Cumberland Bank Mortgage Lending & HMDA Data, 2005
In 2005, Cumberland Bank of Franklin, TN reported 1,112 mortgage applications totaling $171.0 million, up 367% from 2004. The average application was for $153,816, and applicants reported an average income of $70,951. 80% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Nashville-Davidson--Murfreesboro, TN (831), Florence-Muscle Shoals, AL (117) and Clarksville, TN-KY (6) (applications in parentheses).
| Mortgage Company & Address | Cumberland Bank 231 South Royal Oaks Boulevard Franklin, TN 37064 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,112 |
| Total Mortgage Loan Application Amount | $171,044,000 |
| Average Mortgage Loan Application Amount | $153,816 |
| Highest Mortgage Loan Application Amount | $2,400,000 |
| Average Applicant Income | $70,951 |
| Highest Applicant Income | $1,236,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cumberland Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Davidson, Tennessee | 253 | $ 42,091,000 | $ 166,367 | $ 74,000 |
| Williamson, Tennessee | 227 | $ 55,633,000 | $ 245,079 | $ 93,000 |
| Sumner, Tennessee | 128 | $ 14,020,000 | $ 109,531 | $ 52,000 |
| Colbert, Alabama | 63 | $ 8,208,000 | $ 130,285 | $ 59,000 |
| Smith, Tennessee | 62 | $ 3,581,000 | $ 57,758 | $ 46,000 |
| Lauderdale, Alabama | 54 | $ 6,804,000 | $ 126,000 | $ 61,000 |
| Macon, Tennessee | 49 | $ 4,064,000 | $ 82,938 | $ 48,000 |
| Cheatham, Tennessee | 32 | $ 4,591,000 | $ 143,468 | $ 69,000 |
| Maury, Tennessee | 27 | $ 3,643,000 | $ 134,925 | $ 46,000 |
| Rutherford, Tennessee | 27 | $ 3,396,000 | $ 125,777 | $ 67,000 |
| Calloway, Kentucky | 25 | $ 3,569,000 | $ 142,760 | $ 73,000 |
| Robertson, Tennessee | 19 | $ 2,063,000 | $ 108,578 | $ 44,000 |
| Phillips, Arkansas | 18 | $ 1,619,000 | $ 89,944 | $ 52,000 |
| Wilson, Tennessee | 18 | $ 4,124,000 | $ 229,111 | $ 64,000 |
| Franklin, Alabama | 10 | $ 1,267,000 | $ 126,700 | $ 53,000 |
| Trousdale, Tennessee | 8 | $ 450,000 | $ 56,250 | $ 50,000 |
| Hempstead, Arkansas | 6 | $ 709,000 | $ 118,166 | $ 51,000 |
| Coffee, Tennessee | 6 | $ 594,000 | $ 99,000 | $ 56,000 |
| Montgomery, Tennessee | 6 | $ 604,000 | $ 100,666 | $ 34,000 |
| DeKalb, Tennessee | 5 | $ 290,000 | $ 58,000 | $ 289,000 |
| Marshall, Tennessee | 5 | $ 498,000 | $ 99,600 | $ 47,000 |
| Warren, Tennessee | 5 | $ 301,000 | $ 60,200 | $ 26,000 |
| Bedford, Tennessee | 4 | $ 476,000 | $ 119,000 | $ 63,000 |
| Dickson, Tennessee | 4 | $ 478,000 | $ 119,500 | $ 54,000 |
| Hamilton, Tennessee | 4 | $ 333,000 | $ 83,250 | $ 33,000 |
| Hickman, Tennessee | 4 | $ 672,000 | $ 168,000 | $ 119,000 |
| Knox, Tennessee | 4 | $ 790,000 | $ 197,500 | $ 194,000 |
| Moore, Tennessee | 4 | $ 615,000 | $ 153,750 | $ 121,000 |
| Fayette, Alabama | 2 | $ 203,000 | $ 101,500 | $ 47,000 |
| Limestone, Alabama | 2 | $ 253,000 | $ 126,500 | $ 77,000 |
| Madison, Alabama | 2 | $ 529,000 | $ 264,500 | $ 123,000 |
| Sevier, Arkansas | 2 | $ 220,000 | $ 110,000 | $ 54,000 |
| Palm Beach, Florida | 2 | $ 407,000 | $ 203,500 | $ 210,000 |
| Simpson, Kentucky | 2 | $ 151,000 | $ 75,500 | $ 45,000 |
| Franklin, Tennessee | 2 | $ 216,000 | $ 108,000 | $ 73,000 |
| Jackson, Tennessee | 2 | $ 47,000 | $ 23,500 | $ 34,000 |
| Madison, Tennessee | 2 | $ 97,000 | $ 48,500 | $ 71,000 |
| Putnam, Tennessee | 2 | $ 214,000 | $ 107,000 | $ 47,000 |
| Etowah, Alabama | 1 | $ 53,000 | $ 53,000 | $ 42,000 |
| Saline, Arkansas | 1 | $ 200,000 | $ 200,000 | $ 116,000 |
| Logan, Kentucky | 1 | $ 154,000 | $ 154,000 | $ 217,000 |
| Marshall, Kentucky | 1 | $ 89,000 | $ 89,000 | $ 106,000 |
| Warren, Kentucky | 1 | $ 59,000 | $ 59,000 | $ 77,000 |
| Tishomingo, Mississippi | 1 | $ 45,000 | $ 45,000 | $ 79,000 |
| Clay, Tennessee | 1 | $ 130,000 | $ 130,000 | $ 45,000 |
| Cumberland, Tennessee | 1 | $ 217,000 | $ 217,000 | $ 200,000 |
| Hamblen, Tennessee | 1 | $ 340,000 | $ 340,000 | $ 186,000 |
| Henry, Tennessee | 1 | $ 59,000 | $ 59,000 | $ 120,000 |
| Lincoln, Tennessee | 1 | $ 300,000 | $ 300,000 | $ 0 |
| Morgan, Tennessee | 1 | $ 239,000 | $ 239,000 | $ 312,000 |
| Sequatchie, Tennessee | 1 | $ 1,125,000 | $ 1,125,000 | $ 1,236,000 |
| Tipton, Tennessee | 1 | $ 54,000 | $ 54,000 | $ 36,000 |
| White, Tennessee | 1 | $ 160,000 | $ 160,000 | $ 157,000 |
Mortgage Loan Application Detail Totals for Cumberland Bank 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 | 593 | $98,472,000 | $127,333 | $1,850,000 | $108,166 | $1,236,000 |
| Refinancing | 424 | $67,936,000 | $151,400 | $2,400,000 | $78,400 | $854,000 |
| Home Improvement | 95 | $4,636,000 | $53,500 | $424,000 | $58,500 | $450,000 |
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 | 940 | $145,173,000 | $135,500 | $2,400,000 | $110,833 | $1,236,000 |
| Not Provided | 67 | $10,526,000 | $165,500 | $508,000 | $98,500 | $312,000 |
| Not applicable | 52 | $9,965,000 | $191,000 | $1,075,000 | $4,000 | $48,000 |
| Black or African American | 40 | $3,549,000 | $75,000 | $400,000 | $39,333 | $224,000 |
| Hispanic | 11 | $1,586,000 | $154,000 | $320,000 | $56,500 | $169,000 |
| Asian | 2 | $245,000 | $122,000 | $126,000 | $61,000 | $80,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 1,047 | $163,620,000 | $129,000 | $2,400,000 | $94,166 | $1,236,000 |
| FHA-insured (Federal Housing Administration) | 54 | $5,942,000 | $110,000 | $206,000 | $38,000 | $105,000 |
| VA-guaranteed (Veterans Administration) | 7 | $1,050,000 | $122,000 | $260,000 | $63,666 | $86,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 4 | $432,000 | $108,000 | $122,000 | $39,000 | $43,000 |
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 | 890 | $137,262,000 | $131,500 | $1,850,000 | $109,666 | $1,236,000 |
| Application Approved But Not Accepted | 93 | $12,695,000 | $136,750 | $590,000 | $66,250 | $300,000 |
| Application Denied By Financial Institution | 74 | $12,102,000 | $149,800 | $2,400,000 | $75,800 | $240,000 |
| Application Withdrawn By Applicant | 55 | $8,985,000 | $139,666 | $1,400,000 | $54,666 | $257,000 |
| 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 |
|---|---|---|---|---|---|---|
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cumberland Bank'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 Cumberland Bank'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.
For a list of all lenders in Tennessee, download the full spreadsheet
with aggregated HMDA statistics today.
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