Mercantile Bank & Trust Mortgage Lending & HMDA Data, 2004
In 2004, Mercantile Bank & Trust of Baltimore, MD reported 188 mortgage applications totaling $67.3 million, down 21% from 2003. The average application was for $358,175, and applicants reported an average income of $197,085. 58% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Baltimore-Towson, MD (107), Bethesda-Frederick-Gaithersburg, MD (14) and York-Hanover, PA (7) (applications in parentheses).
| Mortgage Company & Address | Mercantile Bank & Trust 2 Hopkins Plaza Baltimore, MD 21203 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 188 |
| Total Mortgage Loan Application Amount | $67,337,000 |
| Average Mortgage Loan Application Amount | $358,175 |
| Highest Mortgage Loan Application Amount | $2,820,000 |
| Average Applicant Income | $197,085 |
| Highest Applicant Income | $2,830,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mercantile Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mercantile Bank & Trust 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 | 82 | $38,963,000 | $728,900 | $2,820,000 | $395,600 | $1,200,000 |
| Home Improvement | 60 | $3,300,000 | $157,750 | $523,000 | $184,250 | $2,830,000 |
| Refinancing | 46 | $25,074,000 | $603,000 | $2,160,000 | $318,333 | $1,199,000 |
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 | 148 | $54,612,000 | $684,727 | $2,820,000 | $356,636 | $2,830,000 |
| Not Provided | 19 | $3,776,000 | $267,250 | $634,000 | $129,500 | $293,000 |
| Asian | 10 | $4,164,000 | $435,666 | $515,000 | $132,000 | $224,000 |
| Black or African American | 7 | $2,225,000 | $291,000 | $648,000 | $188,333 | $269,000 |
| Not applicable | 3 | $2,530,000 | $843,333 | $1,100,000 | $378,666 | $670,000 |
| Hispanic | 1 | $30,000 | $30,000 | $30,000 | $18,000 | $18,000 |
| 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) | 188 | $67,337,000 | $683,818 | $2,820,000 | $335,818 | $2,830,000 |
| 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 | 109 | $36,470,000 | $688,363 | $2,820,000 | $363,727 | $2,830,000 |
| Loan Purchased By The Institution | 62 | $29,542,000 | $474,250 | $927,000 | $211,250 | $350,000 |
| Application Denied By Financial Institution | 17 | $1,325,000 | $61,500 | $675,000 | $48,000 | $437,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Credit History | 7 | $391,000 | $34,500 | $172,000 | $43,500 | $299,000 |
| Debt-To-Income Ratio | 7 | $814,000 | $116,000 | $675,000 | $138,000 | $437,000 |
| Unverifiable Information | 2 | $45,000 | $22,000 | $30,000 | $9,000 | $18,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $75,000 | $75,000 | $75,000 | $8,000 | $8,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mercantile Bank & Trust'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 Mercantile Bank & Trust'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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with aggregated HMDA statistics today.
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