Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2006
In 2006, Farmers & Merchants Bank of Monticello, FL reported 109 mortgage applications totaling $8.0 million, down 26% from 2005. The average application was for $73,073, and applicants reported an average income of $56,302. 95% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Tallahassee, FL (53) and Panama City-Lynn Haven, FL (1).
| 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 | 109 |
| Total Mortgage Loan Application Amount | $7,965,000 |
| Average Mortgage Loan Application Amount | $73,073 |
| Highest Mortgage Loan Application Amount | $900,000 |
| Average Applicant Income | $56,302 |
| Highest Applicant Income | $594,000 |
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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 53 | $ 3,407,000 | $ 64,283 | $ 56,000 |
| Panama City-Lynn Haven, FL | 1 | $ 103,000 | $ 103,000 | $ 164,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2006
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 | 76 | $5,793,000 | $76,000 | $900,000 | $57,000 | $594,000 |
| Home Purchase | 25 | $1,801,000 | $72,000 | $183,000 | $53,000 | $200,000 |
| Home Improvement | 8 | $371,000 | $46,000 | $103,000 | $60,000 | $164,000 |
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 | 80 | $6,363,000 | $79,000 | $900,000 | $69,000 | $594,000 |
| Not applicable | 16 | $1,153,000 | $72,000 | $139,000 | $0 | $0 |
| Black or African American | 10 | $333,000 | $33,000 | $94,000 | $43,000 | $110,000 |
| American Indian or Alaskan Native | 2 | $103,000 | $51,000 | $52,000 | $65,000 | $84,000 |
| Hispanic | 1 | $13,000 | $13,000 | $13,000 | $60,000 | $60,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 109 | $7,965,000 | $73,000 | $900,000 | $56,000 | $594,000 |
| 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 | 104 | $7,642,000 | $73,000 | $900,000 | $57,000 | $594,000 |
| Application Denied By Financial Institution | 5 | $323,000 | $64,000 | $130,000 | $37,000 | $83,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 2006 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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