Norwich Commercial Group Inc Mortgage Lending & HMDA Data, 2017
In 2017, Norwich Commercial Group Inc of Avon, CT reported 4,348 mortgage applications totaling $902.1 million, up 2% from 2016. The average application was for $207,468, and applicants reported an average income of $89,242. 62% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (610), New Haven-Milford, CT (490) and Providence-Warwick, RI-MA (411) (applications in parentheses).
| Mortgage Company & Address | Norwich Commercial Group Inc 38 Security Drive Avon, CT 06001 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 4,348 |
| Total Mortgage Loan Application Amount | $902,074,000 |
| Average Mortgage Loan Application Amount | $207,468 |
| Highest Mortgage Loan Application Amount | $1,136,000 |
| Average Applicant Income | $89,242 |
| Highest Applicant Income | $1,896,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Norwich Commercial Group Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Norwich Commercial Group Inc in 2017
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 | 3,234 | $665,608,000 | $205,000 | $1,000,000 | $84,000 | $800,000 |
| Refinancing | 1,091 | $231,173,000 | $211,000 | $1,136,000 | $105,000 | $1,896,000 |
| Home Improvement | 23 | $5,293,000 | $230,000 | $828,000 | $79,000 | $184,000 |
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 | 3,106 | $647,146,000 | $208,000 | $1,136,000 | $93,000 | $1,896,000 |
| Hispanic | 423 | $80,541,000 | $190,000 | $600,000 | $68,000 | $454,000 |
| Black or African American | 353 | $73,169,000 | $207,000 | $828,000 | $75,000 | $199,000 |
| Not Provided | 328 | $69,938,000 | $213,000 | $740,000 | $94,000 | $1,140,000 |
| Asian | 108 | $25,796,000 | $238,000 | $626,000 | $100,000 | $450,000 |
| American Indian or Alaskan Native | 17 | $3,231,000 | $190,000 | $384,000 | $62,000 | $279,000 |
| Native Hawaiian or Other Pacific Islander | 12 | $2,021,000 | $168,000 | $272,000 | $62,000 | $166,000 |
| Not applicable | 1 | $232,000 | $232,000 | $232,000 | $52,000 | $52,000 |
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) | 2,145 | $451,681,000 | $210,000 | $1,136,000 | $109,000 | $1,896,000 |
| FHA-insured (Federal Housing Administration) | 1,445 | $296,056,000 | $204,000 | $828,000 | $71,000 | $1,140,000 |
| VA-guaranteed (Veterans Administration) | 553 | $116,300,000 | $210,000 | $641,000 | $70,000 | $426,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 205 | $38,037,000 | $185,000 | $389,000 | $60,000 | $125,000 |
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 | 2,696 | $561,263,000 | $208,000 | $626,000 | $86,000 | $785,000 |
| Application Denied By Financial Institution | 744 | $146,533,000 | $196,000 | $1,000,000 | $77,000 | $699,000 |
| Application Withdrawn By Applicant | 571 | $122,077,000 | $213,000 | $1,136,000 | $120,000 | $1,896,000 |
| File Closed For Incompleteness | 297 | $64,980,000 | $218,000 | $641,000 | $87,000 | $430,000 |
| Preapproval Denied by Financial Institution | 25 | $5,047,000 | $201,000 | $400,000 | $67,000 | $147,000 |
| Application Approved But Not Accepted | 15 | $2,174,000 | $144,000 | $273,000 | $85,000 | $154,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval 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 |
|---|---|---|---|---|---|---|
| Credit Application Incomplete | 221 | $42,871,000 | $193,000 | $1,000,000 | $78,000 | $393,000 |
| Other | 174 | $32,265,000 | $185,000 | $635,000 | $79,000 | $387,000 |
| Collateral | 107 | $22,517,000 | $210,000 | $540,000 | $93,000 | $606,000 |
| Debt-To-Income Ratio | 106 | $22,658,000 | $213,000 | $679,000 | $58,000 | $215,000 |
| Credit History | 102 | $18,965,000 | $185,000 | $760,000 | $73,000 | $699,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 21 | $4,824,000 | $229,000 | $424,000 | $88,000 | $329,000 |
| Employment History | 19 | $3,701,000 | $194,000 | $333,000 | $64,000 | $149,000 |
| Unverifiable Information | 11 | $2,399,000 | $218,000 | $400,000 | $57,000 | $122,000 |
| Mortgage Insurance Denied | 1 | $389,000 | $389,000 | $389,000 | $113,000 | $113,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Norwich Commercial Group Inc's 2017 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 Norwich Commercial Group Inc'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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