The Simsbury Bank & Trust Company Mortgage Lending & HMDA Data, 2017
In 2017, The Simsbury Bank & Trust Company of Simsbury, CT reported 454 mortgage applications totaling $109.7 million, down 27% from 2016. The average application was for $241,552, and applicants reported an average income of $136,757. 82% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (319), New Haven-Milford, CT (82) and Bridgeport-Stamford-Norwalk, CT (10) (applications in parentheses).
| Mortgage Company & Address | The Simsbury Bank & Trust Company 981 Hopmeadow St Simsbury, CT 06070 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 454 |
| Total Mortgage Loan Application Amount | $109,665,000 |
| Average Mortgage Loan Application Amount | $241,552 |
| Highest Mortgage Loan Application Amount | $2,296,000 |
| Average Applicant Income | $136,757 |
| Highest Applicant Income | $1,842,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Simsbury Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 The Simsbury Bank & Trust Company in 2017
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 | 347 | $84,860,000 | $244,000 | $2,296,000 | $132,000 | $1,842,000 |
| Refinancing | 101 | $24,036,000 | $237,000 | $750,000 | $150,000 | $907,000 |
| Home Improvement | 6 | $769,000 | $128,000 | $360,000 | $189,000 | $512,000 |
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 | 390 | $92,000,000 | $235,000 | $900,000 | $143,000 | $1,842,000 |
| Asian | 24 | $6,858,000 | $285,000 | $528,000 | $113,000 | $260,000 |
| Hispanic | 14 | $2,955,000 | $211,000 | $371,000 | $76,000 | $175,000 |
| Black or African American | 13 | $2,476,000 | $190,000 | $504,000 | $78,000 | $168,000 |
| Not Provided | 11 | $2,330,000 | $211,000 | $383,000 | $106,000 | $218,000 |
| Not applicable | 2 | $3,046,000 | $1,523,000 | $2,296,000 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 454 | $109,665,000 | $241,000 | $2,296,000 | $136,000 | $1,842,000 |
| 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 | 372 | $89,404,000 | $240,000 | $2,296,000 | $140,000 | $1,842,000 |
| Application Withdrawn By Applicant | 54 | $13,278,000 | $245,000 | $750,000 | $126,000 | $907,000 |
| Application Denied By Financial Institution | 20 | $5,160,000 | $258,000 | $833,000 | $112,000 | $350,000 |
| File Closed For Incompleteness | 5 | $1,416,000 | $283,000 | $528,000 | $158,000 | $260,000 |
| Application Approved But Not Accepted | 2 | $228,000 | $114,000 | $128,000 | $63,000 | $72,000 |
| Preapproval Denied by Financial Institution | 1 | $179,000 | $179,000 | $179,000 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 8 | $1,445,000 | $180,000 | $399,000 | $111,000 | $194,000 |
| Debt-To-Income Ratio | 5 | $1,170,000 | $234,000 | $278,000 | $38,000 | $93,000 |
| Other | 4 | $1,407,000 | $351,000 | $833,000 | $132,000 | $204,000 |
| Credit History | 4 | $1,317,000 | $329,000 | $525,000 | $160,000 | $350,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Simsbury Bank & Trust Company's 2017 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 The Simsbury Bank & Trust Company'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.
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