Farmers & Merchants Mortgage Mortgage Lending & HMDA Data, 2004
In 2004, Farmers & Merchants Mortgage of Denton, TX reported 671 mortgage applications totaling $77.9 million, down 14% from 2003. The average application was for $116,107, and applicants reported an average income of $77,052. 94% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Dallas-Plano-Irving, TX (452), Fort Worth-Arlington, TX (65) and Tyler, TX (60) (applications in parentheses).
| Mortgage Company & Address | Farmers & Merchants Mortgage 1517 Centre Place Suite 200 Denton, TX 76205 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 671 |
| Total Mortgage Loan Application Amount | $77,908,000 |
| Average Mortgage Loan Application Amount | $116,107 |
| Highest Mortgage Loan Application Amount | $840,000 |
| Average Applicant Income | $77,052 |
| Highest Applicant Income | $786,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Farmers & Merchants Mortgage filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Denton, Texas | 328 | $ 36,871,000 | $ 112,411 | $ 67,000 |
| Dallas, Texas | 64 | $ 7,288,000 | $ 113,875 | $ 81,000 |
| Smith, Texas | 60 | $ 7,295,000 | $ 121,583 | $ 107,000 |
| Collin, Texas | 52 | $ 5,864,000 | $ 112,769 | $ 80,000 |
| Tarrant, Texas | 51 | $ 6,101,000 | $ 119,627 | $ 75,000 |
| Cooke, Texas | 38 | $ 4,559,000 | $ 119,973 | $ 93,000 |
| Wise, Texas | 11 | $ 1,318,000 | $ 119,818 | $ 59,000 |
| Grayson, Texas | 9 | $ 770,000 | $ 85,555 | $ 45,000 |
| Bernalillo, New Mexico | 8 | $ 882,000 | $ 110,250 | $ 55,000 |
| Cherokee, Texas | 8 | $ 1,397,000 | $ 174,625 | $ 100,000 |
| Henderson, Texas | 5 | $ 455,000 | $ 91,000 | $ 172,000 |
| Rockwall, Texas | 5 | $ 507,000 | $ 101,400 | $ 63,000 |
| Sandoval, New Mexico | 4 | $ 287,000 | $ 71,750 | $ 94,000 |
| Brazos, Texas | 2 | $ 322,000 | $ 161,000 | $ 84,000 |
| Ellis, Texas | 2 | $ 302,000 | $ 151,000 | $ 71,000 |
| Fannin, Texas | 2 | $ 184,000 | $ 92,000 | $ 55,000 |
| Parker, Texas | 2 | $ 281,000 | $ 140,500 | $ 0 |
| Upshur, Texas | 2 | $ 95,000 | $ 47,500 | $ 40,000 |
| Sarasota, Florida | 1 | $ 840,000 | $ 840,000 | $ 425,000 |
| Montgomery, Maryland | 1 | $ 334,000 | $ 334,000 | $ 100,000 |
| St. Louis, Missouri | 1 | $ 182,000 | $ 182,000 | $ 91,000 |
| Cleveland, Oklahoma | 1 | $ 81,000 | $ 81,000 | $ 75,000 |
| Delta, Texas | 1 | $ 65,000 | $ 65,000 | $ 48,000 |
| Fort Bend, Texas | 1 | $ 91,000 | $ 91,000 | $ 35,000 |
| Galveston, Texas | 1 | $ 139,000 | $ 139,000 | $ 107,000 |
| Gregg, Texas | 1 | $ 36,000 | $ 36,000 | $ 3,000 |
| Johnson, Texas | 1 | $ 96,000 | $ 96,000 | $ 33,000 |
| McCulloch, Texas | 1 | $ 60,000 | $ 60,000 | $ 44,000 |
| Mills, Texas | 1 | $ 81,000 | $ 81,000 | $ 96,000 |
| Nacogdoches, Texas | 1 | $ 143,000 | $ 143,000 | $ 117,000 |
| Palo Pinto, Texas | 1 | $ 156,000 | $ 156,000 | $ 132,000 |
| Travis, Texas | 1 | $ 281,000 | $ 281,000 | $ 300,000 |
| Uvalde, Texas | 1 | $ 117,000 | $ 117,000 | $ 70,000 |
| Wichita, Texas | 1 | $ 266,000 | $ 266,000 | $ 0 |
| Wood, Texas | 1 | $ 108,000 | $ 108,000 | $ 32,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Mortgage in 2004
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 | 457 | $46,113,000 | $158,800 | $750,000 | $80,600 | $786,000 |
| Refinancing | 202 | $31,119,000 | $495,000 | $840,000 | $254,000 | $454,000 |
| Home Improvement | 12 | $676,000 | $56,000 | $216,000 | $72,000 | $150,000 |
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 | 468 | $53,763,000 | $295,200 | $840,000 | $143,200 | $786,000 |
| Not Provided | 89 | $13,100,000 | $164,000 | $650,000 | $91,500 | $466,000 |
| Hispanic | 51 | $5,535,000 | $102,000 | $334,000 | $75,000 | $165,000 |
| Not applicable | 23 | $895,000 | $38,000 | $198,000 | $6,000 | $44,000 |
| Black or African American | 22 | $2,165,000 | $98,000 | $175,000 | $56,000 | $160,000 |
| Asian | 14 | $1,926,000 | $137,000 | $750,000 | $100,000 | $312,000 |
| American Indian or Alaskan Native | 4 | $524,000 | $131,500 | $220,000 | $51,500 | $84,000 |
| 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) | 632 | $73,399,000 | $274,500 | $840,000 | $140,666 | $786,000 |
| FHA-insured (Federal Housing Administration) | 33 | $3,862,000 | $113,000 | $169,000 | $37,500 | $105,000 |
| VA-guaranteed (Veterans Administration) | 5 | $634,000 | $126,000 | $210,000 | $61,000 | $112,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $13,000 | $13,000 | $13,000 | $32,000 | $32,000 |
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 | 628 | $73,700,000 | $273,666 | $840,000 | $143,666 | $786,000 |
| Application Withdrawn By Applicant | 35 | $3,624,000 | $111,000 | $320,000 | $63,500 | $312,000 |
| Application Denied By Financial Institution | 8 | $584,000 | $73,000 | $180,000 | $60,000 | $143,000 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Credit History | 1 | $180,000 | $180,000 | $180,000 | $143,000 | $143,000 |
| Employment History | 1 | $128,000 | $128,000 | $128,000 | $34,000 | $34,000 |
| 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 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants Mortgage's 2004 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 Mortgage'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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