Genoa Savings & Loan Company Mortgage Lending & HMDA Data, 2003
In 2003, Genoa Savings & Loan Company of Genoa, OH reported 992 mortgage applications totaling $107.6 million. The average application was for $108,516, and applicants reported an average income of $62,937. 72% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Toledo, OH (611), Detroit, MI (15) and Ann Arbor, MI (2) (applications in parentheses).
| 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 | 992 |
| Total Mortgage Loan Application Amount | $107,648,000 |
| Average Mortgage Loan Application Amount | $108,516 |
| Highest Mortgage Loan Application Amount | $420,000 |
| Average Applicant Income | $62,937 |
| Highest Applicant Income | $660,000 |
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records Genoa Savings & Loan Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Lucas, Ohio | 402 | $ 41,890,000 | $ 104,203 | $ 64,000 |
| Ottawa, Ohio | 282 | $ 31,030,000 | $ 110,035 | $ 61,000 |
| Wood, Ohio | 201 | $ 23,005,000 | $ 114,452 | $ 62,000 |
| Sandusky, Ohio | 53 | $ 5,411,000 | $ 102,094 | $ 58,000 |
| Monroe, Michigan | 16 | $ 2,288,000 | $ 143,000 | $ 85,000 |
| Seneca, Ohio | 12 | $ 1,162,000 | $ 96,833 | $ 47,000 |
| Fulton, Ohio | 8 | $ 715,000 | $ 89,375 | $ 55,000 |
| Lenawee, Michigan | 3 | $ 415,000 | $ 138,333 | $ 137,000 |
| Erie, Ohio | 3 | $ 348,000 | $ 116,000 | $ 110,000 |
| Antrim, Michigan | 2 | $ 177,000 | $ 88,500 | $ 72,000 |
| Jackson, Michigan | 2 | $ 222,000 | $ 111,000 | $ 547,000 |
| Wyandot, Ohio | 2 | $ 215,000 | $ 107,500 | $ 55,000 |
| Allegan, Michigan | 1 | $ 194,000 | $ 194,000 | $ 57,000 |
| Hillsdale, Michigan | 1 | $ 176,000 | $ 176,000 | $ 200,000 |
| Crawford, Ohio | 1 | $ 132,000 | $ 132,000 | $ 68,000 |
| Hancock, Ohio | 1 | $ 79,000 | $ 79,000 | $ 64,000 |
| Henry, Ohio | 1 | $ 104,000 | $ 104,000 | $ 83,000 |
| Huron, Ohio | 1 | $ 85,000 | $ 85,000 | $ 48,000 |
Mortgage Loan Application Detail Totals for Genoa Savings & Loan Company in 2003
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 (home purchase or home improvement, one-to-four family) | 865 | $94,867,000 | $128,000 | $420,000 | $93,000 | $434,000 |
| Home Purchase (one-to-four family) | 126 | $12,570,000 | $103,000 | $300,000 | $144,500 | $660,000 |
| Home Improvement (one-to-four family) | 1 | $211,000 | $211,000 | $211,000 | $22,000 | $22,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 958 | $104,085,000 | $122,500 | $420,000 | $108,500 | $660,000 |
| Hispanic | 16 | $1,442,000 | $90,000 | $233,000 | $53,000 | $208,000 |
| Information not provided by applicant in mail or telephone application | 8 | $567,000 | $70,000 | $179,000 | $66,000 | $200,000 |
| Other | 5 | $873,000 | $174,000 | $240,000 | $64,000 | $98,000 |
| Black | 3 | $318,000 | $106,000 | $213,000 | $60,000 | $82,000 |
| Asian or Pacific Islander | 2 | $363,000 | $181,000 | $218,000 | $110,000 | $150,000 |
| American Indian or Alaskan Native | 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) | 992 | $107,648,000 | $122,500 | $420,000 | $108,500 | $660,000 |
| 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 | 713 | $77,083,000 | $131,500 | $360,000 | $162,500 | $660,000 |
| Application Denied By Financial Institution | 131 | $12,965,000 | $92,500 | $420,000 | $52,500 | $200,000 |
| Application Withdrawn By Applicant | 79 | $9,744,000 | $111,000 | $300,000 | $79,500 | $325,000 |
| Application Approved But Not Accepted | 63 | $7,236,000 | $126,500 | $240,000 | $83,000 | $176,000 |
| File Closed For Incompleteness | 6 | $620,000 | $139,500 | $225,000 | $70,500 | $162,000 |
| 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 | 76 | $6,898,000 | $87,000 | $420,000 | $52,500 | $192,000 |
| Debt-To-Income Ratio | 31 | $3,485,000 | $99,000 | $262,000 | $40,000 | $200,000 |
| Collateral | 11 | $1,317,000 | $119,000 | $200,000 | $58,000 | $120,000 |
| Other | 7 | $717,000 | $102,000 | $172,000 | $45,000 | $79,000 |
| Credit Application Incomplete | 3 | $343,000 | $114,000 | $208,000 | $46,000 | $100,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $135,000 | $67,500 | $93,000 | $119,000 | $161,000 |
| Employment History | 1 | $70,000 | $70,000 | $70,000 | $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 2003 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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