| $3,446,236,491 in Mortgage Loans Applied for in 2008 from 17,391,570 Applications |
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FARMERS & MERCHANTS SAV BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
FARMERS & MERCHANTS SAV BANK |
| Address | 101 E MAIN STREET, PO BOX 558
MANCHESTER, IA 52057 |
| Agency | Federal Reserve System (FRS) |
| Year | 2008 |
| Data Years (click a year for detail) | 2003 2004 2005 2006 2007 2008 |
| Total Number of Mortgage Loan Applications Processed | 284 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $32,634,000 |
| Average Mortgage Loan Amount Applied For | $117,318 |
| Highest Mortgage Loan Amount Applied For | $710,000 |
| Average Applicant Income | $74,818 |
| Highest Applicant Income | $749,000 |
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| Home Improvement |
19 | $480,000 |
$25,000 | $100,000 |
$77,000 | $275,000 |
| Home Purchase |
110 | $11,606,000 |
$105,000 | $340,000 |
$76,000 | $749,000 |
| Refinancing |
166 | $21,170,000 |
$127,000 | $710,000 |
$96,000 | $680,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
3 | $25,000 |
$8,000 | $23,000 |
$33,000 | $40,000 |
| Black or African American |
1 | $60,000 |
$60,000 | $60,000 |
$0 | $0 |
| Hispanic |
1 | $117,000 |
$117,000 | $117,000 |
$100,000 | $100,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
5 | $401,000 |
$80,000 | $168,000 |
$0 | $0 |
| Not Provided |
1 | $120,000 |
$120,000 | $120,000 |
$49,000 | $49,000 |
| White |
284 | $32,533,000 |
$114,000 | $710,000 |
$90,000 | $749,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
283 | $31,401,000 |
$110,000 | $710,000 |
$88,000 | $749,000 |
| FHA-insured (Federal Housing Administration) |
11 | $1,659,000 |
$150,000 | $275,000 |
$70,000 | $121,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
1 | $196,000 |
$196,000 | $196,000 |
$84,000 | $84,000 |
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| Application Approved But Not Accepted |
8 | $312,000 |
$39,000 | $122,000 |
$108,000 | $142,000 |
| Application Denied By Financial Institution |
18 | $2,085,000 |
$115,000 | $375,000 |
$56,000 | $115,000 |
| Application Withdrawn By Applicant |
22 | $2,222,000 |
$101,000 | $351,000 |
$101,000 | $196,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
236 | $28,015,000 |
$118,000 | $710,000 |
$90,000 | $749,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
11 | $622,000 |
$56,000 | $145,000 |
$50,000 | $81,000 |
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| Collateral |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Debt-To-Income Ratio |
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 |
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Mortgage Loan Application Totals for FARMERS & MERCHANTS SAV BANK by:
Metropolitan Area And
County
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