Northern Bank & Trust Company Mortgage Lending & HMDA Data, 2022
In 2022, Northern Bank & Trust Company of Woburn, MA reported 361 mortgage applications totaling $269.4 million, down 70% from 2021. The average application was for $746,246, and applicants reported an average income of $220,814. 59% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (168), Boston, MA (47) and Worcester, MA-CT (12) (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 | 361 |
| Total Mortgage Loan Application Amount | $269,395,000 |
| Average Mortgage Loan Application Amount | $746,246 |
| Highest Mortgage Loan Application Amount | $27,085,000 |
| Average Applicant Income | $220,814 |
| Highest Applicant Income | $4,120,000 |
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records Northern Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2022
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 | 235 | $180,225,000 | $766,000 | $27,085,000 | $197,000 | $3,157,000 |
| Cash-out Refinancing | 59 | $31,245,000 | $529,000 | $2,205,000 | $280,000 | $4,120,000 |
| Refinancing | 54 | $51,850,000 | $960,000 | $11,445,000 | $281,000 | $2,111,000 |
| Home Improvement | 8 | $3,940,000 | $492,000 | $1,405,000 | $170,000 | $258,000 |
| Other Purpose | 5 | $2,135,000 | $427,000 | $1,055,000 | $73,000 | $105,000 |
| 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 | 272 | $147,350,000 | $541,000 | $2,805,000 | $225,000 | $4,120,000 |
| Not applicable | 24 | $89,330,000 | $3,722,000 | $27,085,000 | $0 | $0 |
| Not Provided | 24 | $10,880,000 | $453,000 | $1,845,000 | $157,000 | $356,000 |
| Asian | 22 | $10,470,000 | $475,000 | $1,855,000 | $183,000 | $1,002,000 |
| Hispanic | 16 | $10,090,000 | $630,000 | $1,825,000 | $324,000 | $1,399,000 |
| Black or African American | 1 | $485,000 | $485,000 | $485,000 | $188,000 | $188,000 |
| 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) | 361 | $269,395,000 | $746,000 | $27,085,000 | $222,000 | $4,120,000 |
| 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 | 213 | $197,495,000 | $927,000 | $27,085,000 | $280,000 | $4,120,000 |
| Preapproval Approved but not Accepted | 93 | $47,975,000 | $515,000 | $1,845,000 | $157,000 | $448,000 |
| Application Denied By Financial Institution | 21 | $9,055,000 | $431,000 | $1,105,000 | $125,000 | $420,000 |
| Application Withdrawn By Applicant | 20 | $8,910,000 | $445,000 | $1,755,000 | $190,000 | $850,000 |
| File Closed For Incompleteness | 6 | $1,850,000 | $308,000 | $335,000 | $124,000 | $200,000 |
| Preapproval Denied by Financial Institution | 6 | $2,000,000 | $333,000 | $525,000 | $118,000 | $188,000 |
| Application Approved But Not Accepted | 2 | $2,110,000 | $1,055,000 | $1,655,000 | $73,000 | $73,000 |
| 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 | 334 | $258,340,000 | $773,000 | $27,085,000 | $230,000 | $4,120,000 |
| Debt-To-Income Ratio | 11 | $5,245,000 | $476,000 | $1,045,000 | $105,000 | $378,000 |
| Credit History | 5 | $1,855,000 | $371,000 | $435,000 | $126,000 | $171,000 |
| Other | 4 | $1,230,000 | $307,000 | $555,000 | $118,000 | $220,000 |
| Credit Application Incomplete | 3 | $855,000 | $285,000 | $405,000 | $70,000 | $84,000 |
| Collateral | 2 | $670,000 | $335,000 | $485,000 | $136,000 | $223,000 |
| Employment History | 1 | $1,105,000 | $1,105,000 | $1,105,000 | $420,000 | $420,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $95,000 | $95,000 | $95,000 | $188,000 | $188,000 |
| 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 2022 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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