Merrimack Mortgage Company, in Mortgage Lending & HMDA Data, 2014
In 2014, Merrimack Mortgage Company, in of Manchester, NH reported 3,992 mortgage applications totaling $886.1 million, down 38% from 2013. The average application was for $221,972, and applicants reported an average income of $94,594. 75% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Manchester-Nashua, NH (607), Rockingham County-Strafford County, NH (448) and Cambridge-Newton-Framingham, MA (412) (applications in parentheses).
| Mortgage Company & Address | Merrimack Mortgage Company, in 1045 Elm Street, Suite 601 Manchester, NH 03101 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 3,992 |
| Total Mortgage Loan Application Amount | $886,114,000 |
| Average Mortgage Loan Application Amount | $221,972 |
| Highest Mortgage Loan Application Amount | $1,200,000 |
| Average Applicant Income | $94,594 |
| Highest Applicant Income | $1,552,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Merrimack Mortgage Company, in filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Manchester-Nashua, NH | 607 | $ 125,664,000 | $ 207,024 | $ 97,000 |
| Rockingham County-Strafford County, NH | 448 | $ 106,669,000 | $ 238,100 | $ 103,000 |
| Cambridge-Newton-Framingham, MA | 412 | $ 124,399,000 | $ 301,939 | $ 112,000 |
| Portland-South Portland, ME | 392 | $ 78,130,000 | $ 199,311 | $ 81,000 |
| Boston, MA | 377 | $ 114,638,000 | $ 304,079 | $ 116,000 |
| Springfield, MA | 289 | $ 55,743,000 | $ 192,882 | $ 77,000 |
| Providence-Warwick, RI-MA | 118 | $ 28,650,000 | $ 242,796 | $ 95,118 |
| Worcester, MA-CT | 63 | $ 14,056,000 | $ 223,111 | $ 94,761 |
| Hartford-West Hartford-East Hartford, CT | 56 | $ 11,514,000 | $ 205,607 | $ 99,000 |
| Harrisburg-Carlisle, PA | 53 | $ 7,863,000 | $ 148,358 | $ 63,000 |
| Barnstable Town, MA | 43 | $ 12,014,000 | $ 279,395 | $ 122,000 |
| Lewiston-Auburn, ME | 41 | $ 5,638,000 | $ 137,512 | $ 60,000 |
| Lancaster, PA | 27 | $ 4,899,000 | $ 181,444 | $ 76,000 |
| New Haven-Milford, CT | 24 | $ 5,446,000 | $ 226,916 | $ 93,000 |
| Bangor, ME | 23 | $ 3,281,000 | $ 142,652 | $ 69,000 |
| Bridgeport-Stamford-Norwalk, CT | 23 | $ 13,763,000 | $ 598,391 | $ 208,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 20 | $ 3,439,000 | $ 171,950 | $ 76,000 |
| York-Hanover, PA | 19 | $ 2,690,000 | $ 141,578 | $ 66,000 |
| East Stroudsburg, PA | 13 | $ 1,538,000 | $ 118,307 | $ 81,000 |
| Reading, PA | 12 | $ 1,722,000 | $ 143,500 | $ 77,000 |
| Pittsfield, MA | 10 | $ 1,906,000 | $ 190,600 | $ 68,000 |
| Lebanon, PA | 8 | $ 1,340,000 | $ 167,500 | $ 60,000 |
| Gettysburg, PA | 5 | $ 1,434,000 | $ 286,800 | $ 114,000 |
| Norwich-New London, CT | 5 | $ 1,097,000 | $ 219,400 | $ 82,000 |
| Montgomery County-Bucks County-Chester County, PA | 4 | $ 740,000 | $ 185,000 | $ 159,000 |
| Scranton--Wilkes-Barre--Hazleton, PA | 3 | $ 382,000 | $ 127,333 | $ 51,000 |
| Chambersburg-Waynesboro, PA | 1 | $ 115,000 | $ 115,000 | $ 38,000 |
| Lakeland-Winter Haven, FL | 1 | $ 100,000 | $ 100,000 | $ 75,000 |
| Orlando-Kissimmee-Sanford, FL | 1 | $ 275,000 | $ 275,000 | $ 116,000 |
| Philadelphia, PA | 1 | $ 98,000 | $ 98,000 | $ 374,000 |
| Port St. Lucie, FL | 1 | $ 165,000 | $ 165,000 | $ 70,000 |
Mortgage Loan Application Detail Totals for Merrimack Mortgage Company, in in 2014
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 | 3,075 | $661,882,000 | $215,000 | $1,200,000 | $90,000 | $1,552,000 |
| Refinancing | 917 | $224,232,000 | $244,000 | $1,200,000 | $110,000 | $579,000 |
| Home Improvement | 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 | 3,484 | $768,253,000 | $220,000 | $1,200,000 | $94,000 | $871,000 |
| Not Provided | 185 | $44,363,000 | $239,000 | $840,000 | $112,000 | $1,552,000 |
| Hispanic | 156 | $31,210,000 | $200,000 | $534,000 | $64,000 | $188,000 |
| Asian | 95 | $28,314,000 | $298,000 | $1,000,000 | $126,000 | $464,000 |
| Black or African American | 61 | $11,890,000 | $194,000 | $424,000 | $65,000 | $292,000 |
| American Indian or Alaskan Native | 8 | $1,545,000 | $193,000 | $268,000 | $97,000 | $240,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $539,000 | $179,000 | $214,000 | $40,000 | $65,000 |
| Not applicable | 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) | 2,316 | $565,369,000 | $244,000 | $1,200,000 | $115,000 | $1,552,000 |
| FHA-insured (Federal Housing Administration) | 901 | $167,638,000 | $186,000 | $628,000 | $66,000 | $310,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 439 | $73,151,000 | $166,000 | $418,000 | $56,000 | $128,000 |
| VA-guaranteed (Veterans Administration) | 336 | $79,956,000 | $237,000 | $645,000 | $77,000 | $295,000 |
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 | 3,009 | $678,406,000 | $225,000 | $1,200,000 | $95,000 | $871,000 |
| Application Withdrawn By Applicant | 520 | $115,950,000 | $222,000 | $800,000 | $103,000 | $1,552,000 |
| Application Denied By Financial Institution | 457 | $90,333,000 | $197,000 | $840,000 | $79,000 | $710,000 |
| File Closed For Incompleteness | 4 | $1,140,000 | $285,000 | $504,000 | $89,000 | $126,000 |
| Preapproval Denied by Financial Institution | 2 | $285,000 | $142,000 | $177,000 | $45,000 | $58,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application 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 |
|---|---|---|---|---|---|---|
| Collateral | 103 | $20,033,000 | $194,000 | $804,000 | $102,000 | $391,000 |
| Debt-To-Income Ratio | 99 | $19,548,000 | $197,000 | $840,000 | $59,000 | $387,000 |
| Credit Application Incomplete | 90 | $19,517,000 | $216,000 | $645,000 | $78,000 | $225,000 |
| Credit History | 87 | $16,405,000 | $188,000 | $400,000 | $72,000 | $710,000 |
| Other | 47 | $8,114,000 | $172,000 | $397,000 | $75,000 | $198,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 10 | $2,207,000 | $220,000 | $470,000 | $112,000 | $275,000 |
| Employment History | 9 | $1,570,000 | $174,000 | $244,000 | $69,000 | $142,000 |
| Unverifiable Information | 6 | $1,273,000 | $212,000 | $284,000 | $64,000 | $107,000 |
| Mortgage Insurance Denied | 1 | $135,000 | $135,000 | $135,000 | $33,000 | $33,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Merrimack Mortgage Company, in's 2014 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 Merrimack Mortgage Company, in'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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