Fidelity Co-Operative Bank Mortgage Lending & HMDA Data, 2023
In 2023, Fidelity Co-Operative Bank of Leominster, MA reported 586 mortgage applications totaling $138.0 million, down 35% from 2022. The average application was for $235,443, and applicants reported an average income of $174,825. 64% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Worcester, MA-CT (386), Cambridge-Newton-Framingham, MA (94) and Boston, MA (37) (applications in parentheses).
| Mortgage Company & Address | Fidelity Co-Operative Bank 9 Leominster Connector Leominster, MA 01453 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 | 586 |
| Total Mortgage Loan Application Amount | $137,970,000 |
| Average Mortgage Loan Application Amount | $235,443 |
| Highest Mortgage Loan Application Amount | $21,005,000 |
| Average Applicant Income | $174,825 |
| Highest Applicant Income | $6,762,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Fidelity Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Worcester, MA-CT | 386 | $ 64,460,000 | $ 166,994 | $ 135,217 |
| Cambridge-Newton-Framingham, MA | 94 | $ 17,870,000 | $ 190,106 | $ 167,000 |
| Boston, MA | 37 | $ 17,145,000 | $ 463,378 | $ 550,000 |
| Outside any metro area | 33 | $ 10,185,000 | $ 308,636 | $ 134,787 |
| Barnstable Town, MA | 12 | $ 3,430,000 | $ 285,833 | $ 350,000 |
| Manchester-Nashua, NH | 12 | $ 1,630,000 | $ 135,833 | $ 174,000 |
| Springfield, MA | 9 | $ 22,235,000 | $ 2,470,555 | $ 187,000 |
| Providence-Warwick, RI-MA | 2 | $ 920,000 | $ 460,000 | $ 1,004,000 |
| Sacramento--Roseville--Arden-Arcade, CA | 1 | $ 95,000 | $ 95,000 | $ 59,000 |
Mortgage Loan Application Detail Totals for Fidelity 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 | 165 | $86,415,000 | $523,000 | $21,005,000 | $254,000 | $6,762,000 |
| Home Improvement | 163 | $16,295,000 | $99,000 | $445,000 | $143,000 | $1,864,000 |
| Cash-out Refinancing | 122 | $20,380,000 | $167,000 | $845,000 | $159,000 | $1,840,000 |
| Other Purpose | 117 | $12,245,000 | $104,000 | $405,000 | $136,000 | $473,000 |
| Refinancing | 19 | $2,635,000 | $138,000 | $375,000 | $101,000 | $250,000 |
| 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 | 469 | $83,675,000 | $178,000 | $1,465,000 | $149,000 | $1,864,000 |
| Not Provided | 58 | $21,060,000 | $363,000 | $6,005,000 | $423,000 | $6,762,000 |
| Hispanic | 24 | $5,390,000 | $224,000 | $845,000 | $142,000 | $336,000 |
| Black or African American | 20 | $3,770,000 | $188,000 | $585,000 | $119,000 | $193,000 |
| Asian | 10 | $2,290,000 | $229,000 | $605,000 | $128,000 | $256,000 |
| Not applicable | 3 | $21,225,000 | $7,075,000 | $21,005,000 | $0 | $0 |
| American Indian or Alaskan Native | 1 | $355,000 | $355,000 | $355,000 | $97,000 | $97,000 |
| 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) | 586 | $137,970,000 | $235,000 | $21,005,000 | $175,000 | $6,762,000 |
| 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 | 377 | $79,945,000 | $212,000 | $21,005,000 | $166,000 | $1,864,000 |
| Application Denied By Financial Institution | 95 | $15,385,000 | $161,000 | $1,465,000 | $101,000 | $367,000 |
| Preapproval Approved but not Accepted | 46 | $18,960,000 | $412,000 | $1,325,000 | $161,000 | $983,000 |
| Application Withdrawn By Applicant | 35 | $16,415,000 | $469,000 | $6,005,000 | $491,000 | $6,762,000 |
| Application Approved But Not Accepted | 21 | $4,895,000 | $233,000 | $905,000 | $190,000 | $368,000 |
| File Closed For Incompleteness | 7 | $945,000 | $135,000 | $255,000 | $101,000 | $150,000 |
| Preapproval Denied by Financial Institution | 5 | $1,425,000 | $285,000 | $385,000 | $110,000 | $199,000 |
| Loan Purchased By The 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 | 486 | $121,160,000 | $249,000 | $21,005,000 | $190,000 | $6,762,000 |
| Debt-To-Income Ratio | 54 | $10,060,000 | $186,000 | $845,000 | $75,000 | $205,000 |
| Credit History | 35 | $3,825,000 | $109,000 | $405,000 | $120,000 | $367,000 |
| Collateral | 9 | $2,245,000 | $249,000 | $1,465,000 | $163,000 | $359,000 |
| Other | 2 | $680,000 | $340,000 | $355,000 | $196,000 | $198,000 |
| Unverifiable Information | 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 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Fidelity 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 Fidelity 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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