Mercantile Bank & Trust Mortgage Lending & HMDA Data, 2005
In 2005, Mercantile Bank & Trust of Baltimore, MD reported 241 mortgage applications totaling $85.8 million, up 28% from 2004. The average application was for $356,149, and applicants reported an average income of $191,211. 75% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Baltimore-Towson, MD (75), Bethesda-Frederick-Gaithersburg, MD (14) and Washington-Arlington-Alexandria, DC-VA-MD-WV (12) (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 | 241 |
| Total Mortgage Loan Application Amount | $85,832,000 |
| Average Mortgage Loan Application Amount | $356,149 |
| Highest Mortgage Loan Application Amount | $6,000,000 |
| Average Applicant Income | $191,211 |
| Highest Applicant Income | $2,312,000 |
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(HMDA) records Mercantile Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2005
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 | 103 | $46,416,000 | $629,750 | $5,400,000 | $215,750 | $2,312,000 |
| Refinancing | 92 | $37,853,000 | $421,700 | $6,000,000 | $304,000 | $1,438,000 |
| Home Improvement | 46 | $1,563,000 | $46,000 | $180,000 | $83,000 | $394,000 |
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 | 151 | $51,652,000 | $472,538 | $2,300,000 | $276,538 | $1,410,000 |
| Black or African American | 36 | $6,362,000 | $242,428 | $543,000 | $208,857 | $804,000 |
| Not applicable | 25 | $21,088,000 | $1,103,666 | $6,000,000 | $312,166 | $2,312,000 |
| Not Provided | 11 | $2,153,000 | $256,000 | $700,000 | $60,250 | $129,000 |
| Hispanic | 9 | $1,886,000 | $260,500 | $570,000 | $421,000 | $1,438,000 |
| Asian | 8 | $2,332,000 | $339,000 | $1,040,000 | $116,000 | $270,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $359,000 | $359,000 | $359,000 | $106,000 | $106,000 |
| 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) | 241 | $85,832,000 | $519,733 | $6,000,000 | $248,800 | $2,312,000 |
| 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 | 180 | $58,356,000 | $488,846 | $5,400,000 | $296,769 | $2,312,000 |
| Application Denied By Financial Institution | 20 | $11,257,000 | $810,800 | $6,000,000 | $56,800 | $435,000 |
| Preapproval Denied by Financial Institution | 16 | $4,164,000 | $260,000 | $600,000 | $81,000 | $240,000 |
| Application Approved But Not Accepted | 13 | $5,444,000 | $411,333 | $1,100,000 | $114,666 | $249,000 |
| Application Withdrawn By Applicant | 8 | $3,300,000 | $491,500 | $1,200,000 | $191,500 | $513,000 |
| Loan Purchased By The Institution | 3 | $2,271,000 | $630,000 | $1,850,000 | $190,000 | $761,000 |
| Preapproval Approved but not Accepted | 1 | $1,040,000 | $1,040,000 | $1,040,000 | $270,000 | $270,000 |
| 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 | 7 | $6,026,000 | $2,002,333 | $6,000,000 | $42,000 | $92,000 |
| Debt-To-Income Ratio | 3 | $726,000 | $242,000 | $700,000 | $6,333 | $19,000 |
| Collateral | 1 | $2,300,000 | $2,300,000 | $2,300,000 | $435,000 | $435,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mercantile Bank & Trust's 2005 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.
For a list of all lenders in Maryland, download the full spreadsheet
with aggregated HMDA statistics today.
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