Mercantile Bank Mortgage Lending & HMDA Data, 2006
In 2006, Mercantile Bank of Winter Park, FL reported 2,043 mortgage applications totaling $436.5 million, up 5% from 2005. The average application was for $213,658, and applicants reported an average income of $128,428. 55% of its applications resulted in an originated loan and 29% were denied. Its largest markets were Jacksonville, FL (452), Tampa-St. Petersburg-Clearwater, FL (356) and Orlando-Kissimmee, FL (232) (applications in parentheses).
| Mortgage Company & Address | Mercantile Bank 1560 N. Orange Avenue Winter Park, FL 32789 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 2,043 |
| Total Mortgage Loan Application Amount | $436,505,000 |
| Average Mortgage Loan Application Amount | $213,658 |
| Highest Mortgage Loan Application Amount | $4,072,000 |
| Average Applicant Income | $128,428 |
| Highest Applicant Income | $7,016,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mercantile Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Jacksonville, FL | 452 | $ 79,482,000 | $ 175,845 | $ 98,000 |
| Tampa-St. Petersburg-Clearwater, FL | 356 | $ 80,167,000 | $ 225,188 | $ 138,000 |
| Orlando-Kissimmee, FL | 232 | $ 57,534,000 | $ 247,991 | $ 115,000 |
| Gainesville, FL | 90 | $ 17,829,000 | $ 198,100 | $ 170,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 82 | $ 53,775,000 | $ 655,792 | $ 487,000 |
| Ocala, FL | 63 | $ 20,690,000 | $ 328,412 | $ 177,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 61 | $ 16,548,000 | $ 271,278 | $ 96,000 |
| Miami-Miami Beach-Kendall, FL | 53 | $ 21,122,000 | $ 398,528 | $ 417,000 |
| Cape Coral-Fort Myers, FL | 48 | $ 7,683,000 | $ 160,062 | $ 51,000 |
| Lakeland, FL | 41 | $ 6,806,000 | $ 166,000 | $ 59,000 |
| Naples-Marco Island, FL | 13 | $ 2,440,000 | $ 187,692 | $ 55,000 |
| Sarasota-Bradenton-Venice, FL | 12 | $ 5,137,000 | $ 428,083 | $ 153,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 9 | $ 1,272,000 | $ 141,333 | $ 106,000 |
| Punta Gorda, FL | 6 | $ 1,245,000 | $ 207,500 | $ 80,000 |
| Palm Bay-Melbourne-Titusville, FL | 5 | $ 967,000 | $ 193,400 | $ 68,000 |
| Port St. Lucie-Fort Pierce, FL | 4 | $ 1,979,000 | $ 494,750 | $ 362,000 |
| Asheville, NC | 3 | $ 793,000 | $ 264,333 | $ 123,000 |
| Charlotte-Gastonia-Concord, NC-SC | 3 | $ 217,000 | $ 72,333 | $ 233,000 |
| Atlanta-Sandy Springs-Marietta, GA | 2 | $ 144,000 | $ 72,000 | $ 118,000 |
| Brunswick, GA | 2 | $ 243,000 | $ 121,500 | $ 101,000 |
| Charleston-North Charleston, SC | 2 | $ 1,327,000 | $ 663,500 | $ 236,000 |
| Columbia, SC | 2 | $ 98,000 | $ 49,000 | $ 60,000 |
| Greenville, SC | 2 | $ 750,000 | $ 375,000 | $ 140,000 |
| Savannah, GA | 2 | $ 340,000 | $ 170,000 | $ 206,000 |
| Valdosta, GA | 2 | $ 1,611,000 | $ 805,500 | $ 321,000 |
| Gainesville, GA | 1 | $ 493,000 | $ 493,000 | $ 250,000 |
| Greenville, NC | 1 | $ 54,000 | $ 54,000 | $ 0 |
| Hickory-Lenoir-Morganton, NC | 1 | $ 400,000 | $ 400,000 | $ 174,000 |
| Panama City-Lynn Haven, FL | 1 | $ 228,000 | $ 228,000 | $ 119,000 |
| Pensacola-Ferry Pass-Brent, FL | 1 | $ 90,000 | $ 90,000 | $ 59,000 |
| Spartanburg, SC | 1 | $ 108,000 | $ 108,000 | $ 31,000 |
Mortgage Loan Application Detail Totals for Mercantile Bank in 2006
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 | 939 | $225,953,000 | $240,000 | $4,072,000 | $153,000 | $7,016,000 |
| Refinancing | 937 | $201,161,000 | $214,000 | $3,360,000 | $116,000 | $1,908,000 |
| Home Improvement | 167 | $9,391,000 | $56,000 | $600,000 | $60,000 | $320,000 |
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 | 1,278 | $293,704,000 | $229,000 | $4,072,000 | $144,000 | $7,016,000 |
| Not Provided | 351 | $67,423,000 | $192,000 | $2,000,000 | $102,000 | $1,200,000 |
| Hispanic | 201 | $38,474,000 | $191,000 | $1,287,000 | $86,000 | $900,000 |
| Black or African American | 154 | $21,001,000 | $136,000 | $760,000 | $57,000 | $724,000 |
| Asian | 31 | $8,623,000 | $278,000 | $866,000 | $159,000 | $862,000 |
| Not applicable | 15 | $5,488,000 | $365,000 | $1,200,000 | $755,000 | $4,283,000 |
| American Indian or Alaskan Native | 7 | $854,000 | $122,000 | $417,000 | $72,000 | $144,000 |
| Native Hawaiian or Other Pacific Islander | 6 | $938,000 | $156,000 | $294,000 | $53,000 | $73,000 |
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) | 1,885 | $416,756,000 | $221,000 | $4,072,000 | $136,000 | $7,016,000 |
| FHA-insured (Federal Housing Administration) | 140 | $16,135,000 | $115,000 | $243,000 | $41,000 | $240,000 |
| VA-guaranteed (Veterans Administration) | 18 | $3,614,000 | $200,000 | $408,000 | $59,000 | $131,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 1,116 | $255,720,000 | $229,000 | $4,072,000 | $151,000 | $7,016,000 |
| Application Denied By Financial Institution | 587 | $103,704,000 | $176,000 | $3,835,000 | $86,000 | $1,800,000 |
| File Closed For Incompleteness | 130 | $30,466,000 | $234,000 | $1,240,000 | $123,000 | $1,200,000 |
| Application Approved But Not Accepted | 112 | $13,038,000 | $116,000 | $740,000 | $110,000 | $743,000 |
| Application Withdrawn By Applicant | 98 | $33,577,000 | $342,000 | $2,800,000 | $165,000 | $1,908,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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's 2006 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'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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