Somerset County, ME Mortgage Lenders & HMDA Data, 2009
In 2009, lenders reported 2,328 mortgage applications in Somerset County, ME totaling $243.2 million, down 7% from 2008. The average application was for $104,000, and applicants reported an average income of $55,000. 49% of applications resulted in an originated loan and 23% were denied. The most active lender was Skowhegan Savings Bank, with 344 applications, followed by Bangor Savings Bank and Bank of America, N.A..
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| Years | 2025 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 | 2,328 |
| Total Mortgage Loan Application Amount | $243,203,000 |
| Average Mortgage Loan Application Amount | $104,000 |
| Highest Mortgage Loan Application Amount | $630,000 |
| Average Applicant Income | $55,000 |
| Highest Applicant Income | $632,000 |
Top Mortgage Lenders in Somerset County, ME (2009)
Ranked by the number of mortgage applications each lender reported in Somerset County, ME in 2009.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Skowhegan Savings Bank Skowhegan, ME |
344 | $31,603,000 | $91,000 | $67,000 |
| 2 | Bangor Savings Bank Bangor, ME |
212 | $18,625,000 | $87,000 | $56,000 |
| 3 | Bank of America, N.A. Calabasas, CA |
162 | $20,689,000 | $127,000 | $58,000 |
| 4 | The Camden National Bank Camden, ME |
136 | $9,613,000 | $70,000 | $47,000 |
| 5 | TD Bank N.A. Falmouth, ME |
102 | $7,998,000 | $78,000 | $57,000 |
| 6 | JPMorgan Chase Bank, NA Columbus, OH |
96 | $11,202,000 | $116,000 | $33,000 |
| 7 | Wells Fargo Bank, NA Des Moines, IA |
92 | $10,738,000 | $116,000 | $50,000 |
| 8 | Embrace Home Loans, Inc. Middletown, RI |
91 | $9,764,000 | $107,000 | $40,000 |
| 9 | Sebasticook Valley FCU Pittsfield, ME |
73 | $4,246,000 | $58,000 | $63,000 |
| 10 | Residential Mortgage Services, Inc. South Portland, ME |
66 | $7,778,000 | $117,000 | $32,000 |
The tables below break down 2009 mortgage applications in Somerset County, ME by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Somerset County, ME 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 | 1,539 | $176,338,000 | $114,000 | $462,000 | $57,000 | $632,000 |
| Home Purchase | 547 | $56,349,000 | $103,000 | $630,000 | $53,000 | $352,000 |
| Home Improvement | 242 | $10,516,000 | $43,000 | $350,000 | $48,000 | $493,000 |
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 | 1,976 | $201,546,000 | $101,000 | $462,000 | $57,000 | $632,000 |
| Not Provided | 165 | $19,365,000 | $117,000 | $350,000 | $58,000 | $267,000 |
| Not applicable | 147 | $17,815,000 | $121,000 | $630,000 | $29,000 | $240,000 |
| Hispanic | 20 | $1,908,000 | $95,000 | $162,000 | $46,000 | $137,000 |
| American Indian or Alaskan Native | 6 | $647,000 | $107,000 | $212,000 | $41,000 | $71,000 |
| Black or African American | 6 | $788,000 | $131,000 | $255,000 | $79,000 | $143,000 |
| Asian | 4 | $568,000 | $142,000 | $212,000 | $78,000 | $116,000 |
| Native Hawaiian or Other Pacific Islander | 4 | $566,000 | $141,000 | $220,000 | $33,000 | $87,000 |
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) | 1,667 | $163,935,000 | $98,000 | $630,000 | $63,000 | $632,000 |
| FHA-insured (Federal Housing Administration) | 431 | $53,584,000 | $124,000 | $341,000 | $39,000 | $180,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 149 | $14,374,000 | $96,000 | $180,000 | $28,000 | $71,000 |
| VA-guaranteed (Veterans Administration) | 81 | $11,310,000 | $139,000 | $320,000 | $34,000 | $105,000 |
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 | 1,149 | $114,495,000 | $99,000 | $630,000 | $62,000 | $632,000 |
| Application Denied By Financial Institution | 535 | $53,690,000 | $100,000 | $462,000 | $52,000 | $602,000 |
| Loan Purchased By The Institution | 319 | $38,696,000 | $121,000 | $380,000 | $33,000 | $240,000 |
| Application Withdrawn By Applicant | 199 | $22,943,000 | $115,000 | $406,000 | $60,000 | $245,000 |
| Application Approved But Not Accepted | 92 | $8,928,000 | $97,000 | $273,000 | $56,000 | $250,000 |
| File Closed For Incompleteness | 34 | $4,451,000 | $130,000 | $260,000 | $47,000 | $144,000 |
| 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 | 107 | $13,237,000 | $123,000 | $375,000 | $65,000 | $251,000 |
| Debt-To-Income Ratio | 96 | $10,085,000 | $105,000 | $377,000 | $40,000 | $147,000 |
| Credit History | 87 | $5,633,000 | $64,000 | $462,000 | $46,000 | $264,000 |
| Other | 23 | $1,852,000 | $80,000 | $228,000 | $57,000 | $185,000 |
| Credit Application Incomplete | 15 | $1,789,000 | $119,000 | $204,000 | $57,000 | $135,000 |
| Unverifiable Information | 9 | $1,047,000 | $116,000 | $268,000 | $38,000 | $103,000 |
| Employment History | 6 | $336,000 | $56,000 | $100,000 | $35,000 | $81,000 |
| Mortgage Insurance Denied | 2 | $240,000 | $120,000 | $145,000 | $39,000 | $47,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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