Naugatuck Valley S & L Mortgage Lending & HMDA Data, 2004
In 2004, Naugatuck Valley S & L of Naugatuck, CT reported 353 mortgage applications totaling $48.4 million, down 38% from 2003. The average application was for $137,101, and applicants reported an average income of $86,592. 83% of its applications resulted in an originated loan and 5% were denied. Its largest markets were New Haven-Milford, CT (288), Bridgeport-Stamford-Norwalk, CT (25) and Hartford-West Hartford-East Hartford, CT (9) (applications in parentheses).
| Mortgage Company & Address | Naugatuck Valley S & L 333 Church Street Naugatuck, CT 06770 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 353 |
| Total Mortgage Loan Application Amount | $48,397,000 |
| Average Mortgage Loan Application Amount | $137,101 |
| Highest Mortgage Loan Application Amount | $644,000 |
| Average Applicant Income | $86,592 |
| Highest Applicant Income | $439,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Naugatuck Valley S & L filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| New Haven, Connecticut | 288 | $ 37,278,000 | $ 129,437 | $ 84,000 |
| Litchfield, Connecticut | 30 | $ 5,075,000 | $ 169,166 | $ 101,000 |
| Fairfield, Connecticut | 25 | $ 4,093,000 | $ 163,720 | $ 76,000 |
| Hartford, Connecticut | 7 | $ 1,324,000 | $ 189,142 | $ 84,000 |
| Middlesex, Connecticut | 2 | $ 489,000 | $ 244,500 | $ 125,000 |
| New London, Connecticut | 1 | $ 138,000 | $ 138,000 | $ 167,000 |
Mortgage Loan Application Detail Totals for Naugatuck Valley S & L in 2004
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 | 192 | $24,194,000 | $126,000 | $455,000 | $81,000 | $411,000 |
| Home Purchase | 112 | $21,728,000 | $194,000 | $644,000 | $96,000 | $439,000 |
| Home Improvement | 49 | $2,475,000 | $50,000 | $145,000 | $87,000 | $240,000 |
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 | 325 | $44,220,000 | $136,000 | $644,000 | $79,000 | $439,000 |
| Hispanic | 13 | $1,960,000 | $150,000 | $362,000 | $91,000 | $126,000 |
| Asian | 9 | $1,589,000 | $176,000 | $330,000 | $92,000 | $120,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $70,000 | $35,000 | $50,000 | $153,000 | $240,000 |
| Not Provided | 2 | $155,000 | $77,000 | $130,000 | $111,000 | $120,000 |
| Not applicable | 1 | $183,000 | $183,000 | $183,000 | $89,000 | $89,000 |
| Black or African American | 1 | $220,000 | $220,000 | $220,000 | $175,000 | $175,000 |
| 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) | 353 | $48,397,000 | $137,000 | $644,000 | $88,000 | $439,000 |
| 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 | 292 | $41,290,000 | $141,000 | $644,000 | $110,000 | $439,000 |
| Application Withdrawn By Applicant | 28 | $3,945,000 | $140,000 | $384,000 | $76,000 | $216,000 |
| File Closed For Incompleteness | 16 | $1,736,000 | $108,000 | $310,000 | $72,000 | $151,000 |
| Application Denied By Financial Institution | 16 | $1,296,000 | $81,000 | $160,000 | $65,000 | $120,000 |
| Application Approved But Not Accepted | 1 | $130,000 | $130,000 | $130,000 | $103,000 | $103,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 6 | $536,000 | $89,000 | $153,000 | $76,000 | $102,000 |
| Debt-To-Income Ratio | 6 | $423,000 | $70,000 | $160,000 | $56,000 | $120,000 |
| Employment History | 1 | $90,000 | $90,000 | $90,000 | $46,000 | $46,000 |
| Collateral | 1 | $29,000 | $29,000 | $29,000 | $119,000 | $119,000 |
| Credit Application Incomplete | 1 | $140,000 | $140,000 | $140,000 | $46,000 | $46,000 |
| Other | 1 | $78,000 | $78,000 | $78,000 | $31,000 | $31,000 |
| Unverifiable Information | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Naugatuck Valley S & L's 2004 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 Naugatuck Valley S & L'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 Connecticut, download the full spreadsheet
with aggregated HMDA statistics today.
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