First Merchants Bank Mortgage Lending & HMDA Data, 2016
In 2016, First Merchants Bank of Muncie, IN reported 5,457 mortgage applications totaling $819.2 million. The average application was for $150,112, and applicants reported an average income of $84,059. 50% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Indianapolis-Carmel-Anderson, IN (1,215), Lafayette-West Lafayette, IN (422) and Muncie, IN (393) (applications in parentheses).
| Mortgage Company & Address | First Merchants Bank 200 E. Jackson St. Muncie, IN 47305 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 |
| Total Number of Mortgage Applications | 5,457 |
| Total Mortgage Loan Application Amount | $819,164,000 |
| Average Mortgage Loan Application Amount | $150,112 |
| Highest Mortgage Loan Application Amount | $17,413,000 |
| Average Applicant Income | $84,059 |
| Highest Applicant Income | $6,975,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Merchants Bank in 2016
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 | 3,056 | $444,315,000 | $145,000 | $17,413,000 | $76,000 | $6,975,000 |
| Refinancing | 1,840 | $348,073,000 | $189,000 | $13,600,000 | $106,000 | $4,722,000 |
| Home Improvement | 561 | $26,776,000 | $47,000 | $2,207,000 | $56,000 | $600,000 |
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 | 3,933 | $504,503,000 | $128,000 | $2,554,000 | $94,000 | $6,975,000 |
| Not Provided | 825 | $107,966,000 | $130,000 | $800,000 | $79,000 | $1,800,000 |
| Not applicable | 298 | $162,852,000 | $546,000 | $17,413,000 | $0 | $83,000 |
| Hispanic | 176 | $16,665,000 | $94,000 | $405,000 | $59,000 | $318,000 |
| Black or African American | 152 | $12,805,000 | $84,000 | $400,000 | $54,000 | $600,000 |
| Asian | 57 | $12,095,000 | $212,000 | $1,270,000 | $140,000 | $1,211,000 |
| American Indian or Alaskan Native | 12 | $1,069,000 | $89,000 | $250,000 | $46,000 | $92,000 |
| Native Hawaiin or Other Pacific Islander | 4 | $1,209,000 | $302,000 | $800,000 | $88,000 | $102,000 |
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) | 4,173 | $672,355,000 | $161,000 | $17,413,000 | $95,000 | $6,975,000 |
| FHA-insured (Federal Housing Administration) | 736 | $86,620,000 | $117,000 | $344,000 | $52,000 | $1,800,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 416 | $39,151,000 | $94,000 | $325,000 | $42,000 | $527,000 |
| VA-guaranteed (Veterans Administration) | 132 | $21,038,000 | $159,000 | $667,000 | $64,000 | $226,000 |
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 | 2,741 | $470,541,000 | $171,000 | $17,413,000 | $100,000 | $6,975,000 |
| Preapproval Denied by Financial Institution | 1,489 | $172,091,000 | $115,000 | $784,000 | $57,000 | $1,800,000 |
| Application Denied By Financial Institution | 770 | $90,763,000 | $117,000 | $2,220,000 | $66,000 | $1,350,000 |
| Application Withdrawn By Applicant | 296 | $55,170,000 | $186,000 | $1,520,000 | $122,000 | $4,722,000 |
| Application Approved But Not Accepted | 87 | $16,339,000 | $187,000 | $2,405,000 | $101,000 | $1,418,000 |
| File Closed For Incompleteness | 42 | $8,757,000 | $208,000 | $2,100,000 | $90,000 | $540,000 |
| Preapproval Approved but not Accepted | 32 | $5,503,000 | $171,000 | $718,000 | $108,000 | $1,098,000 |
| Loan Purchased By The 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 Application Incomplete | 872 | $119,708,000 | $137,000 | $1,240,000 | $68,000 | $1,350,000 |
| Credit History | 821 | $74,478,000 | $90,000 | $2,032,000 | $54,000 | $1,800,000 |
| Debt-To-Income Ratio | 301 | $34,281,000 | $113,000 | $1,900,000 | $42,000 | $235,000 |
| Collateral | 161 | $22,307,000 | $138,000 | $2,220,000 | $82,000 | $544,000 |
| Employment History | 44 | $4,830,000 | $109,000 | $620,000 | $47,000 | $165,000 |
| Unverifiable Information | 27 | $3,007,000 | $111,000 | $238,000 | $53,000 | $166,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 17 | $2,246,000 | $132,000 | $600,000 | $93,000 | $745,000 |
| Other | 16 | $1,997,000 | $124,000 | $353,000 | $47,000 | $141,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Merchants Bank's 2016 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 Merchants 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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