Everett Co-Operative Bank Mortgage Lending & HMDA Data, 2005
In 2005, Everett Co-Operative Bank of Everett, MA reported 129 mortgage applications totaling $35.8 million, down 39% from 2004. The average application was for $277,899, and applicants reported an average income of $88,961. 88% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (74), Essex County, MA (33) and Boston-Quincy, MA (19) (applications in parentheses).
| Mortgage Company & Address | Everett Co-Operative Bank 419 Broadway Everett, MA 02149 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 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 129 |
| Total Mortgage Loan Application Amount | $35,849,000 |
| Average Mortgage Loan Application Amount | $277,899 |
| Highest Mortgage Loan Application Amount | $4,000,000 |
| Average Applicant Income | $88,961 |
| Highest Applicant Income | $741,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Everett Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Cambridge-Newton-Framingham, MA | 74 | $ 16,550,000 | $ 223,648 | $ 77,000 |
| Essex County, MA | 33 | $ 8,500,000 | $ 257,575 | $ 98,000 |
| Boston-Quincy, MA | 19 | $ 8,449,000 | $ 444,684 | $ 93,000 |
| Portland-South Portland-Biddeford, ME | 1 | $ 200,000 | $ 200,000 | $ 117,000 |
| Rockingham County-Strafford County, NH | 1 | $ 150,000 | $ 150,000 | $ 0 |
Mortgage Loan Application Detail Totals for Everett Co-Operative Bank 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 50 | $17,352,000 | $523,000 | $2,000,000 | $77,000 | $405,000 |
| Refinancing | 44 | $14,907,000 | $338,000 | $4,000,000 | $86,000 | $741,000 |
| Home Improvement | 35 | $3,590,000 | $102,000 | $480,000 | $105,000 | $295,000 |
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 | 116 | $30,619,000 | $500,000 | $4,000,000 | $83,000 | $741,000 |
| Asian | 5 | $1,618,000 | $323,000 | $425,000 | $85,000 | $160,000 |
| Black or African American | 5 | $1,152,000 | $230,000 | $364,000 | $90,000 | $216,000 |
| Not applicable | 2 | $2,200,000 | $1,100,000 | $1,350,000 | $0 | $0 |
| Hispanic | 1 | $260,000 | $260,000 | $260,000 | $35,000 | $35,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 129 | $35,849,000 | $505,000 | $4,000,000 | $79,333 | $741,000 |
| 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 | 113 | $31,268,000 | $504,000 | $4,000,000 | $75,000 | $741,000 |
| Application Approved But Not Accepted | 7 | $1,872,000 | $267,000 | $508,000 | $83,000 | $155,000 |
| Application Denied By Financial Institution | 4 | $1,398,000 | $349,000 | $500,000 | $143,000 | $334,000 |
| Application Withdrawn By Applicant | 3 | $751,000 | $250,000 | $364,000 | $100,000 | $216,000 |
| File Closed For Incompleteness | 2 | $560,000 | $280,000 | $310,000 | $86,000 | $98,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 2 | $580,000 | $290,000 | $300,000 | $94,000 | $116,000 |
| Debt-To-Income Ratio | 1 | $318,000 | $318,000 | $318,000 | $52,000 | $52,000 |
| Collateral | 1 | $500,000 | $500,000 | $500,000 | $334,000 | $334,000 |
| 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 Everett Co-Operative Bank'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 Everett 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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