First-Knox National Bank Mortgage Lending & HMDA Data, 2007
In 2007, First-Knox National Bank of Mount Vernon, OH reported 827 mortgage applications totaling $66.5 million, down 9% from 2006. The average application was for $80,408, and applicants reported an average income of $74,686. 80% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Columbus, OH (97), Mansfield, OH (80) and Cleveland-Elyria-Mentor, OH (16) (applications in parentheses).
| Mortgage Company & Address | First-Knox National Bank 1 South Main Street Mount Vernon, OH 43050 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 827 |
| Total Mortgage Loan Application Amount | $66,498,000 |
| Average Mortgage Loan Application Amount | $80,408 |
| Highest Mortgage Loan Application Amount | $1,286,000 |
| Average Applicant Income | $74,686 |
| Highest Applicant Income | $2,592,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First-Knox National Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for First-Knox National Bank in 2007
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 | 359 | $41,192,000 | $114,000 | $1,286,000 | $78,000 | $2,592,000 |
| Home Purchase | 256 | $22,085,000 | $86,000 | $880,000 | $88,000 | $1,545,000 |
| Home Improvement | 212 | $3,221,000 | $15,000 | $160,000 | $53,000 | $500,000 |
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 | 804 | $65,236,000 | $81,000 | $1,286,000 | $75,000 | $2,592,000 |
| Black or African American | 8 | $91,000 | $11,000 | $25,000 | $40,000 | $90,000 |
| Not Provided | 6 | $590,000 | $98,000 | $140,000 | $99,000 | $360,000 |
| Hispanic | 4 | $315,000 | $78,000 | $228,000 | $74,000 | $134,000 |
| Not applicable | 3 | $153,000 | $51,000 | $74,000 | $0 | $0 |
| American Indian or Alaskan Native | 2 | $113,000 | $56,000 | $63,000 | $52,000 | $72,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 827 | $66,498,000 | $80,000 | $1,286,000 | $75,000 | $2,592,000 |
| 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 | 660 | $53,843,000 | $81,000 | $1,286,000 | $81,000 | $2,592,000 |
| Application Denied By Financial Institution | 122 | $7,468,000 | $61,000 | $280,000 | $41,000 | $120,000 |
| Application Withdrawn By Applicant | 44 | $5,122,000 | $116,000 | $365,000 | $69,000 | $283,000 |
| Application Approved But Not Accepted | 1 | $65,000 | $65,000 | $65,000 | $99,000 | $99,000 |
| 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 | 60 | $2,985,000 | $49,000 | $175,000 | $46,000 | $120,000 |
| Debt-To-Income Ratio | 45 | $3,263,000 | $72,000 | $280,000 | $34,000 | $67,000 |
| Collateral | 8 | $503,000 | $62,000 | $110,000 | $42,000 | $74,000 |
| Employment History | 4 | $155,000 | $38,000 | $58,000 | $26,000 | $29,000 |
| Unverifiable Information | 2 | $371,000 | $185,000 | $225,000 | $65,000 | $90,000 |
| Other | 1 | $1,000 | $1,000 | $1,000 | $14,000 | $14,000 |
| Credit Application Incomplete | 1 | $55,000 | $55,000 | $55,000 | $26,000 | $26,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $135,000 | $135,000 | $135,000 | $40,000 | $40,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First-Knox National Bank's 2007 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 First-Knox National 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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