Frances Slocum Bank & Trust NA Mortgage Lending & HMDA Data, 2006
In 2006, Frances Slocum Bank & Trust NA of Wabash, IN reported 275 mortgage applications totaling $16.1 million, up 39% from 2005. The average application was for $58,443, and applicants reported an average income of $57,032. 73% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Kokomo, IN (24), Indianapolis-Carmel, IN (5) and Fort Wayne, IN (3) (applications in parentheses).
| Mortgage Company & Address | Frances Slocum Bank & Trust NA 1250 North Cass Street P O Box 588 Wabash, IN 46992 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 |
| Total Number of Mortgage Applications | 275 |
| Total Mortgage Loan Application Amount | $16,072,000 |
| Average Mortgage Loan Application Amount | $58,443 |
| Highest Mortgage Loan Application Amount | $400,000 |
| Average Applicant Income | $57,032 |
| Highest Applicant Income | $465,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Frances Slocum Bank & Trust NA filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Frances Slocum Bank & Trust NA in 2006
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 | 153 | $9,265,000 | $60,000 | $400,000 | $54,000 | $180,000 |
| Home Purchase | 83 | $5,896,000 | $71,000 | $215,000 | $57,000 | $240,000 |
| Home Improvement | 39 | $911,000 | $23,000 | $150,000 | $69,000 | $465,000 |
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 | 244 | $13,200,000 | $54,000 | $236,000 | $58,000 | $465,000 |
| Not Provided | 25 | $2,541,000 | $101,000 | $400,000 | $49,000 | $180,000 |
| Hispanic | 3 | $191,000 | $63,000 | $130,000 | $78,000 | $95,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $33,000 | $33,000 | $33,000 | $36,000 | $36,000 |
| American Indian or Alaskan Native | 1 | $88,000 | $88,000 | $88,000 | $38,000 | $38,000 |
| Asian | 1 | $19,000 | $19,000 | $19,000 | $70,000 | $70,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 275 | $16,072,000 | $58,000 | $400,000 | $57,000 | $465,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 201 | $9,604,000 | $47,000 | $400,000 | $60,000 | $465,000 |
| Application Denied By Financial Institution | 40 | $3,362,000 | $84,000 | $236,000 | $44,000 | $143,000 |
| Application Withdrawn By Applicant | 27 | $2,347,000 | $86,000 | $193,000 | $59,000 | $240,000 |
| File Closed For Incompleteness | 4 | $455,000 | $113,000 | $132,000 | $42,000 | $55,000 |
| Application Approved But Not Accepted | 2 | $244,000 | $122,000 | $200,000 | $42,000 | $55,000 |
| Preapproval Denied by Financial Institution | 1 | $60,000 | $60,000 | $60,000 | $25,000 | $25,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 25 | $2,014,000 | $80,000 | $150,000 | $44,000 | $143,000 |
| Collateral | 8 | $591,000 | $73,000 | $159,000 | $50,000 | $99,000 |
| Debt-To-Income Ratio | 6 | $666,000 | $111,000 | $236,000 | $37,000 | $127,000 |
| Employment History | 1 | $60,000 | $60,000 | $60,000 | $25,000 | $25,000 |
| Other | 1 | $91,000 | $91,000 | $91,000 | $26,000 | $26,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Frances Slocum Bank & Trust NA's 2006 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 Frances Slocum Bank & Trust 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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