Milford National Bank & Trust Co. Mortgage Lending & HMDA Data, 2009
In 2009, Milford National Bank & Trust Co. of Milford, MA reported 97 mortgage applications totaling $19.9 million, down 52% from 2008. The average application was for $204,927, and applicants reported an average income of $106,092. 51% of its applications resulted in an originated loan and 20% were denied. Its largest markets were Worcester, MA (69), Boston-Quincy, MA (17) and Cambridge-Newton-Framingham, MA (4) (applications in parentheses).
| Mortgage Company & Address | Milford National Bank & Trust Co. 300 East Main Street Milford, MA 01757 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 97 |
| Total Mortgage Loan Application Amount | $19,878,000 |
| Average Mortgage Loan Application Amount | $204,927 |
| Highest Mortgage Loan Application Amount | $500,000 |
| Average Applicant Income | $106,092 |
| Highest Applicant Income | $462,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Milford National Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Milford National Bank & Trust Co. in 2009
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 | 69 | $15,357,000 | $222,000 | $500,000 | $113,000 | $462,000 |
| Home Improvement | 17 | $2,708,000 | $159,000 | $335,000 | $104,000 | $366,000 |
| Home Purchase | 11 | $1,813,000 | $164,000 | $265,000 | $66,000 | $116,000 |
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 | 86 | $17,708,000 | $205,000 | $500,000 | $107,000 | $462,000 |
| Not Provided | 8 | $1,810,000 | $226,000 | $366,000 | $111,000 | $188,000 |
| Hispanic | 2 | $20,000 | $10,000 | $12,000 | $42,000 | $46,000 |
| Asian | 1 | $340,000 | $340,000 | $340,000 | $95,000 | $95,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 97 | $19,878,000 | $204,000 | $500,000 | $106,000 | $462,000 |
| 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 | 49 | $9,276,000 | $189,000 | $500,000 | $99,000 | $372,000 |
| Application Withdrawn By Applicant | 23 | $5,041,000 | $219,000 | $393,000 | $133,000 | $462,000 |
| Application Denied By Financial Institution | 19 | $4,152,000 | $218,000 | $383,000 | $99,000 | $366,000 |
| File Closed For Incompleteness | 6 | $1,409,000 | $234,000 | $360,000 | $84,000 | $126,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial 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 | 6 | $1,548,000 | $258,000 | $362,000 | $56,000 | $79,000 |
| Collateral | 4 | $1,194,000 | $298,000 | $383,000 | $146,000 | $215,000 |
| Other | 4 | $485,000 | $121,000 | $180,000 | $149,000 | $366,000 |
| Credit History | 4 | $585,000 | $146,000 | $220,000 | $70,000 | $126,000 |
| Unverifiable Information | 1 | $340,000 | $340,000 | $340,000 | $95,000 | $95,000 |
| 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 Milford National Bank & Trust Co.'s 2009 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 Milford National Bank & Trust Co.'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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