Great Western Bank Mortgage Lending & HMDA Data, 2022
In 2022, Great Western Bank of Sioux Falls, SD reported 249 mortgage applications totaling $47.0 million, down 94% from 2021. The average application was for $188,935, and applicants reported an average income of $109,634. 61% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Sioux Falls, SD (36), Omaha-Council Bluffs, NE-IA (19) and Lincoln, NE (12) (applications in parentheses).
| Mortgage Company & Address | Great Western Bank 225 S Main Ave Sioux Falls, SD 57104 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2022 2021 2020 2019 2018 2017 |
| Total Number of Mortgage Applications | 249 |
| Total Mortgage Loan Application Amount | $47,045,000 |
| Average Mortgage Loan Application Amount | $188,935 |
| Highest Mortgage Loan Application Amount | $2,775,000 |
| Average Applicant Income | $109,634 |
| Highest Applicant Income | $1,192,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Great Western Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Great Western Bank in 2022
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 | 82 | $20,770,000 | $253,000 | $1,465,000 | $126,000 | $1,192,000 |
| Refinancing | 78 | $15,360,000 | $196,000 | $2,775,000 | $88,000 | $329,000 |
| Home Improvement | 42 | $4,190,000 | $99,000 | $905,000 | $118,000 | $743,000 |
| Other Purpose | 24 | $2,150,000 | $89,000 | $505,000 | $133,000 | $705,000 |
| Cash-out Refinancing | 23 | $4,575,000 | $198,000 | $1,315,000 | $85,000 | $274,000 |
| 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 | 171 | $27,655,000 | $161,000 | $1,465,000 | $117,000 | $1,192,000 |
| Not Provided | 43 | $4,735,000 | $110,000 | $375,000 | $95,000 | $326,000 |
| Not applicable | 16 | $12,320,000 | $770,000 | $2,775,000 | $0 | $0 |
| Hispanic | 10 | $780,000 | $78,000 | $155,000 | $65,000 | $138,000 |
| American Indian or Alaskan Native | 4 | $150,000 | $37,000 | $45,000 | $32,000 | $57,000 |
| Asian | 3 | $965,000 | $321,000 | $505,000 | $205,000 | $497,000 |
| Black or African American | 1 | $165,000 | $165,000 | $165,000 | $46,000 | $46,000 |
| 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) | 239 | $45,375,000 | $189,000 | $2,775,000 | $112,000 | $1,192,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $775,000 | $155,000 | $225,000 | $40,000 | $64,000 |
| FHA-insured (Federal Housing Administration) | 3 | $335,000 | $111,000 | $175,000 | $88,000 | $168,000 |
| VA-guaranteed (Veterans Administration) | 2 | $560,000 | $280,000 | $335,000 | $104,000 | $140,000 |
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 | 152 | $31,820,000 | $209,000 | $2,775,000 | $115,000 | $1,192,000 |
| Application Withdrawn By Applicant | 44 | $8,180,000 | $185,000 | $655,000 | $108,000 | $743,000 |
| Application Denied By Financial Institution | 41 | $5,905,000 | $144,000 | $1,315,000 | $85,000 | $600,000 |
| File Closed For Incompleteness | 10 | $1,000,000 | $100,000 | $225,000 | $154,000 | $705,000 |
| Application Approved But Not Accepted | 2 | $140,000 | $70,000 | $105,000 | $49,000 | $60,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 208 | $41,140,000 | $197,000 | $2,775,000 | $115,000 | $1,192,000 |
| Credit History | 21 | $1,895,000 | $90,000 | $315,000 | $70,000 | $274,000 |
| Debt-To-Income Ratio | 9 | $2,735,000 | $303,000 | $1,315,000 | $42,000 | $62,000 |
| Collateral | 6 | $490,000 | $81,000 | $175,000 | $191,000 | $600,000 |
| Other | 4 | $600,000 | $150,000 | $215,000 | $81,000 | $116,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $185,000 | $185,000 | $185,000 | $48,000 | $48,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Great Western Bank's 2022 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 Great Western 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.
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with aggregated HMDA statistics today.
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