Horizon Bank, N.A. Mortgage Lending & HMDA Data, 2009
In 2009, Horizon Bank, N.A. of Michigan City, IN reported 3,781 mortgage applications totaling $553.0 million, up 127% from 2008. The average application was for $146,252, and applicants reported an average income of $83,431. 64% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Michigan City-La Porte, IN (923), Gary, IN (760) and Niles-Benton Harbor, MI (614) (applications in parentheses).
| Mortgage Company & Address | Horizon Bank, N.A. 515 Franklin St Michigan City, IN 46360 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 3,781 |
| Total Mortgage Loan Application Amount | $552,982,000 |
| Average Mortgage Loan Application Amount | $146,252 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $83,431 |
| Highest Applicant Income | $1,991,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Horizon Bank, N.A. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Horizon Bank, N.A. in 2009
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 | 2,079 | $328,436,000 | $157,000 | $1,315,000 | $90,000 | $1,864,000 |
| Home Purchase | 1,573 | $222,285,000 | $141,000 | $2,000,000 | $77,000 | $1,991,000 |
| Home Improvement | 129 | $2,261,000 | $17,000 | $100,000 | $56,000 | $229,000 |
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 | 3,401 | $509,226,000 | $149,000 | $2,000,000 | $85,000 | $1,991,000 |
| Black or African American | 147 | $16,239,000 | $110,000 | $417,000 | $57,000 | $677,000 |
| Hispanic | 122 | $13,552,000 | $111,000 | $539,000 | $55,000 | $306,000 |
| Asian | 47 | $8,204,000 | $174,000 | $428,000 | $145,000 | $1,440,000 |
| Not Provided | 38 | $3,354,000 | $88,000 | $417,000 | $67,000 | $317,000 |
| Not applicable | 15 | $1,502,000 | $100,000 | $217,000 | $0 | $0 |
| American Indian or Alaskan Native | 6 | $387,000 | $64,000 | $100,000 | $57,000 | $142,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $518,000 | $103,000 | $135,000 | $56,000 | $110,000 |
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) | 2,576 | $404,317,000 | $156,000 | $2,000,000 | $99,000 | $1,991,000 |
| FHA-insured (Federal Housing Administration) | 1,142 | $140,521,000 | $123,000 | $410,000 | $51,000 | $654,000 |
| VA-guaranteed (Veterans Administration) | 61 | $7,957,000 | $130,000 | $380,000 | $55,000 | $158,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $187,000 | $93,000 | $102,000 | $34,000 | $37,000 |
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 | 2,422 | $362,697,000 | $149,000 | $1,300,000 | $90,000 | $1,991,000 |
| Application Denied By Financial Institution | 430 | $59,270,000 | $137,000 | $1,000,000 | $67,000 | $495,000 |
| Application Approved But Not Accepted | 376 | $60,941,000 | $162,000 | $2,000,000 | $92,000 | $1,864,000 |
| Preapproval Denied by Financial Institution | 301 | $31,287,000 | $103,000 | $417,000 | $43,000 | $654,000 |
| Preapproval Approved but not Accepted | 208 | $31,892,000 | $153,000 | $1,440,000 | $73,000 | $1,198,000 |
| File Closed For Incompleteness | 44 | $6,895,000 | $156,000 | $528,000 | $121,000 | $1,440,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 396 | $38,918,000 | $98,000 | $512,000 | $49,000 | $654,000 |
| Debt-To-Income Ratio | 150 | $23,152,000 | $154,000 | $894,000 | $51,000 | $412,000 |
| Collateral | 91 | $13,908,000 | $152,000 | $498,000 | $85,000 | $326,000 |
| Other | 33 | $5,097,000 | $154,000 | $1,000,000 | $84,000 | $495,000 |
| Mortgage Insurance Denied | 23 | $3,623,000 | $157,000 | $417,000 | $63,000 | $145,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 21 | $3,250,000 | $154,000 | $417,000 | $63,000 | $180,000 |
| Credit Application Incomplete | 10 | $1,842,000 | $184,000 | $417,000 | $74,000 | $255,000 |
| Employment History | 5 | $494,000 | $98,000 | $150,000 | $53,000 | $85,000 |
| Unverifiable Information | 2 | $273,000 | $136,000 | $252,000 | $62,000 | $124,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Horizon Bank, N.A.'s 2009 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 Horizon Bank, N.A.'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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