Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2005
In 2005, Farmers & Merchants Bank of Monticello, FL reported 147 mortgage applications totaling $10.9 million, down 43% from 2004. The average application was for $74,136, and applicants reported an average income of $57,979. 92% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Tallahassee, FL (82), Valdosta, GA (2) and Panama City-Lynn Haven, FL (1) (applications in parentheses).
| Mortgage Company & Address | Farmers & Merchants Bank 200 E. Washington Street Monticello, FL 32344 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 147 |
| Total Mortgage Loan Application Amount | $10,898,000 |
| Average Mortgage Loan Application Amount | $74,136 |
| Highest Mortgage Loan Application Amount | $1,129,000 |
| Average Applicant Income | $57,979 |
| Highest Applicant Income | $313,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Tallahassee, FL | 82 | $ 7,086,000 | $ 86,414 | $ 61,000 |
| Valdosta, GA | 2 | $ 41,000 | $ 20,500 | $ 15,000 |
| Panama City-Lynn Haven, FL | 1 | $ 242,000 | $ 242,000 | $ 137,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants 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 |
|---|---|---|---|---|---|---|
| Refinancing | 83 | $5,290,000 | $62,500 | $321,000 | $54,500 | $313,000 |
| Home Purchase | 57 | $5,480,000 | $80,500 | $1,129,000 | $51,000 | $207,000 |
| Home Improvement | 7 | $128,000 | $12,500 | $70,000 | $25,500 | $72,000 |
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 | 101 | $6,991,000 | $67,000 | $388,000 | $74,500 | $207,000 |
| Not applicable | 24 | $3,218,000 | $118,000 | $1,129,000 | $0 | $0 |
| Black or African American | 21 | $638,000 | $29,500 | $60,000 | $51,500 | $313,000 |
| Hispanic | 1 | $51,000 | $51,000 | $51,000 | $143,000 | $143,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 147 | $10,898,000 | $69,500 | $1,129,000 | $50,000 | $313,000 |
| 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 | 135 | $10,251,000 | $72,000 | $1,129,000 | $55,000 | $313,000 |
| Application Denied By Financial Institution | 11 | $625,000 | $56,000 | $135,000 | $27,000 | $145,000 |
| Application Approved But Not Accepted | 1 | $22,000 | $22,000 | $22,000 | $52,000 | $52,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 Farmers & Merchants 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 Farmers & Merchants 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.
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