Franklin Synergy Bank Mortgage Lending & HMDA Data, 2019
In 2019, Franklin Synergy Bank of Franklin, TN reported 1,885 mortgage applications totaling $772.4 million, up 13% from 2018. The average application was for $409,779, and applicants reported an average income of $188,874. 77% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Nashville-Davidson--Murfreesboro--Franklin, TN (1,706), Clarksville, TN-KY (21) and Crestview-Fort Walton Beach-Destin, FL (15) (applications in parentheses).
| Mortgage Company & Address | Franklin Synergy Bank 722 Columbia Avenue Franklin, TN 37064 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 1,885 |
| Total Mortgage Loan Application Amount | $772,435,000 |
| Average Mortgage Loan Application Amount | $409,779 |
| Highest Mortgage Loan Application Amount | $40,005,000 |
| Average Applicant Income | $188,874 |
| Highest Applicant Income | $4,520,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Franklin Synergy Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Nashville-Davidson--Murfreesboro--Franklin, TN | 1,706 | $ 721,510,000 | $ 422,924 | $ 185,000 |
| Outside any metro area | 68 | $ 18,140,000 | $ 266,764 | $ 208,264 |
| Clarksville, TN-KY | 21 | $ 4,765,000 | $ 226,904 | $ 113,000 |
| Crestview-Fort Walton Beach-Destin, FL | 15 | $ 5,725,000 | $ 381,666 | $ 224,000 |
| Chattanooga, TN-GA | 12 | $ 2,250,000 | $ 187,500 | $ 80,333 |
| Huntsville, AL | 9 | $ 1,125,000 | $ 125,000 | $ 179,000 |
| Memphis, TN-MS-AR | 8 | $ 1,460,000 | $ 182,500 | $ 134,000 |
| Knoxville, TN | 4 | $ 760,000 | $ 190,000 | $ 108,000 |
| Hilton Head Island-Bluffton-Beaufort, SC | 3 | $ 865,000 | $ 288,333 | $ 214,000 |
| Akron, OH | 2 | $ 270,000 | $ 135,000 | $ 348,000 |
| Birmingham-Hoover, AL | 2 | $ 390,000 | $ 195,000 | $ 129,000 |
| Jackson, TN | 2 | $ 470,000 | $ 235,000 | $ 40,000 |
| Jacksonville, FL | 2 | $ 590,000 | $ 295,000 | $ 99,000 |
| Tampa-St. Petersburg-Clearwater, FL | 2 | $ 840,000 | $ 420,000 | $ 285,000 |
| Wilmington, NC | 2 | $ 680,000 | $ 340,000 | $ 368,000 |
| Albany-Schenectady-Troy, NY | 1 | $ 225,000 | $ 225,000 | $ 249,000 |
| Amarillo, TX | 1 | $ 375,000 | $ 375,000 | $ 385,000 |
| Ann Arbor, MI | 1 | $ 185,000 | $ 185,000 | $ 0 |
| Atlanta-Sandy Springs-Roswell, GA | 1 | $ 195,000 | $ 195,000 | $ 144,000 |
| Auburn-Opelika, AL | 1 | $ 285,000 | $ 285,000 | $ 65,000 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 375,000 | $ 375,000 | $ 80,000 |
| Cheyenne, WY | 1 | $ 265,000 | $ 265,000 | $ 82,000 |
| Cleveland, TN | 1 | $ 435,000 | $ 435,000 | $ 224,000 |
| Dallas-Plano-Irving, TX | 1 | $ 245,000 | $ 245,000 | $ 105,000 |
| Daphne-Fairhope-Foley, AL | 1 | $ 105,000 | $ 105,000 | $ 88,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 1 | $ 435,000 | $ 435,000 | $ 177,000 |
| Greenville-Anderson-Mauldin, SC | 1 | $ 225,000 | $ 225,000 | $ 932,000 |
| Kingsport-Bristol-Bristol, TN-VA | 1 | $ 195,000 | $ 195,000 | $ 111,000 |
| Los Angeles-Long Beach-Glendale, CA | 1 | $ 965,000 | $ 965,000 | $ 1,765,000 |
| Miami-Miami Beach-Kendall, FL | 1 | $ 2,335,000 | $ 2,335,000 | $ 0 |
| Morristown, TN | 1 | $ 105,000 | $ 105,000 | $ 65,000 |
| Nassau County-Suffolk County, NY | 1 | $ 575,000 | $ 575,000 | $ 1,200,000 |
| New York-Jersey City-White Plains, NY-NJ | 1 | $ 1,555,000 | $ 1,555,000 | $ 0 |
| North Port-Sarasota-Bradenton, FL | 1 | $ 1,615,000 | $ 1,615,000 | $ 1,466,000 |
| Pensacola-Ferry Pass-Brent, FL | 1 | $ 205,000 | $ 205,000 | $ 216,000 |
| Punta Gorda, FL | 1 | $ 195,000 | $ 195,000 | $ 1,080,000 |
| Raleigh, NC | 1 | $ 215,000 | $ 215,000 | $ 97,000 |
| Richmond, VA | 1 | $ 475,000 | $ 475,000 | $ 182,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 345,000 | $ 345,000 | $ 306,000 |
| Sacramento--Roseville--Arden-Arcade, CA | 1 | $ 25,000 | $ 25,000 | $ 0 |
| St. Louis, MO-IL | 1 | $ 185,000 | $ 185,000 | $ 65,000 |
| Syracuse, NY | 1 | $ 255,000 | $ 255,000 | $ 79,000 |
Mortgage Loan Application Detail Totals for Franklin Synergy Bank in 2019
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 1,265 | $552,455,000 | $436,000 | $40,005,000 | $203,000 | $4,520,000 |
| Refinancing | 379 | $139,905,000 | $369,000 | $3,795,000 | $175,000 | $1,575,000 |
| Cash-out Refinancing | 211 | $63,245,000 | $299,000 | $995,000 | $125,000 | $1,200,000 |
| Home Improvement | 22 | $14,430,000 | $655,000 | $6,745,000 | $245,000 | $909,000 |
| Other Purpose | 8 | $2,400,000 | $300,000 | $485,000 | $143,000 | $298,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 1,326 | $451,200,000 | $340,000 | $2,705,000 | $187,000 | $4,520,000 |
| Not applicable | 197 | $195,785,000 | $993,000 | $40,005,000 | $0 | $0 |
| Not Provided | 192 | $71,930,000 | $374,000 | $1,455,000 | $236,000 | $1,735,000 |
| Black or African American | 68 | $21,020,000 | $309,000 | $1,125,000 | $171,000 | $1,765,000 |
| Hispanic | 45 | $12,375,000 | $275,000 | $665,000 | $105,000 | $593,000 |
| Asian | 45 | $15,015,000 | $333,000 | $785,000 | $130,000 | $416,000 |
| American Indian or Alaskan Native | 8 | $3,070,000 | $383,000 | $485,000 | $160,000 | $295,000 |
| 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) | 1,626 | $690,030,000 | $424,000 | $40,005,000 | $204,000 | $4,520,000 |
| FHA-insured (Federal Housing Administration) | 152 | $47,200,000 | $310,000 | $545,000 | $95,000 | $235,000 |
| VA-guaranteed (Veterans Administration) | 100 | $33,840,000 | $338,000 | $785,000 | $95,000 | $295,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 7 | $1,365,000 | $195,000 | $245,000 | $54,000 | $78,000 |
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 | 1,459 | $582,845,000 | $399,000 | $40,005,000 | $194,000 | $4,520,000 |
| Application Withdrawn By Applicant | 305 | $144,715,000 | $474,000 | $28,005,000 | $180,000 | $1,575,000 |
| Application Denied By Financial Institution | 71 | $28,765,000 | $405,000 | $2,705,000 | $112,000 | $690,000 |
| Application Approved But Not Accepted | 28 | $8,300,000 | $296,000 | $785,000 | $195,000 | $932,000 |
| File Closed For Incompleteness | 21 | $7,655,000 | $364,000 | $795,000 | $203,000 | $1,735,000 |
| Loan Purchased By The Institution | 1 | $155,000 | $155,000 | $155,000 | $107,000 | $107,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 1,814 | $743,670,000 | $409,000 | $40,005,000 | $191,000 | $4,520,000 |
| Debt-To-Income Ratio | 33 | $17,545,000 | $531,000 | $2,705,000 | $80,000 | $319,000 |
| Credit History | 22 | $7,240,000 | $329,000 | $625,000 | $138,000 | $690,000 |
| Other | 8 | $2,410,000 | $301,000 | $475,000 | $140,000 | $343,000 |
| Collateral | 5 | $1,115,000 | $223,000 | $305,000 | $194,000 | $426,000 |
| Unverifiable Information | 1 | $105,000 | $105,000 | $105,000 | $0 | $0 |
| Employment History | 1 | $55,000 | $55,000 | $55,000 | $92,000 | $92,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $295,000 | $295,000 | $295,000 | $80,000 | $80,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Franklin Synergy Bank's 2019 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 Franklin Synergy Bank'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 Tennessee, download the full spreadsheet
with aggregated HMDA statistics today.
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