American Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, American Bank & Trust of Lake Wales, FL reported 164 mortgage applications totaling $16.2 million. The average application was for $98,548, and applicants reported an average income of $63,396. 68% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Lakeland-Winter Haven, FL (157), Fort Myers-Cape Coral, FL (1) and Orlando, FL (1) (applications in parentheses).
| Mortgage Company & Address | American Bank & Trust 222 State Road 60 East Lake Wales, FL 33853 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 164 |
| Total Mortgage Loan Application Amount | $16,162,000 |
| Average Mortgage Loan Application Amount | $98,548 |
| Highest Mortgage Loan Application Amount | $749,000 |
| Average Applicant Income | $63,396 |
| Highest Applicant Income | $408,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records American Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
Mortgage Loan Application Detail Totals for American Bank & Trust in 2003
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase (one-to-four family) | 114 | $11,130,000 | $97,000 | $749,000 | $71,000 | $408,000 |
| Refinancing (home purchase or home improvement, one-to-four family) | 47 | $4,400,000 | $93,000 | $222,000 | $49,000 | $201,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 3 | $632,000 | $210,000 | $220,000 | $0 | $0 |
| Home Improvement (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 131 | $11,751,000 | $89,000 | $356,000 | $48,000 | $408,000 |
| Information not provided by applicant in mail or telephone application | 12 | $1,551,000 | $129,000 | $268,000 | $72,000 | $273,000 |
| Hispanic | 7 | $710,000 | $101,000 | $220,000 | $29,000 | $56,000 |
| Black | 5 | $466,000 | $93,000 | $200,000 | $61,000 | $100,000 |
| Not applicable | 3 | $192,000 | $64,000 | $86,000 | $123,000 | $190,000 |
| Other | 3 | $1,032,000 | $344,000 | $749,000 | $117,000 | $208,000 |
| American Indian or Alaskan Native | 2 | $280,000 | $140,000 | $209,000 | $59,000 | $84,000 |
| Asian or Pacific Islander | 1 | $180,000 | $180,000 | $180,000 | $67,000 | $67,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 164 | $16,162,000 | $98,000 | $749,000 | $60,000 | $408,000 |
| 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 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 111 | $11,723,000 | $105,000 | $749,000 | $91,000 | $408,000 |
| Application Denied By Financial Institution | 31 | $2,588,000 | $83,000 | $220,000 | $36,000 | $82,000 |
| Application Approved But Not Accepted | 11 | $960,000 | $87,000 | $192,000 | $42,000 | $136,000 |
| Application Withdrawn By Applicant | 6 | $594,000 | $99,000 | $192,000 | $79,000 | $273,000 |
| File Closed For Incompleteness | 5 | $297,000 | $59,000 | $159,000 | $38,000 | $66,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 21 | $1,950,000 | $92,000 | $220,000 | $38,000 | $82,000 |
| Debt-To-Income Ratio | 4 | $325,000 | $81,000 | $100,000 | $33,000 | $58,000 |
| Collateral | 3 | $139,000 | $46,000 | $59,000 | $26,000 | $34,000 |
| Other | 2 | $74,000 | $37,000 | $54,000 | $24,000 | $37,000 |
| Employment History | 1 | $100,000 | $100,000 | $100,000 | $78,000 | $78,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into American Bank & Trust's 2003 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess American Bank & Trust's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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