Savings Bank of Maine Mortgage Lending & HMDA Data, 2006
In 2006, Savings Bank of Maine of Gardiner, ME reported 722 mortgage applications totaling $106.8 million, down 19% from 2005. The average application was for $147,880, and applicants reported an average income of $62,134. 76% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Portland-South Portland-Biddeford, ME (71), Lewiston-Auburn, ME (10) and Cape Coral-Fort Myers, FL (1) (applications in parentheses).
| Mortgage Company & Address | Savings Bank of Maine Po Box 190 Gardiner, ME 04345 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 722 |
| Total Mortgage Loan Application Amount | $106,770,000 |
| Average Mortgage Loan Application Amount | $147,880 |
| Highest Mortgage Loan Application Amount | $7,200,000 |
| Average Applicant Income | $62,134 |
| Highest Applicant Income | $914,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Savings Bank of Maine filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Kennebec, Maine | 481 | $ 67,301,000 | $ 139,918 | $ 61,000 |
| Lincoln, Maine | 102 | $ 17,485,000 | $ 171,421 | $ 58,000 |
| Sagadahoc, Maine | 42 | $ 6,466,000 | $ 153,952 | $ 70,000 |
| Cumberland, Maine | 28 | $ 6,054,000 | $ 216,214 | $ 64,000 |
| Somerset, Maine | 24 | $ 2,541,000 | $ 105,875 | $ 54,000 |
| Waldo, Maine | 13 | $ 1,626,000 | $ 125,076 | $ 69,000 |
| Androscoggin, Maine | 12 | $ 1,558,000 | $ 129,833 | $ 57,000 |
| Franklin, Maine | 6 | $ 959,000 | $ 159,833 | $ 55,000 |
| Knox, Maine | 6 | $ 1,801,000 | $ 300,166 | $ 103,000 |
| Aroostook, Maine | 2 | $ 258,000 | $ 129,000 | $ 29,000 |
| Lee, Florida | 1 | $ 218,000 | $ 218,000 | $ 425,000 |
| Hancock, Maine | 1 | $ 280,000 | $ 280,000 | $ 21,000 |
| Oxford, Maine | 1 | $ 87,000 | $ 87,000 | $ 14,000 |
| Penobscot, Maine | 1 | $ 28,000 | $ 28,000 | $ 92,000 |
| Piscataquis, Maine | 1 | $ 45,000 | $ 45,000 | $ 0 |
| York, Maine | 1 | $ 63,000 | $ 63,000 | $ 22,000 |
Mortgage Loan Application Detail Totals for Savings Bank of Maine in 2006
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 | 333 | $45,727,000 | $137,000 | $1,500,000 | $58,000 | $366,000 |
| Home Purchase | 288 | $41,273,000 | $143,000 | $1,134,000 | $61,000 | $754,000 |
| Home Improvement | 101 | $19,770,000 | $195,000 | $7,200,000 | $79,000 | $914,000 |
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 | 698 | $102,321,000 | $146,000 | $7,200,000 | $64,000 | $914,000 |
| Not applicable | 22 | $4,184,000 | $190,000 | $1,500,000 | $0 | $0 |
| Hispanic | 2 | $265,000 | $132,000 | $150,000 | $32,000 | $45,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 701 | $103,776,000 | $148,000 | $7,200,000 | $62,000 | $914,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 13 | $1,511,000 | $116,000 | $178,000 | $31,000 | $45,000 |
| VA-guaranteed (Veterans Administration) | 8 | $1,483,000 | $185,000 | $365,000 | $60,000 | $118,000 |
| FHA-insured (Federal Housing 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 | 552 | $85,301,000 | $154,000 | $7,200,000 | $66,000 | $914,000 |
| Application Denied By Financial Institution | 109 | $13,863,000 | $127,000 | $417,000 | $46,000 | $125,000 |
| Application Approved But Not Accepted | 30 | $3,823,000 | $127,000 | $300,000 | $58,000 | $196,000 |
| Application Withdrawn By Applicant | 26 | $3,223,000 | $123,000 | $350,000 | $55,000 | $282,000 |
| File Closed For Incompleteness | 5 | $560,000 | $112,000 | $170,000 | $45,000 | $81,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 44 | $4,856,000 | $110,000 | $232,000 | $51,000 | $117,000 |
| Debt-To-Income Ratio | 29 | $4,303,000 | $148,000 | $417,000 | $43,000 | $111,000 |
| Collateral | 21 | $3,243,000 | $154,000 | $348,000 | $53,000 | $125,000 |
| Other | 6 | $602,000 | $100,000 | $199,000 | $40,000 | $57,000 |
| Employment History | 5 | $231,000 | $46,000 | $106,000 | $15,000 | $34,000 |
| Unverifiable Information | 3 | $325,000 | $108,000 | $165,000 | $26,000 | $80,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $303,000 | $303,000 | $303,000 | $82,000 | $82,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Savings Bank of Maine's 2006 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 Savings Bank of Maine'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 Maine, download the full spreadsheet
with aggregated HMDA statistics today.
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