Bankfirst Mortgage Lending & HMDA Data, 2005
In 2005, Bankfirst of Sioux Falls, SD reported 886 mortgage applications totaling $193.7 million, up 1541% from 2004. The average application was for $218,652, and applicants reported an average income of $113,558. 59% of its applications resulted in an originated loan and 30% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (313), Las Vegas-Paradise, NV (143) and Atlanta-Sandy Springs-Marietta, GA (42) (applications in parentheses).
| Mortgage Company & Address | Bankfirst 6100 South Old Village Place Sioux Falls, SD 57108 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 886 |
| Total Mortgage Loan Application Amount | $193,726,000 |
| Average Mortgage Loan Application Amount | $218,652 |
| Highest Mortgage Loan Application Amount | $3,325,000 |
| Average Applicant Income | $113,558 |
| Highest Applicant Income | $1,811,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bankfirst filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | 313 | $ 62,552,000 | $ 199,846 | $ 88,000 |
| Las Vegas-Paradise, NV | 143 | $ 30,682,000 | $ 214,559 | $ 126,000 |
| Atlanta-Sandy Springs-Marietta, GA | 42 | $ 9,076,000 | $ 216,095 | $ 91,000 |
| Phoenix-Mesa-Scottsdale, AZ | 31 | $ 10,804,000 | $ 348,516 | $ 91,000 |
| Denver-Aurora, CO | 26 | $ 7,560,000 | $ 290,769 | $ 100,000 |
| Tampa-St. Petersburg-Clearwater, FL | 21 | $ 2,410,000 | $ 114,761 | $ 59,000 |
| Chicago-Naperville-Joliet, IL | 19 | $ 3,736,000 | $ 196,631 | $ 69,000 |
| Duluth, MN-WI | 10 | $ 1,213,000 | $ 121,300 | $ 65,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 8 | $ 1,224,000 | $ 153,000 | $ 112,000 |
| Gary, IN | 7 | $ 968,000 | $ 138,285 | $ 70,000 |
| Sioux Falls, SD | 7 | $ 865,000 | $ 123,571 | $ 77,000 |
| Birmingham-Hoover, AL | 6 | $ 1,033,000 | $ 172,166 | $ 127,000 |
| Madison, WI | 6 | $ 656,000 | $ 109,333 | $ 59,000 |
| Orlando, FL | 6 | $ 806,000 | $ 134,333 | $ 67,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 6 | $ 2,021,000 | $ 336,833 | $ 283,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 5 | $ 2,915,000 | $ 583,000 | $ 773,000 |
| Lake County-Kenosha County, IL-WI | 5 | $ 1,944,000 | $ 388,800 | $ 201,000 |
| St. Cloud, MN | 5 | $ 566,000 | $ 113,200 | $ 84,000 |
| Wilmington, NC | 5 | $ 4,450,000 | $ 890,000 | $ 456,000 |
| Anchorage, AK | 4 | $ 450,000 | $ 112,500 | $ 52,000 |
| Fort Collins-Loveland, CO | 4 | $ 808,000 | $ 202,000 | $ 116,000 |
| Jacksonville, FL | 4 | $ 1,820,000 | $ 455,000 | $ 434,000 |
| Los Angeles-Long Beach-Glendale, CA | 4 | $ 4,766,000 | $ 1,191,500 | $ 661,000 |
| Nashville-Davidson--Murfreesboro, TN | 4 | $ 666,000 | $ 166,500 | $ 58,000 |
| Pensacola-Ferry Pass-Brent, FL | 4 | $ 230,000 | $ 57,500 | $ 65,000 |
| Sarasota-Bradenton-Venice, FL | 4 | $ 3,158,000 | $ 789,500 | $ 522,000 |
| Colorado Springs, CO | 3 | $ 362,000 | $ 120,666 | $ 54,000 |
| Eau Claire, WI | 3 | $ 261,000 | $ 87,000 | $ 49,000 |
| Palm Bay-Melbourne-Titusville, FL | 3 | $ 241,000 | $ 80,333 | $ 123,000 |
| Pueblo, CO | 3 | $ 210,000 | $ 70,000 | $ 53,000 |
| Rochester, MN | 3 | $ 302,000 | $ 100,666 | $ 61,000 |
| Seattle-Bellevue-Everett, WA | 3 | $ 594,000 | $ 198,000 | $ 181,000 |
| Albuquerque, NM | 2 | $ 140,000 | $ 70,000 | $ 108,000 |
| Battle Creek, MI | 2 | $ 46,000 | $ 23,000 | $ 120,000 |
| Boise City-Nampa, ID | 2 | $ 248,000 | $ 124,000 | $ 25,000 |
| Cape Coral-Fort Myers, FL | 2 | $ 1,785,000 | $ 892,500 | $ 0 |
| Columbus, GA-AL | 2 | $ 88,000 | $ 44,000 | $ 77,000 |
| Des Moines, IA | 2 | $ 90,000 | $ 45,000 | $ 60,000 |
| Fond Du Lac, WI | 2 | $ 214,000 | $ 107,000 | $ 65,000 |
| Grand Junction, CO | 2 | $ 141,000 | $ 70,500 | $ 46,000 |
| Greeley, CO | 2 | $ 527,000 | $ 263,500 | $ 137,000 |
| Greensboro-High Point, NC | 2 | $ 97,000 | $ 48,500 | $ 46,000 |
| Hartford-West Hartford-East Hartford, CT | 2 | $ 184,000 | $ 92,000 | $ 64,000 |
| Kansas City, MO-KS | 2 | $ 116,000 | $ 58,000 | $ 48,000 |
| Monroe, MI | 2 | $ 133,000 | $ 66,500 | $ 51,000 |
| Raleigh-Cary, NC | 2 | $ 140,000 | $ 70,000 | $ 0 |
| South Bend-Mishawaka, IN-MI | 2 | $ 94,000 | $ 47,000 | $ 0 |
| Tucson, AZ | 2 | $ 306,000 | $ 153,000 | $ 35,000 |
| Warren-Farmington Hills-Troy, MI | 2 | $ 163,000 | $ 81,500 | $ 87,000 |
| Winston-Salem, NC | 2 | $ 202,000 | $ 101,000 | $ 250,000 |
| Ann Arbor, MI | 1 | $ 130,000 | $ 130,000 | $ 48,000 |
| Asheville, NC | 1 | $ 208,000 | $ 208,000 | $ 413,000 |
| Boston-Quincy, MA | 1 | $ 1,068,000 | $ 1,068,000 | $ 247,000 |
| Flagstaff, AZ | 1 | $ 394,000 | $ 394,000 | $ 254,000 |
| Lakeland, FL | 1 | $ 144,000 | $ 144,000 | $ 54,000 |
| Michigan City-La Porte, IN | 1 | $ 359,000 | $ 359,000 | $ 111,000 |
| Milwaukee-Waukesha-West Allis, WI | 1 | $ 390,000 | $ 390,000 | $ 93,000 |
| Ocala, FL | 1 | $ 90,000 | $ 90,000 | $ 0 |
| Oshkosh-Neenah, WI | 1 | $ 104,000 | $ 104,000 | $ 0 |
| Portland-South Portland-Biddeford, ME | 1 | $ 146,000 | $ 146,000 | $ 55,000 |
| Racine, WI | 1 | $ 104,000 | $ 104,000 | $ 28,000 |
| Reno-Sparks, NV | 1 | $ 120,000 | $ 120,000 | $ 35,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 176,000 | $ 176,000 | $ 54,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 1 | $ 274,000 | $ 274,000 | $ 43,000 |
| Saginaw-Saginaw Township North, MI | 1 | $ 126,000 | $ 126,000 | $ 86,000 |
| San Francisco-San Mateo-Redwood City, CA | 1 | $ 475,000 | $ 475,000 | $ 0 |
| Santa Ana-Anaheim-Irvine, CA | 1 | $ 1,140,000 | $ 1,140,000 | $ 384,000 |
| St. Louis, MO-IL | 1 | $ 175,000 | $ 175,000 | $ 0 |
| Tallahassee, FL | 1 | $ 126,000 | $ 126,000 | $ 69,000 |
Mortgage Loan Application Detail Totals for Bankfirst in 2005
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 | 499 | $105,485,000 | $289,320 | $3,325,000 | $166,320 | $1,800,000 |
| Refinancing | 384 | $88,226,000 | $332,260 | $2,765,000 | $82,652 | $1,811,000 |
| Home Improvement | 3 | $15,000 | $5,000 | $10,000 | $7,000 | $31,000 |
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 | 623 | $135,664,000 | $275,857 | $2,765,000 | $110,642 | $1,811,000 |
| Not Provided | 125 | $28,951,000 | $315,066 | $1,860,000 | $102,533 | $804,000 |
| Black or African American | 52 | $12,497,000 | $562,375 | $3,325,000 | $321,875 | $1,800,000 |
| Asian | 47 | $9,509,000 | $211,285 | $576,000 | $82,428 | $354,000 |
| Hispanic | 33 | $5,924,000 | $195,300 | $494,000 | $55,400 | $241,000 |
| Native Hawaiian or Other Pacific Islander | 4 | $766,000 | $191,500 | $320,000 | $50,250 | $112,000 |
| American Indian or Alaskan Native | 2 | $415,000 | $207,000 | $332,000 | $79,000 | $79,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 886 | $193,726,000 | $288,066 | $3,325,000 | $113,800 | $1,811,000 |
| 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 | 525 | $112,085,000 | $262,535 | $2,765,000 | $97,928 | $1,811,000 |
| Application Denied By Financial Institution | 265 | $58,085,000 | $285,133 | $1,860,000 | $136,866 | $1,528,000 |
| Application Approved But Not Accepted | 76 | $19,866,000 | $437,533 | $3,325,000 | $220,933 | $1,800,000 |
| Application Withdrawn By Applicant | 20 | $3,690,000 | $199,875 | $876,000 | $98,375 | $900,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
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 |
|---|---|---|---|---|---|---|
| Unverifiable Information | 75 | $16,581,000 | $232,600 | $576,000 | $136,200 | $571,000 |
| Credit Application Incomplete | 55 | $9,789,000 | $168,800 | $1,000,000 | $106,900 | $450,000 |
| Collateral | 36 | $8,874,000 | $199,300 | $1,860,000 | $181,500 | $1,528,000 |
| Debt-To-Income Ratio | 33 | $6,950,000 | $408,625 | $1,800,000 | $103,750 | $375,000 |
| Other | 28 | $6,147,000 | $379,375 | $1,600,000 | $114,625 | $336,000 |
| Credit History | 24 | $7,580,000 | $351,500 | $1,430,000 | $132,300 | $432,000 |
| Employment History | 8 | $1,128,000 | $127,666 | $314,000 | $93,333 | $134,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 6 | $1,036,000 | $180,666 | $303,000 | $143,000 | $240,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Bankfirst's 2005 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 Bankfirst'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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