Northern Bank & Trust Company Mortgage Lending & HMDA Data, 2019
In 2019, Northern Bank & Trust Company of Woburn, MA reported 1,076 mortgage applications totaling $441.5 million, up 100% from 2018. The average application was for $410,288, and applicants reported an average income of $162,227. 64% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (575), Boston, MA (174) and Worcester, MA-CT (56) (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 | 1,076 |
| Total Mortgage Loan Application Amount | $441,470,000 |
| Average Mortgage Loan Application Amount | $410,288 |
| Highest Mortgage Loan Application Amount | $8,625,000 |
| Average Applicant Income | $162,227 |
| Highest Applicant Income | $3,013,000 |
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records Northern Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2019
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 | 488 | $204,750,000 | $419,000 | $2,805,000 | $165,000 | $3,013,000 |
| Refinancing | 316 | $129,160,000 | $408,000 | $8,625,000 | $152,000 | $545,000 |
| Cash-out Refinancing | 247 | $96,055,000 | $388,000 | $3,005,000 | $170,000 | $1,380,000 |
| Other Purpose | 20 | $5,220,000 | $261,000 | $495,000 | $150,000 | $385,000 |
| Home Improvement | 5 | $6,285,000 | $1,257,000 | $4,305,000 | $203,000 | $281,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $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 | 812 | $311,880,000 | $384,000 | $3,005,000 | $168,000 | $3,013,000 |
| Asian | 108 | $39,290,000 | $363,000 | $965,000 | $142,000 | $585,000 |
| Not Provided | 90 | $32,680,000 | $363,000 | $1,505,000 | $151,000 | $549,000 |
| Not applicable | 35 | $45,825,000 | $1,309,000 | $8,625,000 | $0 | $0 |
| Hispanic | 18 | $6,340,000 | $352,000 | $545,000 | $114,000 | $245,000 |
| Black or African American | 10 | $3,690,000 | $369,000 | $595,000 | $132,000 | $308,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $1,420,000 | $710,000 | $945,000 | $196,000 | $203,000 |
| 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) | 1,075 | $441,195,000 | $410,000 | $8,625,000 | $163,000 | $3,013,000 |
| FHA-insured (Federal Housing Administration) | 1 | $275,000 | $275,000 | $275,000 | $50,000 | $50,000 |
| 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 | 693 | $275,215,000 | $397,000 | $8,625,000 | $160,000 | $3,013,000 |
| Application Withdrawn By Applicant | 159 | $59,575,000 | $374,000 | $985,000 | $192,000 | $1,380,000 |
| Preapproval Approved but not Accepted | 128 | $56,870,000 | $444,000 | $2,805,000 | $141,000 | $525,000 |
| Application Denied By Financial Institution | 57 | $31,185,000 | $547,000 | $6,305,000 | $156,000 | $550,000 |
| File Closed For Incompleteness | 25 | $11,735,000 | $469,000 | $1,005,000 | $173,000 | $474,000 |
| Application Approved But Not Accepted | 7 | $4,795,000 | $685,000 | $3,005,000 | $207,000 | $562,000 |
| Preapproval Denied by Financial Institution | 7 | $2,095,000 | $299,000 | $475,000 | $103,000 | $200,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 1,012 | $408,190,000 | $403,000 | $8,625,000 | $163,000 | $3,013,000 |
| Debt-To-Income Ratio | 32 | $15,400,000 | $481,000 | $1,355,000 | $125,000 | $473,000 |
| Credit History | 18 | $12,450,000 | $691,000 | $6,305,000 | $169,000 | $518,000 |
| Collateral | 9 | $3,055,000 | $339,000 | $735,000 | $175,000 | $464,000 |
| Other | 2 | $510,000 | $255,000 | $305,000 | $326,000 | $550,000 |
| Credit Application Incomplete | 1 | $415,000 | $415,000 | $415,000 | $89,000 | $89,000 |
| Employment History | 1 | $215,000 | $215,000 | $215,000 | $68,000 | $68,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $1,235,000 | $1,235,000 | $1,235,000 | $0 | $0 |
| Mortgage Insurance Denied | 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 2019 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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