savings& Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Enfield Federal Savings& Loan in 2007
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 | 103 | $14,155,000 | $137,000 | $700,000 | $74,000 | $600,000 |
| Refinancing | 60 | $7,174,000 | $119,000 | $473,000 | $86,000 | $598,000 |
| Home Improvement | 14 | $907,000 | $64,000 | $206,000 | $69,000 | $116,000 |
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 | 154 | $18,411,000 | $119,000 | $700,000 | $82,000 | $600,000 |
| Not Provided | 6 | $473,000 | $78,000 | $230,000 | $54,000 | $101,000 |
| Asian | 5 | $978,000 | $195,000 | $304,000 | $66,000 | $138,000 |
| Black or African American | 5 | $780,000 | $156,000 | $194,000 | $51,000 | $62,000 |
| Not applicable | 4 | $1,070,000 | $267,000 | $435,000 | $0 | $0 |
| Hispanic | 3 | $524,000 | $174,000 | $383,000 | $70,000 | $139,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 177 | $22,236,000 | $125,000 | $700,000 | $78,000 | $600,000 |
| 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 | 104 | $16,184,000 | $155,000 | $700,000 | $92,000 | $600,000 |
| Loan Purchased By The Institution | 48 | $2,471,000 | $51,000 | $153,000 | $45,000 | $103,000 |
| Application Withdrawn By Applicant | 13 | $1,790,000 | $137,000 | $206,000 | $94,000 | $224,000 |
| Application Denied By Financial Institution | 11 | $1,749,000 | $159,000 | $315,000 | $66,000 | $101,000 |
| File Closed For Incompleteness | 1 | $42,000 | $42,000 | $42,000 | $95,000 | $95,000 |
| Application Approved But Not Accepted | 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 | 4 | $713,000 | $178,000 | $230,000 | $91,000 | $101,000 |
| Debt-To-Income Ratio | 3 | $345,000 | $115,000 | $135,000 | $44,000 | $73,000 |
| Mortgage Insurance Denied | 2 | $301,000 | $150,000 | $160,000 | $58,000 | $66,000 |
| Unverifiable Information | 2 | $390,000 | $195,000 | $315,000 | $61,000 | $87,000 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Enfield Federal Savings& Loan's 2007 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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