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| $6,295,214,383,000 in Mortgage Loans Applied for in 2006 from 34,105,441 Applications |
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SOUTHERN MICHIGAN BANK & TRUST
Mortgage Loans and Application Details
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| Mortgage Company Name |
SOUTHERN MICHIGAN BANK & TRUST |
| Address | 51 WEST PEARL STREET
COLDWATER, MI 49036 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 46 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $3,824,000 |
| Average Mortgage Loan Amount Applied For | $74,000 |
| Highest Mortgage Loan Amount Applied For | $529,000 |
| Average Applicant Income | $33,500 |
| Highest Applicant Income | $232,000 |
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| Home Improvement |
19 | $890,000 |
$46,000 | $443,000 |
$50,000 | $203,000 |
| Home Purchase |
12 | $1,355,000 |
$112,000 | $500,000 |
$38,000 | $106,000 |
| Refinancing |
15 | $1,579,000 |
$105,000 | $529,000 |
$43,000 | $232,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Hispanic |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
8 | $1,131,000 |
$141,000 | $529,000 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
38 | $2,693,000 |
$70,000 | $500,000 |
$54,000 | $232,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
46 | $3,824,000 |
$83,000 | $529,000 |
$45,000 | $232,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
5 | $25,000 |
$5,000 | $10,000 |
$27,000 | $40,000 |
| Application Withdrawn By Applicant |
0 | $0 |
$0 | $0 |
$0 | $0 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
41 | $3,799,000 |
$92,000 | $529,000 |
$47,000 | $232,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
2 | $7,000 |
$3,000 | $4,000 |
$35,000 | $40,000 |
| Debt-To-Income Ratio |
2 | $8,000 |
$4,000 | $5,000 |
$24,000 | $35,000 |
| 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 App Totals for SOUTHERN MICHIGAN BANK & TRUST by:
Metropolitan Area And
County
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