Genoa Savings & Loan Company Mortgage Lending & HMDA Data, 2004
In 2004, Genoa Savings & Loan Company of Genoa, OH reported 313 mortgage applications totaling $43.1 million, down 68% from 2003. The average application was for $137,683, and applicants reported an average income of $60,261. 67% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Toledo, OH (260) and Monroe, MI (7).
| Mortgage Company & Address | Genoa Savings & Loan Company 622 Main Street Genoa, OH 43430 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 313 |
| Total Mortgage Loan Application Amount | $43,095,000 |
| Average Mortgage Loan Application Amount | $137,683 |
| Highest Mortgage Loan Application Amount | $500,000 |
| Average Applicant Income | $60,261 |
| Highest Applicant Income | $334,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Genoa Savings & Loan Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Genoa Savings & Loan Company in 2004
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 | 161 | $24,861,000 | $132,750 | $430,000 | $64,750 | $334,000 |
| Refinancing | 152 | $18,234,000 | $150,500 | $500,000 | $72,000 | $199,000 |
| Home Improvement | 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 | 297 | $40,876,000 | $126,000 | $500,000 | $64,750 | $334,000 |
| Hispanic | 8 | $901,000 | $126,000 | $182,000 | $43,500 | $50,000 |
| Asian | 4 | $756,000 | $189,000 | $255,000 | $84,000 | $110,000 |
| Not Provided | 3 | $405,000 | $126,000 | $175,000 | $46,000 | $108,000 |
| Black or African American | 1 | $157,000 | $157,000 | $157,000 | $71,000 | $71,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 313 | $43,095,000 | $126,250 | $500,000 | $63,750 | $334,000 |
| 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 | 209 | $28,786,000 | $127,000 | $400,000 | $69,333 | $334,000 |
| Application Denied By Financial Institution | 38 | $5,747,000 | $136,000 | $500,000 | $50,500 | $119,000 |
| Application Approved But Not Accepted | 28 | $3,872,000 | $166,000 | $330,000 | $70,500 | $120,000 |
| Preapproval Approved but not Accepted | 17 | $2,225,000 | $130,000 | $250,000 | $58,000 | $110,000 |
| Application Withdrawn By Applicant | 12 | $1,604,000 | $109,500 | $242,000 | $64,500 | $127,000 |
| File Closed For Incompleteness | 5 | $436,000 | $87,000 | $115,000 | $38,000 | $58,000 |
| Preapproval Denied by Financial Institution | 4 | $425,000 | $106,000 | $150,000 | $42,000 | $81,000 |
| Loan Purchased By The 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 | 22 | $2,759,000 | $127,500 | $225,000 | $48,000 | $108,000 |
| Debt-To-Income Ratio | 7 | $1,694,000 | $193,500 | $500,000 | $31,000 | $119,000 |
| Collateral | 4 | $498,000 | $124,000 | $176,000 | $56,000 | $77,000 |
| Other | 4 | $337,000 | $84,000 | $130,000 | $68,500 | $81,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $722,000 | $240,000 | $333,000 | $85,000 | $102,000 |
| Credit Application Incomplete | 2 | $162,000 | $81,000 | $131,000 | $44,000 | $51,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Genoa Savings & Loan Company's 2004 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 Genoa Savings & Loan Company'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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