North Cambridge Co-Operative B Mortgage Lending & HMDA Data, 2013
In 2013, North Cambridge Co-Operative B of Cambridge, MA reported 47 mortgage applications totaling $13.5 million, up 34% from 2012. The average application was for $287,659, and applicants reported an average income of $120,680. 83% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (43), Peabody, MA (3) and Boston-Quincy, MA (1) (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 | 47 |
| Total Mortgage Loan Application Amount | $13,520,000 |
| Average Mortgage Loan Application Amount | $287,659 |
| Highest Mortgage Loan Application Amount | $575,000 |
| Average Applicant Income | $120,680 |
| Highest Applicant Income | $541,000 |
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records North Cambridge Co-Operative B filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2013
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 | 21 | $6,107,000 | $290,000 | $500,000 | $118,000 | $289,000 |
| Refinancing | 18 | $4,828,000 | $268,000 | $575,000 | $105,000 | $258,000 |
| Home Improvement | 8 | $2,585,000 | $323,000 | $450,000 | $163,000 | $541,000 |
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 | 40 | $11,549,000 | $288,000 | $575,000 | $114,000 | $289,000 |
| Not Provided | 4 | $1,049,000 | $262,000 | $450,000 | $218,000 | $541,000 |
| Black or African American | 2 | $569,000 | $284,000 | $357,000 | $93,000 | $111,000 |
| Asian | 1 | $353,000 | $353,000 | $353,000 | $34,000 | $34,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 47 | $13,520,000 | $287,000 | $575,000 | $120,000 | $541,000 |
| 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 | 39 | $11,155,000 | $286,000 | $575,000 | $114,000 | $541,000 |
| File Closed For Incompleteness | 6 | $1,980,000 | $330,000 | $417,000 | $142,000 | $289,000 |
| Application Approved But Not Accepted | 1 | $200,000 | $200,000 | $200,000 | $258,000 | $258,000 |
| Application Denied By Financial Institution | 1 | $185,000 | $185,000 | $185,000 | $111,000 | $111,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into North Cambridge Co-Operative B's 2013 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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