Mellon Trust of New England Mortgage Lending & HMDA Data, 2004
In 2004, Mellon Trust of New England of Boston, MA reported 369 mortgage applications totaling $298.8 million, down 15% from 2003. The average application was for $809,712, and applicants reported an average income of $433,319. 78% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Boston-Quincy, MA (29), Miami-Miami Beach-Kendall, FL (27) and New York-Wayne-White Plains, NY-NJ (27) (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 | 369 |
| Total Mortgage Loan Application Amount | $298,784,000 |
| Average Mortgage Loan Application Amount | $809,712 |
| Highest Mortgage Loan Application Amount | $7,238,000 |
| Average Applicant Income | $433,319 |
| Highest Applicant Income | $5,500,000 |
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records Mellon Trust of New England filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Miami-Dade, Florida | 27 | $ 16,468,000 | $ 609,925 | $ 306,000 |
| New York, New York | 21 | $ 17,149,000 | $ 816,619 | $ 1,011,000 |
| Allegheny, Pennsylvania | 19 | $ 9,183,000 | $ 483,315 | $ 342,000 |
| Los Angeles, California | 17 | $ 17,948,000 | $ 1,055,764 | $ 404,000 |
| Suffolk, Massachusetts | 15 | $ 12,259,000 | $ 817,266 | $ 337,000 |
| Palm Beach, Florida | 14 | $ 10,531,000 | $ 752,214 | $ 308,000 |
| Middlesex, Massachusetts | 13 | $ 8,279,000 | $ 636,846 | $ 385,000 |
| Orange, California | 11 | $ 20,841,000 | $ 1,894,636 | $ 430,000 |
| Fairfield, Connecticut | 10 | $ 12,251,000 | $ 1,225,100 | $ 362,000 |
| Broward, Florida | 9 | $ 7,183,000 | $ 798,111 | $ 375,000 |
| Norfolk, Massachusetts | 9 | $ 6,872,000 | $ 763,555 | $ 345,000 |
| Essex, Massachusetts | 8 | $ 4,342,000 | $ 542,750 | $ 225,000 |
| Suffolk, New York | 7 | $ 10,597,000 | $ 1,513,857 | $ 2,341,000 |
| Montgomery, Pennsylvania | 7 | $ 3,140,000 | $ 448,571 | $ 253,000 |
| Philadelphia, Pennsylvania | 7 | $ 2,252,000 | $ 321,714 | $ 459,000 |
| Barnstable, Massachusetts | 6 | $ 4,381,000 | $ 730,166 | $ 713,000 |
| Maricopa, Arizona | 5 | $ 3,123,000 | $ 624,600 | $ 308,000 |
| District of Columbia, District Of Columbia | 5 | $ 4,014,000 | $ 802,800 | $ 331,000 |
| Lee, Florida | 5 | $ 3,450,000 | $ 690,000 | $ 384,000 |
| Dukes, Massachusetts | 5 | $ 7,984,000 | $ 1,596,800 | $ 499,000 |
| Plymouth, Massachusetts | 5 | $ 2,392,000 | $ 478,400 | $ 139,000 |
| New Haven, Connecticut | 4 | $ 2,115,000 | $ 528,750 | $ 191,000 |
| San Diego, California | 3 | $ 2,960,000 | $ 986,666 | $ 520,000 |
| San Francisco, California | 3 | $ 2,550,000 | $ 850,000 | $ 413,000 |
| Collier, Florida | 3 | $ 2,494,000 | $ 831,333 | $ 130,000 |
| Cobb, Georgia | 3 | $ 2,766,000 | $ 922,000 | $ 735,000 |
| Clark, Nevada | 3 | $ 6,390,000 | $ 2,130,000 | $ 607,000 |
| Kings, New York | 3 | $ 1,231,000 | $ 410,333 | $ 170,000 |
| Westchester, New York | 3 | $ 4,310,000 | $ 1,436,666 | $ 1,831,000 |
| New Hanover, North Carolina | 3 | $ 3,027,000 | $ 1,009,000 | $ 569,000 |
| Multnomah, Oregon | 3 | $ 1,477,000 | $ 492,333 | $ 161,000 |
| King, Washington | 3 | $ 1,351,000 | $ 450,333 | $ 152,000 |
| Santa Clara, California | 2 | $ 1,520,000 | $ 760,000 | $ 123,000 |
| Eagle, Colorado | 2 | $ 1,860,000 | $ 930,000 | $ 652,000 |
| Monroe, Florida | 2 | $ 946,000 | $ 473,000 | $ 198,000 |
| York, Maine | 2 | $ 1,803,000 | $ 901,500 | $ 409,000 |
| Merrimack, New Hampshire | 2 | $ 1,279,000 | $ 639,500 | $ 291,000 |
| Bergen, New Jersey | 2 | $ 2,700,000 | $ 1,350,000 | $ 494,000 |
| Monmouth, New Jersey | 2 | $ 904,000 | $ 452,000 | $ 148,000 |
| Morris, New Jersey | 2 | $ 800,000 | $ 400,000 | $ 130,000 |
| Somerset, New Jersey | 2 | $ 3,200,000 | $ 1,600,000 | $ 668,000 |
| Union, New Jersey | 2 | $ 850,000 | $ 425,000 | $ 558,000 |
| Mecklenburg, North Carolina | 2 | $ 2,050,000 | $ 1,025,000 | $ 617,000 |
| Wake, North Carolina | 2 | $ 1,000,000 | $ 500,000 | $ 264,000 |
| Cuyahoga, Ohio | 2 | $ 1,700,000 | $ 850,000 | $ 281,000 |
| Butler, Pennsylvania | 2 | $ 528,000 | $ 264,000 | $ 123,000 |
| Chester, Pennsylvania | 2 | $ 1,200,000 | $ 600,000 | $ 162,000 |
| Summit, Utah | 2 | $ 792,000 | $ 396,000 | $ 112,000 |
| Windsor, Vermont | 2 | $ 1,100,000 | $ 550,000 | $ 1,240,000 |
| Fairfax, Virginia | 2 | $ 1,700,000 | $ 850,000 | $ 611,000 |
| Alameda, California | 1 | $ 700,000 | $ 700,000 | $ 281,000 |
| Contra Costa, California | 1 | $ 1,000,000 | $ 1,000,000 | $ 214,000 |
| Monterey, California | 1 | $ 1,000,000 | $ 1,000,000 | $ 829,000 |
| Riverside, California | 1 | $ 325,000 | $ 325,000 | $ 135,000 |
| San Mateo, California | 1 | $ 1,100,000 | $ 1,100,000 | $ 252,000 |
| Sonoma, California | 1 | $ 750,000 | $ 750,000 | $ 239,000 |
| Boulder, Colorado | 1 | $ 1,100,000 | $ 1,100,000 | $ 341,000 |
| Jefferson, Colorado | 1 | $ 180,000 | $ 180,000 | $ 282,000 |
| New Castle, Delaware | 1 | $ 2,000,000 | $ 2,000,000 | $ 1,291,000 |
| St. Lucie, Florida | 1 | $ 252,000 | $ 252,000 | $ 180,000 |
| Chatham, Georgia | 1 | $ 1,500,000 | $ 1,500,000 | $ 63,000 |
| Fulton, Georgia | 1 | $ 500,000 | $ 500,000 | $ 445,000 |
| Glynn, Georgia | 1 | $ 4,000,000 | $ 4,000,000 | $ 49,000 |
| Hawaii, Hawaii | 1 | $ 450,000 | $ 450,000 | $ 165,000 |
| Honolulu, Hawaii | 1 | $ 895,000 | $ 895,000 | $ 150,000 |
| Maui, Hawaii | 1 | $ 575,000 | $ 575,000 | $ 80,000 |
| Cook, Illinois | 1 | $ 1,000,000 | $ 1,000,000 | $ 2,750,000 |
| Marshall, Indiana | 1 | $ 1,750,000 | $ 1,750,000 | $ 464,000 |
| Porter, Indiana | 1 | $ 475,000 | $ 475,000 | $ 317,000 |
| Daviess, Kentucky | 1 | $ 900,000 | $ 900,000 | $ 56,000 |
| Cumberland, Maine | 1 | $ 335,000 | $ 335,000 | $ 120,000 |
| Baltimore City, Maryland | 1 | $ 442,000 | $ 442,000 | $ 109,000 |
| Kent, Maryland | 1 | $ 460,000 | $ 460,000 | $ 208,000 |
| Montgomery, Maryland | 1 | $ 775,000 | $ 775,000 | $ 228,000 |
| Hampden, Massachusetts | 1 | $ 352,000 | $ 352,000 | $ 36,000 |
| Hampshire, Massachusetts | 1 | $ 300,000 | $ 300,000 | $ 266,000 |
| Nantucket, Massachusetts | 1 | $ 1,800,000 | $ 1,800,000 | $ 672,000 |
| Mecosta, Michigan | 1 | $ 385,000 | $ 385,000 | $ 72,000 |
| Hennepin, Minnesota | 1 | $ 480,000 | $ 480,000 | $ 282,000 |
| Granite, Montana | 1 | $ 525,000 | $ 525,000 | $ 902,000 |
| Douglas, Nebraska | 1 | $ 500,000 | $ 500,000 | $ 293,000 |
| Carson City, Nevada | 1 | $ 350,000 | $ 350,000 | $ 95,000 |
| Carroll, New Hampshire | 1 | $ 300,000 | $ 300,000 | $ 120,000 |
| Hillsborough, New Hampshire | 1 | $ 1,000,000 | $ 1,000,000 | $ 533,000 |
| Sullivan, New Hampshire | 1 | $ 425,000 | $ 425,000 | $ 709,000 |
| Atlantic, New Jersey | 1 | $ 672,000 | $ 672,000 | $ 1,199,000 |
| Burlington, New Jersey | 1 | $ 225,000 | $ 225,000 | $ 313,000 |
| Camden, New Jersey | 1 | $ 560,000 | $ 560,000 | $ 267,000 |
| Cape May, New Jersey | 1 | $ 284,000 | $ 284,000 | $ 700,000 |
| Columbia, New York | 1 | $ 710,000 | $ 710,000 | $ 187,000 |
| Nassau, New York | 1 | $ 1,100,000 | $ 1,100,000 | $ 367,000 |
| Saratoga, New York | 1 | $ 362,000 | $ 362,000 | $ 958,000 |
| Yates, New York | 1 | $ 350,000 | $ 350,000 | $ 260,000 |
| Jackson, North Carolina | 1 | $ 450,000 | $ 450,000 | $ 126,000 |
| Hamilton, Ohio | 1 | $ 50,000 | $ 50,000 | $ 0 |
| Delaware, Pennsylvania | 1 | $ 650,000 | $ 650,000 | $ 297,000 |
| Somerset, Pennsylvania | 1 | $ 255,000 | $ 255,000 | $ 208,000 |
| Westmoreland, Pennsylvania | 1 | $ 384,000 | $ 384,000 | $ 371,000 |
| Newport, Rhode Island | 1 | $ 600,000 | $ 600,000 | $ 151,000 |
| Washington, Rhode Island | 1 | $ 915,000 | $ 915,000 | $ 876,000 |
| Beaufort, South Carolina | 1 | $ 249,000 | $ 249,000 | $ 504,000 |
| Collin, Texas | 1 | $ 1,460,000 | $ 1,460,000 | $ 184,000 |
| Harris, Texas | 1 | $ 580,000 | $ 580,000 | $ 118,000 |
| Tarrant, Texas | 1 | $ 222,000 | $ 222,000 | $ 83,000 |
| Grand, Utah | 1 | $ 400,000 | $ 400,000 | $ 82,000 |
| Albemarle, Virginia | 1 | $ 176,000 | $ 176,000 | $ 23,000 |
| Chesterfield, Virginia | 1 | $ 876,000 | $ 876,000 | $ 382,000 |
| Gloucester, Virginia | 1 | $ 1,316,000 | $ 1,316,000 | $ 576,000 |
| Loudoun, Virginia | 1 | $ 800,000 | $ 800,000 | $ 592,000 |
| Virginia Beach, Virginia | 1 | $ 380,000 | $ 380,000 | $ 289,000 |
| San Juan, Washington | 1 | $ 895,000 | $ 895,000 | $ 253,000 |
| Teton, Wyoming | 1 | $ 600,000 | $ 600,000 | $ 436,000 |
Mortgage Loan Application Detail Totals for Mellon Trust of New England 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 | 241 | $185,408,000 | $723,774 | $7,238,000 | $454,806 | $3,910,000 |
| Refinancing | 117 | $103,017,000 | $938,708 | $4,000,000 | $462,041 | $5,500,000 |
| Home Improvement | 11 | $10,359,000 | $867,500 | $2,400,000 | $308,500 | $793,000 |
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 |
|---|---|---|---|---|---|---|
| Not Provided | 234 | $189,826,000 | $759,312 | $4,000,000 | $516,718 | $5,500,000 |
| White | 127 | $105,635,000 | $775,846 | $7,238,000 | $296,769 | $2,025,000 |
| Hispanic | 4 | $1,827,000 | $456,000 | $750,000 | $390,000 | $508,000 |
| Black or African American | 2 | $1,000,000 | $500,000 | $550,000 | $344,000 | $586,000 |
| Not applicable | 1 | $176,000 | $176,000 | $176,000 | $23,000 | $23,000 |
| Asian | 1 | $320,000 | $320,000 | $320,000 | $102,000 | $102,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 369 | $298,784,000 | $782,111 | $7,238,000 | $470,750 | $5,500,000 |
| 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 | 289 | $210,509,000 | $676,303 | $3,000,000 | $489,484 | $3,980,000 |
| Application Denied By Financial Institution | 34 | $35,735,000 | $1,099,666 | $4,000,000 | $481,583 | $5,374,000 |
| Application Approved But Not Accepted | 18 | $15,253,000 | $661,000 | $4,000,000 | $250,600 | $1,075,000 |
| Application Withdrawn By Applicant | 15 | $23,647,000 | $1,583,625 | $7,238,000 | $723,250 | $5,500,000 |
| Preapproval Approved but not Accepted | 7 | $4,520,000 | $645,000 | $1,500,000 | $125,000 | $333,000 |
| Preapproval Denied by Financial Institution | 5 | $8,620,000 | $1,724,000 | $4,000,000 | $325,000 | $928,000 |
| File Closed For Incompleteness | 1 | $500,000 | $500,000 | $500,000 | $265,000 | $265,000 |
| 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 | 26 | $32,895,000 | $1,449,666 | $4,000,000 | $811,555 | $5,374,000 |
| Credit History | 6 | $5,055,000 | $842,500 | $2,500,000 | $450,166 | $928,000 |
| Other | 5 | $3,305,000 | $661,000 | $1,100,000 | $219,200 | $393,000 |
| Collateral | 2 | $3,100,000 | $1,550,000 | $1,600,000 | $371,000 | $601,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 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 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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