Firstbank - West Michigan Mortgage Lending & HMDA Data, 2007
In 2007, Firstbank - West Michigan of Ionia, MI reported 211 mortgage applications totaling $18.3 million. The average application was for $86,843, and applicants reported an average income of $47,516. 75% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Grand Rapids-Wyoming, MI (182), Lansing-East Lansing, MI (5) and Cincinnati-Middletown, OH-KY-IN (1) (applications in parentheses).
| Mortgage Company & Address | Firstbank - West Michigan 302 W Main St Ionia, MI 48846 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2012 2011 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 211 |
| Total Mortgage Loan Application Amount | $18,324,000 |
| Average Mortgage Loan Application Amount | $86,843 |
| Highest Mortgage Loan Application Amount | $425,000 |
| Average Applicant Income | $47,516 |
| Highest Applicant Income | $180,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Firstbank - West Michigan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Grand Rapids-Wyoming, MI | 182 | $ 15,146,000 | $ 83,219 | $ 47,000 |
| Lansing-East Lansing, MI | 5 | $ 699,000 | $ 139,800 | $ 73,000 |
| Cincinnati-Middletown, OH-KY-IN | 1 | $ 175,000 | $ 175,000 | $ 180,000 |
| Kalamazoo-Portage, MI | 1 | $ 49,000 | $ 49,000 | $ 0 |
| Muskegon-Norton Shores, MI | 1 | $ 160,000 | $ 160,000 | $ 65,000 |
Mortgage Loan Application Detail Totals for Firstbank - West Michigan in 2007
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 | 109 | $10,017,000 | $91,000 | $329,000 | $48,000 | $170,000 |
| Home Purchase | 71 | $6,756,000 | $95,000 | $425,000 | $47,000 | $180,000 |
| Home Improvement | 31 | $1,551,000 | $50,000 | $167,000 | $47,000 | $120,000 |
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 | 189 | $15,926,000 | $84,000 | $293,000 | $51,000 | $180,000 |
| Not applicable | 14 | $1,417,000 | $101,000 | $425,000 | $0 | $0 |
| Not Provided | 3 | $215,000 | $71,000 | $85,000 | $49,000 | $95,000 |
| Hispanic | 3 | $513,000 | $171,000 | $329,000 | $70,000 | $150,000 |
| Black or African American | 2 | $253,000 | $126,000 | $170,000 | $46,000 | $72,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 209 | $18,203,000 | $87,000 | $425,000 | $48,000 | $180,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $121,000 | $60,000 | $75,000 | $24,000 | $24,000 |
| 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 | 159 | $13,538,000 | $85,000 | $425,000 | $49,000 | $180,000 |
| Application Denied By Financial Institution | 31 | $2,755,000 | $88,000 | $264,000 | $42,000 | $111,000 |
| Application Withdrawn By Applicant | 16 | $1,463,000 | $91,000 | $225,000 | $46,000 | $113,000 |
| Application Approved But Not Accepted | 3 | $292,000 | $97,000 | $167,000 | $31,000 | $59,000 |
| File Closed For Incompleteness | 1 | $150,000 | $150,000 | $150,000 | $29,000 | $29,000 |
| Loan Purchased By The Institution | 1 | $126,000 | $126,000 | $126,000 | $103,000 | $103,000 |
| 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 | 16 | $1,251,000 | $78,000 | $204,000 | $47,000 | $96,000 |
| Debt-To-Income Ratio | 13 | $1,391,000 | $107,000 | $264,000 | $36,000 | $111,000 |
| Collateral | 2 | $113,000 | $56,000 | $69,000 | $42,000 | $54,000 |
| Credit Application Incomplete | 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 - West Michigan's 2007 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 - West Michigan'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