Everett Co-Operative Bank Mortgage Lending & HMDA Data, 2024
In 2024, Everett Co-Operative Bank of Everett, MA reported 247 mortgage applications totaling $195.8 million, down 20% from 2023. The average application was for $792,813, and applicants reported an average income of $235,336. 73% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (157), Boston, MA (67) and Worcester, MA-CT (7) (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 | 247 |
| Total Mortgage Loan Application Amount | $195,825,000 |
| Average Mortgage Loan Application Amount | $792,813 |
| Highest Mortgage Loan Application Amount | $9,605,000 |
| Average Applicant Income | $235,336 |
| Highest Applicant Income | $984,000 |
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records Everett Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 157 | $ 117,935,000 | $ 751,178 | $ 227,000 |
| Boston, MA | 67 | $ 61,855,000 | $ 923,208 | $ 225,000 |
| Worcester, MA-CT | 7 | $ 10,175,000 | $ 1,453,571 | $ 169,000 |
| Outside any metro area | 4 | $ 1,890,000 | $ 472,500 | $ 890,000 |
| Portland-South Portland, ME | 4 | $ 1,710,000 | $ 427,500 | $ 324,000 |
| Rockingham County-Strafford County, NH | 4 | $ 1,070,000 | $ 267,500 | $ 131,000 |
| Providence-Warwick, RI-MA | 2 | $ 480,000 | $ 240,000 | $ 158,000 |
| Barnstable Town, MA | 1 | $ 155,000 | $ 155,000 | $ 196,000 |
| Springfield, MA | 1 | $ 555,000 | $ 555,000 | $ 500,000 |
Mortgage Loan Application Detail Totals for Everett Co-Operative Bank 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 |
|---|---|---|---|---|---|---|
| Cash-out Refinancing | 72 | $32,810,000 | $455,000 | $1,565,000 | $234,000 | $768,000 |
| Home Purchase | 64 | $79,040,000 | $1,235,000 | $9,605,000 | $302,000 | $975,000 |
| Other Purpose | 53 | $9,805,000 | $185,000 | $615,000 | $205,000 | $984,000 |
| Home Improvement | 37 | $31,045,000 | $839,000 | $7,005,000 | $206,000 | $464,000 |
| Refinancing | 21 | $43,125,000 | $2,053,000 | $8,505,000 | $165,000 | $291,000 |
| 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 | 126 | $47,140,000 | $374,000 | $1,685,000 | $221,000 | $984,000 |
| Not applicable | 67 | $124,805,000 | $1,862,000 | $9,605,000 | $0 | $0 |
| Not Provided | 30 | $11,430,000 | $381,000 | $1,275,000 | $273,000 | $854,000 |
| Asian | 12 | $9,030,000 | $752,000 | $1,765,000 | $332,000 | $500,000 |
| Hispanic | 12 | $3,420,000 | $285,000 | $825,000 | $229,000 | $975,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 247 | $195,825,000 | $792,000 | $9,605,000 | $237,000 | $984,000 |
| 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 | 181 | $162,315,000 | $896,000 | $9,605,000 | $246,000 | $984,000 |
| Application Denied By Financial Institution | 33 | $13,075,000 | $396,000 | $1,255,000 | $194,000 | $719,000 |
| Application Withdrawn By Applicant | 18 | $10,360,000 | $575,000 | $1,765,000 | $197,000 | $473,000 |
| Application Approved But Not Accepted | 8 | $5,120,000 | $640,000 | $1,475,000 | $114,000 | $135,000 |
| Loan Purchased By The Institution | 4 | $3,190,000 | $797,000 | $1,685,000 | $542,000 | $854,000 |
| File Closed For Incompleteness | 3 | $1,765,000 | $588,000 | $1,105,000 | $122,000 | $122,000 |
| 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 | 247 | $195,825,000 | $792,000 | $9,605,000 | $237,000 | $984,000 |
| 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 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 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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