Savings Institute Bank & Trust Mortgage Lending & HMDA Data, 2012
In 2012, Savings Institute Bank & Trust of Willimantic, CT reported 849 mortgage applications totaling $142.3 million, up 13% from 2011. The average application was for $167,570, and applicants reported an average income of $88,312. 69% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (242), Norwich-New London, CT (218) and New Haven-Milford, CT (9) (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 | 849 |
| Total Mortgage Loan Application Amount | $142,267,000 |
| Average Mortgage Loan Application Amount | $167,570 |
| Highest Mortgage Loan Application Amount | $4,200,000 |
| Average Applicant Income | $88,312 |
| Highest Applicant Income | $1,260,000 |
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records Savings Institute Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Savings Institute Bank & Trust in 2012
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 | 471 | $96,583,000 | $205,000 | $4,200,000 | $97,000 | $679,000 |
| Home Purchase | 256 | $37,643,000 | $147,000 | $580,000 | $72,000 | $372,000 |
| Home Improvement | 122 | $8,041,000 | $65,000 | $360,000 | $89,000 | $1,260,000 |
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 | 763 | $121,567,000 | $159,000 | $1,600,000 | $90,000 | $1,260,000 |
| Hispanic | 39 | $3,589,000 | $92,000 | $214,000 | $55,000 | $117,000 |
| Asian | 16 | $3,151,000 | $196,000 | $330,000 | $132,000 | $419,000 |
| Black or African American | 13 | $2,300,000 | $176,000 | $689,000 | $87,000 | $182,000 |
| Not applicable | 8 | $9,851,000 | $1,231,000 | $4,200,000 | $0 | $0 |
| Not Provided | 8 | $1,207,000 | $150,000 | $300,000 | $94,000 | $175,000 |
| American Indian or Alaskan Native | 1 | $393,000 | $393,000 | $393,000 | $158,000 | $158,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $209,000 | $209,000 | $209,000 | $104,000 | $104,000 |
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) | 718 | $119,670,000 | $166,000 | $4,200,000 | $94,000 | $1,260,000 |
| FHA-insured (Federal Housing Administration) | 74 | $12,994,000 | $175,000 | $393,000 | $61,000 | $177,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 43 | $6,783,000 | $157,000 | $245,000 | $48,000 | $85,000 |
| VA-guaranteed (Veterans Administration) | 14 | $2,820,000 | $201,000 | $286,000 | $71,000 | $167,000 |
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 | 584 | $105,014,000 | $179,000 | $4,200,000 | $91,000 | $576,000 |
| Application Denied By Financial Institution | 99 | $11,917,000 | $120,000 | $689,000 | $74,000 | $576,000 |
| Application Withdrawn By Applicant | 65 | $11,959,000 | $183,000 | $680,000 | $100,000 | $679,000 |
| Preapproval Denied by Financial Institution | 61 | $6,938,000 | $113,000 | $279,000 | $46,000 | $162,000 |
| Application Approved But Not Accepted | 25 | $4,418,000 | $176,000 | $417,000 | $99,000 | $419,000 |
| File Closed For Incompleteness | 14 | $2,013,000 | $143,000 | $300,000 | $198,000 | $1,260,000 |
| Preapproval Approved but not Accepted | 1 | $8,000 | $8,000 | $8,000 | $32,000 | $32,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 57 | $3,603,000 | $63,000 | $222,000 | $61,000 | $576,000 |
| Debt-To-Income Ratio | 50 | $6,338,000 | $126,000 | $393,000 | $50,000 | $162,000 |
| Collateral | 26 | $5,405,000 | $207,000 | $689,000 | $82,000 | $197,000 |
| Other | 16 | $1,922,000 | $120,000 | $318,000 | $68,000 | $196,000 |
| Credit Application Incomplete | 5 | $425,000 | $85,000 | $197,000 | $146,000 | $360,000 |
| Employment History | 5 | $790,000 | $158,000 | $225,000 | $38,000 | $66,000 |
| Unverifiable Information | 1 | $372,000 | $372,000 | $372,000 | $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 2012 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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