Firstbank - Alma Mortgage Co Mortgage Lending & HMDA Data, 2012
In 2012, Firstbank - Alma Mortgage Co of Alma, MI reported 800 mortgage applications totaling $80.7 million, up 45% from 2011. The average application was for $100,845, and applicants reported an average income of $71,593. 64% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Lansing-East Lansing, MI (148), Saginaw-Saginaw Township North, MI (87) and Grand Rapids-Wyoming, MI (7) (applications in parentheses).
| Mortgage Company & Address | Firstbank - Alma Mortgage Co 311 Woodworth Ave. Alma, MI 48801 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 800 |
| Total Mortgage Loan Application Amount | $80,676,000 |
| Average Mortgage Loan Application Amount | $100,845 |
| Highest Mortgage Loan Application Amount | $446,000 |
| Average Applicant Income | $71,593 |
| Highest Applicant Income | $771,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Firstbank - Alma Mortgage Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Gratiot, Michigan | 334 | $ 29,078,000 | $ 87,059 | $ 64,000 |
| Clinton, Michigan | 133 | $ 17,668,000 | $ 132,842 | $ 80,000 |
| Saginaw, Michigan | 87 | $ 9,877,000 | $ 113,528 | $ 76,000 |
| Montcalm, Michigan | 45 | $ 3,484,000 | $ 77,422 | $ 62,000 |
| Isabella, Michigan | 20 | $ 1,948,000 | $ 97,400 | $ 58,000 |
| Midland, Michigan | 17 | $ 1,572,000 | $ 92,470 | $ 80,000 |
| Ingham, Michigan | 12 | $ 1,316,000 | $ 109,666 | $ 74,000 |
| Shiawassee, Michigan | 8 | $ 1,046,000 | $ 130,750 | $ 127,000 |
| Bay, Michigan | 5 | $ 659,000 | $ 131,800 | $ 89,000 |
| Clare, Michigan | 5 | $ 470,000 | $ 94,000 | $ 59,000 |
| Gladwin, Michigan | 5 | $ 792,000 | $ 158,400 | $ 173,000 |
| Ionia, Michigan | 5 | $ 544,000 | $ 108,800 | $ 68,000 |
| Iosco, Michigan | 4 | $ 455,000 | $ 113,750 | $ 94,000 |
| Roscommon, Michigan | 4 | $ 715,000 | $ 178,750 | $ 130,000 |
| Calhoun, Michigan | 3 | $ 231,000 | $ 77,000 | $ 80,000 |
| Eaton, Michigan | 3 | $ 661,000 | $ 220,333 | $ 80,000 |
| Grand Traverse, Michigan | 3 | $ 1,119,000 | $ 373,000 | $ 388,000 |
| Mecosta, Michigan | 3 | $ 576,000 | $ 192,000 | $ 203,000 |
| Oakland, Michigan | 3 | $ 709,000 | $ 236,333 | $ 141,000 |
| Antrim, Michigan | 2 | $ 513,000 | $ 256,500 | $ 202,000 |
| Arenac, Michigan | 2 | $ 361,000 | $ 180,500 | $ 249,000 |
| Cheboygan, Michigan | 2 | $ 192,000 | $ 96,000 | $ 92,000 |
| Crawford, Michigan | 2 | $ 137,000 | $ 68,500 | $ 70,000 |
| Kalkaska, Michigan | 2 | $ 186,000 | $ 93,000 | $ 83,000 |
| Kent, Michigan | 2 | $ 167,000 | $ 83,500 | $ 77,000 |
| Mackinac, Michigan | 2 | $ 183,000 | $ 91,500 | $ 102,000 |
| Manistee, Michigan | 2 | $ 392,000 | $ 196,000 | $ 118,000 |
| Presque Isle, Michigan | 2 | $ 271,000 | $ 135,500 | $ 150,000 |
| Wayne, Michigan | 2 | $ 502,000 | $ 251,000 | $ 175,000 |
| Alcona, Michigan | 1 | $ 193,000 | $ 193,000 | $ 108,000 |
| Emmet, Michigan | 1 | $ 209,000 | $ 209,000 | $ 179,000 |
| Genesee, Michigan | 1 | $ 130,000 | $ 130,000 | $ 93,000 |
| Livingston, Michigan | 1 | $ 89,000 | $ 89,000 | $ 23,000 |
| Montmorency, Michigan | 1 | $ 128,000 | $ 128,000 | $ 127,000 |
| Muskegon, Michigan | 1 | $ 125,000 | $ 125,000 | $ 37,000 |
| Oceana, Michigan | 1 | $ 121,000 | $ 121,000 | $ 118,000 |
| Ottawa, Michigan | 1 | $ 191,000 | $ 191,000 | $ 105,000 |
| Washtenaw, Michigan | 1 | $ 132,000 | $ 132,000 | $ 103,000 |
Mortgage Loan Application Detail Totals for Firstbank - Alma Mortgage Co in 2012
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 | 547 | $60,034,000 | $109,000 | $446,000 | $76,000 | $472,000 |
| Home Purchase | 236 | $19,215,000 | $81,000 | $417,000 | $62,000 | $771,000 |
| Home Improvement | 17 | $1,427,000 | $83,000 | $155,000 | $63,000 | $168,000 |
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 | 746 | $76,344,000 | $102,000 | $446,000 | $73,000 | $771,000 |
| Not Provided | 29 | $2,311,000 | $79,000 | $280,000 | $51,000 | $312,000 |
| Hispanic | 18 | $1,257,000 | $69,000 | $173,000 | $51,000 | $117,000 |
| Asian | 4 | $343,000 | $85,000 | $143,000 | $93,000 | $190,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $332,000 | $166,000 | $200,000 | $86,000 | $103,000 |
| Black or African American | 1 | $89,000 | $89,000 | $89,000 | $38,000 | $38,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 758 | $78,449,000 | $103,000 | $446,000 | $74,000 | $771,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 42 | $2,227,000 | $53,000 | $150,000 | $32,000 | $74,000 |
| 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 | 512 | $54,041,000 | $105,000 | $446,000 | $77,000 | $771,000 |
| Application Denied By Financial Institution | 149 | $16,179,000 | $108,000 | $417,000 | $66,000 | $378,000 |
| Preapproval Denied by Financial Institution | 72 | $3,534,000 | $49,000 | $160,000 | $34,000 | $102,000 |
| Application Approved But Not Accepted | 57 | $6,129,000 | $107,000 | $310,000 | $87,000 | $472,000 |
| Application Withdrawn By Applicant | 8 | $565,000 | $70,000 | $136,000 | $66,000 | $167,000 |
| File Closed For Incompleteness | 2 | $228,000 | $114,000 | $120,000 | $112,000 | $143,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 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 Firstbank - Alma Mortgage Co's 2012 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 Firstbank - Alma Mortgage Co'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.
For a list of all lenders in Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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