Lakestone Bank & Trust Mortgage Lending & HMDA Data, 2017
In 2017, Lakestone Bank & Trust of Lapeer, MI reported 249 mortgage applications totaling $36.9 million, up 37% from 2016. The average application was for $148,144, and applicants reported an average income of $84,212. 76% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (204), Flint, MI (14) and Saginaw, 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 | 249 |
| Total Mortgage Loan Application Amount | $36,888,000 |
| Average Mortgage Loan Application Amount | $148,144 |
| Highest Mortgage Loan Application Amount | $1,783,000 |
| Average Applicant Income | $84,212 |
| Highest Applicant Income | $1,387,000 |
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(HMDA) records Lakestone Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2017
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 | 123 | $19,026,000 | $154,000 | $1,783,000 | $77,000 | $808,000 |
| Home Purchase | 110 | $15,570,000 | $141,000 | $700,000 | $91,000 | $1,387,000 |
| Home Improvement | 16 | $2,292,000 | $143,000 | $424,000 | $93,000 | $525,000 |
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 | 235 | $34,255,000 | $145,000 | $1,783,000 | $87,000 | $1,387,000 |
| Not applicable | 7 | $1,883,000 | $269,000 | $700,000 | $0 | $0 |
| Not Provided | 3 | $423,000 | $141,000 | $250,000 | $87,000 | $151,000 |
| Hispanic | 3 | $179,000 | $59,000 | $75,000 | $68,000 | $157,000 |
| Asian | 1 | $148,000 | $148,000 | $148,000 | $36,000 | $36,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 249 | $36,888,000 | $148,000 | $1,783,000 | $84,000 | $1,387,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 190 | $29,346,000 | $154,000 | $1,783,000 | $91,000 | $1,387,000 |
| Application Denied By Financial Institution | 44 | $5,698,000 | $129,000 | $424,000 | $54,000 | $192,000 |
| Application Withdrawn By Applicant | 8 | $851,000 | $106,000 | $200,000 | $81,000 | $168,000 |
| Application Approved But Not Accepted | 7 | $993,000 | $141,000 | $304,000 | $83,000 | $132,000 |
| 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 2017 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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with aggregated HMDA statistics today.
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