Farmers State Bank Mortgage Lending & HMDA Data, 2005
In 2005, Farmers State Bank of New Ross, IN reported 187 mortgage applications totaling $15.5 million, up 10% from 2004. The average application was for $82,877, and applicants reported an average income of $56,518. 61% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Indianapolis, IN (54), Bloomington, IN (1) and Lafayette, IN (1) (applications in parentheses).
| Mortgage Company & Address | Farmers State Bank 100 N Main St New Ross, IN 47968 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 187 |
| Total Mortgage Loan Application Amount | $15,498,000 |
| Average Mortgage Loan Application Amount | $82,877 |
| Highest Mortgage Loan Application Amount | $340,000 |
| Average Applicant Income | $56,518 |
| Highest Applicant Income | $293,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Farmers State Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Indianapolis, IN | 54 | $ 4,720,000 | $ 87,407 | $ 56,000 |
| Bloomington, IN | 1 | $ 6,000 | $ 6,000 | $ 25,000 |
| Lafayette, IN | 1 | $ 105,000 | $ 105,000 | $ 246,000 |
| Terre Haute, IN | 1 | $ 144,000 | $ 144,000 | $ 59,000 |
Mortgage Loan Application Detail Totals for Farmers State 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 | 93 | $8,947,000 | $96,000 | $340,000 | $58,000 | $293,000 |
| Home Purchase | 67 | $6,347,000 | $82,500 | $200,000 | $46,000 | $246,000 |
| Home Improvement | 27 | $204,000 | $7,000 | $34,000 | $39,000 | $136,000 |
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 | 173 | $14,014,000 | $75,500 | $340,000 | $46,500 | $293,000 |
| Not Provided | 10 | $882,000 | $88,000 | $200,000 | $36,000 | $108,000 |
| Hispanic | 3 | $444,000 | $148,000 | $242,000 | $40,000 | $42,000 |
| American Indian or Alaskan Native | 1 | $158,000 | $158,000 | $158,000 | $62,000 | $62,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 187 | $15,498,000 | $76,000 | $340,000 | $43,500 | $293,000 |
| 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 | 114 | $8,328,000 | $73,000 | $242,000 | $65,000 | $293,000 |
| Application Denied By Financial Institution | 39 | $3,583,000 | $91,000 | $340,000 | $43,000 | $97,000 |
| Application Withdrawn By Applicant | 32 | $3,321,000 | $103,000 | $200,000 | $70,000 | $177,000 |
| File Closed For Incompleteness | 1 | $196,000 | $196,000 | $196,000 | $0 | $0 |
| Preapproval Denied by Financial Institution | 1 | $70,000 | $70,000 | $70,000 | $30,000 | $30,000 |
| 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 |
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 | 21 | $1,550,000 | $72,000 | $299,000 | $38,000 | $96,000 |
| Debt-To-Income Ratio | 13 | $1,445,000 | $111,000 | $340,000 | $34,000 | $97,000 |
| Collateral | 3 | $471,000 | $157,000 | $250,000 | $63,000 | $82,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $110,000 | $55,000 | $60,000 | $46,000 | $48,000 |
| Employment History | 1 | $77,000 | $77,000 | $77,000 | $55,000 | $55,000 |
| Credit Application Incomplete | 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 State 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 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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with aggregated HMDA statistics today.
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