Scient Federal Credit Union Mortgage Lending & HMDA Data, 2019
In 2019, Scient Federal Credit Union of Groton, CT reported 193 mortgage applications totaling $25.0 million, up 3% from 2018. The average application was for $129,352, and applicants reported an average income of $126,025. 60% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Norwich-New London, CT (91), New Haven-Milford, CT (18) and Hartford-West Hartford-East Hartford, CT (16) (applications in parentheses).
| Mortgage Company & Address | Scient Federal Credit Union 60 Colver Avenue Groton, CT 06340 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 193 |
| Total Mortgage Loan Application Amount | $24,965,000 |
| Average Mortgage Loan Application Amount | $129,352 |
| Highest Mortgage Loan Application Amount | $755,000 |
| Average Applicant Income | $126,025 |
| Highest Applicant Income | $875,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Scient Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| New London, Connecticut | 91 | $ 9,595,000 | $ 105,439 | $ 110,000 |
| New Haven, Connecticut | 18 | $ 1,800,000 | $ 100,000 | $ 97,000 |
| Middlesex, Connecticut | 10 | $ 1,860,000 | $ 186,000 | $ 177,000 |
| Windham, Connecticut | 8 | $ 400,000 | $ 50,000 | $ 124,000 |
| Hartford, Connecticut | 6 | $ 670,000 | $ 111,666 | $ 92,000 |
| Washington, Rhode Island | 5 | $ 405,000 | $ 81,000 | $ 102,000 |
| Fairfield, Connecticut | 4 | $ 1,470,000 | $ 367,500 | $ 350,000 |
| Somerset, New Jersey | 3 | $ 625,000 | $ 208,333 | $ 239,000 |
| Cabarrus, North Carolina | 3 | $ 535,000 | $ 178,333 | $ 108,000 |
| San Diego, California | 2 | $ 180,000 | $ 90,000 | $ 135,000 |
| Litchfield, Connecticut | 2 | $ 80,000 | $ 40,000 | $ 120,000 |
| Middlesex, Massachusetts | 2 | $ 460,000 | $ 230,000 | $ 249,000 |
| Brevard, Florida | 1 | $ 85,000 | $ 85,000 | $ 128,000 |
| Broward, Florida | 1 | $ 205,000 | $ 205,000 | $ 200,000 |
| Hernando, Florida | 1 | $ 35,000 | $ 35,000 | $ 49,000 |
| McHenry, Illinois | 1 | $ 25,000 | $ 25,000 | $ 69,000 |
| St. Clair, Illinois | 1 | $ 115,000 | $ 115,000 | $ 62,000 |
| Hampden, Massachusetts | 1 | $ 225,000 | $ 225,000 | $ 46,000 |
| Worcester, Massachusetts | 1 | $ 245,000 | $ 245,000 | $ 366,000 |
| Hennepin, Minnesota | 1 | $ 65,000 | $ 65,000 | $ 327,000 |
| Belknap, New Hampshire | 1 | $ 185,000 | $ 185,000 | $ 86,000 |
| Hillsborough, New Hampshire | 1 | $ 35,000 | $ 35,000 | $ 117,000 |
| Rockingham, New Hampshire | 1 | $ 35,000 | $ 35,000 | $ 99,000 |
| Essex, New Jersey | 1 | $ 45,000 | $ 45,000 | $ 123,000 |
| Mercer, New Jersey | 1 | $ 85,000 | $ 85,000 | $ 81,000 |
| Middlesex, New Jersey | 1 | $ 285,000 | $ 285,000 | $ 168,000 |
| Passaic, New Jersey | 1 | $ 135,000 | $ 135,000 | $ 333,000 |
| Sussex, New Jersey | 1 | $ 115,000 | $ 115,000 | $ 157,000 |
| Warren, New Jersey | 1 | $ 25,000 | $ 25,000 | $ 88,000 |
| Herkimer, New York | 1 | $ 55,000 | $ 55,000 | $ 54,000 |
| Kings, New York | 1 | $ 65,000 | $ 65,000 | $ 89,000 |
| Westchester, New York | 1 | $ 55,000 | $ 55,000 | $ 95,000 |
| Franklin, North Carolina | 1 | $ 45,000 | $ 45,000 | $ 52,000 |
| Windsor, Vermont | 1 | $ 85,000 | $ 85,000 | $ 182,000 |
Mortgage Loan Application Detail Totals for Scient Federal Credit Union in 2019
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 |
|---|---|---|---|---|---|---|
| Other Purpose | 87 | $4,495,000 | $51,000 | $185,000 | $103,000 | $333,000 |
| Refinancing | 50 | $6,720,000 | $134,000 | $755,000 | $153,000 | $875,000 |
| Home Purchase | 43 | $10,665,000 | $248,000 | $485,000 | $134,000 | $342,000 |
| Cash-out Refinancing | 13 | $3,085,000 | $237,000 | $545,000 | $150,000 | $234,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $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 | 153 | $18,455,000 | $120,000 | $755,000 | $126,000 | $875,000 |
| Black or African American | 13 | $1,775,000 | $136,000 | $405,000 | $80,000 | $162,000 |
| Hispanic | 9 | $1,215,000 | $135,000 | $285,000 | $104,000 | $226,000 |
| Asian | 9 | $1,945,000 | $216,000 | $465,000 | $170,000 | $250,000 |
| American Indian or Alaskan Native | 2 | $260,000 | $130,000 | $155,000 | $106,000 | $138,000 |
| Not Provided | 1 | $225,000 | $225,000 | $225,000 | $342,000 | $342,000 |
| 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) | 193 | $24,965,000 | $129,000 | $755,000 | $126,000 | $875,000 |
| 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 | 115 | $12,915,000 | $112,000 | $435,000 | $125,000 | $402,000 |
| Application Withdrawn By Applicant | 27 | $3,125,000 | $115,000 | $435,000 | $118,000 | $278,000 |
| File Closed For Incompleteness | 14 | $1,930,000 | $137,000 | $755,000 | $179,000 | $875,000 |
| Application Denied By Financial Institution | 14 | $1,520,000 | $108,000 | $545,000 | $74,000 | $213,000 |
| Preapproval Approved but not Accepted | 12 | $3,550,000 | $295,000 | $485,000 | $168,000 | $342,000 |
| Application Approved But Not Accepted | 6 | $840,000 | $140,000 | $255,000 | $147,000 | $233,000 |
| Preapproval Denied by Financial Institution | 5 | $1,085,000 | $217,000 | $405,000 | $74,000 | $162,000 |
| 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 | 193 | $24,965,000 | $129,000 | $755,000 | $126,000 | $875,000 |
| Employment History | 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 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Scient Federal Credit Union's 2019 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 Scient Federal Credit Union'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 Connecticut, download the full spreadsheet
with aggregated HMDA statistics today.
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