Rollstone Bank & Trust Mortgage Lending & HMDA Data, 2004
In 2004, Rollstone Bank & Trust of Fitchburg, MA reported 439 mortgage applications totaling $73.5 million, down 20% from 2003. The average application was for $167,373, and applicants reported an average income of $59,207. 65% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Worcester, MA (274), Cambridge-Newton-Framingham, MA (58) and Manchester-Nashua, NH (11) (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 | 439 |
| Total Mortgage Loan Application Amount | $73,477,000 |
| Average Mortgage Loan Application Amount | $167,373 |
| Highest Mortgage Loan Application Amount | $990,000 |
| Average Applicant Income | $59,207 |
| Highest Applicant Income | $245,000 |
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(HMDA) records Rollstone Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| 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 | 274 | $ 44,596,000 | $ 162,759 | $ 57,000 |
| Cambridge-Newton-Framingham, MA | 58 | $ 9,499,000 | $ 163,775 | $ 65,000 |
| Manchester-Nashua, NH | 11 | $ 2,190,000 | $ 199,090 | $ 67,000 |
| Springfield, MA | 5 | $ 578,000 | $ 115,600 | $ 59,000 |
| Barnstable Town, MA | 1 | $ 150,000 | $ 150,000 | $ 164,000 |
| Portland-South Portland-Biddeford, ME | 1 | $ 272,000 | $ 272,000 | $ 69,000 |
Mortgage Loan Application Detail Totals for Rollstone Bank & Trust in 2004
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 | 258 | $49,747,000 | $216,500 | $990,000 | $60,750 | $245,000 |
| Refinancing | 146 | $22,026,000 | $135,500 | $441,000 | $56,500 | $227,000 |
| Home Improvement | 35 | $1,704,000 | $27,000 | $170,000 | $55,500 | $107,000 |
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 | 388 | $64,969,000 | $202,000 | $900,000 | $62,250 | $245,000 |
| Hispanic | 22 | $3,600,000 | $163,500 | $441,000 | $49,000 | $114,000 |
| Black or African American | 16 | $2,531,000 | $156,333 | $236,000 | $38,333 | $158,000 |
| Asian | 8 | $956,000 | $127,500 | $250,000 | $40,500 | $56,000 |
| Not applicable | 3 | $1,240,000 | $413,000 | $990,000 | $0 | $0 |
| American Indian or Alaskan Native | 2 | $181,000 | $90,500 | $162,000 | $51,000 | $54,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 439 | $73,477,000 | $201,000 | $990,000 | $58,750 | $245,000 |
| 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 | 286 | $45,917,000 | $207,000 | $990,000 | $65,000 | $227,000 |
| Preapproval Approved but not Accepted | 59 | $11,233,000 | $190,000 | $393,000 | $44,000 | $245,000 |
| Application Approved But Not Accepted | 35 | $6,941,000 | $164,333 | $900,000 | $70,000 | $206,000 |
| Application Denied By Financial Institution | 28 | $4,246,000 | $127,333 | $499,000 | $47,000 | $101,000 |
| Preapproval Denied by Financial Institution | 19 | $3,225,000 | $169,000 | $283,000 | $38,000 | $76,000 |
| Application Withdrawn By Applicant | 10 | $1,417,000 | $141,000 | $267,000 | $54,000 | $128,000 |
| File Closed For Incompleteness | 2 | $498,000 | $249,000 | $334,000 | $100,000 | $155,000 |
| 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 | 25 | $3,819,000 | $145,333 | $285,000 | $47,666 | $76,000 |
| Debt-To-Income Ratio | 16 | $2,851,000 | $158,500 | $499,000 | $38,500 | $101,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $341,000 | $170,500 | $175,000 | $40,000 | $55,000 |
| Other | 2 | $210,000 | $105,000 | $168,000 | $74,000 | $74,000 |
| Employment History | 1 | $146,000 | $146,000 | $146,000 | $27,000 | $27,000 |
| Collateral | 1 | $104,000 | $104,000 | $104,000 | $71,000 | $71,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Rollstone Bank & Trust's 2004 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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