Mainsource Bank - Hobart Mortgage Lending & HMDA Data, 2004
In 2004, Mainsource Bank - Hobart of Hobart, IN reported 255 mortgage applications totaling $27.1 million, down 37% from 2003. The average application was for $106,333, and applicants reported an average income of $61,835. 66% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Gary, IN (189) and South Bend-Mishawaka, IN-MI (1).
| 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 | 255 |
| Total Mortgage Loan Application Amount | $27,115,000 |
| Average Mortgage Loan Application Amount | $106,333 |
| Highest Mortgage Loan Application Amount | $600,000 |
| Average Applicant Income | $61,835 |
| Highest Applicant Income | $502,000 |
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(HMDA) records Mainsource Bank - Hobart filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 189 | $ 18,741,000 | $ 99,158 | $ 53,000 |
| South Bend-Mishawaka, IN-MI | 1 | $ 117,000 | $ 117,000 | $ 56,000 |
Mortgage Loan Application Detail Totals for Mainsource Bank - Hobart in 2004
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 | 171 | $20,759,000 | $121,500 | $600,000 | $66,000 | $272,000 |
| Refinancing | 62 | $5,757,000 | $92,000 | $334,000 | $61,000 | $502,000 |
| Home Improvement | 22 | $599,000 | $27,000 | $80,000 | $40,000 | $124,000 |
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 | 242 | $25,568,000 | $110,500 | $600,000 | $56,500 | $502,000 |
| Hispanic | 7 | $735,000 | $110,500 | $167,000 | $47,000 | $59,000 |
| Black or African American | 5 | $640,000 | $155,000 | $312,000 | $87,500 | $108,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $172,000 | $172,000 | $172,000 | $239,000 | $239,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 255 | $27,115,000 | $111,500 | $600,000 | $64,000 | $502,000 |
| 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 | 169 | $17,254,000 | $102,000 | $334,000 | $70,000 | $502,000 |
| Preapproval Approved but not Accepted | 33 | $4,184,000 | $126,000 | $298,000 | $113,000 | $239,000 |
| Application Denied By Financial Institution | 18 | $1,214,000 | $75,000 | $160,000 | $43,500 | $169,000 |
| Preapproval Denied by Financial Institution | 13 | $1,968,000 | $151,000 | $600,000 | $74,000 | $182,000 |
| Loan Purchased By The Institution | 11 | $1,127,000 | $102,000 | $168,000 | $0 | $0 |
| Application Approved But Not Accepted | 7 | $977,000 | $139,000 | $209,000 | $66,000 | $115,000 |
| Application Withdrawn By Applicant | 4 | $391,000 | $74,500 | $260,000 | $35,500 | $84,000 |
| File Closed For Incompleteness | 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 | 15 | $1,104,000 | $71,500 | $160,000 | $47,500 | $169,000 |
| Debt-To-Income Ratio | 11 | $1,126,000 | $92,500 | $200,000 | $41,000 | $108,000 |
| Collateral | 2 | $170,000 | $85,000 | $104,000 | $58,000 | $66,000 |
| Other | 1 | $600,000 | $600,000 | $600,000 | $182,000 | $182,000 |
| Employment History | 1 | $115,000 | $115,000 | $115,000 | $46,000 | $46,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $67,000 | $67,000 | $67,000 | $46,000 | $46,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mainsource Bank - Hobart's 2004 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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