Lakestone Bank & Trust Mortgage Lending & HMDA Data, 2012
In 2012, Lakestone Bank & Trust of Lapeer, MI reported 221 mortgage applications totaling $23.7 million, up 12% from 2011. The average application was for $107,416, and applicants reported an average income of $61,714. 83% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (199), Flint, MI (9) 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 | 221 |
| Total Mortgage Loan Application Amount | $23,739,000 |
| Average Mortgage Loan Application Amount | $107,416 |
| Highest Mortgage Loan Application Amount | $615,000 |
| Average Applicant Income | $61,714 |
| Highest Applicant Income | $608,000 |
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(HMDA) records Lakestone Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 186 | $ 19,322,000 | $ 103,881 | $ 56,000 |
| Genesee, Michigan | 9 | $ 787,000 | $ 87,444 | $ 53,000 |
| Oakland, Michigan | 8 | $ 1,148,000 | $ 143,500 | $ 159,000 |
| Macomb, Michigan | 3 | $ 275,000 | $ 91,666 | $ 48,000 |
| Maricopa, Arizona | 2 | $ 439,000 | $ 219,500 | $ 25,000 |
| St. Clair, Michigan | 2 | $ 418,000 | $ 209,000 | $ 164,000 |
| Broward, Florida | 1 | $ 245,000 | $ 245,000 | $ 138,000 |
| Barry, Michigan | 1 | $ 90,000 | $ 90,000 | $ 145,000 |
| Emmet, Michigan | 1 | $ 276,000 | $ 276,000 | $ 0 |
| Ingham, Michigan | 1 | $ 82,000 | $ 82,000 | $ 119,000 |
| Iosco, Michigan | 1 | $ 52,000 | $ 52,000 | $ 60,000 |
| Oceana, Michigan | 1 | $ 80,000 | $ 80,000 | $ 144,000 |
| Roscommon, Michigan | 1 | $ 106,000 | $ 106,000 | $ 68,000 |
| Sanilac, Michigan | 1 | $ 110,000 | $ 110,000 | $ 109,000 |
| Shiawassee, Michigan | 1 | $ 67,000 | $ 67,000 | $ 39,000 |
| Tuscola, Michigan | 1 | $ 79,000 | $ 79,000 | $ 66,000 |
| Wayne, Michigan | 1 | $ 163,000 | $ 163,000 | $ 0 |
Mortgage Loan Application Detail Totals for Lakestone Bank & Trust in 2012
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 | 175 | $19,888,000 | $113,000 | $615,000 | $62,000 | $608,000 |
| Home Purchase | 39 | $3,511,000 | $90,000 | $400,000 | $62,000 | $278,000 |
| Home Improvement | 7 | $340,000 | $48,000 | $120,000 | $53,000 | $99,000 |
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 | 209 | $22,615,000 | $108,000 | $615,000 | $64,000 | $608,000 |
| Not applicable | 8 | $878,000 | $109,000 | $276,000 | $12,000 | $99,000 |
| Hispanic | 3 | $179,000 | $59,000 | $104,000 | $43,000 | $68,000 |
| Asian | 1 | $67,000 | $67,000 | $67,000 | $31,000 | $31,000 |
| 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) | 220 | $23,676,000 | $107,000 | $615,000 | $62,000 | $608,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $63,000 | $63,000 | $63,000 | $27,000 | $27,000 |
| 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 | 184 | $19,997,000 | $108,000 | $615,000 | $63,000 | $608,000 |
| Application Denied By Financial Institution | 24 | $2,197,000 | $91,000 | $202,000 | $55,000 | $143,000 |
| Application Withdrawn By Applicant | 10 | $1,065,000 | $106,000 | $200,000 | $62,000 | $103,000 |
| Application Approved But Not Accepted | 2 | $290,000 | $145,000 | $163,000 | $26,000 | $53,000 |
| File Closed For Incompleteness | 1 | $190,000 | $190,000 | $190,000 | $60,000 | $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 |
|---|---|---|---|---|---|---|
| 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 2012 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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