Marlborough Co-Operative Bank Mortgage Lending & HMDA Data, 2008
In 2008, Marlborough Co-Operative Bank of Marlborough, MA reported 110 mortgage applications totaling $20.7 million, up 150% from 2007. The average application was for $187,790, and applicants reported an average income of $80,427. 75% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (52), Worcester, MA (37) and Peabody, MA (6) (applications in parentheses).
| Mortgage Company & Address | Marlborough Co-Operative Bank 175 Main Street Marlborough, MA 01752 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 110 |
| Total Mortgage Loan Application Amount | $20,657,000 |
| Average Mortgage Loan Application Amount | $187,790 |
| Highest Mortgage Loan Application Amount | $675,000 |
| Average Applicant Income | $80,427 |
| Highest Applicant Income | $330,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Marlborough Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Marlborough Co-Operative Bank 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 |
|---|---|---|---|---|---|---|
| Refinancing | 57 | $10,667,000 | $187,000 | $660,000 | $89,000 | $330,000 |
| Home Purchase | 45 | $8,223,000 | $182,000 | $675,000 | $70,000 | $215,000 |
| Home Improvement | 8 | $1,767,000 | $220,000 | $325,000 | $78,000 | $256,000 |
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 | 79 | $13,789,000 | $174,000 | $550,000 | $92,000 | $330,000 |
| Not applicable | 14 | $4,580,000 | $327,000 | $675,000 | $0 | $0 |
| Not Provided | 12 | $1,790,000 | $149,000 | $325,000 | $96,000 | $256,000 |
| Hispanic | 3 | $334,000 | $111,000 | $155,000 | $108,000 | $128,000 |
| Asian | 2 | $164,000 | $82,000 | $123,000 | $47,000 | $47,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 110 | $20,657,000 | $187,000 | $675,000 | $80,000 | $330,000 |
| 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 | 82 | $14,664,000 | $178,000 | $660,000 | $91,000 | $330,000 |
| Application Withdrawn By Applicant | 12 | $1,961,000 | $163,000 | $325,000 | $79,000 | $143,000 |
| Loan Purchased By The Institution | 9 | $2,973,000 | $330,000 | $675,000 | $0 | $0 |
| Application Denied By Financial Institution | 6 | $837,000 | $139,000 | $255,000 | $70,000 | $120,000 |
| File Closed For Incompleteness | 1 | $222,000 | $222,000 | $222,000 | $63,000 | $63,000 |
| Application Approved But Not Accepted | 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 |
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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Marlborough Co-Operative Bank'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 Marlborough Co-Operative Bank'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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