Mainsource Bank - Hobart Mortgage Lending & HMDA Data, 2006
In 2006, Mainsource Bank - Hobart of Hobart, IN reported 180 mortgage applications totaling $18.2 million, down 40% from 2005. The average application was for $101,027, and applicants reported an average income of $68,511. 65% of its applications resulted in an originated loan and 9% were denied. Its largest market was Gary, IN (131).
| Mortgage Company & Address | Mainsource Bank - Hobart 555 E Third St Hobart, IN 46342 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 180 |
| Total Mortgage Loan Application Amount | $18,185,000 |
| Average Mortgage Loan Application Amount | $101,027 |
| Highest Mortgage Loan Application Amount | $406,000 |
| Average Applicant Income | $68,511 |
| Highest Applicant Income | $574,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mainsource Bank - Hobart filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Gary, IN | 131 | $ 11,912,000 | $ 90,931 | $ 71,000 |
Mortgage Loan Application Detail Totals for Mainsource Bank - Hobart in 2006
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 | 122 | $13,567,000 | $111,000 | $406,000 | $74,000 | $574,000 |
| Refinancing | 52 | $4,476,000 | $86,000 | $280,000 | $58,000 | $224,000 |
| Home Improvement | 6 | $142,000 | $23,000 | $45,000 | $48,000 | $79,000 |
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 | 165 | $16,845,000 | $102,000 | $406,000 | $71,000 | $574,000 |
| Hispanic | 10 | $916,000 | $91,000 | $303,000 | $52,000 | $110,000 |
| Black or African American | 2 | $166,000 | $83,000 | $115,000 | $53,000 | $80,000 |
| Not applicable | 2 | $202,000 | $101,000 | $125,000 | $0 | $0 |
| Not Provided | 1 | $56,000 | $56,000 | $56,000 | $23,000 | $23,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 180 | $18,185,000 | $101,000 | $406,000 | $68,000 | $574,000 |
| 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 | 117 | $10,647,000 | $91,000 | $303,000 | $74,000 | $574,000 |
| Preapproval Approved but not Accepted | 19 | $2,584,000 | $136,000 | $310,000 | $63,000 | $137,000 |
| Application Denied By Financial Institution | 16 | $1,237,000 | $77,000 | $189,000 | $48,000 | $106,000 |
| Preapproval Denied by Financial Institution | 10 | $975,000 | $97,000 | $198,000 | $35,000 | $105,000 |
| Application Withdrawn By Applicant | 9 | $1,373,000 | $152,000 | $406,000 | $71,000 | $110,000 |
| Application Approved But Not Accepted | 7 | $819,000 | $117,000 | $180,000 | $69,000 | $105,000 |
| File Closed For Incompleteness | 2 | $550,000 | $275,000 | $275,000 | $98,000 | $123,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Credit History | 11 | $865,000 | $78,000 | $140,000 | $49,000 | $105,000 |
| Debt-To-Income Ratio | 11 | $929,000 | $84,000 | $198,000 | $34,000 | $80,000 |
| Unverifiable Information | 3 | $374,000 | $124,000 | $189,000 | $61,000 | $106,000 |
| Collateral | 1 | $44,000 | $44,000 | $44,000 | $32,000 | $32,000 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mainsource Bank - Hobart's 2006 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 Mainsource Bank - Hobart'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 Indiana, download the full spreadsheet
with aggregated HMDA statistics today.
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