Newton South Co-Operative Bank Mortgage Lending & HMDA Data, 2003
In 2003, Newton South Co-Operative Bank of Newton, MA reported 120 mortgage applications totaling $29.5 million. The average application was for $246,166, and applicants reported an average income of $106,766. 94% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Boston, MA-NH (119) and Barnstable-Yarmouth, MA (1).
| Mortgage Company & Address | Newton South Co-Operative Bank 411 Watertown Street Newton, MA 02458 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 120 |
| Total Mortgage Loan Application Amount | $29,540,000 |
| Average Mortgage Loan Application Amount | $246,166 |
| Highest Mortgage Loan Application Amount | $725,000 |
| Average Applicant Income | $106,766 |
| Highest Applicant Income | $463,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Newton South Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Middlesex, Massachusetts | 106 | $ 26,206,000 | $ 247,226 | $ 97,000 |
| Norfolk, Massachusetts | 10 | $ 2,549,000 | $ 254,900 | $ 99,000 |
| Suffolk, Massachusetts | 2 | $ 422,000 | $ 211,000 | $ 71,000 |
| Barnstable, Massachusetts | 1 | $ 138,000 | $ 138,000 | $ 177,000 |
| Plymouth, Massachusetts | 1 | $ 225,000 | $ 225,000 | $ 156,000 |
Mortgage Loan Application Detail Totals for Newton South Co-Operative Bank 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) | 104 | $25,804,000 | $248,000 | $725,000 | $114,000 | $463,000 |
| Home Purchase (one-to-four family) | 15 | $3,701,000 | $246,000 | $432,000 | $54,000 | $220,000 |
| Home Improvement (one-to-four family) | 1 | $35,000 | $35,000 | $35,000 | $146,000 | $146,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 111 | $27,891,000 | $251,000 | $725,000 | $120,000 | $463,000 |
| Hispanic | 4 | $728,000 | $182,000 | $196,000 | $71,000 | $101,000 |
| Not applicable | 2 | $300,000 | $150,000 | $200,000 | $0 | $0 |
| Other | 2 | $391,000 | $195,000 | $288,000 | $73,000 | $84,000 |
| Black | 1 | $230,000 | $230,000 | $230,000 | $120,000 | $120,000 |
| Information not provided by applicant in mail or telephone application | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian or Pacific Islander | 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) | 120 | $29,540,000 | $246,000 | $725,000 | $103,000 | $463,000 |
| 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 | 113 | $27,587,000 | $244,000 | $725,000 | $100,000 | $463,000 |
| Application Approved But Not Accepted | 3 | $1,005,000 | $335,000 | $390,000 | $126,000 | $156,000 |
| Application Withdrawn By Applicant | 3 | $614,000 | $204,000 | $223,000 | $150,000 | $240,000 |
| Application Denied By Financial Institution | 1 | $334,000 | $334,000 | $334,000 | $58,000 | $58,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 | 1 | $334,000 | $334,000 | $334,000 | $58,000 | $58,000 |
| 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Newton South Co-Operative Bank'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 Newton South 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.
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