Farmers & Merchants State Bank Mortgage Lending & HMDA Data, 2004
In 2004, Farmers & Merchants State Bank of Virden, IL reported 214 mortgage applications totaling $11.9 million. The average application was for $55,593, and applicants reported an average income of $38,957. 81% of its applications resulted in an originated loan and 7% were denied. Its largest market was Springfield, IL (29).
| Mortgage Company & Address | Farmers & Merchants State Bank 201 E Jackson, Po Box 470 Virden, IL 62690 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 214 |
| Total Mortgage Loan Application Amount | $11,897,000 |
| Average Mortgage Loan Application Amount | $55,593 |
| Highest Mortgage Loan Application Amount | $210,000 |
| Average Applicant Income | $38,957 |
| Highest Applicant Income | $119,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Farmers & Merchants State Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Macoupin, Illinois | 163 | $ 8,412,000 | $ 51,607 | $ 32,000 |
| Sangamon, Illinois | 29 | $ 1,956,000 | $ 67,448 | $ 51,000 |
| Montgomery, Illinois | 12 | $ 911,000 | $ 75,916 | $ 50,000 |
| Morgan, Illinois | 4 | $ 224,000 | $ 56,000 | $ 15,000 |
| Greene, Illinois | 3 | $ 167,000 | $ 55,666 | $ 38,000 |
| Cass, Illinois | 1 | $ 64,000 | $ 64,000 | $ 35,000 |
| Christian, Illinois | 1 | $ 79,000 | $ 79,000 | $ 55,000 |
| Jefferson, Illinois | 1 | $ 84,000 | $ 84,000 | $ 64,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants State Bank 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 | 115 | $7,750,000 | $67,000 | $210,000 | $40,000 | $104,000 |
| Refinancing | 82 | $3,852,000 | $46,000 | $177,000 | $35,000 | $119,000 |
| Home Improvement | 17 | $295,000 | $17,000 | $48,000 | $51,000 | $98,000 |
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 | 171 | $10,314,000 | $60,000 | $210,000 | $45,000 | $119,000 |
| Not Provided | 41 | $1,470,000 | $35,000 | $177,000 | $19,000 | $110,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $58,000 | $58,000 | $58,000 | $43,000 | $43,000 |
| American Indian or Alaskan Native | 1 | $55,000 | $55,000 | $55,000 | $51,000 | $51,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 214 | $11,897,000 | $55,000 | $210,000 | $39,000 | $119,000 |
| 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 | 173 | $9,250,000 | $53,000 | $210,000 | $40,000 | $110,000 |
| Application Withdrawn By Applicant | 27 | $1,869,000 | $69,000 | $159,000 | $37,000 | $72,000 |
| Application Denied By Financial Institution | 14 | $778,000 | $55,000 | $120,000 | $38,000 | $119,000 |
| 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 | 8 | $571,000 | $71,000 | $120,000 | $51,000 | $119,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $165,000 | $82,000 | $120,000 | $40,000 | $50,000 |
| Other | 2 | $8,000 | $4,000 | $5,000 | $40,000 | $47,000 |
| Debt-To-Income Ratio | 1 | $3,000 | $3,000 | $3,000 | $0 | $0 |
| Collateral | 1 | $31,000 | $31,000 | $31,000 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants State Bank'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 State 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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