Forward National Company Inc Mortgage Lending & HMDA Data, 2010
In 2010, Forward National Company Inc of Milford, MA reported 279 mortgage applications totaling $13.0 million, down 77% from 2009. The average application was for $46,767, and applicants reported an average income of $42,594. 0% of its applications resulted in an originated loan and 99% were denied. Its largest markets were Philadelphia, PA (19), Rockingham County-Strafford County, NH (19) and Baltimore-Towson, MD (18) (applications in parentheses).
| Mortgage Company & Address | Forward National Company Inc 300 East Main St Milford, MA 01757 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 |
| Total Number of Mortgage Applications | 279 |
| Total Mortgage Loan Application Amount | $13,048,000 |
| Average Mortgage Loan Application Amount | $46,767 |
| Highest Mortgage Loan Application Amount | $159,000 |
| Average Applicant Income | $42,594 |
| Highest Applicant Income | $436,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Forward National Company Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Philadelphia, PA | 19 | $ 941,000 | $ 49,526 | $ 40,000 |
| Rockingham County-Strafford County, NH | 19 | $ 968,000 | $ 50,947 | $ 65,000 |
| Baltimore-Towson, MD | 18 | $ 860,000 | $ 47,777 | $ 38,000 |
| York-Hanover, PA | 18 | $ 601,000 | $ 33,388 | $ 34,000 |
| Lancaster, PA | 15 | $ 612,000 | $ 40,800 | $ 39,000 |
| Harrisburg-Carlisle, PA | 14 | $ 407,000 | $ 29,071 | $ 37,000 |
| Albany-Schenectady-Troy, NY | 11 | $ 395,000 | $ 35,909 | $ 40,000 |
| Lebanon, PA | 8 | $ 408,000 | $ 51,000 | $ 42,000 |
| Providence-New Bedford-Fall River, RI-MA | 8 | $ 433,000 | $ 54,125 | $ 30,500 |
| Wilmington, DE-MD-NJ | 8 | $ 347,000 | $ 43,375 | $ 52,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 6 | $ 279,000 | $ 46,500 | $ 56,833 |
| Reading, PA | 6 | $ 237,000 | $ 39,500 | $ 25,000 |
| Kingston, NY | 5 | $ 328,000 | $ 65,600 | $ 52,000 |
| Portland-South Portland-Biddeford, ME | 5 | $ 338,000 | $ 67,600 | $ 36,000 |
| Burlington-South Burlington, VT | 4 | $ 177,000 | $ 44,250 | $ 33,000 |
| Camden, NJ | 4 | $ 230,000 | $ 57,500 | $ 28,000 |
| Edison-New Brunswick, NJ | 4 | $ 247,000 | $ 61,750 | $ 51,000 |
| Springfield, MA | 4 | $ 203,000 | $ 50,750 | $ 50,000 |
| Hartford-West Hartford-East Hartford, CT | 3 | $ 100,000 | $ 33,333 | $ 15,000 |
| Norwich-New London, CT | 3 | $ 178,000 | $ 59,333 | $ 77,000 |
| Peabody, MA | 3 | $ 141,000 | $ 47,000 | $ 43,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 3 | $ 331,000 | $ 110,333 | $ 48,000 |
| State College, PA | 3 | $ 168,000 | $ 56,000 | $ 50,000 |
| Binghamton, NY | 2 | $ 62,000 | $ 31,000 | $ 22,000 |
| Boston-Quincy, MA | 2 | $ 108,000 | $ 54,000 | $ 29,000 |
| Cambridge-Newton-Framingham, MA | 2 | $ 99,000 | $ 49,500 | $ 61,000 |
| Manchester-Nashua, NH | 2 | $ 150,000 | $ 75,000 | $ 13,000 |
| New Haven-Milford, CT | 2 | $ 155,000 | $ 77,500 | $ 45,000 |
| Vineland-Millville-Bridgeton, NJ | 2 | $ 90,000 | $ 45,000 | $ 31,000 |
| Altoona, PA | 1 | $ 36,000 | $ 36,000 | $ 15,000 |
| Atlanta-Sandy Springs-Marietta, GA | 1 | $ 92,000 | $ 92,000 | $ 46,000 |
| Columbus, OH | 1 | $ 34,000 | $ 34,000 | $ 37,000 |
| Des Moines-West Des Moines, IA | 1 | $ 20,000 | $ 20,000 | $ 13,000 |
| Erie, PA | 1 | $ 14,000 | $ 14,000 | $ 20,000 |
| Glens Falls, NY | 1 | $ 56,000 | $ 56,000 | $ 25,000 |
| Los Angeles-Long Beach-Glendale, CA | 1 | $ 60,000 | $ 60,000 | $ 23,000 |
| Nassau-Suffolk, NY | 1 | $ 75,000 | $ 75,000 | $ 65,000 |
| New York-White Plains-Wayne, NY-NJ | 1 | $ 75,000 | $ 75,000 | $ 101,000 |
| Newark-Union, NJ-PA | 1 | $ 31,000 | $ 31,000 | $ 64,000 |
| Oklahoma City, OK | 1 | $ 34,000 | $ 34,000 | $ 37,000 |
| Pittsburgh, PA | 1 | $ 36,000 | $ 36,000 | $ 35,000 |
| Rochester, NY | 1 | $ 50,000 | $ 50,000 | $ 38,000 |
| San Diego-Carlsbad-San Marcos, CA | 1 | $ 85,000 | $ 85,000 | $ 42,000 |
| San Luis Obispo-Paso Robles, CA | 1 | $ 149,000 | $ 149,000 | $ 52,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 1 | $ 56,000 | $ 56,000 | $ 60,000 |
| Worcester, MA | 1 | $ 18,000 | $ 18,000 | $ 20,000 |
Mortgage Loan Application Detail Totals for Forward National Company Inc in 2010
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 | 248 | $11,025,000 | $44,000 | $159,000 | $43,000 | $436,000 |
| Refinancing | 26 | $1,790,000 | $68,000 | $149,000 | $40,000 | $102,000 |
| Home Improvement | 5 | $233,000 | $46,000 | $122,000 | $36,000 | $56,000 |
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 | 233 | $10,414,000 | $44,000 | $145,000 | $42,000 | $436,000 |
| Not Provided | 15 | $737,000 | $49,000 | $159,000 | $43,000 | $139,000 |
| Hispanic | 15 | $1,049,000 | $69,000 | $149,000 | $40,000 | $70,000 |
| Black or African American | 10 | $568,000 | $56,000 | $75,000 | $54,000 | $118,000 |
| American Indian or Alaskan Native | 4 | $184,000 | $46,000 | $85,000 | $36,000 | $64,000 |
| Asian | 2 | $96,000 | $48,000 | $80,000 | $28,000 | $34,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 279 | $13,048,000 | $46,000 | $159,000 | $42,000 | $436,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 277 | $12,978,000 | $46,000 | $159,000 | $41,000 | $282,000 |
| Application Withdrawn By Applicant | 2 | $70,000 | $35,000 | $35,000 | $225,000 | $436,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Originated | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 159 | $6,710,000 | $42,000 | $125,000 | $42,000 | $134,000 |
| Debt-To-Income Ratio | 99 | $5,236,000 | $52,000 | $159,000 | $37,000 | $282,000 |
| Other | 11 | $734,000 | $66,000 | $149,000 | $49,000 | $111,000 |
| Employment History | 6 | $217,000 | $36,000 | $66,000 | $40,000 | $102,000 |
| Collateral | 2 | $81,000 | $40,000 | $60,000 | $129,000 | $139,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 Forward National Company Inc's 2010 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 Forward National Company Inc'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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