Rollstone Bank & Trust Mortgage Lending & HMDA Data, 2009
In 2009, Rollstone Bank & Trust of Fitchburg, MA reported 350 mortgage applications totaling $70.1 million, up 2% from 2008. The average application was for $200,308, and applicants reported an average income of $89,765. 51% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Worcester, MA (197), Cambridge-Newton-Framingham, MA (48) and Manchester-Nashua, NH (9) (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 | 350 |
| Total Mortgage Loan Application Amount | $70,108,000 |
| Average Mortgage Loan Application Amount | $200,308 |
| Highest Mortgage Loan Application Amount | $4,600,000 |
| Average Applicant Income | $89,765 |
| Highest Applicant Income | $777,000 |
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(HMDA) records Rollstone Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 197 | $ 41,649,000 | $ 211,416 | $ 87,000 |
| Cambridge-Newton-Framingham, MA | 48 | $ 9,363,000 | $ 195,062 | $ 101,000 |
| Manchester-Nashua, NH | 9 | $ 1,524,000 | $ 169,333 | $ 90,000 |
| Boston-Quincy, MA | 2 | $ 740,000 | $ 370,000 | $ 201,000 |
| Barnstable Town, MA | 1 | $ 417,000 | $ 417,000 | $ 157,000 |
| Peabody, MA | 1 | $ 413,000 | $ 413,000 | $ 148,000 |
| Portland-South Portland-Biddeford, ME | 1 | $ 1,400,000 | $ 1,400,000 | $ 717,000 |
| Rockingham County-Strafford County, NH | 1 | $ 260,000 | $ 260,000 | $ 125,000 |
| Springfield, MA | 1 | $ 106,000 | $ 106,000 | $ 52,000 |
Mortgage Loan Application Detail Totals for Rollstone Bank & Trust in 2009
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 | 194 | $33,414,000 | $172,000 | $1,280,000 | $78,000 | $777,000 |
| Refinancing | 133 | $33,860,000 | $254,000 | $4,600,000 | $110,000 | $741,000 |
| Home Improvement | 23 | $2,834,000 | $123,000 | $457,000 | $72,000 | $227,000 |
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 | 321 | $58,527,000 | $182,000 | $1,400,000 | $94,000 | $777,000 |
| Hispanic | 10 | $1,508,000 | $150,000 | $392,000 | $74,000 | $170,000 |
| Not applicable | 8 | $8,491,000 | $1,061,000 | $4,600,000 | $0 | $0 |
| Black or African American | 5 | $797,000 | $159,000 | $207,000 | $61,000 | $87,000 |
| Asian | 3 | $438,000 | $146,000 | $258,000 | $37,000 | $50,000 |
| American Indian or Alaskan Native | 2 | $170,000 | $85,000 | $160,000 | $55,000 | $60,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $177,000 | $177,000 | $177,000 | $60,000 | $60,000 |
| 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) | 346 | $68,885,000 | $199,000 | $4,600,000 | $89,000 | $777,000 |
| FHA-insured (Federal Housing Administration) | 4 | $1,223,000 | $305,000 | $392,000 | $112,000 | $160,000 |
| 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 | 180 | $40,886,000 | $227,000 | $4,600,000 | $103,000 | $777,000 |
| Preapproval Approved but not Accepted | 54 | $8,392,000 | $155,000 | $350,000 | $64,000 | $218,000 |
| Application Approved But Not Accepted | 45 | $8,982,000 | $199,000 | $457,000 | $102,000 | $533,000 |
| Application Denied By Financial Institution | 37 | $6,421,000 | $173,000 | $416,000 | $71,000 | $162,000 |
| Preapproval Denied by Financial Institution | 22 | $2,887,000 | $131,000 | $380,000 | $54,000 | $150,000 |
| File Closed For Incompleteness | 7 | $1,596,000 | $228,000 | $392,000 | $80,000 | $124,000 |
| Application Withdrawn By Applicant | 5 | $944,000 | $188,000 | $359,000 | $69,000 | $121,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 21 | $3,637,000 | $173,000 | $416,000 | $50,000 | $162,000 |
| Credit History | 15 | $1,810,000 | $120,000 | $226,000 | $56,000 | $108,000 |
| Other | 10 | $1,087,000 | $108,000 | $280,000 | $63,000 | $144,000 |
| Collateral | 8 | $1,968,000 | $246,000 | $353,000 | $113,000 | $151,000 |
| Mortgage Insurance Denied | 4 | $746,000 | $186,000 | $347,000 | $84,000 | $162,000 |
| Employment History | 1 | $60,000 | $60,000 | $60,000 | $32,000 | $32,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 2009 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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