Firstbank - Alma Mortgage Co Mortgage Lending & HMDA Data, 2011
In 2011, Firstbank - Alma Mortgage Co of Alma, MI reported 550 mortgage applications totaling $49.5 million, down 14% from 2010. The average application was for $89,990, and applicants reported an average income of $77,014. 57% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Saginaw-Saginaw Township North, MI (63), Lansing-East Lansing, MI (47) and Bay City, 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 | 550 |
| Total Mortgage Loan Application Amount | $49,495,000 |
| Average Mortgage Loan Application Amount | $89,990 |
| Highest Mortgage Loan Application Amount | $543,000 |
| Average Applicant Income | $77,014 |
| Highest Applicant Income | $2,865,000 |
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records Firstbank - Alma Mortgage Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Firstbank - Alma Mortgage Co in 2011
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 | 330 | $34,919,000 | $105,000 | $543,000 | $95,000 | $2,865,000 |
| Home Purchase | 212 | $14,021,000 | $66,000 | $400,000 | $50,000 | $381,000 |
| Home Improvement | 8 | $555,000 | $69,000 | $128,000 | $51,000 | $104,000 |
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 | 510 | $46,325,000 | $90,000 | $543,000 | $77,000 | $2,865,000 |
| Hispanic | 21 | $1,610,000 | $76,000 | $186,000 | $45,000 | $186,000 |
| Not Provided | 9 | $416,000 | $46,000 | $154,000 | $45,000 | $74,000 |
| Asian | 5 | $725,000 | $145,000 | $297,000 | $259,000 | $566,000 |
| American Indian or Alaskan Native | 2 | $205,000 | $102,000 | $204,000 | $50,000 | $74,000 |
| Not applicable | 2 | $213,000 | $106,000 | $159,000 | $0 | $0 |
| Black or African American | 1 | $1,000 | $1,000 | $1,000 | $97,000 | $97,000 |
| 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) | 490 | $46,398,000 | $94,000 | $543,000 | $83,000 | $2,865,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 59 | $3,096,000 | $52,000 | $160,000 | $29,000 | $79,000 |
| FHA-insured (Federal Housing Administration) | 1 | $1,000 | $1,000 | $1,000 | $16,000 | $16,000 |
| 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 | 311 | $30,641,000 | $98,000 | $543,000 | $82,000 | $2,046,000 |
| Application Denied By Financial Institution | 100 | $8,341,000 | $83,000 | $400,000 | $55,000 | $170,000 |
| Preapproval Denied by Financial Institution | 79 | $3,423,000 | $43,000 | $160,000 | $38,000 | $381,000 |
| Application Approved But Not Accepted | 54 | $6,432,000 | $119,000 | $297,000 | $98,000 | $566,000 |
| Application Withdrawn By Applicant | 3 | $315,000 | $105,000 | $134,000 | $979,000 | $2,865,000 |
| Loan Purchased By The Institution | 2 | $213,000 | $106,000 | $159,000 | $0 | $0 |
| File Closed For Incompleteness | 1 | $130,000 | $130,000 | $130,000 | $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 2011 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.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About