Northern Bank & Trust Company Mortgage Lending & HMDA Data, 2003
In 2003, Northern Bank & Trust Company of Woburn, MA reported 368 mortgage applications totaling $84.6 million. The average application was for $229,817, and applicants reported an average income of $112,277. 86% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Boston, MA-NH (247), Lowell, MA-NH (90) and Lawrence, MA-NH (13) (applications in parentheses).
| Mortgage Company & Address | Northern Bank & Trust Company 275 Mishawum Road Woburn, MA 01801 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 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 368 |
| Total Mortgage Loan Application Amount | $84,573,000 |
| Average Mortgage Loan Application Amount | $229,817 |
| Highest Mortgage Loan Application Amount | $1,200,000 |
| Average Applicant Income | $112,277 |
| Highest Applicant Income | $1,174,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Northern Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Northern Bank & Trust Company 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) | 293 | $63,863,000 | $206,750 | $1,200,000 | $209,000 | $1,174,000 |
| Home Purchase (one-to-four family) | 65 | $18,892,000 | $299,750 | $745,000 | $132,250 | $816,000 |
| Home Improvement (one-to-four family) | 7 | $253,000 | $36,000 | $200,000 | $97,000 | $450,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 3 | $1,565,000 | $521,000 | $800,000 | $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 | 281 | $58,832,000 | $243,250 | $745,000 | $171,000 | $1,174,000 |
| Information not provided by applicant in mail or telephone application | 41 | $9,574,000 | $233,000 | $875,000 | $146,000 | $1,154,000 |
| Not applicable | 40 | $14,351,000 | $305,500 | $1,200,000 | $0 | $0 |
| Hispanic | 2 | $364,000 | $182,000 | $264,000 | $57,000 | $86,000 |
| Other | 1 | $160,000 | $160,000 | $160,000 | $45,000 | $45,000 |
| American Indian or Alaskan Native | 1 | $275,000 | $275,000 | $275,000 | $85,000 | $85,000 |
| Asian or Pacific Islander | 1 | $630,000 | $630,000 | $630,000 | $714,000 | $714,000 |
| Black | 1 | $387,000 | $387,000 | $387,000 | $88,000 | $88,000 |
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) | 368 | $84,573,000 | $250,000 | $1,200,000 | $169,750 | $1,174,000 |
| 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 | 315 | $71,791,000 | $204,250 | $1,200,000 | $211,750 | $1,174,000 |
| Application Approved But Not Accepted | 20 | $4,955,000 | $248,500 | $650,000 | $56,500 | $257,000 |
| Application Denied By Financial Institution | 17 | $3,043,000 | $179,000 | $675,000 | $52,000 | $113,000 |
| Application Withdrawn By Applicant | 14 | $3,915,000 | $337,666 | $500,000 | $150,333 | $217,000 |
| File Closed For Incompleteness | 2 | $869,000 | $434,000 | $669,000 | $78,000 | $82,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 10 | $1,643,000 | $164,000 | $675,000 | $37,000 | $78,000 |
| Credit History | 5 | $840,000 | $168,000 | $260,000 | $84,000 | $113,000 |
| Collateral | 1 | $335,000 | $335,000 | $335,000 | $28,000 | $28,000 |
| 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 Northern Bank & Trust Company'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 Northern Bank & Trust Company'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.
For a list of all lenders in Massachusetts, download the full spreadsheet
with aggregated HMDA statistics today.
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