Northern Bank & Trust Company Mortgage Lending & HMDA Data, 2024
In 2024, Northern Bank & Trust Company of Woburn, MA reported 219 mortgage applications totaling $172.1 million, up 70% from 2023. The average application was for $786,004, and applicants reported an average income of $276,739. 24% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (144), Boston, MA (28) and Rockingham County-Strafford County, NH (10) (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 | 219 |
| Total Mortgage Loan Application Amount | $172,135,000 |
| Average Mortgage Loan Application Amount | $786,004 |
| Highest Mortgage Loan Application Amount | $18,705,000 |
| Average Applicant Income | $276,739 |
| Highest Applicant Income | $2,832,000 |
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records Northern Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2024
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 | 103 | $110,195,000 | $1,069,000 | $18,705,000 | $336,000 | $2,832,000 |
| Other Purpose | 38 | $7,600,000 | $200,000 | $945,000 | $237,000 | $699,000 |
| Home Improvement | 36 | $12,020,000 | $333,000 | $4,005,000 | $251,000 | $781,000 |
| Cash-out Refinancing | 31 | $12,165,000 | $392,000 | $1,005,000 | $213,000 | $620,000 |
| Refinancing | 11 | $30,155,000 | $2,741,000 | $17,925,000 | $123,000 | $187,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 150 | $139,270,000 | $928,000 | $18,705,000 | $0 | $0 |
| White | 50 | $24,730,000 | $494,000 | $3,605,000 | $308,000 | $2,832,000 |
| Not Provided | 7 | $3,245,000 | $463,000 | $925,000 | $277,000 | $620,000 |
| Asian | 7 | $3,425,000 | $489,000 | $1,005,000 | $240,000 | $730,000 |
| Hispanic | 4 | $1,080,000 | $270,000 | $305,000 | $106,000 | $194,000 |
| Black or African American | 1 | $385,000 | $385,000 | $385,000 | $216,000 | $216,000 |
| 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) | 219 | $172,135,000 | $786,000 | $18,705,000 | $284,000 | $2,832,000 |
| 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 Purchased By The Institution | 138 | $101,450,000 | $735,000 | $18,705,000 | $0 | $0 |
| Loan Originated | 53 | $49,785,000 | $939,000 | $10,555,000 | $332,000 | $2,832,000 |
| Application Denied By Financial Institution | 9 | $1,515,000 | $168,000 | $255,000 | $107,000 | $279,000 |
| Application Withdrawn By Applicant | 7 | $8,685,000 | $1,240,000 | $2,215,000 | $202,000 | $429,000 |
| Preapproval Approved but not Accepted | 5 | $2,925,000 | $585,000 | $965,000 | $269,000 | $576,000 |
| Application Approved But Not Accepted | 4 | $6,590,000 | $1,647,000 | $4,355,000 | $162,000 | $187,000 |
| File Closed For Incompleteness | 3 | $1,185,000 | $395,000 | $505,000 | $323,000 | $511,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 210 | $170,620,000 | $812,000 | $18,705,000 | $311,000 | $2,832,000 |
| Debt-To-Income Ratio | 7 | $1,295,000 | $185,000 | $255,000 | $116,000 | $279,000 |
| Other | 1 | $45,000 | $45,000 | $45,000 | $77,000 | $77,000 |
| Credit History | 1 | $175,000 | $175,000 | $175,000 | $71,000 | $71,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Northern Bank & Trust Company's 2024 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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