First-Knox National Bank Mortgage Lending & HMDA Data, 2006
In 2006, First-Knox National Bank of Mount Vernon, OH reported 909 mortgage applications totaling $73.0 million, up 9% from 2005. The average application was for $80,297, and applicants reported an average income of $64,953. 81% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Columbus, OH (123), Mansfield, OH (71) and Cleveland-Elyria-Mentor, OH (18) (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 | 909 |
| Total Mortgage Loan Application Amount | $72,990,000 |
| Average Mortgage Loan Application Amount | $80,297 |
| Highest Mortgage Loan Application Amount | $775,000 |
| Average Applicant Income | $64,953 |
| Highest Applicant Income | $1,328,000 |
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(HMDA) records First-Knox National Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2006
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 | 434 | $45,680,000 | $105,000 | $775,000 | $63,000 | $843,000 |
| Home Purchase | 257 | $22,831,000 | $88,000 | $560,000 | $75,000 | $1,328,000 |
| Home Improvement | 218 | $4,479,000 | $20,000 | $265,000 | $57,000 | $309,000 |
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 | 871 | $69,604,000 | $79,000 | $775,000 | $66,000 | $1,328,000 |
| Not Provided | 11 | $1,305,000 | $118,000 | $308,000 | $65,000 | $127,000 |
| Black or African American | 9 | $124,000 | $13,000 | $72,000 | $53,000 | $124,000 |
| Not applicable | 7 | $1,038,000 | $148,000 | $300,000 | $0 | $0 |
| American Indian or Alaskan Native | 4 | $222,000 | $55,000 | $117,000 | $37,000 | $54,000 |
| Asian | 4 | $633,000 | $158,000 | $265,000 | $44,000 | $81,000 |
| Hispanic | 3 | $64,000 | $21,000 | $58,000 | $39,000 | $46,000 |
| 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) | 908 | $72,918,000 | $80,000 | $775,000 | $65,000 | $1,328,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $72,000 | $72,000 | $72,000 | $57,000 | $57,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 735 | $60,053,000 | $81,000 | $775,000 | $69,000 | $1,328,000 |
| Application Denied By Financial Institution | 120 | $7,344,000 | $61,000 | $315,000 | $47,000 | $208,000 |
| Application Withdrawn By Applicant | 54 | $5,593,000 | $103,000 | $338,000 | $51,000 | $110,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| 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 | 62 | $3,274,000 | $52,000 | $236,000 | $48,000 | $140,000 |
| Debt-To-Income Ratio | 45 | $3,095,000 | $68,000 | $315,000 | $41,000 | $166,000 |
| Employment History | 4 | $185,000 | $46,000 | $128,000 | $67,000 | $208,000 |
| Collateral | 4 | $203,000 | $50,000 | $79,000 | $77,000 | $120,000 |
| Credit Application Incomplete | 2 | $260,000 | $130,000 | $200,000 | $34,000 | $36,000 |
| Mortgage Insurance Denied | 1 | $113,000 | $113,000 | $113,000 | $113,000 | $113,000 |
| Other | 1 | $114,000 | $114,000 | $114,000 | $85,000 | $85,000 |
| Unverifiable Information | 1 | $100,000 | $100,000 | $100,000 | $34,000 | $34,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First-Knox National Bank's 2006 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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