Mercantile Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, Mercantile Bank & Trust of Boston, MA reported 20 mortgage applications totaling $11.2 million. The average application was for $557,650, and applicants reported an average income of $156,900. 65% of its applications resulted in an originated loan and 0% were denied. Its largest markets were Boston, MA-NH (19) and Providence-Fall River-Warwick, RI-MA (1).
| Mortgage Company & Address | Mercantile Bank & Trust 61 Brookline Avenue Boston, MA 02215 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 20 |
| Total Mortgage Loan Application Amount | $11,153,000 |
| Average Mortgage Loan Application Amount | $557,650 |
| Highest Mortgage Loan Application Amount | $1,485,000 |
| Average Applicant Income | $156,900 |
| Highest Applicant Income | $707,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mercantile Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mercantile Bank & Trust 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) | 9 | $3,725,000 | $298,000 | $690,000 | $215,500 | $707,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 6 | $5,101,000 | $850,000 | $1,485,000 | $0 | $0 |
| Home Purchase (one-to-four family) | 5 | $2,327,000 | $465,000 | $606,000 | $330,000 | $704,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 11 | $4,896,000 | $312,000 | $950,000 | $263,000 | $707,000 |
| Not applicable | 8 | $5,907,000 | $738,000 | $1,485,000 | $107,000 | $229,000 |
| Other | 1 | $350,000 | $350,000 | $350,000 | $33,000 | $33,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian or Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Black | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Information not provided by applicant in mail or telephone application | 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) | 20 | $11,153,000 | $364,500 | $1,485,000 | $234,500 | $707,000 |
| 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 | 13 | $8,282,000 | $413,500 | $1,485,000 | $177,000 | $280,000 |
| Loan Purchased By The Institution | 7 | $2,871,000 | $410,000 | $622,000 | $326,000 | $707,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Denied By Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 Mercantile Bank & Trust'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 Mercantile Bank & Trust'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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