Mansfield Co-operative Bank Mortgage Rates, Fees & Info

Mansfield, MA

LEI: 549300GQIEUOHONU7I52

Tax ID: 04-1578690

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Mansfield Co-operative Bank is a smaller bank specializing in Refi and Cash Out Refi loans. Mansfield Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Providence, Boston, Barnstable Town, and Worcester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mansfield Co-operative 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

197

Origination Dollar Volume (All Markets)

$80,675,000

Top 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
PROVIDENCE-WARWICK, RI-MA (FHA\|USDA\|VA)	114	$39,040,000	$342,456	$0	0.00%
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	67	$36,805,000	$549,328	$0	0.00%
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	10	$3,050,000	$305,000	$0	0.00%
WORCESTER, MA-CT (FHA\|USDA\|VA)	6	$1,780,000	$296,667	$0	0.00%

Mansfield Co-operative Bank's top markets include Providence, Boston, Barnstable Town, and Worcester among others.

Their top states include:

Massachusetts (FHA|USDA|VA)

Rhode Island (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	197	$80,675,000	$409,518	$0	0.00%

For 2020, Mansfield Co-operative Bank's most frequently originated type of loan was Conventional, with 197 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	102	$47,030,000	$461,078	$0	0.00%
Cash Out Refi	73	$23,855,000	$326,781	$0	0.00%
Home Purchase	22	$9,790,000	$445,000	$0	0.00%

For 2020, Mansfield Co-operative Bank's most frequently cited loan purpose was Refi, with 102 originations. The 2nd most popular reason was Cash Out Refi, with 73 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	197	$80,675,000	$409,518	$0	0.00%

For 2020, Mansfield Co-operative Bank's most frequently cited loan duration was Other, with 197 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	109	$31,995,000	$293,532	$0	0.00%
$400k-600k	47	$22,315,000	$474,787	$0	0.00%
$100k-200k	24	$3,610,000	$150,417	$0	0.00%
$1MM+	8	$18,680,000	$2,335,000	$0	0.00%
$600k-1MM	5	$3,725,000	$745,000	$0	0.00%
$100,000 or less	4	$350,000	$87,500	$0	0.00%

2020 saw Mansfield Co-operative Bank place emphasis on $200k-400k loans with 109 originations, totaling $31,995,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	66	$22,840,000	$346,061	$0	0.00%
$100k-150k	47	$15,295,000	$325,426	$0	0.00%
$75k-100k	27	$6,825,000	$252,778	$0	0.00%
$250k+	24	$11,990,000	$499,583	$0	0.00%
$50k-75k	16	$3,400,000	$212,500	$0	0.00%
$50k or less	4	$450,000	$112,500	$0	0.00%

Mansfield Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 66 originations. The second most popular income band? $100k-150k, with 47 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	197	$80,675,000	$409,518	$0	0.00%

Mansfield Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 197 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	168	$53,840,000	$320,476	$0	0.00%
Not applicable	12	$18,920,000	$1,576,667	$0	0.00%
Not provided	4	$2,780,000	$695,000	$0	0.00%
Asian Indian	6	$2,170,000	$361,667	$0	0.00%
Asian	5	$1,975,000	$395,000	$0	0.00%
Black	2	$990,000	$495,000	$0	0.00%

Approval Rates

Total approvals of all applications
98.25%

Mansfield Co-operative 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 origination
87.31%

Mansfield Co-operative Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	197	$80,675,000	$409,518

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	1	$7,705,000	$7,705,000
Multifamily:Site-Built	4	$6,580,000	$1,645,000
Single Family (1-4 Units):Site-Built	192	$66,390,000	$345,781

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Mansfield Co-Operative Bank	225 West Main Street Norton, MA 2766	Full Service B&M	$81,187
Mansfield Co-Operative Bank	3 Taunton Street Plainville, MA 2762	Full Service B&M	$74,458
Mansfield Co-Operative Bank	728 West Center Street West Bridgewater, MA 2379	Full Service B&M	$72,001
Mansfield Co-Operative Bank	80 North Main Street Mansfield, MA 2048	Full Service B&M	$273,782

For 2020, Mansfield Co-operative Bank had 4 branches.