Savings Institute Bank & Trust Mortgage Lending & HMDA Data, 2011
In 2011, Savings Institute Bank & Trust of Willimantic, CT reported 750 mortgage applications totaling $112.8 million. The average application was for $150,398, and applicants reported an average income of $79,832. 71% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (210), Norwich-New London, CT (185) and New Haven-Milford, CT (12) (applications in parentheses).
| Mortgage Company & Address | Savings Institute Bank & Trust Po Box 95 Willimantic, CT 06226 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 750 |
| Total Mortgage Loan Application Amount | $112,799,000 |
| Average Mortgage Loan Application Amount | $150,398 |
| Highest Mortgage Loan Application Amount | $930,000 |
| Average Applicant Income | $79,832 |
| Highest Applicant Income | $565,000 |
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records Savings Institute Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Hartford-West Hartford-East Hartford, CT | 210 | $ 37,600,000 | $ 179,047 | $ 97,000 |
| Norwich-New London, CT | 185 | $ 31,175,000 | $ 168,513 | $ 84,000 |
| New Haven-Milford, CT | 12 | $ 1,443,000 | $ 120,250 | $ 78,000 |
| Providence-New Bedford-Fall River, RI-MA | 6 | $ 1,972,000 | $ 328,666 | $ 97,000 |
| Barnstable Town, MA | 2 | $ 238,000 | $ 119,000 | $ 143,000 |
| Birmingham-Hoover, AL | 1 | $ 3,000 | $ 3,000 | $ 44,000 |
| Bridgeport-Stamford-Norwalk, CT | 1 | $ 672,000 | $ 672,000 | $ 175,000 |
| Springfield, MA | 1 | $ 226,000 | $ 226,000 | $ 143,000 |
| Worcester, MA | 1 | $ 200,000 | $ 200,000 | $ 95,000 |
Mortgage Loan Application Detail Totals for Savings Institute Bank & Trust in 2011
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 | 366 | $65,926,000 | $180,000 | $750,000 | $90,000 | $565,000 |
| Home Purchase | 247 | $36,675,000 | $148,000 | $844,000 | $68,000 | $444,000 |
| Home Improvement | 137 | $10,198,000 | $74,000 | $930,000 | $74,000 | $257,000 |
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 | 678 | $103,679,000 | $152,000 | $930,000 | $83,000 | $565,000 |
| Hispanic | 25 | $2,778,000 | $111,000 | $217,000 | $51,000 | $112,000 |
| Not Provided | 16 | $747,000 | $46,000 | $352,000 | $46,000 | $120,000 |
| Asian | 13 | $2,181,000 | $167,000 | $500,000 | $96,000 | $243,000 |
| Not applicable | 9 | $1,920,000 | $213,000 | $462,000 | $0 | $0 |
| Black or African American | 7 | $1,362,000 | $194,000 | $672,000 | $85,000 | $175,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $12,000 | $12,000 | $12,000 | $25,000 | $25,000 |
| American Indian or Alaskan Native | 1 | $120,000 | $120,000 | $120,000 | $86,000 | $86,000 |
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) | 645 | $94,765,000 | $146,000 | $930,000 | $84,000 | $565,000 |
| FHA-insured (Federal Housing Administration) | 51 | $8,594,000 | $168,000 | $672,000 | $61,000 | $175,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 45 | $7,711,000 | $171,000 | $282,000 | $49,000 | $93,000 |
| VA-guaranteed (Veterans Administration) | 9 | $1,729,000 | $192,000 | $238,000 | $61,000 | $92,000 |
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 | 535 | $83,185,000 | $155,000 | $930,000 | $85,000 | $565,000 |
| Application Denied By Financial Institution | 81 | $8,833,000 | $109,000 | $500,000 | $61,000 | $223,000 |
| Application Withdrawn By Applicant | 67 | $11,777,000 | $175,000 | $844,000 | $87,000 | $444,000 |
| Preapproval Denied by Financial Institution | 45 | $5,407,000 | $120,000 | $235,000 | $43,000 | $120,000 |
| Application Approved But Not Accepted | 14 | $2,064,000 | $147,000 | $750,000 | $70,000 | $178,000 |
| File Closed For Incompleteness | 5 | $1,134,000 | $226,000 | $417,000 | $110,000 | $179,000 |
| Preapproval Approved but not Accepted | 3 | $399,000 | $133,000 | $259,000 | $54,000 | $73,000 |
| 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 | 43 | $4,416,000 | $102,000 | $266,000 | $40,000 | $90,000 |
| Credit History | 38 | $3,251,000 | $85,000 | $352,000 | $54,000 | $120,000 |
| Collateral | 15 | $3,326,000 | $221,000 | $500,000 | $100,000 | $223,000 |
| Employment History | 11 | $959,000 | $87,000 | $225,000 | $43,000 | $120,000 |
| Credit Application Incomplete | 10 | $1,315,000 | $131,000 | $220,000 | $66,000 | $102,000 |
| Other | 9 | $973,000 | $108,000 | $225,000 | $56,000 | $91,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Savings Institute Bank & Trust's 2011 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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