Marlborough Co-Operative Bank Mortgage Lending & HMDA Data, 2004
In 2004, Marlborough Co-Operative Bank of Marlborough, MA reported 48 mortgage applications totaling $7.1 million, down 41% from 2003. The average application was for $148,875, and applicants reported an average income of $65,500. 75% of its applications resulted in an originated loan and 25% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (37) and Worcester, MA (8).
| 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 | 48 |
| Total Mortgage Loan Application Amount | $7,146,000 |
| Average Mortgage Loan Application Amount | $148,875 |
| Highest Mortgage Loan Application Amount | $470,000 |
| Average Applicant Income | $65,500 |
| Highest Applicant Income | $148,000 |
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records Marlborough Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 | 28 | $4,383,000 | $165,500 | $470,000 | $56,500 | $148,000 |
| Refinancing | 17 | $2,093,000 | $123,000 | $210,000 | $70,000 | $135,000 |
| Home Improvement | 3 | $670,000 | $223,000 | $325,000 | $91,000 | $123,000 |
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 | 41 | $6,392,000 | $168,000 | $470,000 | $66,500 | $148,000 |
| Hispanic | 5 | $604,000 | $138,500 | $210,000 | $51,000 | $108,000 |
| Asian | 2 | $150,000 | $75,000 | $119,000 | $47,000 | $47,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 48 | $7,146,000 | $161,500 | $470,000 | $60,500 | $148,000 |
| 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 | 36 | $5,336,000 | $148,000 | $470,000 | $76,000 | $148,000 |
| Application Denied By Financial Institution | 12 | $1,810,000 | $159,000 | $283,000 | $55,000 | $86,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
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 | 7 | $902,000 | $128,000 | $283,000 | $44,000 | $61,000 |
| Credit History | 2 | $425,000 | $212,500 | $225,000 | $75,000 | $86,000 |
| Unverifiable Information | 1 | $150,000 | $150,000 | $150,000 | $71,000 | $71,000 |
| Employment History | 1 | $168,000 | $168,000 | $168,000 | $38,000 | $38,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $165,000 | $165,000 | $165,000 | $56,000 | $56,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Marlborough Co-Operative Bank'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 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.
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