Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2016
In 2016, Farmers & Merchants Bank of Monticello, FL reported 123 mortgage applications totaling $16.5 million, down 19% from 2015. The average application was for $134,170, and applicants reported an average income of $86,341. 76% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Tallahassee, FL (40), Panama City, FL (2) and Valdosta, GA (2) (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 | 123 |
| Total Mortgage Loan Application Amount | $16,503,000 |
| Average Mortgage Loan Application Amount | $134,170 |
| Highest Mortgage Loan Application Amount | $800,000 |
| Average Applicant Income | $86,341 |
| Highest Applicant Income | $459,000 |
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(HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 40 | $ 6,233,000 | $ 155,825 | $ 88,000 |
| Panama City, FL | 2 | $ 119,000 | $ 59,500 | $ 91,000 |
| Valdosta, GA | 2 | $ 166,000 | $ 83,000 | $ 69,000 |
| Asheville, NC | 1 | $ 134,000 | $ 134,000 | $ 217,000 |
| Crestview-Fort Walton Beach-Destin, FL | 1 | $ 400,000 | $ 400,000 | $ 159,000 |
| Jacksonville, FL | 1 | $ 113,000 | $ 113,000 | $ 0 |
| Naples-Immokalee-Marco Island, FL | 1 | $ 330,000 | $ 330,000 | $ 352,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2016
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 | 62 | $7,872,000 | $126,000 | $485,000 | $86,000 | $400,000 |
| Home Purchase | 51 | $8,119,000 | $159,000 | $800,000 | $88,000 | $459,000 |
| Home Improvement | 10 | $512,000 | $51,000 | $140,000 | $80,000 | $142,000 |
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 | 86 | $11,119,000 | $129,000 | $650,000 | $100,000 | $459,000 |
| Not applicable | 23 | $3,588,000 | $156,000 | $800,000 | $0 | $0 |
| Black or African American | 12 | $1,248,000 | $104,000 | $340,000 | $127,000 | $415,000 |
| Hispanic | 1 | $198,000 | $198,000 | $198,000 | $54,000 | $54,000 |
| Not Provided | 1 | $350,000 | $350,000 | $350,000 | $450,000 | $450,000 |
| Native Hawaiin 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 |
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) | 122 | $16,302,000 | $133,000 | $800,000 | $86,000 | $459,000 |
| FHA-insured (Federal Housing Administration) | 1 | $201,000 | $201,000 | $201,000 | $85,000 | $85,000 |
| 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 | 94 | $11,246,000 | $119,000 | $800,000 | $81,000 | $459,000 |
| Application Denied By Financial Institution | 15 | $1,948,000 | $129,000 | $201,000 | $72,000 | $243,000 |
| Application Withdrawn By Applicant | 7 | $1,529,000 | $218,000 | $500,000 | $120,000 | $352,000 |
| File Closed For Incompleteness | 5 | $1,050,000 | $210,000 | $350,000 | $162,000 | $450,000 |
| Application Approved But Not Accepted | 2 | $730,000 | $365,000 | $650,000 | $129,000 | $203,000 |
| 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 2016 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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with aggregated HMDA statistics today.
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