Northern Bank & Trust Company Mortgage Lending & HMDA Data, 2008
In 2008, Northern Bank & Trust Company of Woburn, MA reported 92 mortgage applications totaling $29.7 million, up 64% from 2007. The average application was for $322,782, and applicants reported an average income of $136,630. 70% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (72), Peabody, MA (9) and Rockingham County-Strafford County, NH (4) (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 | 92 |
| Total Mortgage Loan Application Amount | $29,696,000 |
| Average Mortgage Loan Application Amount | $322,782 |
| Highest Mortgage Loan Application Amount | $2,400,000 |
| Average Applicant Income | $136,630 |
| Highest Applicant Income | $1,188,000 |
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records Northern Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2008
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 | 38 | $12,556,000 | $330,000 | $1,160,000 | $124,000 | $436,000 |
| Home Purchase | 34 | $14,147,000 | $416,000 | $2,400,000 | $157,000 | $1,188,000 |
| Home Improvement | 20 | $2,993,000 | $149,000 | $816,000 | $126,000 | $333,000 |
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 | 67 | $15,722,000 | $234,000 | $816,000 | $145,000 | $1,108,000 |
| Not applicable | 11 | $6,541,000 | $594,000 | $1,630,000 | $17,000 | $196,000 |
| Not Provided | 10 | $6,106,000 | $610,000 | $2,400,000 | $242,000 | $1,188,000 |
| Asian | 2 | $955,000 | $477,000 | $650,000 | $62,000 | $70,000 |
| Black or African American | 1 | $200,000 | $200,000 | $200,000 | $79,000 | $79,000 |
| Hispanic | 1 | $172,000 | $172,000 | $172,000 | $31,000 | $31,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 92 | $29,696,000 | $322,000 | $2,400,000 | $137,000 | $1,188,000 |
| 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 | 64 | $20,365,000 | $318,000 | $1,630,000 | $149,000 | $1,188,000 |
| Application Denied By Financial Institution | 15 | $4,354,000 | $290,000 | $2,400,000 | $108,000 | $242,000 |
| Application Approved But Not Accepted | 7 | $2,363,000 | $337,000 | $775,000 | $118,000 | $405,000 |
| Application Withdrawn By Applicant | 4 | $970,000 | $242,000 | $350,000 | $63,000 | $144,000 |
| File Closed For Incompleteness | 2 | $1,644,000 | $822,000 | $900,000 | $172,000 | $205,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 5 | $940,000 | $188,000 | $305,000 | $115,000 | $195,000 |
| Collateral | 3 | $2,494,000 | $831,000 | $2,400,000 | $139,000 | $192,000 |
| Debt-To-Income Ratio | 2 | $202,000 | $101,000 | $172,000 | $52,000 | $74,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $268,000 | $134,000 | $208,000 | $73,000 | $73,000 |
| Other | 2 | $380,000 | $190,000 | $230,000 | $153,000 | $242,000 |
| Unverifiable Information | 1 | $70,000 | $70,000 | $70,000 | $75,000 | $75,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Northern Bank & Trust Company's 2008 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.
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with aggregated HMDA statistics today.
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