Lakestone Bank & Trust Mortgage Lending & HMDA Data, 2011
In 2011, Lakestone Bank & Trust of Lapeer, MI reported 198 mortgage applications totaling $32.3 million, down 15% from 2010. The average application was for $162,964, and applicants reported an average income of $68,141. 88% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (176), Flint, MI (11) and Phoenix-Mesa-Glendale, AZ (3) (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 | 198 |
| Total Mortgage Loan Application Amount | $32,267,000 |
| Average Mortgage Loan Application Amount | $162,964 |
| Highest Mortgage Loan Application Amount | $2,303,000 |
| Average Applicant Income | $68,141 |
| Highest Applicant Income | $2,050,000 |
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(HMDA) records Lakestone Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Warren-Troy-Farmington Hills, MI | 176 | $ 26,792,000 | $ 152,227 | $ 67,000 |
| Flint, MI | 11 | $ 812,000 | $ 73,818 | $ 36,000 |
| Phoenix-Mesa-Glendale, AZ | 3 | $ 1,017,000 | $ 339,000 | $ 0 |
| Detroit-Livonia-Dearborn, MI | 1 | $ 34,000 | $ 34,000 | $ 267,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 92,000 | $ 92,000 | $ 115,000 |
Mortgage Loan Application Detail Totals for Lakestone Bank & Trust in 2011
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 | 159 | $26,349,000 | $165,000 | $2,303,000 | $64,000 | $2,050,000 |
| Home Purchase | 34 | $5,504,000 | $161,000 | $880,000 | $89,000 | $630,000 |
| Home Improvement | 5 | $414,000 | $82,000 | $135,000 | $58,000 | $80,000 |
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 | 177 | $21,338,000 | $120,000 | $880,000 | $75,000 | $2,050,000 |
| Not applicable | 18 | $8,214,000 | $456,000 | $2,303,000 | $0 | $0 |
| Asian | 1 | $2,251,000 | $2,251,000 | $2,251,000 | $27,000 | $27,000 |
| Black or African American | 1 | $456,000 | $456,000 | $456,000 | $167,000 | $167,000 |
| Hispanic | 1 | $8,000 | $8,000 | $8,000 | $21,000 | $21,000 |
| 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) | 196 | $32,104,000 | $163,000 | $2,303,000 | $68,000 | $2,050,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $163,000 | $81,000 | $113,000 | $37,000 | $46,000 |
| 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 | 175 | $29,768,000 | $170,000 | $2,303,000 | $67,000 | $2,050,000 |
| Application Denied By Financial Institution | 11 | $1,227,000 | $111,000 | $289,000 | $78,000 | $277,000 |
| Application Withdrawn By Applicant | 10 | $1,029,000 | $102,000 | $221,000 | $68,000 | $132,000 |
| Application Approved But Not Accepted | 2 | $243,000 | $121,000 | $154,000 | $81,000 | $100,000 |
| 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 2011 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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