Mellon Trust of New England Mortgage Lending & HMDA Data, 2003
In 2003, Mellon Trust of New England of Boston, MA reported 432 mortgage applications totaling $326.2 million. The average application was for $754,993, and applicants reported an average income of $373,504. 87% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Boston, MA-NH (54), Pittsburgh, PA (33) and Los Angeles-Long Beach, CA (32) (applications in parentheses).
| Mortgage Company & Address | Mellon Trust of New England One Boston Place Boston, MA 02108 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 432 |
| Total Mortgage Loan Application Amount | $326,157,000 |
| Average Mortgage Loan Application Amount | $754,993 |
| Highest Mortgage Loan Application Amount | $6,400,000 |
| Average Applicant Income | $373,504 |
| Highest Applicant Income | $4,370,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mellon Trust of New England filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Los Angeles, California | 32 | $ 29,767,000 | $ 930,218 | $ 335,000 |
| Allegheny, Pennsylvania | 28 | $ 12,994,000 | $ 464,071 | $ 272,000 |
| Miami-Dade, Florida | 21 | $ 18,138,000 | $ 863,714 | $ 624,000 |
| Orange, California | 19 | $ 16,515,000 | $ 869,210 | $ 395,000 |
| Middlesex, Massachusetts | 19 | $ 10,817,000 | $ 569,315 | $ 293,000 |
| Montgomery, Pennsylvania | 18 | $ 14,315,000 | $ 795,277 | $ 348,000 |
| Broward, Florida | 16 | $ 8,224,000 | $ 514,000 | $ 207,000 |
| Suffolk, Massachusetts | 16 | $ 18,103,000 | $ 1,131,437 | $ 463,000 |
| New York, New York | 15 | $ 12,561,000 | $ 837,400 | $ 585,000 |
| Norfolk, Massachusetts | 13 | $ 12,017,000 | $ 924,384 | $ 459,000 |
| Fairfield, Connecticut | 10 | $ 11,535,000 | $ 1,153,500 | $ 408,000 |
| Palm Beach, Florida | 10 | $ 10,922,000 | $ 1,092,200 | $ 334,000 |
| San Diego, California | 9 | $ 6,197,000 | $ 688,555 | $ 312,000 |
| Barnstable, Massachusetts | 9 | $ 6,591,000 | $ 732,333 | $ 223,000 |
| Collier, Florida | 7 | $ 7,135,000 | $ 1,019,285 | $ 634,000 |
| Suffolk, New York | 6 | $ 8,279,000 | $ 1,379,833 | $ 376,000 |
| Essex, Massachusetts | 5 | $ 2,837,000 | $ 567,400 | $ 163,000 |
| Monroe, Florida | 4 | $ 2,596,000 | $ 649,000 | $ 387,000 |
| York, Maine | 4 | $ 2,726,000 | $ 681,500 | $ 398,000 |
| Plymouth, Massachusetts | 4 | $ 2,356,000 | $ 589,000 | $ 166,000 |
| Rockingham, New Hampshire | 4 | $ 2,186,000 | $ 546,500 | $ 799,000 |
| Monmouth, New Jersey | 4 | $ 5,838,000 | $ 1,459,500 | $ 540,000 |
| Delaware, Pennsylvania | 4 | $ 4,240,000 | $ 1,060,000 | $ 407,000 |
| Fairfax, Virginia | 4 | $ 1,727,000 | $ 431,750 | $ 262,000 |
| Alameda, California | 3 | $ 930,000 | $ 310,000 | $ 64,000 |
| San Bernardino, California | 3 | $ 1,362,000 | $ 454,000 | $ 457,000 |
| Sonoma, California | 3 | $ 2,000,000 | $ 666,666 | $ 170,000 |
| Boulder, Colorado | 3 | $ 1,222,000 | $ 407,333 | $ 92,000 |
| District of Columbia, District Of Columbia | 3 | $ 2,875,000 | $ 958,333 | $ 703,000 |
| Martin, Florida | 3 | $ 1,850,000 | $ 616,666 | $ 349,000 |
| Cumberland, Maine | 3 | $ 2,880,000 | $ 960,000 | $ 592,000 |
| Dukes, Massachusetts | 3 | $ 2,650,000 | $ 883,333 | $ 284,000 |
| Bergen, New Jersey | 3 | $ 2,250,000 | $ 750,000 | $ 408,000 |
| Cape May, New Jersey | 3 | $ 2,062,000 | $ 687,333 | $ 446,000 |
| Chester, Pennsylvania | 3 | $ 3,125,000 | $ 1,041,666 | $ 832,000 |
| Philadelphia, Pennsylvania | 3 | $ 1,508,000 | $ 502,666 | $ 872,000 |
| Charleston, South Carolina | 3 | $ 2,832,000 | $ 944,000 | $ 313,000 |
| El Dorado, California | 2 | $ 1,435,000 | $ 717,500 | $ 518,000 |
| Riverside, California | 2 | $ 600,000 | $ 300,000 | $ 121,000 |
| San Francisco, California | 2 | $ 1,118,000 | $ 559,000 | $ 115,000 |
| Santa Clara, California | 2 | $ 2,280,000 | $ 1,140,000 | $ 101,000 |
| Douglas, Colorado | 2 | $ 675,000 | $ 337,500 | $ 106,000 |
| Eagle, Colorado | 2 | $ 1,548,000 | $ 774,000 | $ 626,000 |
| Indian River, Florida | 2 | $ 1,657,000 | $ 828,500 | $ 324,000 |
| Lee, Florida | 2 | $ 2,780,000 | $ 1,390,000 | $ 400,000 |
| Sarasota, Florida | 2 | $ 965,000 | $ 482,500 | $ 437,000 |
| Honolulu, Hawaii | 2 | $ 1,066,000 | $ 533,000 | $ 444,000 |
| Cook, Illinois | 2 | $ 1,002,000 | $ 501,000 | $ 919,000 |
| Sagadahoc, Maine | 2 | $ 903,000 | $ 451,500 | $ 287,000 |
| Clark, Nevada | 2 | $ 1,480,000 | $ 740,000 | $ 258,000 |
| Nassau, New York | 2 | $ 3,788,000 | $ 1,894,000 | $ 461,000 |
| Brunswick, North Carolina | 2 | $ 1,767,000 | $ 883,500 | $ 407,000 |
| Hamilton, Ohio | 2 | $ 1,295,000 | $ 647,500 | $ 789,000 |
| Bucks, Pennsylvania | 2 | $ 975,000 | $ 487,500 | $ 140,000 |
| Butler, Pennsylvania | 2 | $ 480,000 | $ 240,000 | $ 122,000 |
| Westmoreland, Pennsylvania | 2 | $ 912,000 | $ 456,000 | $ 463,000 |
| Dallas, Texas | 2 | $ 2,875,000 | $ 1,437,500 | $ 520,000 |
| King, Washington | 2 | $ 1,440,000 | $ 720,000 | $ 141,000 |
| Maricopa, Arizona | 1 | $ 850,000 | $ 850,000 | $ 211,000 |
| Pima, Arizona | 1 | $ 250,000 | $ 250,000 | $ 599,000 |
| Contra Costa, California | 1 | $ 300,000 | $ 300,000 | $ 10,000 |
| Marin, California | 1 | $ 675,000 | $ 675,000 | $ 102,000 |
| San Mateo, California | 1 | $ 500,000 | $ 500,000 | $ 190,000 |
| Santa Barbara, California | 1 | $ 1,100,000 | $ 1,100,000 | $ 1,197,000 |
| Ventura, California | 1 | $ 1,000,000 | $ 1,000,000 | $ 939,000 |
| Denver, Colorado | 1 | $ 410,000 | $ 410,000 | $ 427,000 |
| Jefferson, Colorado | 1 | $ 196,000 | $ 196,000 | $ 29,000 |
| Pitkin, Colorado | 1 | $ 432,000 | $ 432,000 | $ 1,166,000 |
| Summit, Colorado | 1 | $ 225,000 | $ 225,000 | $ 37,000 |
| Hartford, Connecticut | 1 | $ 325,000 | $ 325,000 | $ 177,000 |
| Sussex, Delaware | 1 | $ 250,000 | $ 250,000 | $ 450,000 |
| Charlotte, Florida | 1 | $ 436,000 | $ 436,000 | $ 629,000 |
| Flagler, Florida | 1 | $ 350,000 | $ 350,000 | $ 93,000 |
| Manatee, Florida | 1 | $ 356,000 | $ 356,000 | $ 1,628,000 |
| Seminole, Florida | 1 | $ 1,300,000 | $ 1,300,000 | $ 375,000 |
| Cobb, Georgia | 1 | $ 460,000 | $ 460,000 | $ 17,000 |
| Fulton, Georgia | 1 | $ 625,000 | $ 625,000 | $ 80,000 |
| Maui, Hawaii | 1 | $ 795,000 | $ 795,000 | $ 168,000 |
| Blaine, Idaho | 1 | $ 450,000 | $ 450,000 | $ 1,197,000 |
| Marshall, Indiana | 1 | $ 1,500,000 | $ 1,500,000 | $ 334,000 |
| Johnson, Kansas | 1 | $ 254,000 | $ 254,000 | $ 166,000 |
| Fayette, Kentucky | 1 | $ 686,000 | $ 686,000 | $ 1,235,000 |
| Waldo, Maine | 1 | $ 1,300,000 | $ 1,300,000 | $ 234,000 |
| Montgomery, Maryland | 1 | $ 600,000 | $ 600,000 | $ 453,000 |
| Talbot, Maryland | 1 | $ 700,000 | $ 700,000 | $ 244,000 |
| Worcester, Maryland | 1 | $ 275,000 | $ 275,000 | $ 238,000 |
| Bristol, Massachusetts | 1 | $ 650,000 | $ 650,000 | $ 195,000 |
| Nantucket, Massachusetts | 1 | $ 3,000,000 | $ 3,000,000 | $ 750,000 |
| Worcester, Massachusetts | 1 | $ 313,000 | $ 313,000 | $ 166,000 |
| Benzie, Michigan | 1 | $ 276,000 | $ 276,000 | $ 321,000 |
| Hennepin, Minnesota | 1 | $ 330,000 | $ 330,000 | $ 91,000 |
| Lamar, Mississippi | 1 | $ 500,000 | $ 500,000 | $ 43,000 |
| Gallatin, Montana | 1 | $ 450,000 | $ 450,000 | $ 608,000 |
| Cheshire, New Hampshire | 1 | $ 1,100,000 | $ 1,100,000 | $ 641,000 |
| Hillsborough, New Hampshire | 1 | $ 548,000 | $ 548,000 | $ 225,000 |
| Atlantic, New Jersey | 1 | $ 250,000 | $ 250,000 | $ 76,000 |
| Camden, New Jersey | 1 | $ 540,000 | $ 540,000 | $ 700,000 |
| Cumberland, New Jersey | 1 | $ 220,000 | $ 220,000 | $ 150,000 |
| Essex, New Jersey | 1 | $ 700,000 | $ 700,000 | $ 280,000 |
| Ocean, New Jersey | 1 | $ 1,250,000 | $ 1,250,000 | $ 711,000 |
| Somerset, New Jersey | 1 | $ 775,000 | $ 775,000 | $ 68,000 |
| Santa Fe, New Mexico | 1 | $ 264,000 | $ 264,000 | $ 619,000 |
| Columbia, New York | 1 | $ 607,000 | $ 607,000 | $ 240,000 |
| Dutchess, New York | 1 | $ 600,000 | $ 600,000 | $ 317,000 |
| Erie, New York | 1 | $ 600,000 | $ 600,000 | $ 186,000 |
| Kings, New York | 1 | $ 385,000 | $ 385,000 | $ 11,000 |
| Westchester, New York | 1 | $ 800,000 | $ 800,000 | $ 228,000 |
| Davidson, North Carolina | 1 | $ 194,000 | $ 194,000 | $ 246,000 |
| Mecklenburg, North Carolina | 1 | $ 210,000 | $ 210,000 | $ 184,000 |
| Union, North Carolina | 1 | $ 544,000 | $ 544,000 | $ 400,000 |
| Cuyahoga, Ohio | 1 | $ 248,000 | $ 248,000 | $ 50,000 |
| Multnomah, Oregon | 1 | $ 323,000 | $ 323,000 | $ 92,000 |
| Washington, Oregon | 1 | $ 450,000 | $ 450,000 | $ 335,000 |
| Adams, Pennsylvania | 1 | $ 170,000 | $ 170,000 | $ 135,000 |
| Berks, Pennsylvania | 1 | $ 251,000 | $ 251,000 | $ 60,000 |
| Cumberland, Pennsylvania | 1 | $ 140,000 | $ 140,000 | $ 76,000 |
| Lawrence, Pennsylvania | 1 | $ 250,000 | $ 250,000 | $ 95,000 |
| Washington, Pennsylvania | 1 | $ 625,000 | $ 625,000 | $ 250,000 |
| York, Pennsylvania | 1 | $ 625,000 | $ 625,000 | $ 280,000 |
| Sumner, Tennessee | 1 | $ 250,000 | $ 250,000 | $ 215,000 |
| Williamson, Tennessee | 1 | $ 340,000 | $ 340,000 | $ 28,000 |
| Collin, Texas | 1 | $ 576,000 | $ 576,000 | $ 154,000 |
| Travis, Texas | 1 | $ 117,000 | $ 117,000 | $ 340,000 |
| Norfolk, Virginia | 1 | $ 495,000 | $ 495,000 | $ 118,000 |
| Island, Washington | 1 | $ 750,000 | $ 750,000 | $ 312,000 |
| Kitsap, Washington | 1 | $ 250,000 | $ 250,000 | $ 220,000 |
| San Juan, Washington | 1 | $ 750,000 | $ 750,000 | $ 137,000 |
| Brown, Wisconsin | 1 | $ 638,000 | $ 638,000 | $ 600,000 |
Mortgage Loan Application Detail Totals for Mellon Trust of New England in 2003
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 (home purchase or home improvement, one-to-four family) | 258 | $206,311,000 | $708,269 | $6,400,000 | $435,038 | $4,370,000 |
| Home Purchase (one-to-four family) | 174 | $119,846,000 | $609,931 | $4,000,000 | $370,275 | $1,666,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement (one-to-four family) | 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 |
|---|---|---|---|---|---|---|
| Information not provided by applicant in mail or telephone application | 212 | $172,959,000 | $678,000 | $4,500,000 | $478,928 | $4,370,000 |
| White | 204 | $145,806,000 | $609,785 | $6,400,000 | $373,214 | $1,194,000 |
| Asian or Pacific Islander | 5 | $1,544,000 | $299,000 | $500,000 | $318,500 | $944,000 |
| Hispanic | 5 | $2,465,000 | $475,000 | $1,200,000 | $290,500 | $1,461,000 |
| Black | 3 | $1,190,000 | $396,666 | $650,000 | $230,666 | $257,000 |
| Not applicable | 3 | $2,193,000 | $731,000 | $1,200,000 | $147,333 | $365,000 |
| Other | 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) | 432 | $326,157,000 | $624,694 | $6,400,000 | $417,527 | $4,370,000 |
| 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 | 376 | $265,920,000 | $620,529 | $6,400,000 | $417,558 | $4,370,000 |
| Application Denied By Financial Institution | 27 | $37,599,000 | $1,168,200 | $3,000,000 | $411,500 | $1,200,000 |
| Application Withdrawn By Applicant | 15 | $12,689,000 | $853,375 | $3,000,000 | $344,375 | $1,044,000 |
| Application Approved But Not Accepted | 14 | $9,949,000 | $693,777 | $1,370,000 | $398,222 | $810,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 20 | $28,028,000 | $1,268,666 | $3,000,000 | $363,666 | $1,000,000 |
| Collateral | 4 | $4,071,000 | $1,017,750 | $2,500,000 | $508,500 | $1,200,000 |
| Other | 2 | $4,400,000 | $2,200,000 | $3,000,000 | $777,500 | $1,000,000 |
| Credit History | 1 | $1,100,000 | $1,100,000 | $1,100,000 | $368,000 | $368,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mellon Trust of New England's 2003 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 Mellon Trust of New England'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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