Mackinac Savings Bank FSB Mortgage Lending & HMDA Data, 2009
In 2009, Mackinac Savings Bank FSB of Boynton Beach, FL reported 678 mortgage applications totaling $144.6 million, up 80% from 2008. The average application was for $213,237, and applicants reported an average income of $98,122. 81% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Worcester, MA (327), Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (152) and Warren-Troy-Farmington Hills, MI (22) (applications in parentheses).
| Mortgage Company & Address | Mackinac Savings Bank FSB 280 N Congress Ave Boynton Beach, FL 33426 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 | 678 |
| Total Mortgage Loan Application Amount | $144,575,000 |
| Average Mortgage Loan Application Amount | $213,237 |
| Highest Mortgage Loan Application Amount | $800,000 |
| Average Applicant Income | $98,122 |
| Highest Applicant Income | $605,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mackinac Savings Bank FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Worcester, MA | 327 | $ 65,133,000 | $ 199,183 | $ 76,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 152 | $ 36,091,000 | $ 237,440 | $ 128,000 |
| Warren-Troy-Farmington Hills, MI | 22 | $ 3,545,000 | $ 161,136 | $ 113,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 19 | $ 3,188,000 | $ 167,789 | $ 115,000 |
| Cambridge-Newton-Framingham, MA | 14 | $ 4,176,000 | $ 298,285 | $ 127,000 |
| Miami-Miami Beach-Kendall, FL | 13 | $ 2,931,000 | $ 225,461 | $ 130,000 |
| Detroit-Livonia-Dearborn, MI | 11 | $ 2,440,000 | $ 221,818 | $ 104,000 |
| Boston-Quincy, MA | 10 | $ 3,556,000 | $ 355,600 | $ 111,000 |
| Springfield, MA | 9 | $ 1,602,000 | $ 178,000 | $ 67,000 |
| Barnstable Town, MA | 8 | $ 1,579,000 | $ 197,375 | $ 124,000 |
| Cape Coral-Fort Myers, FL | 4 | $ 630,000 | $ 157,500 | $ 203,000 |
| Columbus, OH | 4 | $ 874,000 | $ 218,500 | $ 62,000 |
| Providence-New Bedford-Fall River, RI-MA | 4 | $ 740,000 | $ 185,000 | $ 80,000 |
| Tampa-St. Petersburg-Clearwater, FL | 4 | $ 800,000 | $ 200,000 | $ 112,000 |
| Tucson, AZ | 4 | $ 1,039,000 | $ 259,750 | $ 150,000 |
| Port St. Lucie, FL | 3 | $ 416,000 | $ 138,666 | $ 44,000 |
| Ann Arbor, MI | 2 | $ 379,000 | $ 189,500 | $ 290,000 |
| Houston-Sugar Land-Baytown, TX | 2 | $ 460,000 | $ 230,000 | $ 171,000 |
| Jacksonville, FL | 2 | $ 522,000 | $ 261,000 | $ 39,000 |
| New Haven-Milford, CT | 2 | $ 449,000 | $ 224,500 | $ 62,000 |
| Palm Bay-Melbourne-Titusville, FL | 2 | $ 131,000 | $ 65,500 | $ 179,000 |
| Punta Gorda, FL | 2 | $ 334,000 | $ 167,000 | $ 85,000 |
| Santa Ana-Anaheim-Irvine, CA | 2 | $ 730,000 | $ 365,000 | $ 86,000 |
| Albany, GA | 1 | $ 236,000 | $ 236,000 | $ 132,000 |
| Albany-Schenectady-Troy, NY | 1 | $ 149,000 | $ 149,000 | $ 0 |
| Albuquerque, NM | 1 | $ 236,000 | $ 236,000 | $ 79,000 |
| Asheville, NC | 1 | $ 370,000 | $ 370,000 | $ 144,000 |
| Atlanta-Sandy Springs-Marietta, GA | 1 | $ 82,000 | $ 82,000 | $ 84,000 |
| Bethesda-Frederick-Rockville, MD | 1 | $ 174,000 | $ 174,000 | $ 165,000 |
| Boulder, CO | 1 | $ 305,000 | $ 305,000 | $ 118,000 |
| Bridgeport-Stamford-Norwalk, CT | 1 | $ 368,000 | $ 368,000 | $ 0 |
| Charlotte-Gastonia-Concord, NC-SC | 1 | $ 199,000 | $ 199,000 | $ 204,000 |
| Chicago-Naperville-Joliet, IL | 1 | $ 115,000 | $ 115,000 | $ 100,000 |
| Dallas-Plano-Irving, TX | 1 | $ 386,000 | $ 386,000 | $ 0 |
| Denver-Aurora-Broomfield, CO | 1 | $ 322,000 | $ 322,000 | $ 205,000 |
| Durham-Chapel Hill, NC | 1 | $ 250,000 | $ 250,000 | $ 234,000 |
| Florence, SC | 1 | $ 138,000 | $ 138,000 | $ 45,000 |
| Hartford-West Hartford-East Hartford, CT | 1 | $ 448,000 | $ 448,000 | $ 246,000 |
| Indianapolis-Carmel, IN | 1 | $ 156,000 | $ 156,000 | $ 105,000 |
| Kingston, NY | 1 | $ 61,000 | $ 61,000 | $ 0 |
| Lansing-East Lansing, MI | 1 | $ 162,000 | $ 162,000 | $ 53,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 1 | $ 120,000 | $ 120,000 | $ 30,000 |
| Norwich-New London, CT | 1 | $ 399,000 | $ 399,000 | $ 137,000 |
| Orlando-Kissimmee, FL | 1 | $ 113,000 | $ 113,000 | $ 138,000 |
| Peabody, MA | 1 | $ 195,000 | $ 195,000 | $ 122,000 |
| Philadelphia, PA | 1 | $ 157,000 | $ 157,000 | $ 39,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 372,000 | $ 372,000 | $ 162,000 |
| Pittsburgh, PA | 1 | $ 120,000 | $ 120,000 | $ 57,000 |
| Portland-South Portland-Biddeford, ME | 1 | $ 196,000 | $ 196,000 | $ 58,000 |
| Portland-Vancouver-Beaverton, OR-WA | 1 | $ 280,000 | $ 280,000 | $ 143,000 |
| Provo-Orem, UT | 1 | $ 417,000 | $ 417,000 | $ 153,000 |
| Raleigh-Cary, NC | 1 | $ 62,000 | $ 62,000 | $ 49,000 |
| Salt Lake City, UT | 1 | $ 417,000 | $ 417,000 | $ 163,000 |
| San Antonio, TX | 1 | $ 49,000 | $ 49,000 | $ 0 |
| Santa Fe, NM | 1 | $ 150,000 | $ 150,000 | $ 102,000 |
| Savannah, GA | 1 | $ 187,000 | $ 187,000 | $ 49,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 1 | $ 251,000 | $ 251,000 | $ 90,000 |
| Winston-Salem, NC | 1 | $ 195,000 | $ 195,000 | $ 147,000 |
Mortgage Loan Application Detail Totals for Mackinac Savings Bank FSB in 2009
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 | 348 | $78,951,000 | $226,000 | $570,000 | $104,000 | $605,000 |
| Home Purchase | 325 | $64,381,000 | $198,000 | $800,000 | $92,000 | $482,000 |
| Home Improvement | 5 | $1,243,000 | $248,000 | $400,000 | $87,000 | $196,000 |
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 | 589 | $125,770,000 | $213,000 | $680,000 | $100,000 | $605,000 |
| Hispanic | 45 | $10,659,000 | $236,000 | $800,000 | $91,000 | $400,000 |
| Asian | 19 | $4,472,000 | $235,000 | $417,000 | $92,000 | $231,000 |
| Black or African American | 15 | $2,125,000 | $141,000 | $372,000 | $69,000 | $165,000 |
| Not applicable | 4 | $399,000 | $99,000 | $149,000 | $0 | $0 |
| Not Provided | 3 | $301,000 | $100,000 | $195,000 | $49,000 | $57,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $515,000 | $257,000 | $265,000 | $131,000 | $196,000 |
| American Indian or Alaskan Native | 1 | $334,000 | $334,000 | $334,000 | $52,000 | $52,000 |
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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 464 | $98,959,000 | $213,000 | $800,000 | $113,000 | $605,000 |
| FHA-insured (Federal Housing Administration) | 210 | $44,639,000 | $212,000 | $661,000 | $64,000 | $327,000 |
| VA-guaranteed (Veterans Administration) | 4 | $977,000 | $244,000 | $400,000 | $84,000 | $125,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 546 | $119,159,000 | $218,000 | $661,000 | $99,000 | $605,000 |
| Application Withdrawn By Applicant | 67 | $13,569,000 | $202,000 | $800,000 | $99,000 | $400,000 |
| Application Denied By Financial Institution | 45 | $8,297,000 | $184,000 | $680,000 | $97,000 | $346,000 |
| Application Approved But Not Accepted | 13 | $2,549,000 | $196,000 | $538,000 | $85,000 | $168,000 |
| Loan Purchased By The Institution | 5 | $592,000 | $118,000 | $193,000 | $0 | $0 |
| Preapproval Denied by Financial Institution | 1 | $23,000 | $23,000 | $23,000 | $29,000 | $29,000 |
| File Closed For Incompleteness | 1 | $386,000 | $386,000 | $386,000 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 17 | $2,969,000 | $174,000 | $680,000 | $81,000 | $346,000 |
| Collateral | 15 | $3,101,000 | $206,000 | $417,000 | $124,000 | $339,000 |
| Other | 6 | $775,000 | $129,000 | $372,000 | $107,000 | $255,000 |
| Credit History | 3 | $155,000 | $51,000 | $96,000 | $43,000 | $55,000 |
| Unverifiable Information | 2 | $677,000 | $338,000 | $417,000 | $105,000 | $141,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $569,000 | $284,000 | $419,000 | $66,000 | $102,000 |
| Employment History | 1 | $74,000 | $74,000 | $74,000 | $52,000 | $52,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mackinac Savings Bank FSB's 2009 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 Mackinac Savings Bank FSB'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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