Methuen Co-Operative Bank Mortgage Lending & HMDA Data, 2015
In 2015, Methuen Co-Operative Bank of Methuen, MA reported 56 mortgage applications totaling $10.7 million, up 12% from 2014. The average application was for $190,303, and applicants reported an average income of $151,571. 75% of its applications resulted in an originated loan and 9% were denied. Its largest market was Cambridge-Newton-Framingham, MA (44).
| Mortgage Company & Address | Methuen Co-Operative Bank 243 Broadway Methuen, MA 01844 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 56 |
| Total Mortgage Loan Application Amount | $10,657,000 |
| Average Mortgage Loan Application Amount | $190,303 |
| Highest Mortgage Loan Application Amount | $541,000 |
| Average Applicant Income | $151,571 |
| Highest Applicant Income | $1,035,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Methuen Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Cambridge-Newton-Framingham, MA | 44 | $ 8,307,000 | $ 188,795 | $ 156,000 |
Mortgage Loan Application Detail Totals for Methuen Co-Operative Bank in 2015
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 | 24 | $3,689,000 | $153,000 | $370,000 | $180,000 | $1,035,000 |
| Refinancing | 20 | $4,782,000 | $239,000 | $541,000 | $128,000 | $258,000 |
| Home Improvement | 12 | $2,186,000 | $182,000 | $375,000 | $134,000 | $470,000 |
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 | 37 | $6,827,000 | $184,000 | $541,000 | $126,000 | $470,000 |
| Not Provided | 13 | $3,064,000 | $235,000 | $540,000 | $261,000 | $1,035,000 |
| Hispanic | 4 | $455,000 | $113,000 | $152,000 | $64,000 | $146,000 |
| Asian | 2 | $311,000 | $155,000 | $207,000 | $91,000 | $133,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 56 | $10,657,000 | $190,000 | $541,000 | $152,000 | $1,035,000 |
| 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 | 42 | $7,532,000 | $179,000 | $540,000 | $156,000 | $1,035,000 |
| Application Approved But Not Accepted | 5 | $727,000 | $145,000 | $220,000 | $234,000 | $794,000 |
| Application Denied By Financial Institution | 5 | $1,149,000 | $229,000 | $375,000 | $75,000 | $146,000 |
| Application Withdrawn By Applicant | 4 | $1,249,000 | $312,000 | $541,000 | $96,000 | $160,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial 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 | 4 | $776,000 | $194,000 | $375,000 | $73,000 | $146,000 |
| Mortgage Insurance Denied | 1 | $373,000 | $373,000 | $373,000 | $85,000 | $85,000 |
| Other | 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Methuen Co-Operative Bank's 2015 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 Methuen Co-Operative Bank'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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