Reading Co-Operative Bank Mortgage Lending & HMDA Data, 2003
In 2003, Reading Co-Operative Bank of Wakefield, MA reported 224 mortgage applications totaling $46.6 million. The average application was for $208,241, and applicants reported an average income of $81,580. 88% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Boston, MA-NH (172) and Lawrence, MA-NH (1).
| Mortgage Company & Address | Reading Co-Operative Bank 180 Haven Street Wakefield, MA 01867 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 224 |
| Total Mortgage Loan Application Amount | $46,646,000 |
| Average Mortgage Loan Application Amount | $208,241 |
| Highest Mortgage Loan Application Amount | $840,000 |
| Average Applicant Income | $81,580 |
| Highest Applicant Income | $1,511,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Reading Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Middlesex, Massachusetts | 158 | $ 32,881,000 | $ 208,107 | $ 92,000 |
| Essex, Massachusetts | 12 | $ 2,948,000 | $ 245,666 | $ 93,000 |
| Suffolk, Massachusetts | 3 | $ 392,000 | $ 130,666 | $ 78,000 |
Mortgage Loan Application Detail Totals for Reading Co-Operative Bank in 2003
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 (home purchase or home improvement, one-to-four family) | 161 | $28,943,000 | $171,500 | $456,000 | $68,500 | $324,000 |
| Home Purchase (one-to-four family) | 56 | $15,729,000 | $268,000 | $840,000 | $114,000 | $1,511,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 4 | $1,521,000 | $380,000 | $500,000 | $0 | $0 |
| Home Improvement (one-to-four family) | 3 | $453,000 | $178,000 | $260,000 | $75,000 | $91,000 |
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 | 200 | $40,241,000 | $195,000 | $840,000 | $80,500 | $1,511,000 |
| Information not provided by applicant in mail or telephone application | 13 | $3,052,000 | $216,500 | $584,000 | $97,500 | $262,000 |
| Not applicable | 6 | $2,191,000 | $357,500 | $500,000 | $0 | $0 |
| Other | 2 | $743,000 | $371,000 | $420,000 | $103,000 | $103,000 |
| American Indian or Alaskan Native | 1 | $177,000 | $177,000 | $177,000 | $120,000 | $120,000 |
| Asian or Pacific Islander | 1 | $81,000 | $81,000 | $81,000 | $82,000 | $82,000 |
| Hispanic | 1 | $161,000 | $161,000 | $161,000 | $65,000 | $65,000 |
| Black | 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) | 224 | $46,646,000 | $206,500 | $840,000 | $74,500 | $1,511,000 |
| 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 | 198 | $40,244,000 | $194,500 | $600,000 | $83,500 | $1,511,000 |
| Application Denied By Financial Institution | 14 | $3,890,000 | $282,500 | $513,000 | $82,000 | $966,000 |
| Application Approved But Not Accepted | 10 | $1,442,000 | $147,500 | $264,000 | $77,000 | $150,000 |
| Application Withdrawn By Applicant | 2 | $1,070,000 | $535,000 | $840,000 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 10 | $2,907,000 | $287,000 | $513,000 | $98,500 | $966,000 |
| Credit History | 4 | $983,000 | $245,500 | $500,000 | $57,500 | $91,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Reading Co-Operative Bank's 2003 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 Reading Co-Operative Bank'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.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About