Rollstone Bank & Trust Mortgage Lending & HMDA Data, 2008
In 2008, Rollstone Bank & Trust of Fitchburg, MA reported 342 mortgage applications totaling $73.0 million, up 22% from 2007. The average application was for $213,374, and applicants reported an average income of $78,152. 56% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Worcester, MA (214), Cambridge-Newton-Framingham, MA (47) and Manchester-Nashua, NH (12) (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 | 342 |
| Total Mortgage Loan Application Amount | $72,974,000 |
| Average Mortgage Loan Application Amount | $213,374 |
| Highest Mortgage Loan Application Amount | $3,550,000 |
| Average Applicant Income | $78,152 |
| Highest Applicant Income | $637,000 |
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(HMDA) records Rollstone Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 214 | $ 46,728,000 | $ 218,355 | $ 79,000 |
| Middlesex, Massachusetts | 47 | $ 9,916,000 | $ 210,978 | $ 79,000 |
| Hillsborough, New Hampshire | 12 | $ 2,079,000 | $ 173,250 | $ 76,000 |
| Windham, Connecticut | 1 | $ 375,000 | $ 375,000 | $ 155,000 |
| Oxford, Maine | 1 | $ 100,000 | $ 100,000 | $ 134,000 |
| Barnstable, Massachusetts | 1 | $ 804,000 | $ 804,000 | $ 255,000 |
| Bristol, Massachusetts | 1 | $ 307,000 | $ 307,000 | $ 103,000 |
| Essex, Massachusetts | 1 | $ 170,000 | $ 170,000 | $ 58,000 |
| Norfolk, Massachusetts | 1 | $ 595,000 | $ 595,000 | $ 140,000 |
| Plymouth, Massachusetts | 1 | $ 204,000 | $ 204,000 | $ 102,000 |
| Suffolk, Massachusetts | 1 | $ 198,000 | $ 198,000 | $ 92,000 |
| Carroll, New Hampshire | 1 | $ 192,000 | $ 192,000 | $ 49,000 |
| Sullivan, New Hampshire | 1 | $ 266,000 | $ 266,000 | $ 73,000 |
| Newport, Rhode Island | 1 | $ 285,000 | $ 285,000 | $ 117,000 |
| Addison, Vermont | 1 | $ 101,000 | $ 101,000 | $ 189,000 |
Mortgage Loan Application Detail Totals for Rollstone Bank & Trust in 2008
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 | 234 | $49,408,000 | $211,000 | $3,550,000 | $76,000 | $637,000 |
| Refinancing | 82 | $19,379,000 | $236,000 | $1,000,000 | $78,000 | $365,000 |
| Home Improvement | 26 | $4,187,000 | $161,000 | $595,000 | $98,000 | $317,000 |
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 | 299 | $64,270,000 | $214,000 | $3,550,000 | $83,000 | $637,000 |
| Not applicable | 13 | $4,310,000 | $331,000 | $1,000,000 | $0 | $0 |
| Hispanic | 13 | $1,541,000 | $118,000 | $247,000 | $59,000 | $92,000 |
| Asian | 8 | $1,226,000 | $153,000 | $329,000 | $60,000 | $95,000 |
| Black or African American | 8 | $1,470,000 | $183,000 | $342,000 | $52,000 | $84,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $157,000 | $157,000 | $157,000 | $62,000 | $62,000 |
| Not Provided | 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) | 340 | $72,701,000 | $213,000 | $3,550,000 | $78,000 | $637,000 |
| FHA-insured (Federal Housing Administration) | 2 | $273,000 | $136,000 | $182,000 | $67,000 | $93,000 |
| 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 | 193 | $41,439,000 | $214,000 | $1,000,000 | $87,000 | $637,000 |
| Application Approved But Not Accepted | 39 | $8,233,000 | $211,000 | $880,000 | $82,000 | $217,000 |
| Application Denied By Financial Institution | 39 | $9,939,000 | $254,000 | $3,550,000 | $54,000 | $188,000 |
| Preapproval Approved but not Accepted | 35 | $6,986,000 | $199,000 | $352,000 | $73,000 | $145,000 |
| Preapproval Denied by Financial Institution | 22 | $3,668,000 | $166,000 | $342,000 | $50,000 | $100,000 |
| Application Withdrawn By Applicant | 11 | $2,013,000 | $183,000 | $500,000 | $71,000 | $113,000 |
| File Closed For Incompleteness | 3 | $696,000 | $232,000 | $342,000 | $49,000 | $71,000 |
| 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 | 24 | $3,832,000 | $159,000 | $300,000 | $52,000 | $182,000 |
| Debt-To-Income Ratio | 24 | $4,239,000 | $176,000 | $350,000 | $42,000 | $84,000 |
| Other | 6 | $872,000 | $145,000 | $246,000 | $68,000 | $124,000 |
| Collateral | 4 | $3,992,000 | $998,000 | $3,550,000 | $81,000 | $188,000 |
| Mortgage Insurance Denied | 3 | $672,000 | $224,000 | $247,000 | $81,000 | $92,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Rollstone Bank & Trust's 2008 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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