Mellon Trust of New England Mortgage Lending & HMDA Data, 2007
In 2007, Mellon Trust of New England of Boston, MA reported 530 mortgage applications totaling $515.4 million, up 45% from 2006. The average application was for $972,366, and applicants reported an average income of $596,611. 80% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Philadelphia, PA (46), Boston-Quincy, MA (36) and New York-White Plains-Wayne, NY-NJ (36) (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 | 530 |
| Total Mortgage Loan Application Amount | $515,354,000 |
| Average Mortgage Loan Application Amount | $972,366 |
| Highest Mortgage Loan Application Amount | $10,850,000 |
| Average Applicant Income | $596,611 |
| Highest Applicant Income | $9,999,000 |
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records Mellon Trust of New England filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Philadelphia, PA | 46 | $ 38,748,000 | $ 842,347 | $ 393,000 |
| Boston-Quincy, MA | 36 | $ 33,659,000 | $ 934,972 | $ 461,000 |
| New York-White Plains-Wayne, NY-NJ | 36 | $ 31,510,000 | $ 875,277 | $ 559,000 |
| Miami-Miami Beach-Kendall, FL | 26 | $ 28,778,000 | $ 1,106,846 | $ 1,571,000 |
| Pittsburgh, PA | 26 | $ 13,885,000 | $ 534,038 | $ 380,000 |
| Los Angeles-Long Beach-Glendale, CA | 23 | $ 34,820,000 | $ 1,513,913 | $ 962,000 |
| Atlanta-Sandy Springs-Marietta, GA | 21 | $ 21,816,000 | $ 1,038,857 | $ 422,000 |
| Cambridge-Newton-Framingham, MA | 21 | $ 17,807,000 | $ 847,952 | $ 668,000 |
| Santa Ana-Anaheim-Irvine, CA | 14 | $ 28,413,000 | $ 2,029,500 | $ 1,223,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 13 | $ 8,060,000 | $ 620,000 | $ 432,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 12 | $ 8,673,000 | $ 722,750 | $ 445,000 |
| Barnstable Town, MA | 10 | $ 22,609,000 | $ 2,260,900 | $ 1,734,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 9 | $ 6,710,000 | $ 745,555 | $ 328,000 |
| Naples-Marco Island, FL | 8 | $ 12,255,000 | $ 1,531,875 | $ 1,113,000 |
| Providence-New Bedford-Fall River, RI-MA | 8 | $ 14,240,000 | $ 1,780,000 | $ 516,000 |
| Riverside-San Bernardino-Ontario, CA | 8 | $ 4,768,000 | $ 596,000 | $ 530,000 |
| San Francisco-San Mateo-Redwood City, CA | 8 | $ 9,357,000 | $ 1,169,625 | $ 497,000 |
| Bridgeport-Stamford-Norwalk, CT | 7 | $ 7,700,000 | $ 1,100,000 | $ 595,000 |
| Nassau-Suffolk, NY | 7 | $ 6,647,000 | $ 949,571 | $ 826,000 |
| Las Vegas-Paradise, NV | 6 | $ 5,918,000 | $ 986,333 | $ 422,000 |
| Seattle-Bellevue-Everett, WA | 6 | $ 3,448,000 | $ 574,666 | $ 206,000 |
| Chicago-Naperville-Joliet, IL | 5 | $ 2,445,000 | $ 489,000 | $ 201,000 |
| Hartford-West Hartford-East Hartford, CT | 5 | $ 1,649,000 | $ 329,800 | $ 141,000 |
| Peabody, MA | 5 | $ 5,935,000 | $ 1,187,000 | $ 467,000 |
| San Diego-Carlsbad-San Marcos, CA | 5 | $ 4,398,000 | $ 879,600 | $ 267,000 |
| Baltimore-Towson, MD | 4 | $ 2,467,000 | $ 616,750 | $ 370,000 |
| Charleston-North Charleston, SC | 4 | $ 3,372,000 | $ 843,000 | $ 626,000 |
| Phoenix-Mesa-Scottsdale, AZ | 4 | $ 2,868,000 | $ 717,000 | $ 272,000 |
| Santa Barbara-Santa Maria-Goleta, CA | 4 | $ 8,700,000 | $ 2,175,000 | $ 758,000 |
| Asheville, NC | 3 | $ 1,379,000 | $ 459,666 | $ 159,000 |
| Ocean City, NJ | 3 | $ 4,111,000 | $ 1,370,333 | $ 482,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 3 | $ 2,520,000 | $ 840,000 | $ 177,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 3 | $ 2,100,000 | $ 700,000 | $ 196,000 |
| Santa Fe, NM | 3 | $ 1,494,000 | $ 498,000 | $ 635,000 |
| Sebastian-Vero Beach, FL | 3 | $ 5,833,000 | $ 1,944,333 | $ 826,000 |
| Tampa-St. Petersburg-Clearwater, FL | 3 | $ 2,482,000 | $ 827,333 | $ 278,000 |
| Tucson, AZ | 3 | $ 1,440,000 | $ 480,000 | $ 88,000 |
| Austin-Round Rock, TX | 2 | $ 713,000 | $ 356,500 | $ 146,000 |
| Charlotte-Gastonia-Concord, NC-SC | 2 | $ 735,000 | $ 367,500 | $ 75,000 |
| Cincinnati-Middletown, OH-KY-IN | 2 | $ 1,240,000 | $ 620,000 | $ 314,000 |
| Dallas-Plano-Irving, TX | 2 | $ 1,325,000 | $ 662,500 | $ 249,000 |
| Edison, NJ | 2 | $ 2,250,000 | $ 1,125,000 | $ 479,000 |
| Erie, PA | 2 | $ 443,000 | $ 221,500 | $ 140,000 |
| Holland-Grand Haven, MI | 2 | $ 1,110,000 | $ 555,000 | $ 618,000 |
| New Haven-Milford, CT | 2 | $ 2,080,000 | $ 1,040,000 | $ 549,000 |
| Newark-Union, NJ-PA | 2 | $ 1,000,000 | $ 500,000 | $ 442,000 |
| Punta Gorda, FL | 2 | $ 420,000 | $ 210,000 | $ 69,000 |
| Salt Lake City, UT | 2 | $ 4,000,000 | $ 2,000,000 | $ 3,282,000 |
| Atlantic City, NJ | 1 | $ 1,525,000 | $ 1,525,000 | $ 292,000 |
| Beaumont-Port Arthur, TX | 1 | $ 274,000 | $ 274,000 | $ 167,000 |
| Bend, OR | 1 | $ 1,140,000 | $ 1,140,000 | $ 432,000 |
| Bethesda-Gaithersburg-Frederick, MD | 1 | $ 600,000 | $ 600,000 | $ 80,000 |
| Birmingham-Hoover, AL | 1 | $ 655,000 | $ 655,000 | $ 488,000 |
| Boulder, CO | 1 | $ 596,000 | $ 596,000 | $ 126,000 |
| Camden, NJ | 1 | $ 408,000 | $ 408,000 | $ 97,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 570,000 | $ 570,000 | $ 567,000 |
| Charlottesville, VA | 1 | $ 2,600,000 | $ 2,600,000 | $ 530,000 |
| Denver-Aurora, CO | 1 | $ 580,000 | $ 580,000 | $ 150,000 |
| Durham, NC | 1 | $ 1,000,000 | $ 1,000,000 | $ 427,000 |
| Fayetteville-Springdale-Rogers, AR-MO | 1 | $ 600,000 | $ 600,000 | $ 270,000 |
| Houston-Sugar Land-Baytown, TX | 1 | $ 200,000 | $ 200,000 | $ 142,000 |
| Jacksonville, FL | 1 | $ 600,000 | $ 600,000 | $ 141,000 |
| Lancaster, PA | 1 | $ 372,000 | $ 372,000 | $ 132,000 |
| Lynchburg, VA | 1 | $ 670,000 | $ 670,000 | $ 221,000 |
| Madison, WI | 1 | $ 173,000 | $ 173,000 | $ 46,000 |
| Napa, CA | 1 | $ 1,100,000 | $ 1,100,000 | $ 730,000 |
| Oakland-Fremont-Hayward, CA | 1 | $ 700,000 | $ 700,000 | $ 502,000 |
| Orlando-Kissimmee, FL | 1 | $ 2,400,000 | $ 2,400,000 | $ 668,000 |
| Pittsfield, MA | 1 | $ 1,650,000 | $ 1,650,000 | $ 589,000 |
| Portland-South Portland-Biddeford, ME | 1 | $ 860,000 | $ 860,000 | $ 62,000 |
| Portland-Vancouver-Beaverton, OR-WA | 1 | $ 850,000 | $ 850,000 | $ 319,000 |
| Rochester, NY | 1 | $ 355,000 | $ 355,000 | $ 185,000 |
| Rockingham County-Strafford County, NH | 1 | $ 500,000 | $ 500,000 | $ 193,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 1 | $ 5,600,000 | $ 5,600,000 | $ 2,064,000 |
| Salinas, CA | 1 | $ 1,800,000 | $ 1,800,000 | $ 441,000 |
| San Antonio, TX | 1 | $ 300,000 | $ 300,000 | $ 112,000 |
| Sarasota-Bradenton-Venice, FL | 1 | $ 390,000 | $ 390,000 | $ 76,000 |
| Scranton--Wilkes-Barre, PA | 1 | $ 600,000 | $ 600,000 | $ 151,000 |
| Springfield, MA | 1 | $ 275,000 | $ 275,000 | $ 213,000 |
| Tulsa, OK | 1 | $ 300,000 | $ 300,000 | $ 92,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 1 | $ 1,080,000 | $ 1,080,000 | $ 395,000 |
| Wilmington, DE-MD-NJ | 1 | $ 205,000 | $ 205,000 | $ 103,000 |
Mortgage Loan Application Detail Totals for Mellon Trust of New England in 2007
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 | 313 | $313,684,000 | $1,002,000 | $10,850,000 | $634,000 | $9,999,000 |
| Refinancing | 214 | $200,102,000 | $935,000 | $9,500,000 | $543,000 | $9,999,000 |
| Home Improvement | 3 | $1,568,000 | $522,000 | $800,000 | $520,000 | $914,000 |
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 | 303 | $300,824,000 | $992,000 | $9,500,000 | $647,000 | $9,999,000 |
| White | 210 | $198,680,000 | $946,000 | $10,850,000 | $503,000 | $7,202,000 |
| Hispanic | 10 | $7,516,000 | $751,000 | $1,500,000 | $1,256,000 | $9,999,000 |
| Asian | 4 | $2,181,000 | $545,000 | $719,000 | $89,000 | $258,000 |
| Not applicable | 3 | $6,153,000 | $2,051,000 | $5,063,000 | $522,000 | $1,226,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 530 | $515,354,000 | $972,000 | $10,850,000 | $597,000 | $9,999,000 |
| 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 | 424 | $402,217,000 | $948,000 | $10,850,000 | $607,000 | $9,999,000 |
| Application Denied By Financial Institution | 41 | $57,485,000 | $1,402,000 | $9,500,000 | $721,000 | $7,202,000 |
| Application Approved But Not Accepted | 31 | $26,710,000 | $861,000 | $2,175,000 | $478,000 | $2,726,000 |
| Application Withdrawn By Applicant | 25 | $21,764,000 | $870,000 | $2,000,000 | $454,000 | $2,082,000 |
| File Closed For Incompleteness | 7 | $6,570,000 | $938,000 | $1,210,000 | $332,000 | $1,161,000 |
| Preapproval Denied by Financial Institution | 2 | $608,000 | $304,000 | $480,000 | $313,000 | $331,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 | 22 | $31,171,000 | $1,416,000 | $9,500,000 | $446,000 | $3,281,000 |
| Other | 10 | $8,896,000 | $889,000 | $1,200,000 | $847,000 | $1,025,000 |
| Collateral | 5 | $12,190,000 | $2,438,000 | $9,205,000 | $2,127,000 | $7,202,000 |
| Credit History | 4 | $3,626,000 | $906,000 | $1,500,000 | $119,000 | $296,000 |
| Unverifiable Information | 1 | $820,000 | $820,000 | $820,000 | $503,000 | $503,000 |
| Employment History | 1 | $1,390,000 | $1,390,000 | $1,390,000 | $287,000 | $287,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mellon Trust of New England's 2007 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.
For a list of all lenders in Massachusetts, download the full spreadsheet
with aggregated HMDA statistics today.
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