Wakefield Co-Operative Bank Mortgage Lending & HMDA Data, 2024
In 2024, Wakefield Co-Operative Bank of Wakefield, MA reported 31 mortgage applications totaling $13.5 million, down 66% from 2023. The average application was for $435,645, and applicants reported an average income of $193,870. 71% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (22), Boston, MA (4) and Barnstable Town, MA (2) (applications in parentheses).
| Mortgage Company & Address | Wakefield Co-Operative Bank 342 Main Street Wakefield, MA 01880 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 31 |
| Total Mortgage Loan Application Amount | $13,505,000 |
| Average Mortgage Loan Application Amount | $435,645 |
| Highest Mortgage Loan Application Amount | $1,105,000 |
| Average Applicant Income | $193,870 |
| Highest Applicant Income | $400,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Wakefield Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cambridge-Newton-Framingham, MA | 22 | $ 8,900,000 | $ 404,545 | $ 175,000 |
| Boston, MA | 4 | $ 2,290,000 | $ 572,500 | $ 289,000 |
| Barnstable Town, MA | 2 | $ 830,000 | $ 415,000 | $ 143,000 |
| Worcester, MA-CT | 2 | $ 1,210,000 | $ 605,000 | $ 221,000 |
| Amherst Town-Northampton, MA | 1 | $ 275,000 | $ 275,000 | $ 272,000 |
Mortgage Loan Application Detail Totals for Wakefield Co-Operative Bank in 2024
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 | 19 | $9,545,000 | $502,000 | $765,000 | $229,000 | $400,000 |
| Refinancing | 5 | $3,115,000 | $623,000 | $1,105,000 | $208,000 | $370,000 |
| Home Improvement | 4 | $160,000 | $40,000 | $55,000 | $73,000 | $97,000 |
| Other Purpose | 3 | $685,000 | $228,000 | $405,000 | $109,000 | $154,000 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 18 | $6,740,000 | $374,000 | $765,000 | $189,000 | $400,000 |
| Asian | 6 | $3,950,000 | $658,000 | $755,000 | $254,000 | $370,000 |
| Not Provided | 5 | $2,325,000 | $465,000 | $1,105,000 | $179,000 | $370,000 |
| Hispanic | 2 | $490,000 | $245,000 | $315,000 | $94,000 | $111,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 31 | $13,505,000 | $435,000 | $1,105,000 | $194,000 | $400,000 |
| 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 | 22 | $8,990,000 | $408,000 | $765,000 | $190,000 | $400,000 |
| Application Denied By Financial Institution | 3 | $1,515,000 | $505,000 | $1,105,000 | $125,000 | $240,000 |
| Application Withdrawn By Applicant | 2 | $850,000 | $425,000 | $445,000 | $136,000 | $140,000 |
| File Closed For Incompleteness | 2 | $1,430,000 | $715,000 | $725,000 | $295,000 | $370,000 |
| Application Approved But Not Accepted | 2 | $720,000 | $360,000 | $445,000 | $296,000 | $320,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 31 | $13,505,000 | $435,000 | $1,105,000 | $194,000 | $400,000 |
| 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 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Wakefield Co-Operative Bank's 2024 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 Wakefield Co-Operative 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.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About