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records Firstbank - Alma Mortgage Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
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.
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