Madison County Bank Mortgage Lending & HMDA Data, 2007
In 2007, Madison County Bank of Madison, MS reported 149 mortgage applications totaling $36.5 million, up 684% from 2006. The average application was for $245,006, and applicants reported an average income of $126,154. 54% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Jackson, MS (127), Memphis, TN-MS-AR (2) and Montgomery, AL (2) (applications in parentheses).
| Mortgage Company & Address | Madison County Bank Po Box 1759 Madison, MS 39110 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 |
| Total Number of Mortgage Applications | 149 |
| Total Mortgage Loan Application Amount | $36,506,000 |
| Average Mortgage Loan Application Amount | $245,006 |
| Highest Mortgage Loan Application Amount | $1,900,000 |
| Average Applicant Income | $126,154 |
| Highest Applicant Income | $3,040,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Madison County Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Madison County Bank in 2007
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 | 79 | $21,288,000 | $269,000 | $1,523,000 | $125,000 | $870,000 |
| Home Purchase | 69 | $15,044,000 | $218,000 | $1,900,000 | $128,000 | $3,040,000 |
| Home Improvement | 1 | $174,000 | $174,000 | $174,000 | $90,000 | $90,000 |
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 | 116 | $29,849,000 | $257,000 | $1,523,000 | $150,000 | $3,040,000 |
| Not applicable | 16 | $1,520,000 | $95,000 | $265,000 | $0 | $0 |
| Black or African American | 11 | $3,577,000 | $325,000 | $1,900,000 | $68,000 | $130,000 |
| Not Provided | 5 | $1,361,000 | $272,000 | $387,000 | $108,000 | $174,000 |
| Asian | 1 | $199,000 | $199,000 | $199,000 | $45,000 | $45,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 149 | $36,506,000 | $245,000 | $1,900,000 | $126,000 | $3,040,000 |
| 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 | 81 | $16,062,000 | $198,000 | $805,000 | $116,000 | $3,040,000 |
| Application Withdrawn By Applicant | 49 | $12,830,000 | $261,000 | $1,900,000 | $106,000 | $396,000 |
| Application Denied By Financial Institution | 14 | $3,267,000 | $233,000 | $484,000 | $135,000 | $420,000 |
| Application Approved But Not Accepted | 2 | $2,943,000 | $1,471,000 | $1,523,000 | $870,000 | $870,000 |
| File Closed For Incompleteness | 2 | $1,254,000 | $627,000 | $750,000 | $223,000 | $240,000 |
| Preapproval Denied by Financial Institution | 1 | $150,000 | $150,000 | $150,000 | $71,000 | $71,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $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 |
|---|---|---|---|---|---|---|
| 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 Madison County Bank's 2007 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 Madison County Bank'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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