Savings Institute Bank & Trust Mortgage Lending & HMDA Data, 2005
In 2005, Savings Institute Bank & Trust of Willimantic, CT reported 891 mortgage applications totaling $118.6 million, down 14% from 2004. The average application was for $133,127, and applicants reported an average income of $69,686. 78% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Norwich-New London, CT (257), Hartford-West Hartford-East Hartford, CT (186) and Providence-New Bedford-Fall River, RI-MA (5) (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 | 891 |
| Total Mortgage Loan Application Amount | $118,617,000 |
| Average Mortgage Loan Application Amount | $133,127 |
| Highest Mortgage Loan Application Amount | $1,338,000 |
| Average Applicant Income | $69,686 |
| Highest Applicant Income | $522,000 |
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records Savings Institute Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 412 | $ 43,765,000 | $ 106,225 | $ 57,000 |
| New London, Connecticut | 257 | $ 41,003,000 | $ 159,544 | $ 67,000 |
| Tolland, Connecticut | 133 | $ 19,877,000 | $ 149,451 | $ 84,000 |
| Hartford, Connecticut | 44 | $ 6,661,000 | $ 151,386 | $ 85,000 |
| Middlesex, Connecticut | 9 | $ 1,692,000 | $ 188,000 | $ 96,000 |
| Washington, Rhode Island | 5 | $ 619,000 | $ 123,800 | $ 56,000 |
| Suffolk, Massachusetts | 3 | $ 660,000 | $ 220,000 | $ 144,000 |
| Litchfield, Connecticut | 2 | $ 200,000 | $ 100,000 | $ 93,000 |
| New Haven, Connecticut | 2 | $ 349,000 | $ 174,500 | $ 30,000 |
| Hampden, Massachusetts | 2 | $ 177,000 | $ 88,500 | $ 48,000 |
| Worcester, Massachusetts | 1 | $ 522,000 | $ 522,000 | $ 178,000 |
Mortgage Loan Application Detail Totals for Savings Institute Bank & Trust in 2005
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 Improvement | 300 | $22,118,000 | $42,666 | $1,338,000 | $48,666 | $324,000 |
| Home Purchase | 297 | $58,101,000 | $233,500 | $775,000 | $81,000 | $522,000 |
| Refinancing | 294 | $38,398,000 | $138,333 | $500,000 | $68,333 | $467,000 |
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 | 831 | $113,199,000 | $161,250 | $1,338,000 | $73,000 | $522,000 |
| Hispanic | 27 | $2,739,000 | $141,000 | $250,000 | $52,000 | $99,000 |
| Not Provided | 18 | $690,000 | $48,500 | $115,000 | $59,500 | $226,000 |
| Asian | 8 | $1,424,000 | $178,000 | $510,000 | $69,000 | $136,000 |
| Black or African American | 4 | $503,000 | $125,000 | $180,000 | $48,000 | $68,000 |
| American Indian or Alaskan Native | 2 | $47,000 | $23,000 | $30,000 | $43,000 | $56,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $15,000 | $15,000 | $15,000 | $99,000 | $99,000 |
| Not applicable | 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) | 872 | $115,543,000 | $157,500 | $1,338,000 | $72,250 | $522,000 |
| FHA-insured (Federal Housing Administration) | 16 | $2,407,000 | $141,000 | $217,000 | $48,000 | $67,000 |
| VA-guaranteed (Veterans Administration) | 3 | $667,000 | $222,000 | $325,000 | $61,000 | $104,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 698 | $97,217,000 | $166,000 | $1,338,000 | $67,333 | $522,000 |
| Application Denied By Financial Institution | 98 | $6,611,000 | $84,000 | $368,000 | $61,000 | $285,000 |
| Application Withdrawn By Applicant | 64 | $9,871,000 | $154,000 | $750,000 | $68,000 | $246,000 |
| Preapproval Denied by Financial Institution | 21 | $3,092,000 | $147,000 | $277,000 | $48,000 | $90,000 |
| Application Approved But Not Accepted | 6 | $1,345,000 | $226,500 | $420,000 | $182,500 | $278,000 |
| File Closed For Incompleteness | 4 | $481,000 | $120,000 | $160,000 | $46,000 | $102,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 51 | $2,672,000 | $96,666 | $275,000 | $59,333 | $226,000 |
| Debt-To-Income Ratio | 32 | $2,976,000 | $114,000 | $368,000 | $41,000 | $87,000 |
| Other | 26 | $3,433,000 | $133,500 | $268,000 | $53,000 | $285,000 |
| Collateral | 6 | $194,000 | $32,000 | $55,000 | $138,000 | $270,000 |
| Employment History | 3 | $398,000 | $119,000 | $234,000 | $44,000 | $64,000 |
| Mortgage Insurance Denied | 1 | $30,000 | $30,000 | $30,000 | $95,000 | $95,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Savings Institute Bank & Trust's 2005 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.
For a list of all lenders in Connecticut, 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