Fall River Five Cents Savings Mortgage Lending & HMDA Data, 2022
In 2022, Fall River Five Cents Savings of Fall River, MA reported 1,644 mortgage applications totaling $616.0 million, down 28% from 2021. The average application was for $374,695, and applicants reported an average income of $176,211. 75% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Providence-Warwick, RI-MA (835), Cambridge-Newton-Framingham, MA (283) and Boston, MA (275) (applications in parentheses).
| Mortgage Company & Address | Fall River Five Cents Savings 79 North Main St Fall River, MA 02720 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 |
| Total Number of Mortgage Applications | 1,644 |
| Total Mortgage Loan Application Amount | $616,000,000 |
| Average Mortgage Loan Application Amount | $374,695 |
| Highest Mortgage Loan Application Amount | $10,125,000 |
| Average Applicant Income | $176,211 |
| Highest Applicant Income | $2,710,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Fall River Five Cents Savings filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Fall River Five Cents Savings in 2022
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 | 727 | $373,315,000 | $513,000 | $3,005,000 | $192,000 | $2,710,000 |
| Cash-out Refinancing | 306 | $114,860,000 | $375,000 | $2,105,000 | $160,000 | $1,528,000 |
| Home Improvement | 306 | $48,800,000 | $159,000 | $10,125,000 | $148,000 | $1,710,000 |
| Other Purpose | 186 | $31,050,000 | $166,000 | $1,265,000 | $173,000 | $999,000 |
| Refinancing | 119 | $47,975,000 | $403,000 | $1,955,000 | $199,000 | $2,579,000 |
| 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 | 1,085 | $364,435,000 | $335,000 | $4,565,000 | $175,000 | $2,710,000 |
| Not Provided | 197 | $85,565,000 | $434,000 | $1,955,000 | $210,000 | $2,100,000 |
| Hispanic | 181 | $73,395,000 | $405,000 | $1,005,000 | $126,000 | $556,000 |
| Asian | 62 | $29,290,000 | $472,000 | $1,565,000 | $208,000 | $667,000 |
| Not applicable | 55 | $40,195,000 | $730,000 | $10,125,000 | $0 | $0 |
| Black or African American | 41 | $11,725,000 | $285,000 | $1,505,000 | $127,000 | $258,000 |
| American Indian or Alaskan Native | 13 | $4,205,000 | $323,000 | $1,265,000 | $239,000 | $1,632,000 |
| 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) | 1,576 | $584,390,000 | $370,000 | $10,125,000 | $179,000 | $2,710,000 |
| FHA-insured (Federal Housing Administration) | 64 | $30,060,000 | $469,000 | $775,000 | $107,000 | $192,000 |
| VA-guaranteed (Veterans Administration) | 4 | $1,550,000 | $387,000 | $565,000 | $111,000 | $181,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 1,225 | $478,665,000 | $390,000 | $10,125,000 | $176,000 | $2,710,000 |
| Application Denied By Financial Institution | 170 | $33,140,000 | $194,000 | $1,955,000 | $136,000 | $2,251,000 |
| Application Withdrawn By Applicant | 141 | $60,325,000 | $427,000 | $2,005,000 | $219,000 | $2,100,000 |
| Application Approved But Not Accepted | 55 | $23,625,000 | $429,000 | $1,725,000 | $208,000 | $2,579,000 |
| File Closed For Incompleteness | 53 | $20,245,000 | $381,000 | $1,505,000 | $145,000 | $376,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 1,474 | $582,860,000 | $395,000 | $10,125,000 | $181,000 | $2,710,000 |
| Debt-To-Income Ratio | 85 | $16,375,000 | $192,000 | $715,000 | $78,000 | $511,000 |
| Collateral | 34 | $10,010,000 | $294,000 | $1,955,000 | $178,000 | $901,000 |
| Other | 24 | $2,580,000 | $107,000 | $465,000 | $128,000 | $780,000 |
| Credit History | 24 | $2,870,000 | $119,000 | $405,000 | $284,000 | $2,251,000 |
| Unverifiable Information | 1 | $405,000 | $405,000 | $405,000 | $272,000 | $272,000 |
| Employment History | 1 | $475,000 | $475,000 | $475,000 | $75,000 | $75,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $425,000 | $425,000 | $425,000 | $99,000 | $99,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Fall River Five Cents Savings's 2022 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 Fall River Five Cents Savings'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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