Mackinac Savings Bank FSB Mortgage Lending & HMDA Data, 2016
In 2016, Mackinac Savings Bank FSB of Boynton Beach, FL reported 677 mortgage applications totaling $152.9 million, up 20% from 2015. The average application was for $225,797, and applicants reported an average income of $122,243. 70% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Worcester, MA-CT (258), Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (130) and Warren-Troy-Farmington Hills, MI (56) (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 | 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 677 |
| Total Mortgage Loan Application Amount | $152,865,000 |
| Average Mortgage Loan Application Amount | $225,797 |
| Highest Mortgage Loan Application Amount | $1,100,000 |
| Average Applicant Income | $122,243 |
| Highest Applicant Income | $1,428,000 |
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records Mackinac Savings Bank FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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-CT | 258 | $ 57,099,000 | $ 221,313 | $ 93,104 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 130 | $ 33,896,000 | $ 260,738 | $ 168,000 |
| Warren-Troy-Farmington Hills, MI | 56 | $ 8,622,000 | $ 153,964 | $ 84,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 47 | $ 11,734,000 | $ 249,659 | $ 154,000 |
| Orlando-Kissimmee-Sanford, FL | 24 | $ 5,684,000 | $ 236,833 | $ 211,000 |
| Tampa-St. Petersburg-Clearwater, FL | 20 | $ 3,328,000 | $ 166,400 | $ 92,000 |
| Miami-Miami Beach-Kendall, FL | 17 | $ 4,349,000 | $ 255,823 | $ 144,000 |
| Springfield, MA | 14 | $ 2,675,000 | $ 191,071 | $ 82,000 |
| Barnstable Town, MA | 9 | $ 2,564,000 | $ 284,888 | $ 124,000 |
| Cambridge-Newton-Framingham, MA | 9 | $ 2,735,000 | $ 303,888 | $ 118,000 |
| Cape Coral-Fort Myers, FL | 8 | $ 1,327,000 | $ 165,875 | $ 276,000 |
| Detroit-Dearborn-Livonia, MI | 8 | $ 1,213,000 | $ 151,625 | $ 85,000 |
| Boston, MA | 7 | $ 2,311,000 | $ 330,142 | $ 94,000 |
| Lakeland-Winter Haven, FL | 5 | $ 841,000 | $ 168,200 | $ 242,000 |
| Port St. Lucie, FL | 5 | $ 974,000 | $ 194,800 | $ 102,000 |
| North Port-Sarasota-Bradenton, FL | 4 | $ 919,000 | $ 229,750 | $ 150,000 |
| Charlotte-Concord-Gastonia, NC-SC | 3 | $ 823,000 | $ 274,333 | $ 121,000 |
| Ann Arbor, MI | 2 | $ 258,000 | $ 129,000 | $ 323,000 |
| Hartford-West Hartford-East Hartford, CT | 2 | $ 358,000 | $ 179,000 | $ 121,000 |
| Jacksonville, FL | 2 | $ 619,000 | $ 309,500 | $ 237,000 |
| Lansing-East Lansing, MI | 2 | $ 77,000 | $ 38,500 | $ 41,000 |
| Naples-Immokalee-Marco Island, FL | 2 | $ 878,000 | $ 439,000 | $ 215,000 |
| New York-Jersey City-White Plains, NY-NJ | 2 | $ 213,000 | $ 106,500 | $ 70,000 |
| Newark, NJ-PA | 2 | $ 738,000 | $ 369,000 | $ 205,000 |
| Portland-South Portland, ME | 2 | $ 654,000 | $ 327,000 | $ 157,000 |
| Atlanta-Sandy Springs-Roswell, GA | 1 | $ 324,000 | $ 324,000 | $ 83,000 |
| Camden, NJ | 1 | $ 198,000 | $ 198,000 | $ 97,000 |
| Canton-Massillon, OH | 1 | $ 291,000 | $ 291,000 | $ 130,000 |
| Cincinnati, OH-KY-IN | 1 | $ 192,000 | $ 192,000 | $ 55,000 |
| Cleveland-Elyria, OH | 1 | $ 147,000 | $ 147,000 | $ 53,000 |
| Colorado Springs, CO | 1 | $ 261,000 | $ 261,000 | $ 97,000 |
| Decatur, IL | 1 | $ 205,000 | $ 205,000 | $ 84,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 1 | $ 82,000 | $ 82,000 | $ 127,000 |
| Denver-Aurora-Lakewood, CO | 1 | $ 348,000 | $ 348,000 | $ 103,000 |
| Dover, DE | 1 | $ 210,000 | $ 210,000 | $ 61,000 |
| Flint, MI | 1 | $ 106,000 | $ 106,000 | $ 32,000 |
| Gary, IN | 1 | $ 171,000 | $ 171,000 | $ 61,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 117,000 | $ 117,000 | $ 54,000 |
| Lake County-Kenosha County, IL-WI | 1 | $ 106,000 | $ 106,000 | $ 75,000 |
| Los Angeles-Long Beach-Glendale, CA | 1 | $ 110,000 | $ 110,000 | $ 22,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 1 | $ 247,000 | $ 247,000 | $ 52,000 |
| Oakland-Hayward-Berkeley, CA | 1 | $ 503,000 | $ 503,000 | $ 93,000 |
| Providence-Warwick, RI-MA | 1 | $ 294,000 | $ 294,000 | $ 0 |
| Punta Gorda, FL | 1 | $ 93,000 | $ 93,000 | $ 115,000 |
| Raleigh, NC | 1 | $ 116,000 | $ 116,000 | $ 22,000 |
| Rockingham County-Strafford County, NH | 1 | $ 417,000 | $ 417,000 | $ 271,000 |
| Syracuse, NY | 1 | $ 74,000 | $ 74,000 | $ 42,000 |
| Tacoma-Lakewood, WA | 1 | $ 362,000 | $ 362,000 | $ 100,000 |
| Toledo, OH | 1 | $ 492,000 | $ 492,000 | $ 208,000 |
Mortgage Loan Application Detail Totals for Mackinac Savings Bank FSB in 2016
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 | 442 | $98,522,000 | $222,000 | $1,100,000 | $127,000 | $1,428,000 |
| Refinancing | 228 | $52,618,000 | $230,000 | $650,000 | $113,000 | $745,000 |
| Home Improvement | 7 | $1,725,000 | $246,000 | $348,000 | $123,000 | $311,000 |
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 | 485 | $105,797,000 | $218,000 | $999,000 | $112,000 | $745,000 |
| Hispanic | 86 | $20,885,000 | $242,000 | $1,100,000 | $135,000 | $1,428,000 |
| Asian | 79 | $20,372,000 | $257,000 | $630,000 | $175,000 | $677,000 |
| Black or African American | 23 | $5,095,000 | $221,000 | $580,000 | $115,000 | $537,000 |
| Not Provided | 3 | $567,000 | $189,000 | $337,000 | $98,000 | $180,000 |
| American Indian or Alaskan Native | 1 | $149,000 | $149,000 | $149,000 | $86,000 | $86,000 |
| Native Hawaiin or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 559 | $127,668,000 | $228,000 | $1,100,000 | $133,000 | $1,428,000 |
| FHA-insured (Federal Housing Administration) | 75 | $17,110,000 | $228,000 | $388,000 | $75,000 | $235,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 40 | $7,304,000 | $182,000 | $279,000 | $61,000 | $86,000 |
| VA-guaranteed (Veterans Administration) | 3 | $783,000 | $261,000 | $400,000 | $111,000 | $151,000 |
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 | 475 | $106,063,000 | $223,000 | $1,100,000 | $125,000 | $1,428,000 |
| Application Denied By Financial Institution | 95 | $22,388,000 | $235,000 | $999,000 | $116,000 | $591,000 |
| Application Withdrawn By Applicant | 87 | $19,311,000 | $221,000 | $652,000 | $114,000 | $493,000 |
| Application Approved But Not Accepted | 12 | $2,875,000 | $239,000 | $433,000 | $105,000 | $177,000 |
| File Closed For Incompleteness | 8 | $2,228,000 | $278,000 | $553,000 | $131,000 | $204,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 26 | $8,357,000 | $321,000 | $999,000 | $122,000 | $591,000 |
| Collateral | 25 | $5,226,000 | $209,000 | $713,000 | $134,000 | $385,000 |
| Credit History | 22 | $3,747,000 | $170,000 | $417,000 | $91,000 | $271,000 |
| Other | 9 | $1,959,000 | $217,000 | $417,000 | $114,000 | $181,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 6 | $1,573,000 | $262,000 | $417,000 | $142,000 | $231,000 |
| Employment History | 4 | $873,000 | $218,000 | $348,000 | $98,000 | $194,000 |
| Unverifiable Information | 2 | $406,000 | $203,000 | $310,000 | $68,000 | $113,000 |
| Mortgage Insurance Denied | 1 | $247,000 | $247,000 | $247,000 | $52,000 | $52,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mackinac Savings Bank FSB's 2016 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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