Mainsource Bank - Hobart Mortgage Lending & HMDA Data, 2003
In 2003, Mainsource Bank - Hobart of Hobart, IN reported 406 mortgage applications totaling $35.2 million. The average application was for $86,669, and applicants reported an average income of $61,362. 90% of its applications resulted in an originated loan and 5% were denied. Its largest market was Gary, IN (392).
| 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 | 406 |
| Total Mortgage Loan Application Amount | $35,188,000 |
| Average Mortgage Loan Application Amount | $86,669 |
| Highest Mortgage Loan Application Amount | $607,000 |
| Average Applicant Income | $61,362 |
| Highest Applicant Income | $303,000 |
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(HMDA) records Mainsource Bank - Hobart filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Mainsource Bank - Hobart in 2003
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 (home purchase or home improvement, one-to-four family) | 199 | $17,802,000 | $89,000 | $323,000 | $69,000 | $303,000 |
| Home Purchase (one-to-four family) | 126 | $11,022,000 | $87,000 | $607,000 | $57,000 | $218,000 |
| Home Improvement (one-to-four family) | 80 | $5,924,000 | $74,000 | $323,000 | $50,000 | $142,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 1 | $440,000 | $440,000 | $440,000 | $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 | 384 | $32,663,000 | $85,000 | $607,000 | $65,000 | $303,000 |
| Hispanic | 14 | $1,314,000 | $93,000 | $249,000 | $49,000 | $93,000 |
| Black | 5 | $441,000 | $88,000 | $244,000 | $75,000 | $119,000 |
| Asian or Pacific Islander | 2 | $330,000 | $165,000 | $200,000 | $15,000 | $19,000 |
| Not applicable | 1 | $440,000 | $440,000 | $440,000 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Information not provided by applicant in mail or telephone application | 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) | 406 | $35,188,000 | $86,000 | $607,000 | $59,000 | $303,000 |
| 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 | 366 | $30,805,000 | $84,000 | $440,000 | $54,000 | $303,000 |
| Application Denied By Financial Institution | 21 | $2,888,000 | $137,000 | $607,000 | $63,000 | $284,000 |
| Application Approved But Not Accepted | 14 | $1,177,000 | $84,000 | $323,000 | $74,000 | $164,000 |
| File Closed For Incompleteness | 3 | $221,000 | $73,000 | $95,000 | $82,000 | $97,000 |
| Application Withdrawn By Applicant | 2 | $97,000 | $48,000 | $68,000 | $47,000 | $48,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 10 | $1,521,000 | $152,000 | $323,000 | $47,000 | $96,000 |
| Credit History | 7 | $306,000 | $43,000 | $92,000 | $33,000 | $76,000 |
| Collateral | 2 | $300,000 | $150,000 | $270,000 | $163,000 | $284,000 |
| Other | 1 | $154,000 | $154,000 | $154,000 | $65,000 | $65,000 |
| Unverifiable Information | 1 | $607,000 | $607,000 | $607,000 | $130,000 | $130,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mainsource Bank - Hobart's 2003 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.
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