Main Street Bank Mortgage Lending & HMDA Data, 2018
In 2018, Main Street Bank of Bingham Farms, MI reported 1,242 mortgage applications totaling $271.1 million, down 8% from 2017. The average application was for $218,285, and applicants reported an average income of $116,710. 83% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (1,001), Detroit-Dearborn-Livonia, MI (143) and Flint, MI (13) (applications in parentheses).
| Mortgage Company & Address | Main Street Bank 31780 Telegraph Road, Suite 100 Bingham Farms, MI 48025 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 |
| Total Number of Mortgage Applications | 1,242 |
| Total Mortgage Loan Application Amount | $271,110,000 |
| Average Mortgage Loan Application Amount | $218,285 |
| Highest Mortgage Loan Application Amount | $1,485,000 |
| Average Applicant Income | $116,710 |
| Highest Applicant Income | $2,094,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Main Street Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Warren-Troy-Farmington Hills, MI | 1,001 | $ 225,435,000 | $ 225,209 | $ 117,000 |
| Detroit-Dearborn-Livonia, MI | 143 | $ 25,935,000 | $ 181,363 | $ 95,000 |
| Outside any metro area | 25 | $ 4,905,000 | $ 196,200 | $ 138,240 |
| Flint, MI | 13 | $ 2,575,000 | $ 198,076 | $ 77,000 |
| Ann Arbor, MI | 10 | $ 1,880,000 | $ 188,000 | $ 87,000 |
| Grand Rapids-Wyoming, MI | 4 | $ 690,000 | $ 172,500 | $ 89,000 |
| Monroe, MI | 4 | $ 770,000 | $ 192,500 | $ 162,000 |
| New Orleans-Metairie, LA | 4 | $ 1,090,000 | $ 272,500 | $ 254,000 |
| Niles-Benton Harbor, MI | 4 | $ 340,000 | $ 85,000 | $ 64,000 |
| Saginaw, MI | 4 | $ 590,000 | $ 147,500 | $ 58,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 3 | $ 715,000 | $ 238,333 | $ 256,000 |
| Atlanta-Sandy Springs-Roswell, GA | 2 | $ 700,000 | $ 350,000 | $ 140,000 |
| Bay City, MI | 2 | $ 200,000 | $ 100,000 | $ 122,000 |
| Lansing-East Lansing, MI | 2 | $ 420,000 | $ 210,000 | $ 90,000 |
| Toledo, OH | 2 | $ 320,000 | $ 160,000 | $ 64,000 |
| Charleston-North Charleston, SC | 1 | $ 145,000 | $ 145,000 | $ 41,000 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 395,000 | $ 395,000 | $ 163,000 |
| Chicago-Naperville-Arlington Heights, IL | 1 | $ 205,000 | $ 205,000 | $ 150,000 |
| Dallas-Plano-Irving, TX | 1 | $ 135,000 | $ 135,000 | $ 60,000 |
| East Stroudsburg, PA | 1 | $ 95,000 | $ 95,000 | $ 50,000 |
| Fresno, CA | 1 | $ 325,000 | $ 325,000 | $ 180,000 |
| Lexington-Fayette, KY | 1 | $ 265,000 | $ 265,000 | $ 86,000 |
| Los Angeles-Long Beach-Glendale, CA | 1 | $ 405,000 | $ 405,000 | $ 200,000 |
| Midland, MI | 1 | $ 175,000 | $ 175,000 | $ 121,000 |
| Muskegon, MI | 1 | $ 175,000 | $ 175,000 | $ 83,000 |
| Naples-Immokalee-Marco Island, FL | 1 | $ 105,000 | $ 105,000 | $ 36,000 |
| Orlando-Kissimmee-Sanford, FL | 1 | $ 295,000 | $ 295,000 | $ 125,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 455,000 | $ 455,000 | $ 1,602,000 |
| Rockford, IL | 1 | $ 85,000 | $ 85,000 | $ 291,000 |
| St. Louis, MO-IL | 1 | $ 265,000 | $ 265,000 | $ 266,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 165,000 | $ 165,000 | $ 109,000 |
| Tuscaloosa, AL | 1 | $ 85,000 | $ 85,000 | $ 400,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 1 | $ 315,000 | $ 315,000 | $ 83,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 1 | $ 455,000 | $ 455,000 | $ 524,000 |
Mortgage Loan Application Detail Totals for Main Street Bank in 2018
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 | 996 | $220,290,000 | $221,000 | $1,485,000 | $112,000 | $2,094,000 |
| Refinancing | 103 | $23,005,000 | $223,000 | $1,005,000 | $130,000 | $843,000 |
| Cash-out Refinancing | 99 | $21,595,000 | $218,000 | $625,000 | $114,000 | $293,000 |
| Other Purpose | 30 | $4,270,000 | $142,000 | $455,000 | $219,000 | $1,602,000 |
| Home Improvement | 14 | $1,950,000 | $139,000 | $455,000 | $154,000 | $475,000 |
| Not Applicable | 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 |
|---|---|---|---|---|---|---|
| White | 1,073 | $236,915,000 | $220,000 | $1,005,000 | $121,000 | $2,094,000 |
| Black or African American | 109 | $18,345,000 | $168,000 | $455,000 | $83,000 | $524,000 |
| Hispanic | 21 | $4,325,000 | $205,000 | $555,000 | $93,000 | $253,000 |
| Asian | 20 | $4,680,000 | $234,000 | $445,000 | $129,000 | $649,000 |
| Not applicable | 13 | $5,875,000 | $451,000 | $1,485,000 | $0 | $0 |
| Not Provided | 5 | $735,000 | $147,000 | $175,000 | $114,000 | $312,000 |
| American Indian or Alaskan Native | 1 | $235,000 | $235,000 | $235,000 | $97,000 | $97,000 |
| 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) | 1,058 | $240,420,000 | $227,000 | $1,485,000 | $126,000 | $2,094,000 |
| FHA-insured (Federal Housing Administration) | 149 | $22,855,000 | $153,000 | $295,000 | $59,000 | $164,000 |
| VA-guaranteed (Veterans Administration) | 35 | $7,835,000 | $223,000 | $415,000 | $84,000 | $159,000 |
| 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 | 1,027 | $222,915,000 | $217,000 | $1,485,000 | $116,000 | $1,602,000 |
| Application Withdrawn By Applicant | 132 | $31,550,000 | $239,000 | $765,000 | $122,000 | $1,070,000 |
| Application Denied By Financial Institution | 64 | $11,820,000 | $184,000 | $455,000 | $118,000 | $2,094,000 |
| Application Approved But Not Accepted | 10 | $2,100,000 | $210,000 | $325,000 | $107,000 | $198,000 |
| File Closed For Incompleteness | 9 | $2,725,000 | $302,000 | $1,005,000 | $135,000 | $338,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 1,178 | $259,290,000 | $220,000 | $1,485,000 | $117,000 | $1,602,000 |
| Collateral | 20 | $3,530,000 | $176,000 | $445,000 | $200,000 | $2,094,000 |
| Debt-To-Income Ratio | 17 | $3,115,000 | $183,000 | $425,000 | $56,000 | $168,000 |
| Other | 9 | $1,375,000 | $152,000 | $245,000 | $99,000 | $245,000 |
| Credit History | 9 | $1,775,000 | $197,000 | $455,000 | $96,000 | $240,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $960,000 | $240,000 | $375,000 | $80,000 | $145,000 |
| Unverifiable Information | 3 | $745,000 | $248,000 | $385,000 | $136,000 | $180,000 |
| Employment History | 2 | $320,000 | $160,000 | $215,000 | $72,000 | $108,000 |
| 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 Main Street Bank's 2018 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 Main Street 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.
For a list of all lenders in Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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