Lakestone Bank & Trust Mortgage Lending & HMDA Data, 2013
In 2013, Lakestone Bank & Trust of Lapeer, MI reported 183 mortgage applications totaling $23.4 million, down 17% from 2012. The average application was for $127,978, and applicants reported an average income of $73,032. 80% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (157), Flint, MI (11) and Bay City, MI (1) (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 | 183 |
| Total Mortgage Loan Application Amount | $23,420,000 |
| Average Mortgage Loan Application Amount | $127,978 |
| Highest Mortgage Loan Application Amount | $2,381,000 |
| Average Applicant Income | $73,032 |
| Highest Applicant Income | $424,000 |
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(HMDA) records Lakestone Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Lakestone Bank & Trust in 2013
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 | 129 | $18,007,000 | $139,000 | $2,381,000 | $73,000 | $424,000 |
| Home Purchase | 46 | $4,652,000 | $101,000 | $340,000 | $70,000 | $305,000 |
| Home Improvement | 8 | $761,000 | $95,000 | $205,000 | $91,000 | $247,000 |
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 | 169 | $19,193,000 | $113,000 | $410,000 | $75,000 | $424,000 |
| Not applicable | 5 | $3,328,000 | $665,000 | $2,381,000 | $14,000 | $74,000 |
| Not Provided | 4 | $291,000 | $72,000 | $195,000 | $91,000 | $178,000 |
| Hispanic | 4 | $455,000 | $113,000 | $162,000 | $42,000 | $74,000 |
| American Indian or Alaskan Native | 1 | $153,000 | $153,000 | $153,000 | $58,000 | $58,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 182 | $23,300,000 | $128,000 | $2,381,000 | $73,000 | $424,000 |
| FHA-insured (Federal Housing Administration) | 1 | $120,000 | $120,000 | $120,000 | $60,000 | $60,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans 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 | 147 | $19,140,000 | $130,000 | $2,381,000 | $72,000 | $424,000 |
| Application Denied By Financial Institution | 23 | $2,714,000 | $118,000 | $340,000 | $56,000 | $229,000 |
| Application Withdrawn By Applicant | 12 | $1,532,000 | $127,000 | $237,000 | $113,000 | $394,000 |
| Application Approved But Not Accepted | 1 | $34,000 | $34,000 | $34,000 | $43,000 | $43,000 |
| 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 2013 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.
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