Merrimack Mortgage Company, in Mortgage Lending & HMDA Data, 2010
In 2010, Merrimack Mortgage Company, in of Manchester, NH reported 6,889 mortgage applications totaling $1.6 billion, down 25% from 2009. The average application was for $231,978, and applicants reported an average income of $99,760. 79% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Manchester-Nashua, NH (833), Cambridge-Newton-Framingham, MA (681) and Boston-Quincy, MA (662) (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 | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 6,889 |
| Total Mortgage Loan Application Amount | $1,598,099,000 |
| Average Mortgage Loan Application Amount | $231,978 |
| Highest Mortgage Loan Application Amount | $1,243,000 |
| Average Applicant Income | $99,760 |
| Highest Applicant Income | $1,716,000 |
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records Merrimack Mortgage Company, in filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Hillsborough, New Hampshire | 833 | $ 180,092,000 | $ 216,196 | $ 93,000 |
| Middlesex, Massachusetts | 681 | $ 207,661,000 | $ 304,935 | $ 137,000 |
| Cumberland, Maine | 494 | $ 105,007,000 | $ 212,564 | $ 83,000 |
| Essex, Massachusetts | 396 | $ 106,270,000 | $ 268,358 | $ 110,000 |
| Rockingham, New Hampshire | 362 | $ 87,131,000 | $ 240,693 | $ 95,000 |
| Hartford, Connecticut | 339 | $ 70,090,000 | $ 206,755 | $ 87,000 |
| Norfolk, Massachusetts | 306 | $ 93,766,000 | $ 306,424 | $ 130,000 |
| Merrimack, New Hampshire | 261 | $ 50,473,000 | $ 193,383 | $ 86,000 |
| Worcester, Massachusetts | 259 | $ 60,048,000 | $ 231,845 | $ 98,000 |
| Plymouth, Massachusetts | 208 | $ 57,213,000 | $ 275,062 | $ 117,000 |
| Hampden, Massachusetts | 204 | $ 34,703,000 | $ 170,112 | $ 68,000 |
| New Haven, Connecticut | 200 | $ 41,185,000 | $ 205,925 | $ 88,000 |
| Hampshire, Massachusetts | 181 | $ 40,903,000 | $ 225,983 | $ 89,000 |
| Strafford, New Hampshire | 162 | $ 33,269,000 | $ 205,364 | $ 81,000 |
| York, Maine | 155 | $ 32,897,000 | $ 212,238 | $ 94,000 |
| Suffolk, Massachusetts | 148 | $ 44,838,000 | $ 302,959 | $ 129,000 |
| Grafton, New Hampshire | 143 | $ 28,018,000 | $ 195,930 | $ 108,000 |
| Cheshire, New Hampshire | 119 | $ 19,664,000 | $ 165,243 | $ 78,000 |
| Chittenden, Vermont | 118 | $ 28,252,000 | $ 239,423 | $ 100,000 |
| Bristol, Massachusetts | 97 | $ 23,681,000 | $ 244,134 | $ 102,000 |
| Fairfield, Connecticut | 80 | $ 28,443,000 | $ 355,537 | $ 154,000 |
| Belknap, New Hampshire | 73 | $ 13,443,000 | $ 184,150 | $ 100,000 |
| Providence, Rhode Island | 73 | $ 14,585,000 | $ 199,794 | $ 71,000 |
| New London, Connecticut | 67 | $ 14,922,000 | $ 222,716 | $ 92,000 |
| Sullivan, New Hampshire | 66 | $ 11,769,000 | $ 178,318 | $ 89,000 |
| Middlesex, Connecticut | 57 | $ 13,032,000 | $ 228,631 | $ 99,000 |
| Barnstable, Massachusetts | 55 | $ 15,215,000 | $ 276,636 | $ 170,000 |
| Windsor, Vermont | 53 | $ 10,436,000 | $ 196,905 | $ 108,000 |
| Tolland, Connecticut | 45 | $ 9,241,000 | $ 205,355 | $ 93,000 |
| Oxford, Maine | 44 | $ 6,624,000 | $ 150,545 | $ 82,000 |
| Carroll, New Hampshire | 43 | $ 7,133,000 | $ 165,883 | $ 75,000 |
| Washington, Rhode Island | 40 | $ 11,158,000 | $ 278,950 | $ 144,000 |
| Franklin, Massachusetts | 38 | $ 8,328,000 | $ 219,157 | $ 78,000 |
| Coos, New Hampshire | 36 | $ 3,866,000 | $ 107,388 | $ 62,000 |
| Kent, Rhode Island | 36 | $ 8,397,000 | $ 233,250 | $ 81,000 |
| Greenville, South Carolina | 29 | $ 3,994,000 | $ 137,724 | $ 65,000 |
| Androscoggin, Maine | 28 | $ 4,074,000 | $ 145,500 | $ 58,000 |
| Kennebec, Maine | 26 | $ 3,317,000 | $ 127,576 | $ 46,000 |
| Newport, Rhode Island | 23 | $ 6,375,000 | $ 277,173 | $ 123,000 |
| Orange, Vermont | 22 | $ 3,948,000 | $ 179,454 | $ 76,000 |
| Litchfield, Connecticut | 21 | $ 4,548,000 | $ 216,571 | $ 101,000 |
| Franklin, Vermont | 20 | $ 3,119,000 | $ 155,950 | $ 65,000 |
| Franklin, Maine | 15 | $ 2,666,000 | $ 177,733 | $ 116,000 |
| Windham, Connecticut | 12 | $ 2,222,000 | $ 185,166 | $ 65,000 |
| Sagadahoc, Maine | 12 | $ 2,095,000 | $ 174,583 | $ 66,000 |
| Spartanburg, South Carolina | 12 | $ 1,480,000 | $ 123,333 | $ 51,000 |
| Washington, Vermont | 12 | $ 2,186,000 | $ 182,166 | $ 58,000 |
| Berkshire, Massachusetts | 11 | $ 2,601,000 | $ 236,454 | $ 95,000 |
| Pickens, South Carolina | 11 | $ 1,314,000 | $ 119,454 | $ 48,000 |
| Penobscot, Maine | 10 | $ 1,443,000 | $ 144,300 | $ 61,000 |
| Lincoln, Maine | 8 | $ 1,794,000 | $ 224,250 | $ 118,000 |
| Anderson, South Carolina | 8 | $ 1,106,000 | $ 138,250 | $ 51,000 |
| Knox, Maine | 7 | $ 1,297,000 | $ 185,285 | $ 82,000 |
| Nantucket, Massachusetts | 6 | $ 3,481,000 | $ 580,166 | $ 477,000 |
| Bristol, Rhode Island | 6 | $ 1,287,000 | $ 214,500 | $ 146,000 |
| Oconee, South Carolina | 5 | $ 638,000 | $ 127,600 | $ 42,000 |
| Lamoille, Vermont | 5 | $ 1,002,000 | $ 200,400 | $ 125,000 |
| Rutland, Vermont | 5 | $ 1,079,000 | $ 215,800 | $ 102,000 |
| Somerset, Maine | 4 | $ 409,000 | $ 102,250 | $ 62,000 |
| Addison, Vermont | 4 | $ 685,000 | $ 171,250 | $ 75,000 |
| Grand Isle, Vermont | 4 | $ 821,000 | $ 205,250 | $ 115,000 |
| Waldo, Maine | 3 | $ 338,000 | $ 112,666 | $ 88,000 |
| Dukes, Massachusetts | 3 | $ 1,697,000 | $ 565,666 | $ 316,000 |
| Caledonia, Vermont | 3 | $ 943,000 | $ 314,333 | $ 187,000 |
| Aroostook, Maine | 2 | $ 211,000 | $ 105,500 | $ 36,000 |
| Florence, South Carolina | 2 | $ 564,000 | $ 282,000 | $ 208,000 |
| Orleans, Vermont | 2 | $ 287,000 | $ 143,500 | $ 69,000 |
| Windham, Vermont | 2 | $ 456,000 | $ 228,000 | $ 65,000 |
| Horry, South Carolina | 1 | $ 68,000 | $ 68,000 | $ 65,000 |
| Laurens, South Carolina | 1 | $ 100,000 | $ 100,000 | $ 61,000 |
| Bennington, Vermont | 1 | $ 141,000 | $ 141,000 | $ 115,000 |
| Essex, Vermont | 1 | $ 240,000 | $ 240,000 | $ 260,000 |
Mortgage Loan Application Detail Totals for Merrimack Mortgage Company, in in 2010
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 | 3,941 | $991,372,000 | $251,000 | $875,000 | $113,000 | $1,716,000 |
| Home Purchase | 2,934 | $603,611,000 | $205,000 | $1,243,000 | $82,000 | $1,416,000 |
| Home Improvement | 14 | $3,116,000 | $222,000 | $320,000 | $95,000 | $177,000 |
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 |
|---|---|---|---|---|---|---|
| White | 6,240 | $1,445,523,000 | $231,000 | $1,243,000 | $101,000 | $1,716,000 |
| Asian | 211 | $59,933,000 | $284,000 | $735,000 | $118,000 | $370,000 |
| Hispanic | 159 | $31,225,000 | $196,000 | $875,000 | $68,000 | $487,000 |
| Black or African American | 133 | $27,280,000 | $205,000 | $495,000 | $69,000 | $370,000 |
| Not Provided | 113 | $26,990,000 | $238,000 | $750,000 | $108,000 | $348,000 |
| Native Hawaiian or Other Pacific Islander | 24 | $5,244,000 | $218,000 | $505,000 | $111,000 | $432,000 |
| American Indian or Alaskan Native | 9 | $1,904,000 | $211,000 | $404,000 | $79,000 | $154,000 |
| 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) | 3,971 | $991,625,000 | $249,000 | $1,243,000 | $126,000 | $1,716,000 |
| FHA-insured (Federal Housing Administration) | 2,233 | $481,824,000 | $215,000 | $724,000 | $67,000 | $332,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 446 | $71,760,000 | $160,000 | $320,000 | $53,000 | $114,000 |
| VA-guaranteed (Veterans Administration) | 239 | $52,890,000 | $221,000 | $462,000 | $67,000 | $246,000 |
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 | 5,448 | $1,288,599,000 | $236,000 | $1,243,000 | $104,000 | $1,716,000 |
| Application Denied By Financial Institution | 804 | $178,196,000 | $221,000 | $875,000 | $85,000 | $800,000 |
| Application Approved But Not Accepted | 491 | $103,194,000 | $210,000 | $524,000 | $86,000 | $586,000 |
| Application Withdrawn By Applicant | 62 | $13,605,000 | $219,000 | $495,000 | $103,000 | $370,000 |
| Preapproval Approved but not Accepted | 47 | $8,669,000 | $184,000 | $405,000 | $66,000 | $170,000 |
| Preapproval Denied by Financial Institution | 23 | $3,651,000 | $158,000 | $338,000 | $49,000 | $122,000 |
| Loan Purchased By The Institution | 13 | $2,010,000 | $154,000 | $283,000 | $93,000 | $361,000 |
| File Closed For Incompleteness | 1 | $175,000 | $175,000 | $175,000 | $85,000 | $85,000 |
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 | 320 | $76,876,000 | $240,000 | $875,000 | $101,000 | $540,000 |
| Debt-To-Income Ratio | 174 | $35,828,000 | $205,000 | $417,000 | $68,000 | $800,000 |
| Credit History | 112 | $20,557,000 | $183,000 | $401,000 | $62,000 | $372,000 |
| Other | 109 | $24,033,000 | $220,000 | $750,000 | $93,000 | $348,000 |
| Credit Application Incomplete | 39 | $7,922,000 | $203,000 | $391,000 | $66,000 | $160,000 |
| Employment History | 35 | $7,636,000 | $218,000 | $724,000 | $63,000 | $195,000 |
| Unverifiable Information | 16 | $3,753,000 | $234,000 | $504,000 | $90,000 | $204,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 10 | $2,751,000 | $275,000 | $590,000 | $113,000 | $349,000 |
| Mortgage Insurance Denied | 7 | $1,640,000 | $234,000 | $417,000 | $107,000 | $223,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Merrimack Mortgage Company, in's 2010 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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