Salem Co-Operative Bank Mortgage Lending & HMDA Data, 2014
In 2014, Salem Co-Operative Bank of Salem, NH reported 266 mortgage applications totaling $63.4 million, down 38% from 2013. The average application was for $238,345, and applicants reported an average income of $113,015. 59% of its applications resulted in an originated loan and 23% were denied. Its largest markets were Rockingham County-Strafford County, NH (163), Cambridge-Newton-Framingham, MA (55) and Manchester-Nashua, NH (38) (applications in parentheses).
| Mortgage Company & Address | Salem Co-Operative Bank 3 South Broadway Salem, NH 03079 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 |
| Total Number of Mortgage Applications | 266 |
| Total Mortgage Loan Application Amount | $63,400,000 |
| Average Mortgage Loan Application Amount | $238,345 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $113,015 |
| Highest Applicant Income | $706,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Salem Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Rockingham County-Strafford County, NH | 163 | $ 39,942,000 | $ 245,042 | $ 117,000 |
| Cambridge-Newton-Framingham, MA | 55 | $ 12,001,000 | $ 218,200 | $ 84,000 |
| Manchester-Nashua, NH | 38 | $ 9,228,000 | $ 242,842 | $ 132,000 |
| Boston, MA | 1 | $ 220,000 | $ 220,000 | $ 168,000 |
| Worcester, MA-CT | 1 | $ 180,000 | $ 180,000 | $ 216,000 |
Mortgage Loan Application Detail Totals for Salem Co-Operative Bank 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 150 | $37,175,000 | $247,000 | $1,000,000 | $113,000 | $636,000 |
| Refinancing | 68 | $16,087,000 | $236,000 | $774,000 | $106,000 | $344,000 |
| Home Improvement | 48 | $10,138,000 | $211,000 | $618,000 | $123,000 | $706,000 |
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 | 211 | $50,096,000 | $237,000 | $1,000,000 | $120,000 | $706,000 |
| Not Provided | 25 | $6,173,000 | $246,000 | $624,000 | $134,000 | $275,000 |
| Not applicable | 18 | $3,574,000 | $198,000 | $815,000 | $0 | $0 |
| Asian | 5 | $1,590,000 | $318,000 | $415,000 | $115,000 | $178,000 |
| Hispanic | 5 | $1,251,000 | $250,000 | $371,000 | $114,000 | $233,000 |
| Black or African American | 2 | $716,000 | $358,000 | $359,000 | $113,000 | $135,000 |
| 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) | 266 | $63,400,000 | $238,000 | $1,000,000 | $113,000 | $706,000 |
| 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 | 157 | $34,210,000 | $217,000 | $774,000 | $106,000 | $706,000 |
| Application Denied By Financial Institution | 60 | $14,910,000 | $248,000 | $1,000,000 | $103,000 | $636,000 |
| Application Withdrawn By Applicant | 32 | $8,715,000 | $272,000 | $618,000 | $162,000 | $706,000 |
| File Closed For Incompleteness | 13 | $4,397,000 | $338,000 | $723,000 | $141,000 | $272,000 |
| Application Approved But Not Accepted | 4 | $1,168,000 | $292,000 | $403,000 | $92,000 | $231,000 |
| Loan Purchased By The Institution | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 27 | $6,108,000 | $226,000 | $513,000 | $75,000 | $179,000 |
| Collateral | 14 | $4,079,000 | $291,000 | $1,000,000 | $164,000 | $636,000 |
| Credit History | 11 | $2,926,000 | $266,000 | $815,000 | $87,000 | $173,000 |
| Other | 5 | $1,073,000 | $214,000 | $370,000 | $94,000 | $143,000 |
| Employment History | 3 | $724,000 | $241,000 | $470,000 | $143,000 | $193,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Salem Co-Operative Bank'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 Salem 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 New Hampshire, download the full spreadsheet
with aggregated HMDA statistics today.
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