Milford National Bank & Trust Co. Mortgage Lending & HMDA Data, 2012
In 2012, Milford National Bank & Trust Co. of Milford, MA reported 84 mortgage applications totaling $17.3 million, down 12% from 2011. The average application was for $205,595, and applicants reported an average income of $116,642. 76% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Worcester, MA (57), Boston-Quincy, MA (16) and Cambridge-Newton-Framingham, MA (7) (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 | 84 |
| Total Mortgage Loan Application Amount | $17,270,000 |
| Average Mortgage Loan Application Amount | $205,595 |
| Highest Mortgage Loan Application Amount | $600,000 |
| Average Applicant Income | $116,642 |
| Highest Applicant Income | $935,000 |
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Milford National Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 | 60 | $12,141,000 | $202,000 | $417,000 | $125,000 | $935,000 |
| Home Improvement | 14 | $3,176,000 | $226,000 | $600,000 | $122,000 | $213,000 |
| Home Purchase | 10 | $1,953,000 | $195,000 | $400,000 | $59,000 | $160,000 |
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 | 67 | $13,582,000 | $202,000 | $600,000 | $115,000 | $434,000 |
| Not Provided | 9 | $2,052,000 | $228,000 | $416,000 | $114,000 | $217,000 |
| Not applicable | 4 | $835,000 | $208,000 | $250,000 | $0 | $0 |
| Asian | 2 | $487,000 | $243,000 | $417,000 | $481,000 | $935,000 |
| Hispanic | 2 | $314,000 | $157,000 | $164,000 | $53,000 | $64,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 84 | $17,270,000 | $205,000 | $600,000 | $116,000 | $935,000 |
| 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 | 64 | $12,354,000 | $193,000 | $417,000 | $112,000 | $935,000 |
| Application Denied By Financial Institution | 9 | $2,503,000 | $278,000 | $600,000 | $98,000 | $193,000 |
| Application Withdrawn By Applicant | 6 | $1,156,000 | $192,000 | $344,000 | $145,000 | $434,000 |
| File Closed For Incompleteness | 3 | $660,000 | $220,000 | $260,000 | $201,000 | $357,000 |
| Application Approved But Not Accepted | 2 | $597,000 | $298,000 | $400,000 | $117,000 | $160,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 5 | $1,394,000 | $278,000 | $600,000 | $99,000 | $193,000 |
| Credit History | 4 | $1,109,000 | $277,000 | $416,000 | $95,000 | $134,000 |
| Debt-To-Income Ratio | 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 |
| 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 Milford National Bank & Trust Co.'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 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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