Nutmeg State Financial C.U. Mortgage Lending & HMDA Data, 2014
In 2014, Nutmeg State Financial C.U. of Rocky Hill, CT reported 128 mortgage applications totaling $11.1 million, down 49% from 2013. The average application was for $86,437, and applicants reported an average income of $85,421. 57% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (117), New Haven-Milford, CT (6) and Norwich-New London, CT (2) (applications in parentheses).
| Mortgage Company & Address | Nutmeg State Financial C.U. 521 Cromwell Avenue Rocky Hill, CT 06067 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 128 |
| Total Mortgage Loan Application Amount | $11,064,000 |
| Average Mortgage Loan Application Amount | $86,437 |
| Highest Mortgage Loan Application Amount | $370,000 |
| Average Applicant Income | $85,421 |
| Highest Applicant Income | $380,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Nutmeg State Financial C.U. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Nutmeg State Financial C.U. in 2014
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 | 88 | $8,815,000 | $100,000 | $370,000 | $85,000 | $246,000 |
| Home Improvement | 37 | $1,814,000 | $49,000 | $200,000 | $88,000 | $380,000 |
| Home Purchase | 3 | $435,000 | $145,000 | $235,000 | $66,000 | $88,000 |
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 |
|---|---|---|---|---|---|---|
| Not Provided | 71 | $7,030,000 | $99,000 | $370,000 | $87,000 | $212,000 |
| White | 48 | $3,453,000 | $71,000 | $250,000 | $82,000 | $380,000 |
| Hispanic | 5 | $423,000 | $84,000 | $200,000 | $90,000 | $158,000 |
| Black or African American | 3 | $128,000 | $42,000 | $94,000 | $106,000 | $196,000 |
| American Indian or Alaskan Native | 1 | $30,000 | $30,000 | $30,000 | $50,000 | $50,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 128 | $11,064,000 | $86,000 | $370,000 | $85,000 | $380,000 |
| 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 | 73 | $5,627,000 | $77,000 | $339,000 | $94,000 | $380,000 |
| Application Denied By Financial Institution | 27 | $1,877,000 | $69,000 | $246,000 | $62,000 | $188,000 |
| Loan Purchased By The Institution | 16 | $2,570,000 | $160,000 | $370,000 | $92,000 | $212,000 |
| Application Withdrawn By Applicant | 10 | $854,000 | $85,000 | $200,000 | $67,000 | $158,000 |
| Application Approved But Not Accepted | 2 | $136,000 | $68,000 | $124,000 | $111,000 | $115,000 |
| File Closed For Incompleteness | 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 | 8 | $566,000 | $70,000 | $148,000 | $66,000 | $180,000 |
| Debt-To-Income Ratio | 8 | $609,000 | $76,000 | $165,000 | $39,000 | $66,000 |
| Collateral | 6 | $167,000 | $27,000 | $92,000 | $76,000 | $130,000 |
| Credit Application Incomplete | 3 | $149,000 | $49,000 | $74,000 | $49,000 | $80,000 |
| Other | 2 | $386,000 | $193,000 | $246,000 | $120,000 | $188,000 |
| Unverifiable Information | 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 Nutmeg State Financial C.U.'s 2014 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 Nutmeg State Financial C.U.'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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