Savings Institute Bank & Trust Mortgage Lending & HMDA Data, 2010
In 2010, Savings Institute Bank & Trust of Willimantic, CT reported 751 mortgage applications totaling $126.2 million, down 26% from 2009. The average application was for $168,046, and applicants reported an average income of $90,617. 74% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Norwich-New London, CT (223), Hartford-West Hartford-East Hartford, CT (196) and Providence-New Bedford-Fall River, RI-MA (12) (applications in parentheses).
| Mortgage Company & Address | Savings Institute Bank & Trust 803 Main Street Willimantic, CT 06226 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 751 |
| Total Mortgage Loan Application Amount | $126,203,000 |
| Average Mortgage Loan Application Amount | $168,046 |
| Highest Mortgage Loan Application Amount | $2,348,000 |
| Average Applicant Income | $90,617 |
| Highest Applicant Income | $836,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Savings Institute Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Windham, Connecticut | 290 | $ 38,030,000 | $ 131,137 | $ 70,000 |
| New London, Connecticut | 223 | $ 41,797,000 | $ 187,430 | $ 105,000 |
| Tolland, Connecticut | 128 | $ 23,411,000 | $ 182,898 | $ 99,000 |
| Hartford, Connecticut | 47 | $ 8,251,000 | $ 175,553 | $ 106,000 |
| Middlesex, Connecticut | 21 | $ 7,112,000 | $ 338,666 | $ 124,000 |
| Washington, Rhode Island | 10 | $ 2,514,000 | $ 251,400 | $ 192,000 |
| New Haven, Connecticut | 4 | $ 706,000 | $ 176,500 | $ 139,000 |
| Hampden, Massachusetts | 3 | $ 439,000 | $ 146,333 | $ 81,000 |
| Providence, Rhode Island | 2 | $ 229,000 | $ 114,500 | $ 108,000 |
| Fairfield, Connecticut | 1 | $ 700,000 | $ 700,000 | $ 145,000 |
| Worcester, Massachusetts | 1 | $ 393,000 | $ 393,000 | $ 116,000 |
Mortgage Loan Application Detail Totals for Savings Institute Bank & Trust 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 | 416 | $82,501,000 | $198,000 | $2,348,000 | $104,000 | $704,000 |
| Home Purchase | 197 | $33,060,000 | $167,000 | $1,800,000 | $74,000 | $836,000 |
| Home Improvement | 138 | $10,642,000 | $77,000 | $600,000 | $74,000 | $398,000 |
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 | 696 | $116,634,000 | $167,000 | $2,348,000 | $93,000 | $836,000 |
| Hispanic | 25 | $3,074,000 | $122,000 | $400,000 | $54,000 | $120,000 |
| Asian | 15 | $3,924,000 | $261,000 | $567,000 | $117,000 | $268,000 |
| Not applicable | 8 | $1,691,000 | $211,000 | $825,000 | $0 | $0 |
| Black or African American | 7 | $880,000 | $125,000 | $176,000 | $51,000 | $161,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 659 | $110,242,000 | $167,000 | $2,348,000 | $95,000 | $836,000 |
| FHA-insured (Federal Housing Administration) | 63 | $10,630,000 | $168,000 | $383,000 | $60,000 | $244,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 20 | $3,255,000 | $162,000 | $249,000 | $50,000 | $86,000 |
| VA-guaranteed (Veterans Administration) | 9 | $2,076,000 | $230,000 | $306,000 | $73,000 | $109,000 |
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 | $93,909,000 | $170,000 | $1,800,000 | $98,000 | $836,000 |
| Application Denied By Financial Institution | 99 | $14,321,000 | $144,000 | $2,348,000 | $68,000 | $488,000 |
| Application Withdrawn By Applicant | 58 | $10,446,000 | $180,000 | $830,000 | $87,000 | $488,000 |
| Preapproval Denied by Financial Institution | 21 | $2,621,000 | $124,000 | $383,000 | $42,000 | $132,000 |
| Application Approved But Not Accepted | 16 | $3,577,000 | $223,000 | $825,000 | $68,000 | $180,000 |
| File Closed For Incompleteness | 5 | $1,329,000 | $265,000 | $700,000 | $106,000 | $158,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 | 50 | $7,471,000 | $149,000 | $2,348,000 | $43,000 | $100,000 |
| Collateral | 23 | $4,187,000 | $182,000 | $451,000 | $80,000 | $267,000 |
| Credit History | 20 | $1,050,000 | $52,000 | $400,000 | $47,000 | $124,000 |
| Other | 13 | $2,103,000 | $161,000 | $830,000 | $117,000 | $488,000 |
| Credit Application Incomplete | 10 | $1,857,000 | $185,000 | $310,000 | $106,000 | $214,000 |
| Employment History | 2 | $165,000 | $82,000 | $100,000 | $29,000 | $34,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $100,000 | $100,000 | $100,000 | $0 | $0 |
| Mortgage Insurance Denied | 1 | $9,000 | $9,000 | $9,000 | $54,000 | $54,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Savings Institute Bank & Trust'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 Savings Institute Bank & Trust'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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