Lakestone Bank & Trust Mortgage Lending & HMDA Data, 2010
In 2010, Lakestone Bank & Trust of Lapeer, MI reported 234 mortgage applications totaling $30.8 million, down 32% from 2009. The average application was for $131,803, and applicants reported an average income of $49,136. 88% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (202), Flint, MI (17) and Phoenix-Mesa-Glendale, AZ (2) (applications in parentheses).
| Mortgage Company & Address | Lakestone Bank & Trust 83 W Nepessing St Lapeer, MI 48446 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 234 |
| Total Mortgage Loan Application Amount | $30,842,000 |
| Average Mortgage Loan Application Amount | $131,803 |
| Highest Mortgage Loan Application Amount | $1,360,000 |
| Average Applicant Income | $49,136 |
| Highest Applicant Income | $516,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Lakestone Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Lapeer, Michigan | 163 | $ 18,912,000 | $ 116,024 | $ 48,000 |
| Oakland, Michigan | 29 | $ 7,189,000 | $ 247,896 | $ 38,000 |
| Genesee, Michigan | 17 | $ 2,249,000 | $ 132,294 | $ 70,000 |
| St. Clair, Michigan | 9 | $ 772,000 | $ 85,777 | $ 54,000 |
| Tuscola, Michigan | 4 | $ 212,000 | $ 53,000 | $ 61,000 |
| Maricopa, Arizona | 2 | $ 590,000 | $ 295,000 | $ 0 |
| Hendry, Florida | 1 | $ 23,000 | $ 23,000 | $ 68,000 |
| Barry, Michigan | 1 | $ 90,000 | $ 90,000 | $ 177,000 |
| Emmet, Michigan | 1 | $ 81,000 | $ 81,000 | $ 0 |
| Huron, Michigan | 1 | $ 29,000 | $ 29,000 | $ 45,000 |
| Lake, Michigan | 1 | $ 37,000 | $ 37,000 | $ 53,000 |
| Macomb, Michigan | 1 | $ 116,000 | $ 116,000 | $ 26,000 |
| Midland, Michigan | 1 | $ 85,000 | $ 85,000 | $ 0 |
| Ottawa, Michigan | 1 | $ 220,000 | $ 220,000 | $ 140,000 |
| Sanilac, Michigan | 1 | $ 103,000 | $ 103,000 | $ 42,000 |
| Shiawassee, Michigan | 1 | $ 134,000 | $ 134,000 | $ 49,000 |
Mortgage Loan Application Detail Totals for Lakestone Bank & Trust in 2010
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 | 169 | $25,191,000 | $149,000 | $1,360,000 | $47,000 | $516,000 |
| Home Purchase | 55 | $4,638,000 | $84,000 | $370,000 | $51,000 | $479,000 |
| Home Improvement | 10 | $1,013,000 | $101,000 | $380,000 | $75,000 | $185,000 |
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 | 205 | $24,341,000 | $118,000 | $700,000 | $55,000 | $516,000 |
| Not applicable | 26 | $6,152,000 | $236,000 | $1,360,000 | $0 | $0 |
| Hispanic | 2 | $76,000 | $38,000 | $48,000 | $12,000 | $25,000 |
| Asian | 1 | $273,000 | $273,000 | $273,000 | $170,000 | $170,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 232 | $30,712,000 | $132,000 | $1,360,000 | $49,000 | $516,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $130,000 | $65,000 | $74,000 | $29,000 | $42,000 |
| 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 | 206 | $27,365,000 | $132,000 | $1,360,000 | $50,000 | $516,000 |
| Application Denied By Financial Institution | 19 | $2,341,000 | $123,000 | $539,000 | $34,000 | $102,000 |
| Application Withdrawn By Applicant | 6 | $745,000 | $124,000 | $247,000 | $71,000 | $102,000 |
| Application Approved But Not Accepted | 3 | $391,000 | $130,000 | $258,000 | $30,000 | $46,000 |
| 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 Lakestone Bank & Trust's 2010 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 Lakestone Bank & Trust'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.
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