Clearpoint Funding, Inc. Mortgage Lending & HMDA Data, 2008
In 2008, Clearpoint Funding, Inc. of Westborough, MA reported 357 mortgage applications totaling $84.0 million. The average application was for $235,361, and applicants reported an average income of $75,464. 46% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Boston-Quincy, MA (66), Cambridge-Newton-Framingham, MA (47) and Worcester, MA (42) (applications in parentheses).
| Mortgage Company & Address | Clearpoint Funding, Inc. 4 Technology Drive, Suite 200 Westborough, MA 01581 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2013 2012 2011 2010 2009 2008 |
| Total Number of Mortgage Applications | 357 |
| Total Mortgage Loan Application Amount | $84,024,000 |
| Average Mortgage Loan Application Amount | $235,361 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $75,464 |
| Highest Applicant Income | $678,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Clearpoint Funding, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Boston-Quincy, MA | 66 | $ 18,118,000 | $ 274,515 | $ 84,000 |
| Cambridge-Newton-Framingham, MA | 47 | $ 11,979,000 | $ 254,872 | $ 75,000 |
| Worcester, MA | 42 | $ 8,995,000 | $ 214,166 | $ 69,000 |
| Hartford-West Hartford-East Hartford, CT | 19 | $ 3,916,000 | $ 206,105 | $ 70,000 |
| Peabody, MA | 16 | $ 4,650,000 | $ 290,625 | $ 81,000 |
| Providence-New Bedford-Fall River, RI-MA | 15 | $ 4,224,000 | $ 281,600 | $ 66,000 |
| Springfield, MA | 12 | $ 2,047,000 | $ 170,583 | $ 65,000 |
| Atlanta-Sandy Springs-Marietta, GA | 9 | $ 1,464,000 | $ 162,666 | $ 54,000 |
| Baltimore-Towson, MD | 6 | $ 1,971,000 | $ 328,500 | $ 78,000 |
| Rockingham County-Strafford County, NH | 6 | $ 1,583,000 | $ 263,833 | $ 73,000 |
| Bridgeport-Stamford-Norwalk, CT | 5 | $ 2,530,000 | $ 506,000 | $ 144,000 |
| Manchester-Nashua, NH | 5 | $ 1,409,000 | $ 281,800 | $ 69,000 |
| Kansas City, MO-KS | 4 | $ 611,000 | $ 152,750 | $ 53,000 |
| Orlando-Kissimmee, FL | 4 | $ 876,000 | $ 219,000 | $ 179,000 |
| Portland-South Portland-Biddeford, ME | 4 | $ 877,000 | $ 219,250 | $ 75,000 |
| Barnstable Town, MA | 3 | $ 970,000 | $ 323,333 | $ 112,000 |
| Burlington-South Burlington, VT | 3 | $ 574,000 | $ 191,333 | $ 53,000 |
| Lewiston-Auburn, ME | 3 | $ 440,000 | $ 146,666 | $ 36,000 |
| San Diego-Carlsbad-San Marcos, CA | 3 | $ 533,000 | $ 177,666 | $ 78,000 |
| Albuquerque, NM | 2 | $ 262,000 | $ 131,000 | $ 77,000 |
| Chicago-Naperville-Joliet, IL | 2 | $ 475,000 | $ 237,500 | $ 81,000 |
| Columbia, SC | 2 | $ 312,000 | $ 156,000 | $ 60,000 |
| New Haven-Milford, CT | 2 | $ 527,000 | $ 263,500 | $ 66,000 |
| Omaha-Council Bluffs, NE-IA | 2 | $ 375,000 | $ 187,500 | $ 77,500 |
| Anderson, SC | 1 | $ 126,000 | $ 126,000 | $ 62,000 |
| Auburn-Opelika, AL | 1 | $ 164,000 | $ 164,000 | $ 128,000 |
| Augusta-Richmond County, GA-SC | 1 | $ 209,000 | $ 209,000 | $ 90,000 |
| Bangor, ME | 1 | $ 155,000 | $ 155,000 | $ 53,000 |
| Birmingham-Hoover, AL | 1 | $ 166,000 | $ 166,000 | $ 113,000 |
| Bismarck, ND | 1 | $ 145,000 | $ 145,000 | $ 38,000 |
| Charleston-North Charleston-Summerville, SC | 1 | $ 110,000 | $ 110,000 | $ 40,000 |
| Columbus, GA-AL | 1 | $ 145,000 | $ 145,000 | $ 68,000 |
| Davenport-Moline-Rock Island, IA-IL | 1 | $ 103,000 | $ 103,000 | $ 47,000 |
| Hagerstown-Martinsburg, MD-WV | 1 | $ 150,000 | $ 150,000 | $ 39,000 |
| Hinesville-Fort Stewart, GA | 1 | $ 258,000 | $ 258,000 | $ 70,000 |
| Hot Springs, AR | 1 | $ 175,000 | $ 175,000 | $ 37,000 |
| Huntsville, AL | 1 | $ 237,000 | $ 237,000 | $ 80,000 |
| Idaho Falls, ID | 1 | $ 150,000 | $ 150,000 | $ 50,000 |
| Jacksonville, FL | 1 | $ 95,000 | $ 95,000 | $ 72,000 |
| Miami-Miami Beach-Kendall, FL | 1 | $ 230,000 | $ 230,000 | $ 78,000 |
| Norwich-New London, CT | 1 | $ 164,000 | $ 164,000 | $ 53,000 |
| Pine Bluff, AR | 1 | $ 105,000 | $ 105,000 | $ 53,000 |
| Pittsfield, MA | 1 | $ 208,000 | $ 208,000 | $ 52,000 |
| Redding, CA | 1 | $ 364,000 | $ 364,000 | $ 162,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 188,000 | $ 188,000 | $ 68,000 |
| Santa Ana-Anaheim-Irvine, CA | 1 | $ 380,000 | $ 380,000 | $ 60,000 |
| Savannah, GA | 1 | $ 153,000 | $ 153,000 | $ 14,000 |
| Tacoma, WA | 1 | $ 225,000 | $ 225,000 | $ 42,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 1 | $ 385,000 | $ 385,000 | $ 124,000 |
| Wilmington, DE-MD-NJ | 1 | $ 225,000 | $ 225,000 | $ 42,000 |
Mortgage Loan Application Detail Totals for Clearpoint Funding, Inc. in 2008
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 | 262 | $63,639,000 | $242,000 | $1,500,000 | $77,000 | $678,000 |
| Home Purchase | 87 | $18,829,000 | $216,000 | $475,000 | $73,000 | $502,000 |
| Home Improvement | 8 | $1,556,000 | $194,000 | $280,000 | $52,000 | $135,000 |
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 | 217 | $54,442,000 | $250,000 | $1,500,000 | $83,000 | $678,000 |
| Not Provided | 122 | $24,752,000 | $202,000 | $490,000 | $60,000 | $160,000 |
| Asian | 11 | $3,233,000 | $293,000 | $417,000 | $97,000 | $160,000 |
| Hispanic | 4 | $717,000 | $179,000 | $230,000 | $46,000 | $78,000 |
| Black or African American | 3 | $880,000 | $293,000 | $385,000 | $79,000 | $124,000 |
| 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) | 317 | $75,630,000 | $238,000 | $1,500,000 | $78,000 | $678,000 |
| FHA-insured (Federal Housing Administration) | 40 | $8,394,000 | $209,000 | $390,000 | $56,000 | $130,000 |
| 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 | 164 | $41,361,000 | $252,000 | $1,500,000 | $85,000 | $678,000 |
| Application Withdrawn By Applicant | 147 | $31,961,000 | $217,000 | $505,000 | $68,000 | $492,000 |
| Application Denied By Financial Institution | 26 | $5,558,000 | $213,000 | $385,000 | $61,000 | $175,000 |
| File Closed For Incompleteness | 13 | $3,247,000 | $249,000 | $417,000 | $62,000 | $135,000 |
| Application Approved But Not Accepted | 7 | $1,897,000 | $271,000 | $444,000 | $75,000 | $151,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 2 | $483,000 | $241,000 | $258,000 | $59,000 | $70,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Clearpoint Funding, Inc.'s 2008 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 Clearpoint Funding, Inc.'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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