Firstmerit Bank NA Mortgage Lending & HMDA Data, 2014
In 2014, Firstmerit Bank NA of Akron, OH reported 7,898 mortgage applications totaling $1.2 billion, down 25% from 2013. The average application was for $151,368, and applicants reported an average income of $79,188. 56% of its applications resulted in an originated loan and 24% were denied. Its largest markets were Cleveland-Elyria, OH (1,378), Akron, OH (844) and Canton-Massillon, OH (682) (applications in parentheses).
| Mortgage Company & Address | Firstmerit Bank NA III Cascade Plaza - Cas46 Akron, OH 44308 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 7,898 |
| Total Mortgage Loan Application Amount | $1,195,512,000 |
| Average Mortgage Loan Application Amount | $151,368 |
| Highest Mortgage Loan Application Amount | $34,000,000 |
| Average Applicant Income | $79,188 |
| Highest Applicant Income | $3,644,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Firstmerit Bank NA filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Cleveland-Elyria, OH | 1,378 | $ 214,096,000 | $ 155,367 | $ 80,000 |
| Akron, OH | 844 | $ 113,336,000 | $ 134,284 | $ 71,000 |
| Canton-Massillon, OH | 682 | $ 68,810,000 | $ 100,894 | $ 68,000 |
| Chicago-Naperville-Arlington Heights, IL | 520 | $ 135,440,000 | $ 260,461 | $ 104,000 |
| Flint, MI | 454 | $ 30,579,000 | $ 67,354 | $ 66,000 |
| Warren-Troy-Farmington Hills, MI | 328 | $ 65,343,000 | $ 199,216 | $ 143,000 |
| Columbus, OH | 302 | $ 77,440,000 | $ 256,423 | $ 90,000 |
| Detroit-Dearborn-Livonia, MI | 234 | $ 21,073,000 | $ 90,055 | $ 63,000 |
| Saginaw, MI | 167 | $ 10,689,000 | $ 64,005 | $ 86,000 |
| Mansfield, OH | 140 | $ 10,871,000 | $ 77,650 | $ 61,000 |
| Jackson, MI | 105 | $ 26,926,000 | $ 256,438 | $ 55,000 |
| Bay City, MI | 97 | $ 6,183,000 | $ 63,742 | $ 53,000 |
| Lansing-East Lansing, MI | 85 | $ 5,822,000 | $ 68,494 | $ 57,000 |
| Ann Arbor, MI | 80 | $ 45,468,000 | $ 568,350 | $ 88,000 |
| Toledo, OH | 80 | $ 28,827,000 | $ 360,337 | $ 85,000 |
| Youngstown-Warren-Boardman, OH-PA | 78 | $ 11,652,000 | $ 149,384 | $ 53,602 |
| Green Bay, WI | 76 | $ 7,662,000 | $ 100,815 | $ 77,000 |
| Midland, MI | 46 | $ 6,234,000 | $ 135,521 | $ 90,000 |
| Lake County-Kenosha County, IL-WI | 32 | $ 8,413,000 | $ 262,906 | $ 142,062 |
| Appleton, WI | 28 | $ 3,213,000 | $ 114,750 | $ 67,000 |
| Monroe, MI | 24 | $ 2,421,000 | $ 100,875 | $ 71,000 |
| Grand Rapids-Wyoming, MI | 20 | $ 17,221,000 | $ 861,050 | $ 78,000 |
| Pittsburgh, PA | 19 | $ 2,331,000 | $ 122,684 | $ 93,000 |
| Elgin, IL | 18 | $ 5,880,000 | $ 326,666 | $ 115,000 |
| Oshkosh-Neenah, WI | 15 | $ 1,538,000 | $ 102,533 | $ 60,000 |
| Battle Creek, MI | 12 | $ 854,000 | $ 71,166 | $ 56,000 |
| Milwaukee-Waukesha-West Allis, WI | 11 | $ 2,121,000 | $ 192,818 | $ 60,000 |
| Cape Coral-Fort Myers, FL | 10 | $ 4,150,000 | $ 415,000 | $ 667,000 |
| Cincinnati, OH-KY-IN | 9 | $ 42,185,000 | $ 4,687,222 | $ 64,000 |
| Madison, WI | 9 | $ 532,000 | $ 59,111 | $ 38,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 9 | $ 436,000 | $ 48,444 | $ 77,111 |
| Muskegon, MI | 8 | $ 314,000 | $ 39,250 | $ 94,000 |
| Dayton, OH | 7 | $ 851,000 | $ 121,571 | $ 142,000 |
| Duluth, MN-WI | 7 | $ 232,000 | $ 33,142 | $ 45,000 |
| Miami-Miami Beach-Kendall, FL | 6 | $ 1,063,000 | $ 177,166 | $ 394,000 |
| Naples-Immokalee-Marco Island, FL | 6 | $ 2,428,000 | $ 404,666 | $ 493,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 5 | $ 833,000 | $ 166,600 | $ 131,000 |
| Indianapolis-Carmel-Anderson, IN | 5 | $ 3,978,000 | $ 795,600 | $ 53,000 |
| Kalamazoo-Portage, MI | 4 | $ 307,000 | $ 76,750 | $ 58,000 |
| Lexington-Fayette, KY | 4 | $ 8,453,000 | $ 2,113,250 | $ 38,000 |
| North Port-Sarasota-Bradenton, FL | 4 | $ 1,009,000 | $ 252,250 | $ 292,000 |
| Sebastian-Vero Beach, FL | 4 | $ 1,200,000 | $ 300,000 | $ 1,104,000 |
| Tampa-St. Petersburg-Clearwater, FL | 4 | $ 1,483,000 | $ 370,750 | $ 299,000 |
| East Stroudsburg, PA | 3 | $ 340,000 | $ 113,333 | $ 206,000 |
| Homosassa Springs, FL | 3 | $ 220,000 | $ 73,333 | $ 70,000 |
| Orlando-Kissimmee-Sanford, FL | 3 | $ 612,000 | $ 204,000 | $ 37,000 |
| Racine, WI | 3 | $ 215,000 | $ 71,666 | $ 32,000 |
| South Bend-Mishawaka, IN-MI | 3 | $ 153,000 | $ 51,000 | $ 37,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 3 | $ 678,000 | $ 226,000 | $ 592,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 2 | $ 776,000 | $ 388,000 | $ 807,000 |
| Gary, IN | 2 | $ 747,000 | $ 373,500 | $ 627,000 |
| Janesville-Beloit, WI | 2 | $ 108,000 | $ 54,000 | $ 40,000 |
| La Crosse-Onalaska, WI-MN | 2 | $ 287,000 | $ 143,500 | $ 103,000 |
| Montgomery County-Bucks County-Chester County, PA | 2 | $ 644,000 | $ 322,000 | $ 118,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 2 | $ 300,000 | $ 150,000 | $ 257,000 |
| Phoenix-Mesa-Scottsdale, AZ | 2 | $ 305,000 | $ 152,500 | $ 97,000 |
| Rockford, IL | 2 | $ 267,000 | $ 133,500 | $ 72,000 |
| Springfield, OH | 2 | $ 102,000 | $ 51,000 | $ 133,000 |
| The Villages, FL | 2 | $ 971,000 | $ 485,500 | $ 233,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 1 | $ 144,000 | $ 144,000 | $ 64,000 |
| Buffalo-Cheektowaga-Niagara Falls, NY | 1 | $ 2,075,000 | $ 2,075,000 | $ 0 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 128,000 | $ 128,000 | $ 73,000 |
| Columbia, SC | 1 | $ 52,000 | $ 52,000 | $ 48,000 |
| Crestview-Fort Walton Beach-Destin, FL | 1 | $ 458,000 | $ 458,000 | $ 661,000 |
| Erie, PA | 1 | $ 208,000 | $ 208,000 | $ 156,000 |
| Fond Du Lac, WI | 1 | $ 90,000 | $ 90,000 | $ 94,000 |
| Greensboro-High Point, NC | 1 | $ 532,000 | $ 532,000 | $ 318,000 |
| Greenville-Anderson-Mauldin, SC | 1 | $ 64,000 | $ 64,000 | $ 45,000 |
| Huntsville, AL | 1 | $ 295,000 | $ 295,000 | $ 171,000 |
| Jacksonville, FL | 1 | $ 201,000 | $ 201,000 | $ 112,000 |
| Knoxville, TN | 1 | $ 40,000 | $ 40,000 | $ 21,000 |
| Michigan City-La Porte, IN | 1 | $ 263,000 | $ 263,000 | $ 186,000 |
| Muncie, IN | 1 | $ 14,000,000 | $ 14,000,000 | $ 0 |
| Newark, NJ-PA | 1 | $ 130,000 | $ 130,000 | $ 82,000 |
| Port St. Lucie, FL | 1 | $ 85,000 | $ 85,000 | $ 127,000 |
| Punta Gorda, FL | 1 | $ 294,000 | $ 294,000 | $ 217,000 |
| Raleigh, NC | 1 | $ 196,000 | $ 196,000 | $ 0 |
| Sheboygan, WI | 1 | $ 440,000 | $ 440,000 | $ 472,000 |
| St. Louis, MO-IL | 1 | $ 85,000 | $ 85,000 | $ 70,000 |
| Utica-Rome, NY | 1 | $ 194,000 | $ 194,000 | $ 188,000 |
| Wausau, WI | 1 | $ 40,000 | $ 40,000 | $ 31,000 |
| Weirton-Steubenville, WV-OH | 1 | $ 170,000 | $ 170,000 | $ 70,000 |
Mortgage Loan Application Detail Totals for Firstmerit Bank NA in 2014
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 | 3,293 | $543,119,000 | $164,000 | $34,000,000 | $84,000 | $1,660,000 |
| Home Purchase | 3,269 | $551,834,000 | $168,000 | $34,000,000 | $83,000 | $3,644,000 |
| Home Improvement | 1,336 | $100,559,000 | $75,000 | $18,072,000 | $58,000 | $984,000 |
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 | 5,400 | $559,465,000 | $103,000 | $1,600,000 | $76,000 | $2,000,000 |
| Not Provided | 1,655 | $254,727,000 | $153,000 | $3,260,000 | $102,000 | $3,644,000 |
| Black or African American | 525 | $29,959,000 | $57,000 | $500,000 | $46,000 | $220,000 |
| Hispanic | 167 | $15,858,000 | $94,000 | $1,200,000 | $62,000 | $1,656,000 |
| Asian | 67 | $8,457,000 | $126,000 | $458,000 | $110,000 | $710,000 |
| Not applicable | 51 | $324,292,000 | $6,358,000 | $34,000,000 | $0 | $0 |
| American Indian or Alaskan Native | 22 | $1,604,000 | $72,000 | $450,000 | $62,000 | $237,000 |
| Native Hawaiian or Other Pacific Islander | 11 | $1,150,000 | $104,000 | $417,000 | $165,000 | $500,000 |
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) | 7,222 | $1,125,162,000 | $155,000 | $34,000,000 | $82,000 | $3,644,000 |
| FHA-insured (Federal Housing Administration) | 572 | $56,722,000 | $99,000 | $417,000 | $47,000 | $366,000 |
| VA-guaranteed (Veterans Administration) | 80 | $11,094,000 | $138,000 | $375,000 | $59,000 | $257,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 24 | $2,534,000 | $105,000 | $180,000 | $29,000 | $80,000 |
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 | 4,410 | $676,378,000 | $153,000 | $34,000,000 | $89,000 | $3,644,000 |
| Application Denied By Financial Institution | 1,921 | $208,874,000 | $108,000 | $20,000,000 | $56,000 | $692,000 |
| Application Withdrawn By Applicant | 992 | $249,864,000 | $251,000 | $34,000,000 | $88,000 | $2,148,000 |
| File Closed For Incompleteness | 216 | $30,894,000 | $143,000 | $1,140,000 | $80,000 | $420,000 |
| Application Approved But Not Accepted | 155 | $11,145,000 | $71,000 | $380,000 | $81,000 | $598,000 |
| Preapproval Denied by Financial Institution | 105 | $10,588,000 | $100,000 | $618,000 | $33,000 | $135,000 |
| Loan Purchased By The Institution | 99 | $7,769,000 | $78,000 | $302,000 | $62,000 | $533,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 799 | $49,670,000 | $62,000 | $18,072,000 | $52,000 | $630,000 |
| Debt-To-Income Ratio | 550 | $66,789,000 | $121,000 | $15,020,000 | $40,000 | $227,000 |
| Collateral | 367 | $50,016,000 | $136,000 | $2,200,000 | $85,000 | $692,000 |
| Other | 155 | $9,976,000 | $64,000 | $238,000 | $55,000 | $249,000 |
| Credit Application Incomplete | 77 | $3,773,000 | $49,000 | $202,000 | $74,000 | $401,000 |
| Unverifiable Information | 46 | $7,703,000 | $167,000 | $950,000 | $31,000 | $170,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 25 | $30,329,000 | $1,213,000 | $20,000,000 | $29,000 | $96,000 |
| Employment History | 7 | $1,206,000 | $172,000 | $800,000 | $20,000 | $47,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Firstmerit Bank NA's 2014 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 Firstmerit Bank NA'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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