Applications / Mortgage Analytics / Lenders / Massachusetts / Salem Five Mortgage Company
Salem, MA · Non-bank subsidiary of a bank · CFPB · 1,342 loans in 2025
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1,342
loans originated, 2025
1,728
applications, 2025
5
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Salem Five Mortgage Company, a bank-owned mortgage lender based in Salem, Massachusetts, makes larger loans than any of its peers and ranked 17 of 664 lenders in the Boston market in 2025.
Its typical loan was $495,000, against $305,000 at similar lenders, the 13 bank-owned non-bank lenders making between half and twice as many loans. Jumbo loans (larger than the conforming limit) made up 11.7% of its lending, against 2.5% for peers, a higher share than at about nine in ten of them. Home purchases made up 85.8% of its loans.
Conventional loans made up 92.6% of its lending, against 79.4% at peers; loans insured by the Federal Housing Administration (FHA) were 6.1%, against 15.4%. None of its loans was higher-priced (a rate well above the average for similar loans). Its typical rate, 6.25%, was lower than at more than nine in ten peers.
It placed 22.6% of its loans in low- and moderate-income (LMI) neighborhoods, a higher share than at about nine in ten peers. Its share to LMI borrowers, 25.3%, was below the peers' 29.9%. Its larger loans may mean more of its borrowers earn higher incomes.
Boston-Cambridge-Newton is its largest market, where it ranked 17 of 664 lenders behind Citizens Bank, Leader Bank and Guaranteed Rate. It has lent there since 1992. Its loans fell 4% in 2025, to 1,342, while the typical peer's count barely moved and the whole market grew 10%. That is far below the 6,135 it made in 2020.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Salem Five Mortgage Company took 1,728 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 85.8% · Refinance 13.0% · Home improvement 0.7% · Other 0.5%
Conventional 92.6% · FHA 6.1% · VA 1.3% · of 1,342 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Massachusetts | 1,194 | 89.0% |
| New Hampshire | 105 | 7.8% |
| Maine | 20 | 1.5% |
| Rhode Island | 17 | 1.3% |
| Florida | 6 | 0.4% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Cambridge-Newton-Framingham | 767 |
| Boston | 268 |
| Worcester | 98 |
| Rockingham County-Strafford County | 49 |
| Providence-Warwick | 48 |
| Manchester-Nashua | 32 |
| Barnstable Town | 20 |
| Portland-South Portland | 17 |
| Pittsfield | 3 |
| Springfield | 3 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300H8H31LPYGJEW50 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3437821 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 342876549 |
Established 29 November 2001. Reported under HMDA 1992-2025.
Mergers, name changes, data editions and corrections: Salem Five Mortgage Company's data.
Salem Five Mortgage Company's data
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