North Cambridge Co-Operative B Mortgage Lending & HMDA Data, 2004
In 2004, North Cambridge Co-Operative B of Cambridge, MA reported 50 mortgage applications totaling $12.1 million, down 44% from 2003. The average application was for $242,080, and applicants reported an average income of $134,340. 78% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (38), Boston-Quincy, MA (7) and Essex County, MA (3) (applications in parentheses).
| Mortgage Company & Address | North Cambridge Co-Operative B 2360 Massachusetts Avenue Cambridge, MA 02140 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 50 |
| Total Mortgage Loan Application Amount | $12,104,000 |
| Average Mortgage Loan Application Amount | $242,080 |
| Highest Mortgage Loan Application Amount | $480,000 |
| Average Applicant Income | $134,340 |
| Highest Applicant Income | $602,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records North Cambridge Co-Operative B filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 North Cambridge Co-Operative B 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 23 | $6,571,000 | $285,000 | $480,000 | $132,000 | $388,000 |
| Refinancing | 16 | $3,637,000 | $227,000 | $454,000 | $173,000 | $602,000 |
| Home Improvement | 11 | $1,896,000 | $172,000 | $340,000 | $83,000 | $136,000 |
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 | 44 | $10,597,000 | $240,000 | $480,000 | $121,000 | $388,000 |
| Black or African American | 3 | $852,000 | $284,000 | $372,000 | $71,000 | $77,000 |
| Not applicable | 2 | $290,000 | $145,000 | $175,000 | $357,000 | $602,000 |
| Hispanic | 1 | $365,000 | $365,000 | $365,000 | $137,000 | $137,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 49 | $11,984,000 | $244,000 | $480,000 | $140,000 | $602,000 |
| VA-guaranteed (Veterans Administration) | 1 | $120,000 | $120,000 | $120,000 | $79,000 | $79,000 |
| 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 |
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 | 39 | $9,220,000 | $236,000 | $480,000 | $114,000 | $388,000 |
| Application Approved But Not Accepted | 4 | $835,000 | $208,000 | $454,000 | $305,000 | $602,000 |
| Application Denied By Financial Institution | 4 | $1,330,000 | $332,000 | $450,000 | $31,000 | $62,000 |
| File Closed For Incompleteness | 2 | $505,000 | $252,000 | $255,000 | $213,000 | $359,000 |
| Application Withdrawn By Applicant | 1 | $214,000 | $214,000 | $214,000 | $131,000 | $131,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 3 | $930,000 | $310,000 | $450,000 | $34,000 | $62,000 |
| Credit History | 1 | $400,000 | $400,000 | $400,000 | $24,000 | $24,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into North Cambridge Co-Operative B'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 North Cambridge Co-Operative B'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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