Ib&T Mortgage Company Mortgage Lending & HMDA Data, 2007
In 2007, Ib&T Mortgage Company of Mount Pleasant, MI reported 634 mortgage applications totaling $76.0 million, up 2% from 2006. The average application was for $119,884, and applicants reported an average income of $77,216. 75% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Grand Rapids-Wyoming, MI (6), Saginaw-Saginaw Township North, MI (2) and Ann Arbor, MI (1) (applications in parentheses).
| Mortgage Company & Address | Ib&T Mortgage Company 139 East Broadway Mount Pleasant, MI 48858 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 634 |
| Total Mortgage Loan Application Amount | $76,007,000 |
| Average Mortgage Loan Application Amount | $119,884 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $77,216 |
| Highest Applicant Income | $1,133,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Ib&T Mortgage Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Ib&T Mortgage Company in 2007
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 | 423 | $51,406,000 | $121,000 | $880,000 | $73,000 | $1,133,000 |
| Home Purchase | 199 | $23,454,000 | $117,000 | $1,000,000 | $88,000 | $890,000 |
| Home Improvement | 12 | $1,147,000 | $95,000 | $225,000 | $47,000 | $100,000 |
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 | 593 | $71,233,000 | $120,000 | $1,000,000 | $77,000 | $1,133,000 |
| Not Provided | 18 | $1,459,000 | $81,000 | $176,000 | $65,000 | $120,000 |
| Hispanic | 12 | $2,091,000 | $174,000 | $735,000 | $94,000 | $317,000 |
| American Indian or Alaskan Native | 7 | $798,000 | $114,000 | $176,000 | $73,000 | $123,000 |
| Black or African American | 3 | $322,000 | $107,000 | $170,000 | $57,000 | $109,000 |
| Asian | 1 | $104,000 | $104,000 | $104,000 | $53,000 | $53,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 629 | $75,668,000 | $120,000 | $1,000,000 | $77,000 | $1,133,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $339,000 | $67,000 | $115,000 | $31,000 | $41,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 476 | $58,929,000 | $123,000 | $1,000,000 | $84,000 | $1,133,000 |
| Application Denied By Financial Institution | 89 | $9,265,000 | $104,000 | $417,000 | $51,000 | $250,000 |
| Application Approved But Not Accepted | 59 | $6,771,000 | $114,000 | $417,000 | $63,000 | $150,000 |
| Application Withdrawn By Applicant | 10 | $1,042,000 | $104,000 | $225,000 | $50,000 | $101,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Ib&T Mortgage Company's 2007 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 Ib&T Mortgage 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.
For a list of all lenders in Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About