Mac-Clair Mortgage Corporation Mortgage Lending & HMDA Data, 2003
In 2003, Mac-Clair Mortgage Corporation of Burton, MI reported 3,415 mortgage applications totaling $367.2 million. The average application was for $107,513, and applicants reported an average income of $47,454. 58% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Flint, MI (793), Detroit, MI (586) and Dayton-Springfield, OH (199) (applications in parentheses).
| Mortgage Company & Address | Mac-Clair Mortgage Corporation 4255 S Saginaw St Burton, MI 48529 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 3,415 |
| Total Mortgage Loan Application Amount | $367,157,000 |
| Average Mortgage Loan Application Amount | $107,513 |
| Highest Mortgage Loan Application Amount | $572,000 |
| Average Applicant Income | $47,454 |
| Highest Applicant Income | $3,900,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mac-Clair Mortgage Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mac-Clair Mortgage Corporation in 2003
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 |
|---|---|---|---|---|---|---|
| Home Purchase (one-to-four family) | 1,918 | $196,157,000 | $111,642 | $311,000 | $42,785 | $3,900,000 |
| Refinancing (home purchase or home improvement, one-to-four family) | 1,497 | $171,000,000 | $119,900 | $572,000 | $59,400 | $744,000 |
| Home Improvement (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
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 |
|---|---|---|---|---|---|---|
| American Indian or Alaskan Native | 2,123 | $228,824,000 | $115,272 | $572,000 | $51,636 | $744,000 |
| White | 683 | $75,243,000 | $115,600 | $415,000 | $47,700 | $225,000 |
| Information not provided by applicant in mail or telephone application | 264 | $29,227,000 | $110,545 | $525,000 | $41,818 | $3,900,000 |
| Hispanic | 198 | $19,211,000 | $104,000 | $234,000 | $45,666 | $180,000 |
| Asian or Pacific Islander | 79 | $7,480,000 | $101,600 | $196,000 | $45,800 | $117,000 |
| Black | 60 | $5,857,000 | $104,400 | $320,000 | $44,200 | $129,000 |
| Not applicable | 5 | $848,000 | $161,666 | $252,000 | $64,333 | $103,000 |
| Other | 3 | $467,000 | $154,500 | $212,000 | $54,000 | $63,000 |
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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 1,649 | $161,568,000 | $106,083 | $234,000 | $42,000 | $3,900,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,539 | $180,522,000 | $120,800 | $572,000 | $55,200 | $744,000 |
| VA-guaranteed (Veterans Administration) | 174 | $20,173,000 | $111,250 | $208,000 | $32,625 | $102,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 53 | $4,894,000 | $93,000 | $164,000 | $40,500 | $66,000 |
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 | 1,982 | $218,814,000 | $120,300 | $572,000 | $51,200 | $468,000 |
| Application Approved But Not Accepted | 611 | $64,297,000 | $112,153 | $294,000 | $45,615 | $228,000 |
| Application Withdrawn By Applicant | 405 | $40,913,000 | $111,111 | $570,000 | $59,111 | $3,900,000 |
| Application Denied By Financial Institution | 402 | $41,639,000 | $107,555 | $525,000 | $39,111 | $225,000 |
| File Closed For Incompleteness | 15 | $1,494,000 | $94,600 | $185,000 | $29,600 | $82,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Credit History | 110 | $11,878,000 | $115,800 | $269,000 | $45,600 | $123,000 |
| Other | 95 | $9,484,000 | $92,166 | $215,000 | $35,333 | $90,000 |
| Debt-To-Income Ratio | 63 | $6,425,000 | $115,000 | $314,000 | $42,166 | $203,000 |
| Employment History | 23 | $1,880,000 | $80,200 | $153,000 | $29,800 | $71,000 |
| Collateral | 7 | $608,000 | $80,750 | $165,000 | $37,750 | $74,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $169,000 | $84,000 | $125,000 | $39,000 | $58,000 |
| Credit Application Incomplete | 1 | $58,000 | $58,000 | $58,000 | $111,000 | $111,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mac-Clair Mortgage Corporation's 2003 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 Mac-Clair Mortgage Corporation'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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