Walpole Co-Operative Bank Mortgage Lending & HMDA Data, 2008
In 2008, Walpole Co-Operative Bank of Walpole, MA reported 87 mortgage applications totaling $22.8 million, up 24% from 2007. The average application was for $261,908, and applicants reported an average income of $115,632. 57% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Boston-Quincy, MA (57), Providence-New Bedford-Fall River, RI-MA (8) and Barnstable Town, MA (5) (applications in parentheses).
| Mortgage Company & Address | Walpole Co-Operative Bank 982 Main Street Walpole, MA 02081 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 87 |
| Total Mortgage Loan Application Amount | $22,786,000 |
| Average Mortgage Loan Application Amount | $261,908 |
| Highest Mortgage Loan Application Amount | $800,000 |
| Average Applicant Income | $115,632 |
| Highest Applicant Income | $840,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Walpole Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Norfolk, Massachusetts | 54 | $ 14,298,000 | $ 264,777 | $ 109,000 |
| Bristol, Massachusetts | 8 | $ 1,851,000 | $ 231,375 | $ 139,000 |
| Barnstable, Massachusetts | 5 | $ 1,672,000 | $ 334,400 | $ 179,000 |
| Middlesex, Massachusetts | 2 | $ 366,000 | $ 183,000 | $ 190,000 |
| Plymouth, Massachusetts | 2 | $ 955,000 | $ 477,500 | $ 308,000 |
| Suffolk, Massachusetts | 2 | $ 524,000 | $ 262,000 | $ 39,000 |
Mortgage Loan Application Detail Totals for Walpole Co-Operative Bank 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 | 49 | $11,711,000 | $239,000 | $700,000 | $114,000 | $840,000 |
| Home Purchase | 32 | $8,889,000 | $277,000 | $800,000 | $113,000 | $724,000 |
| Home Improvement | 6 | $2,186,000 | $364,000 | $650,000 | $143,000 | $254,000 |
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 | 65 | $16,186,000 | $249,000 | $800,000 | $124,000 | $840,000 |
| Not applicable | 16 | $4,600,000 | $287,000 | $650,000 | $51,000 | $242,000 |
| Not Provided | 5 | $1,682,000 | $336,000 | $500,000 | $217,000 | $724,000 |
| Black or African American | 1 | $318,000 | $318,000 | $318,000 | $100,000 | $100,000 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 87 | $22,786,000 | $261,000 | $800,000 | $115,000 | $840,000 |
| 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 | 50 | $13,391,000 | $267,000 | $800,000 | $134,000 | $840,000 |
| Preapproval Approved but not Accepted | 12 | $2,696,000 | $224,000 | $400,000 | $77,000 | $196,000 |
| Application Withdrawn By Applicant | 10 | $2,089,000 | $208,000 | $400,000 | $108,000 | $242,000 |
| Application Approved But Not Accepted | 8 | $1,717,000 | $214,000 | $318,000 | $78,000 | $183,000 |
| Application Denied By Financial Institution | 5 | $2,003,000 | $400,000 | $700,000 | $103,000 | $172,000 |
| File Closed For Incompleteness | 2 | $890,000 | $445,000 | $500,000 | $95,000 | $117,000 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 | 3 | $1,517,000 | $505,000 | $700,000 | $109,000 | $172,000 |
| Credit History | 2 | $486,000 | $243,000 | $253,000 | $93,000 | $111,000 |
| Collateral | 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Walpole Co-Operative Bank'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 Walpole 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.
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