North American Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, North American Bank & Trust of Cheshire, CT reported 57 mortgage applications totaling $5.3 million. The average application was for $93,842, and applicants reported an average income of $48,491. 60% of its applications resulted in an originated loan and 30% were denied. Its largest markets were Waterbury, CT (34), Hartford, CT (14) and New Haven-Meriden, CT (4) (applications in parentheses).
| Mortgage Company & Address | North American Bank & Trust 609 West Johnson Avenue Cheshire, CT 06401 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 57 |
| Total Mortgage Loan Application Amount | $5,349,000 |
| Average Mortgage Loan Application Amount | $93,842 |
| Highest Mortgage Loan Application Amount | $550,000 |
| Average Applicant Income | $48,491 |
| Highest Applicant Income | $125,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records North American Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Waterbury, CT | 34 | $ 2,544,000 | $ 74,823 | $ 55,000 |
| Hartford, CT | 14 | $ 1,124,000 | $ 80,285 | $ 41,000 |
| New Haven-Meriden, CT | 4 | $ 1,078,000 | $ 269,500 | $ 27,000 |
| Bridgeport, CT | 3 | $ 178,000 | $ 59,333 | $ 28,000 |
| Danbury, CT | 1 | $ 185,000 | $ 185,000 | $ 84,000 |
Mortgage Loan Application Detail Totals for North American Bank & Trust 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) | 38 | $2,850,000 | $75,000 | $185,000 | $58,000 | $125,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 8 | $1,896,000 | $237,000 | $550,000 | $0 | $0 |
| Home Improvement (one-to-four family) | 8 | $269,000 | $33,000 | $80,000 | $49,000 | $88,000 |
| Home Purchase (one-to-four family) | 3 | $334,000 | $111,000 | $200,000 | $56,000 | $93,000 |
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 | 47 | $3,477,000 | $73,000 | $200,000 | $56,000 | $125,000 |
| Not applicable | 6 | $1,456,000 | $242,000 | $550,000 | $0 | $0 |
| Hispanic | 2 | $156,000 | $78,000 | $94,000 | $60,000 | $87,000 |
| Information not provided by applicant in mail or telephone application | 1 | $240,000 | $240,000 | $240,000 | $0 | $0 |
| Black | 1 | $20,000 | $20,000 | $20,000 | $16,000 | $16,000 |
| Other | 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) | 56 | $5,187,000 | $92,000 | $550,000 | $44,000 | $125,000 |
| FHA-insured (Federal Housing Administration) | 1 | $162,000 | $162,000 | $162,000 | $68,000 | $68,000 |
| 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 | 34 | $3,241,000 | $95,000 | $550,000 | $46,000 | $125,000 |
| Application Denied By Financial Institution | 17 | $1,440,000 | $84,000 | $168,000 | $52,000 | $106,000 |
| Application Withdrawn By Applicant | 4 | $527,000 | $131,000 | $240,000 | $24,000 | $51,000 |
| Application Approved But Not Accepted | 2 | $141,000 | $70,000 | $86,000 | $41,000 | $43,000 |
| 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 | 7 | $574,000 | $82,000 | $162,000 | $59,000 | $104,000 |
| Other | 6 | $411,000 | $68,000 | $150,000 | $51,000 | $106,000 |
| Debt-To-Income Ratio | 4 | $455,000 | $113,000 | $168,000 | $48,000 | $97,000 |
| 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 |
| 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 North American Bank & Trust'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 North American Bank & Trust'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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