Northern Bank & Trust Company Mortgage Lending & HMDA Data, 2017
In 2017, Northern Bank & Trust Company of Woburn, MA reported 382 mortgage applications totaling $217.6 million, down 50% from 2016. The average application was for $569,523, and applicants reported an average income of $177,963. 78% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (234), Boston, MA (67) and Manchester-Nashua, NH (18) (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 | 382 |
| Total Mortgage Loan Application Amount | $217,558,000 |
| Average Mortgage Loan Application Amount | $569,523 |
| Highest Mortgage Loan Application Amount | $16,000,000 |
| Average Applicant Income | $177,963 |
| Highest Applicant Income | $2,053,000 |
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records Northern Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2017
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 | 217 | $118,449,000 | $545,000 | $16,000,000 | $187,000 | $2,053,000 |
| Refinancing | 148 | $78,929,000 | $533,000 | $11,200,000 | $160,000 | $1,390,000 |
| Home Improvement | 17 | $20,180,000 | $1,187,000 | $13,750,000 | $219,000 | $1,250,000 |
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 | 308 | $124,577,000 | $404,000 | $3,870,000 | $191,000 | $2,053,000 |
| Not applicable | 28 | $74,745,000 | $2,669,000 | $16,000,000 | $0 | $0 |
| Asian | 20 | $6,635,000 | $331,000 | $666,000 | $172,000 | $625,000 |
| Not Provided | 17 | $7,777,000 | $457,000 | $1,700,000 | $267,000 | $1,569,000 |
| Hispanic | 4 | $1,532,000 | $383,000 | $490,000 | $120,000 | $161,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $1,827,000 | $609,000 | $800,000 | $193,000 | $267,000 |
| Black or African American | 1 | $215,000 | $215,000 | $215,000 | $32,000 | $32,000 |
| American Indian or Alaskan Native | 1 | $250,000 | $250,000 | $250,000 | $44,000 | $44,000 |
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) | 381 | $217,293,000 | $570,000 | $16,000,000 | $178,000 | $2,053,000 |
| FHA-insured (Federal Housing Administration) | 1 | $265,000 | $265,000 | $265,000 | $58,000 | $58,000 |
| 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 | 298 | $180,258,000 | $604,000 | $16,000,000 | $183,000 | $2,053,000 |
| Application Withdrawn By Applicant | 36 | $11,334,000 | $314,000 | $750,000 | $144,000 | $625,000 |
| Application Denied By Financial Institution | 18 | $13,189,000 | $732,000 | $3,870,000 | $233,000 | $1,390,000 |
| File Closed For Incompleteness | 15 | $7,604,000 | $506,000 | $1,040,000 | $179,000 | $414,000 |
| Preapproval Denied by Financial Institution | 9 | $2,691,000 | $299,000 | $495,000 | $64,000 | $101,000 |
| Application Approved But Not Accepted | 6 | $2,482,000 | $413,000 | $800,000 | $109,000 | $267,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 Northern Bank & Trust Company's 2017 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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