The Cooperative Bank Mortgage Rates, Fees & Info
Boston, MALEI: 5493007OJ7D42T6RE854
Tax ID: 04-1789020
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The Cooperative Bank is a smaller bank specializing in Home Purchase loans. The Cooperative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Worcester, Providence, and Pittsfield among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)The Cooperative Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
197Origination Dollar Volume (All Markets)
$136,285,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 189 | $131,415,000 | $695,317 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $2,545,000 | $848,333 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 3 | $1,475,000 | $491,667 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against The Cooperative Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 197 | $136,285,000 | $691,802 | $0 | 0.00% |
For 2022, The Cooperative Bank's most frequently originated type of loan was Conventional, with 197 originations.
Loan Reason
For 2022, The Cooperative Bank's most frequently cited loan purpose was Home Purchase, with 126 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 197 | $136,285,000 | $691,802 | $0 | 0.00% |
For 2022, The Cooperative Bank's most frequently cited loan duration was Other, with 197 originations.
Loan Sizing
2022 saw The Cooperative Bank place emphasis on $400k-600k loans with 56 originations, totaling $28,410,000 in origination value.
Applicant Income
The Cooperative Bank lent most frequently to those with incomes in the $150k-250k range, with 45 originations. The second most popular income band? $100k-150k, with 33 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 197 | $136,285,000 | $691,802 | $0 | 0.00% |
The Cooperative Bank lent most frequently to those with DTI ratios of Exempt%, with 197 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.14%
The Cooperative Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination87.31%
The Cooperative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 197 | $136,285,000 | $691,802 |