Mac-Clair Mortgage Corporation Mortgage Lending & HMDA Data, 2005
In 2005, Mac-Clair Mortgage Corporation of Burton, MI reported 1,887 mortgage applications totaling $198.1 million, up 13% from 2004. The average application was for $104,967, and applicants reported an average income of $52,739. 61% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Flint, MI (567), Warren-Farmington Hills-Troy, MI (158) and Springfield, MO (82) (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 | 1,887 |
| Total Mortgage Loan Application Amount | $198,074,000 |
| Average Mortgage Loan Application Amount | $104,967 |
| Highest Mortgage Loan Application Amount | $1,280,000 |
| Average Applicant Income | $52,739 |
| Highest Applicant Income | $620,000 |
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records Mac-Clair Mortgage Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2005
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 | 1,401 | $139,873,000 | $134,000 | $1,280,000 | $73,222 | $620,000 |
| Refinancing | 466 | $57,433,000 | $132,333 | $1,000,000 | $65,083 | $600,000 |
| Home Improvement | 20 | $768,000 | $39,250 | $62,000 | $78,500 | $162,000 |
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 | 1,522 | $160,742,000 | $135,800 | $1,280,000 | $72,000 | $620,000 |
| Black or African American | 136 | $12,957,000 | $154,000 | $738,000 | $72,500 | $312,000 |
| Not Provided | 131 | $15,015,000 | $119,857 | $584,000 | $58,142 | $159,000 |
| Hispanic | 75 | $7,310,000 | $111,285 | $240,000 | $47,571 | $118,000 |
| Asian | 12 | $1,110,000 | $89,000 | $195,000 | $68,600 | $204,000 |
| American Indian or Alaskan Native | 8 | $743,000 | $79,000 | $228,000 | $81,666 | $128,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $197,000 | $65,000 | $99,000 | $27,000 | $29,000 |
| Not applicable | 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) | 1,141 | $124,206,000 | $128,000 | $1,280,000 | $69,750 | $620,000 |
| FHA-insured (Federal Housing Administration) | 537 | $53,308,000 | $115,333 | $228,000 | $37,833 | $138,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 169 | $16,098,000 | $104,000 | $199,000 | $36,000 | $65,000 |
| VA-guaranteed (Veterans Administration) | 40 | $4,462,000 | $118,200 | $195,000 | $45,800 | $84,000 |
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 | 1,156 | $119,857,000 | $127,200 | $893,000 | $62,000 | $312,000 |
| Application Withdrawn By Applicant | 584 | $61,749,000 | $130,400 | $1,000,000 | $69,800 | $620,000 |
| Application Denied By Financial Institution | 146 | $16,362,000 | $132,571 | $1,280,000 | $63,428 | $456,000 |
| Preapproval Denied by Financial Institution | 1 | $106,000 | $106,000 | $106,000 | $30,000 | $30,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Other | 97 | $10,334,000 | $97,428 | $900,000 | $49,142 | $416,000 |
| Credit History | 22 | $2,438,000 | $170,333 | $309,000 | $84,000 | $180,000 |
| Debt-To-Income Ratio | 13 | $1,246,000 | $90,333 | $157,000 | $26,000 | $51,000 |
| Collateral | 8 | $2,015,000 | $492,333 | $1,280,000 | $205,333 | $456,000 |
| Employment History | 6 | $378,000 | $51,500 | $100,000 | $17,500 | $33,000 |
| Unverifiable Information | 1 | $57,000 | $57,000 | $57,000 | $24,000 | $24,000 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mac-Clair Mortgage Corporation's 2005 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.
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