Scituate Federal Savings Bank Mortgage Lending & HMDA Data, 2014
In 2014, Scituate Federal Savings Bank of Scituate, MA reported 179 mortgage applications totaling $75.4 million, up 3% from 2013. The average application was for $421,078, and applicants reported an average income of $180,731. 68% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Boston, MA (123), Cambridge-Newton-Framingham, MA (22) and Barnstable Town, MA (6) (applications in parentheses).
| Mortgage Company & Address | Scituate Federal Savings Bank 72 Front Street Scituate, MA 02066 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 179 |
| Total Mortgage Loan Application Amount | $75,373,000 |
| Average Mortgage Loan Application Amount | $421,078 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $180,731 |
| Highest Applicant Income | $988,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Scituate Federal Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Plymouth, Massachusetts | 90 | $ 31,775,000 | $ 353,055 | $ 162,000 |
| Norfolk, Massachusetts | 22 | $ 10,104,000 | $ 459,272 | $ 188,000 |
| Middlesex, Massachusetts | 13 | $ 6,917,000 | $ 532,076 | $ 192,000 |
| Suffolk, Massachusetts | 11 | $ 6,276,000 | $ 570,545 | $ 234,000 |
| Essex, Massachusetts | 9 | $ 5,610,000 | $ 623,333 | $ 290,000 |
| Barnstable, Massachusetts | 6 | $ 3,625,000 | $ 604,166 | $ 327,000 |
| Worcester, Massachusetts | 4 | $ 2,234,000 | $ 558,500 | $ 203,000 |
| Bristol, Massachusetts | 2 | $ 1,002,000 | $ 501,000 | $ 257,000 |
Mortgage Loan Application Detail Totals for Scituate Federal Savings Bank in 2014
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 Purchase | 113 | $47,554,000 | $420,000 | $1,500,000 | $184,000 | $988,000 |
| Refinancing | 51 | $23,196,000 | $454,000 | $945,000 | $179,000 | $655,000 |
| Home Improvement | 15 | $4,623,000 | $308,000 | $560,000 | $162,000 | $312,000 |
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 | 164 | $69,161,000 | $421,000 | $1,500,000 | $185,000 | $988,000 |
| Not Provided | 6 | $3,242,000 | $540,000 | $820,000 | $169,000 | $234,000 |
| Asian | 4 | $1,915,000 | $478,000 | $644,000 | $204,000 | $313,000 |
| Not applicable | 3 | $800,000 | $266,000 | $330,000 | $0 | $0 |
| American Indian or Alaskan Native | 1 | $180,000 | $180,000 | $180,000 | $58,000 | $58,000 |
| Hispanic | 1 | $75,000 | $75,000 | $75,000 | $34,000 | $34,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 179 | $75,373,000 | $421,000 | $1,500,000 | $181,000 | $988,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans 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 | 121 | $50,303,000 | $415,000 | $1,500,000 | $187,000 | $988,000 |
| Preapproval Approved but not Accepted | 18 | $6,625,000 | $368,000 | $1,040,000 | $125,000 | $300,000 |
| Loan Purchased By The Institution | 17 | $10,519,000 | $618,000 | $988,000 | $216,000 | $404,000 |
| Application Approved But Not Accepted | 6 | $2,024,000 | $337,000 | $563,000 | $256,000 | $988,000 |
| Application Withdrawn By Applicant | 6 | $1,853,000 | $308,000 | $380,000 | $109,000 | $160,000 |
| Application Denied By Financial Institution | 5 | $1,779,000 | $355,000 | $510,000 | $121,000 | $184,000 |
| File Closed For Incompleteness | 3 | $1,265,000 | $421,000 | $805,000 | $211,000 | $301,000 |
| Preapproval Denied by Financial Institution | 3 | $1,005,000 | $335,000 | $625,000 | $124,000 | $245,000 |
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 | 4 | $1,382,000 | $345,000 | $625,000 | $114,000 | $245,000 |
| Collateral | 3 | $1,175,000 | $391,000 | $510,000 | $142,000 | $184,000 |
| Debt-To-Income Ratio | 1 | $227,000 | $227,000 | $227,000 | $93,000 | $93,000 |
| Employment History | 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Scituate Federal Savings Bank's 2014 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 Scituate Federal Savings Bank'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 Massachusetts, download the full spreadsheet
with aggregated HMDA statistics today.
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