Salem Co-Operative Bank Mortgage Lending & HMDA Data, 2010
In 2010, Salem Co-Operative Bank of Salem, NH reported 262 mortgage applications totaling $51.5 million, down 25% from 2009. The average application was for $196,587, and applicants reported an average income of $113,931. 63% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Rockingham County-Strafford County, NH (181), Manchester-Nashua, NH (32) and Peabody, MA (27) (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 | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 262 |
| Total Mortgage Loan Application Amount | $51,506,000 |
| Average Mortgage Loan Application Amount | $196,587 |
| Highest Mortgage Loan Application Amount | $700,000 |
| Average Applicant Income | $113,931 |
| Highest Applicant Income | $2,000,000 |
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(HMDA) records Salem Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Salem Co-Operative Bank in 2010
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 | 163 | $29,894,000 | $183,000 | $600,000 | $114,000 | $2,000,000 |
| Home Purchase | 96 | $21,497,000 | $223,000 | $700,000 | $115,000 | $438,000 |
| Home Improvement | 3 | $115,000 | $38,000 | $50,000 | $76,000 | $113,000 |
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 | 226 | $45,037,000 | $199,000 | $700,000 | $114,000 | $2,000,000 |
| Not Provided | 31 | $5,549,000 | $179,000 | $560,000 | $111,000 | $438,000 |
| Asian | 4 | $745,000 | $186,000 | $400,000 | $184,000 | $385,000 |
| Hispanic | 1 | $175,000 | $175,000 | $175,000 | $31,000 | $31,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 262 | $51,506,000 | $196,000 | $700,000 | $114,000 | $2,000,000 |
| 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 | 164 | $31,392,000 | $191,000 | $700,000 | $112,000 | $438,000 |
| Application Denied By Financial Institution | 45 | $9,087,000 | $201,000 | $605,000 | $75,000 | $280,000 |
| Application Withdrawn By Applicant | 23 | $4,172,000 | $181,000 | $600,000 | $118,000 | $421,000 |
| File Closed For Incompleteness | 16 | $3,775,000 | $235,000 | $500,000 | $105,000 | $247,000 |
| Application Approved But Not Accepted | 11 | $2,574,000 | $234,000 | $560,000 | $333,000 | $2,000,000 |
| Preapproval Approved but not Accepted | 2 | $335,000 | $167,000 | $220,000 | $69,000 | $98,000 |
| Preapproval Denied by Financial Institution | 1 | $171,000 | $171,000 | $171,000 | $54,000 | $54,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 28 | $5,379,000 | $192,000 | $417,000 | $59,000 | $228,000 |
| Collateral | 8 | $1,977,000 | $247,000 | $605,000 | $124,000 | $280,000 |
| Credit History | 8 | $1,422,000 | $177,000 | $420,000 | $85,000 | $193,000 |
| Unverifiable Information | 1 | $300,000 | $300,000 | $300,000 | $63,000 | $63,000 |
| Employment History | 1 | $180,000 | $180,000 | $180,000 | $29,000 | $29,000 |
| 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 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Salem Co-Operative Bank's 2010 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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