Mars Bank Mortgage Lending & HMDA Data, 2017
In 2017, Mars Bank of Mars, PA reported 388 mortgage applications totaling $67.8 million. The average application was for $174,804, and applicants reported an average income of $107,842. 64% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Pittsburgh, PA (266), Youngstown-Warren-Boardman, OH-PA (10) and Beckley, WV (4) (applications in parentheses).
| Mortgage Company & Address | Mars Bank Po Box 927 Mars, PA 16046 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2022 2021 2020 2019 2018 2017 |
| Total Number of Mortgage Applications | 388 |
| Total Mortgage Loan Application Amount | $67,824,000 |
| Average Mortgage Loan Application Amount | $174,804 |
| Highest Mortgage Loan Application Amount | $770,000 |
| Average Applicant Income | $107,842 |
| Highest Applicant Income | $836,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mars Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mars Bank in 2017
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 | 264 | $49,457,000 | $187,000 | $660,000 | $103,000 | $836,000 |
| Refinancing | 67 | $13,381,000 | $199,000 | $770,000 | $137,000 | $550,000 |
| Home Improvement | 57 | $4,986,000 | $87,000 | $320,000 | $96,000 | $215,000 |
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 | 339 | $58,755,000 | $173,000 | $770,000 | $111,000 | $836,000 |
| Not Provided | 30 | $6,145,000 | $204,000 | $424,000 | $105,000 | $454,000 |
| Not applicable | 9 | $998,000 | $110,000 | $300,000 | $0 | $0 |
| Asian | 4 | $842,000 | $210,000 | $391,000 | $198,000 | $341,000 |
| Black or African American | 4 | $750,000 | $187,000 | $293,000 | $64,000 | $94,000 |
| Hispanic | 2 | $334,000 | $167,000 | $266,000 | $82,000 | $122,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 381 | $67,027,000 | $175,000 | $770,000 | $109,000 | $836,000 |
| FHA-insured (Federal Housing Administration) | 7 | $797,000 | $113,000 | $196,000 | $51,000 | $78,000 |
| 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 | 248 | $41,784,000 | $168,000 | $770,000 | $117,000 | $836,000 |
| Preapproval Approved but not Accepted | 68 | $13,082,000 | $192,000 | $417,000 | $93,000 | $333,000 |
| Application Denied By Financial Institution | 24 | $4,114,000 | $171,000 | $770,000 | $76,000 | $499,000 |
| Application Withdrawn By Applicant | 23 | $4,322,000 | $187,000 | $560,000 | $111,000 | $240,000 |
| Preapproval Denied by Financial Institution | 16 | $3,394,000 | $212,000 | $424,000 | $88,000 | $282,000 |
| File Closed For Incompleteness | 6 | $638,000 | $106,000 | $266,000 | $72,000 | $124,000 |
| Application Approved But Not Accepted | 3 | $490,000 | $163,000 | $235,000 | $104,000 | $113,000 |
| 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 | 16 | $3,762,000 | $235,000 | $770,000 | $72,000 | $156,000 |
| Credit History | 13 | $1,623,000 | $124,000 | $380,000 | $56,000 | $160,000 |
| Other | 5 | $1,546,000 | $309,000 | $770,000 | $181,000 | $499,000 |
| Collateral | 4 | $163,000 | $40,000 | $68,000 | $64,000 | $121,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $300,000 | $300,000 | $300,000 | $157,000 | $157,000 |
| Mortgage Insurance Denied | 1 | $114,000 | $114,000 | $114,000 | $55,000 | $55,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mars Bank's 2017 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 Mars 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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