Everett Co-Operative Bank Mortgage Lending & HMDA Data, 2023
In 2023, Everett Co-Operative Bank of Everett, MA reported 309 mortgage applications totaling $240.7 million, down 26% from 2022. The average application was for $778,883, and applicants reported an average income of $285,504. 68% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (200), Boston, MA (75) and Barnstable Town, MA (17) (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 | 309 |
| Total Mortgage Loan Application Amount | $240,675,000 |
| Average Mortgage Loan Application Amount | $778,883 |
| Highest Mortgage Loan Application Amount | $8,585,000 |
| Average Applicant Income | $285,504 |
| Highest Applicant Income | $5,085,000 |
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records Everett Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 200 | $ 135,890,000 | $ 679,450 | $ 240,000 |
| Boston, MA | 75 | $ 81,175,000 | $ 1,082,333 | $ 461,000 |
| Barnstable Town, MA | 17 | $ 7,345,000 | $ 432,058 | $ 261,000 |
| Manchester-Nashua, NH | 4 | $ 4,360,000 | $ 1,090,000 | $ 137,000 |
| Rockingham County-Strafford County, NH | 4 | $ 2,120,000 | $ 530,000 | $ 112,000 |
| Portland-South Portland, ME | 3 | $ 1,005,000 | $ 335,000 | $ 185,000 |
| Outside any metro area | 2 | $ 1,480,000 | $ 740,000 | $ 374,000 |
| Providence-Warwick, RI-MA | 2 | $ 470,000 | $ 235,000 | $ 172,000 |
| Springfield, MA | 1 | $ 425,000 | $ 425,000 | $ 136,000 |
| Worcester, MA-CT | 1 | $ 6,405,000 | $ 6,405,000 | $ 0 |
Mortgage Loan Application Detail Totals for Everett Co-Operative Bank in 2023
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 | 126 | $123,760,000 | $982,000 | $8,585,000 | $299,000 | $1,200,000 |
| Other Purpose | 66 | $11,940,000 | $180,000 | $755,000 | $175,000 | $579,000 |
| Cash-out Refinancing | 53 | $25,065,000 | $472,000 | $1,655,000 | $321,000 | $5,085,000 |
| Refinancing | 40 | $64,590,000 | $1,614,000 | $7,505,000 | $426,000 | $1,418,000 |
| Home Improvement | 24 | $15,320,000 | $638,000 | $6,355,000 | $206,000 | $804,000 |
| Not Applicable | 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 | 177 | $74,275,000 | $419,000 | $2,005,000 | $267,000 | $5,085,000 |
| Not applicable | 68 | $135,550,000 | $1,993,000 | $8,585,000 | $0 | $0 |
| Not Provided | 27 | $12,305,000 | $455,000 | $1,165,000 | $371,000 | $1,200,000 |
| Hispanic | 18 | $5,350,000 | $297,000 | $1,055,000 | $182,000 | $376,000 |
| Asian | 12 | $8,480,000 | $706,000 | $1,655,000 | $338,000 | $540,000 |
| Black or African American | 4 | $2,080,000 | $520,000 | $1,275,000 | $246,000 | $311,000 |
| American Indian or Alaskan Native | 1 | $355,000 | $355,000 | $355,000 | $96,000 | $96,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 309 | $240,675,000 | $778,000 | $8,585,000 | $275,000 | $5,085,000 |
| 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 | 209 | $166,455,000 | $796,000 | $7,505,000 | $258,000 | $5,085,000 |
| Application Denied By Financial Institution | 38 | $18,770,000 | $493,000 | $3,475,000 | $269,000 | $1,269,000 |
| Application Withdrawn By Applicant | 36 | $35,010,000 | $972,000 | $8,585,000 | $287,000 | $1,200,000 |
| Loan Purchased By The Institution | 18 | $12,930,000 | $718,000 | $1,875,000 | $422,000 | $1,418,000 |
| Application Approved But Not Accepted | 7 | $7,145,000 | $1,020,000 | $4,205,000 | $133,000 | $194,000 |
| File Closed For Incompleteness | 1 | $365,000 | $365,000 | $365,000 | $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 | 309 | $240,675,000 | $778,000 | $8,585,000 | $275,000 | $5,085,000 |
| 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 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 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 Everett Co-Operative Bank's 2023 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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