Mbank Mortgage Lending & HMDA Data, 2020
In 2020, Mbank of Manistique, MI reported 2,168 mortgage applications totaling $343.7 million, up 64% from 2019. The average application was for $158,542, and applicants reported an average income of $104,149. 73% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Wausau, WI (103), Warren-Troy-Farmington Hills, MI (41) and Grand Rapids-Wyoming, MI (9) (applications in parentheses).
| Mortgage Company & Address | Mbank 130 S Cedar St Manistique, MI 49854 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 2,168 |
| Total Mortgage Loan Application Amount | $343,720,000 |
| Average Mortgage Loan Application Amount | $158,542 |
| Highest Mortgage Loan Application Amount | $2,235,000 |
| Average Applicant Income | $104,149 |
| Highest Applicant Income | $1,812,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mbank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Outside any metro area | 1,948 | $ 299,420,000 | $ 153,706 | $ 100,581 |
| Wausau, WI | 103 | $ 15,165,000 | $ 147,233 | $ 84,000 |
| Warren-Troy-Farmington Hills, MI | 41 | $ 12,845,000 | $ 313,292 | $ 218,000 |
| Grand Rapids-Wyoming, MI | 9 | $ 1,625,000 | $ 180,555 | $ 175,000 |
| Flint, MI | 7 | $ 1,755,000 | $ 250,714 | $ 189,000 |
| Ann Arbor, MI | 6 | $ 1,720,000 | $ 286,666 | $ 347,000 |
| Madison, WI | 5 | $ 1,165,000 | $ 233,000 | $ 128,000 |
| Milwaukee-Waukesha-West Allis, WI | 5 | $ 1,565,000 | $ 313,000 | $ 131,000 |
| Tampa-St. Petersburg-Clearwater, FL | 4 | $ 810,000 | $ 202,500 | $ 91,000 |
| Eau Claire, WI | 3 | $ 585,000 | $ 195,000 | $ 93,000 |
| Green Bay, WI | 3 | $ 535,000 | $ 178,333 | $ 81,000 |
| Lansing-East Lansing, MI | 3 | $ 375,000 | $ 125,000 | $ 80,000 |
| Phoenix-Mesa-Scottsdale, AZ | 3 | $ 655,000 | $ 218,333 | $ 323,000 |
| Bay City, MI | 2 | $ 320,000 | $ 160,000 | $ 108,000 |
| Jacksonville, FL | 2 | $ 310,000 | $ 155,000 | $ 96,000 |
| Kalamazoo-Portage, MI | 2 | $ 260,000 | $ 130,000 | $ 114,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 2 | $ 210,000 | $ 105,000 | $ 68,000 |
| Port St. Lucie, FL | 2 | $ 460,000 | $ 230,000 | $ 103,000 |
| Salt Lake City, UT | 2 | $ 630,000 | $ 315,000 | $ 121,000 |
| Appleton, WI | 1 | $ 195,000 | $ 195,000 | $ 45,000 |
| Battle Creek, MI | 1 | $ 205,000 | $ 205,000 | $ 180,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 145,000 | $ 145,000 | $ 62,000 |
| Columbia, SC | 1 | $ 335,000 | $ 335,000 | $ 161,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 1 | $ 175,000 | $ 175,000 | $ 118,000 |
| Houston-The Woodlands-Sugar Land, TX | 1 | $ 65,000 | $ 65,000 | $ 52,000 |
| Jackson, MI | 1 | $ 205,000 | $ 205,000 | $ 85,000 |
| Lakeland-Winter Haven, FL | 1 | $ 155,000 | $ 155,000 | $ 59,000 |
| Longview, WA | 1 | $ 305,000 | $ 305,000 | $ 480,000 |
| Midland, MI | 1 | $ 175,000 | $ 175,000 | $ 314,000 |
| Niles-Benton Harbor, MI | 1 | $ 195,000 | $ 195,000 | $ 100,000 |
| Palm Bay-Melbourne-Titusville, FL | 1 | $ 375,000 | $ 375,000 | $ 692,000 |
| Sheboygan, WI | 1 | $ 235,000 | $ 235,000 | $ 220,000 |
| South Bend-Mishawaka, IN-MI | 1 | $ 55,000 | $ 55,000 | $ 0 |
| St. Louis, MO-IL | 1 | $ 285,000 | $ 285,000 | $ 93,000 |
| Tucson, AZ | 1 | $ 205,000 | $ 205,000 | $ 112,000 |
Mortgage Loan Application Detail Totals for Mbank in 2020
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 | 977 | $163,975,000 | $167,000 | $2,235,000 | $111,000 | $1,812,000 |
| Home Purchase | 704 | $100,690,000 | $143,000 | $1,645,000 | $98,000 | $779,000 |
| Cash-out Refinancing | 420 | $70,530,000 | $167,000 | $515,000 | $97,000 | $902,000 |
| Other Purpose | 46 | $6,080,000 | $132,000 | $455,000 | $130,000 | $1,015,000 |
| Home Improvement | 21 | $2,445,000 | $116,000 | $505,000 | $78,000 | $408,000 |
| 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 | 1,972 | $308,630,000 | $156,000 | $2,135,000 | $104,000 | $1,812,000 |
| Not Provided | 87 | $12,615,000 | $145,000 | $515,000 | $99,000 | $582,000 |
| Not applicable | 43 | $12,705,000 | $295,000 | $2,235,000 | $0 | $0 |
| American Indian or Alaskan Native | 38 | $4,750,000 | $125,000 | $375,000 | $78,000 | $250,000 |
| Hispanic | 11 | $1,495,000 | $135,000 | $235,000 | $112,000 | $731,000 |
| Black or African American | 6 | $960,000 | $160,000 | $415,000 | $309,000 | $850,000 |
| Asian | 5 | $1,155,000 | $231,000 | $305,000 | $131,000 | $221,000 |
| Native Hawaiian or Other Pacific Islander | 4 | $750,000 | $187,000 | $345,000 | $74,000 | $131,000 |
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) | 2,100 | $336,680,000 | $160,000 | $2,235,000 | $106,000 | $1,812,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 68 | $7,040,000 | $103,000 | $225,000 | $43,000 | $108,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 1,576 | $258,590,000 | $164,000 | $2,235,000 | $110,000 | $1,812,000 |
| Application Approved But Not Accepted | 302 | $45,550,000 | $150,000 | $805,000 | $102,000 | $902,000 |
| Application Denied By Financial Institution | 225 | $30,835,000 | $137,000 | $2,135,000 | $69,000 | $599,000 |
| Application Withdrawn By Applicant | 65 | $8,745,000 | $134,000 | $305,000 | $100,000 | $480,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 1,943 | $312,885,000 | $161,000 | $2,235,000 | $109,000 | $1,812,000 |
| Credit History | 84 | $9,300,000 | $110,000 | $315,000 | $63,000 | $410,000 |
| Debt-To-Income Ratio | 84 | $13,160,000 | $156,000 | $2,135,000 | $49,000 | $300,000 |
| Collateral | 43 | $5,705,000 | $132,000 | $435,000 | $101,000 | $599,000 |
| Other | 7 | $1,455,000 | $207,000 | $865,000 | $122,000 | $249,000 |
| Unverifiable Information | 2 | $180,000 | $90,000 | $105,000 | $90,000 | $125,000 |
| Employment History | 2 | $290,000 | $145,000 | $205,000 | $47,000 | $59,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $530,000 | $265,000 | $415,000 | $98,000 | $148,000 |
| Mortgage Insurance Denied | 1 | $215,000 | $215,000 | $215,000 | $510,000 | $510,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mbank's 2020 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 Mbank'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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