Rollstone Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, Rollstone Bank & Trust of Fitchburg, MA reported 551 mortgage applications totaling $83.7 million. The average application was for $151,831, and applicants reported an average income of $75,863. 87% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Fitchburg-Leominster, MA (377), Boston, MA-NH (77) and Lowell, MA-NH (17) (applications in parentheses).
| Mortgage Company & Address | Rollstone Bank & Trust 780 Main Street Fitchburg, MA 01420 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 551 |
| Total Mortgage Loan Application Amount | $83,659,000 |
| Average Mortgage Loan Application Amount | $151,831 |
| Highest Mortgage Loan Application Amount | $2,030,000 |
| Average Applicant Income | $75,863 |
| Highest Applicant Income | $696,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Rollstone Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Worcester, Massachusetts | 410 | $ 63,216,000 | $ 154,185 | $ 63,000 |
| Middlesex, Massachusetts | 100 | $ 14,370,000 | $ 143,700 | $ 87,000 |
| Hillsborough, New Hampshire | 18 | $ 2,729,000 | $ 151,611 | $ 70,000 |
| Cheshire, New Hampshire | 15 | $ 2,196,000 | $ 146,400 | $ 63,000 |
| Franklin, Massachusetts | 5 | $ 499,000 | $ 99,800 | $ 52,000 |
| Barnstable, Massachusetts | 2 | $ 519,000 | $ 259,500 | $ 250,000 |
| York, Maine | 1 | $ 130,000 | $ 130,000 | $ 139,000 |
Mortgage Loan Application Detail Totals for Rollstone Bank & Trust in 2003
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 |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 376 | $51,728,000 | $139,666 | $715,000 | $97,333 | $377,000 |
| Home Purchase (one-to-four family) | 163 | $28,456,000 | $160,500 | $1,033,000 | $66,500 | $696,000 |
| Home Improvement (one-to-four family) | 9 | $160,000 | $17,000 | $40,000 | $46,000 | $81,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 3 | $3,315,000 | $1,105,000 | $2,030,000 | $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 | 512 | $75,990,000 | $142,333 | $1,033,000 | $94,000 | $696,000 |
| Hispanic | 13 | $1,940,000 | $149,000 | $252,000 | $71,000 | $180,000 |
| Information not provided by applicant in mail or telephone application | 7 | $561,000 | $80,000 | $155,000 | $113,000 | $244,000 |
| Asian or Pacific Islander | 7 | $569,000 | $81,000 | $170,000 | $62,000 | $183,000 |
| Black | 5 | $614,000 | $122,000 | $187,000 | $50,000 | $73,000 |
| Not applicable | 4 | $3,446,000 | $861,000 | $2,030,000 | $0 | $0 |
| American Indian or Alaskan Native | 2 | $439,000 | $219,000 | $250,000 | $76,000 | $84,000 |
| Other | 1 | $100,000 | $100,000 | $100,000 | $125,000 | $125,000 |
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) | 551 | $83,659,000 | $143,666 | $2,030,000 | $93,000 | $696,000 |
| 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 | 481 | $73,844,000 | $144,000 | $2,030,000 | $99,000 | $696,000 |
| Application Approved But Not Accepted | 30 | $5,161,000 | $110,500 | $500,000 | $50,500 | $150,000 |
| Application Denied By Financial Institution | 23 | $2,639,000 | $179,000 | $252,000 | $49,500 | $98,000 |
| Application Withdrawn By Applicant | 12 | $1,286,000 | $107,000 | $188,000 | $52,000 | $130,000 |
| File Closed For Incompleteness | 5 | $729,000 | $145,000 | $173,000 | $44,000 | $65,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 13 | $1,432,000 | $110,000 | $175,000 | $47,000 | $98,000 |
| Debt-To-Income Ratio | 6 | $539,000 | $153,500 | $250,000 | $47,000 | $53,000 |
| Other | 2 | $337,000 | $168,000 | $252,000 | $47,000 | $95,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $144,000 | $144,000 | $144,000 | $54,000 | $54,000 |
| Collateral | 1 | $187,000 | $187,000 | $187,000 | $67,000 | $67,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Rollstone Bank & Trust's 2003 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 Rollstone Bank & Trust'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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