Merchants and Farmers Bank Mortgage Lending & HMDA Data, 2018
In 2018, Merchants and Farmers Bank of Dumas, AR reported 41 mortgage applications totaling $5.1 million. The average application was for $124,756, and applicants reported an average income of $192,414. 88% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Little Rock-North Little Rock-Conway, AR (15), Crestview-Fort Walton Beach-Destin, FL (1) and Hot Springs, AR (1) (applications in parentheses).
| Mortgage Company & Address | Merchants and Farmers Bank 500 Highway 65 S Dumas, AR 71639 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 |
| Total Number of Mortgage Applications | 41 |
| Total Mortgage Loan Application Amount | $5,115,000 |
| Average Mortgage Loan Application Amount | $124,756 |
| Highest Mortgage Loan Application Amount | $455,000 |
| Average Applicant Income | $192,414 |
| Highest Applicant Income | $2,063,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Merchants and Farmers Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Desha, Arkansas | 18 | $ 1,330,000 | $ 73,888 | $ 257,000 |
| Saline, Arkansas | 11 | $ 1,775,000 | $ 161,363 | $ 154,000 |
| Pulaski, Arkansas | 2 | $ 170,000 | $ 85,000 | $ 83,000 |
| Ashley, Arkansas | 1 | $ 195,000 | $ 195,000 | $ 0 |
| Chicot, Arkansas | 1 | $ 35,000 | $ 35,000 | $ 0 |
| Conway, Arkansas | 1 | $ 455,000 | $ 455,000 | $ 0 |
| Garland, Arkansas | 1 | $ 25,000 | $ 25,000 | $ 52,000 |
| Grant, Arkansas | 1 | $ 25,000 | $ 25,000 | $ 113,000 |
| Lincoln, Arkansas | 1 | $ 125,000 | $ 125,000 | $ 173,000 |
| Lonoke, Arkansas | 1 | $ 455,000 | $ 455,000 | $ 258,000 |
| Van Buren, Arkansas | 1 | $ 175,000 | $ 175,000 | $ 94,000 |
| Okaloosa, Florida | 1 | $ 325,000 | $ 325,000 | $ 146,000 |
| Jasper, Mississippi | 1 | $ 25,000 | $ 25,000 | $ 111,000 |
Mortgage Loan Application Detail Totals for Merchants and Farmers Bank in 2018
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 | 16 | $1,930,000 | $120,000 | $325,000 | $173,000 | $832,000 |
| Cash-out Refinancing | 9 | $1,175,000 | $130,000 | $455,000 | $111,000 | $258,000 |
| Refinancing | 9 | $1,205,000 | $133,000 | $325,000 | $129,000 | $257,000 |
| Home Improvement | 5 | $725,000 | $145,000 | $455,000 | $563,000 | $2,063,000 |
| Other Purpose | 2 | $80,000 | $40,000 | $45,000 | $73,000 | $123,000 |
| 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 | 22 | $3,090,000 | $140,000 | $455,000 | $137,000 | $832,000 |
| Not applicable | 11 | $1,425,000 | $129,000 | $455,000 | $52,000 | $52,000 |
| Black or African American | 4 | $110,000 | $27,000 | $55,000 | $714,000 | $2,063,000 |
| Hispanic | 1 | $75,000 | $75,000 | $75,000 | $26,000 | $26,000 |
| American Indian or Alaskan Native | 1 | $325,000 | $325,000 | $325,000 | $257,000 | $257,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 41 | $5,115,000 | $124,000 | $455,000 | $196,000 | $2,063,000 |
| 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 | 36 | $4,950,000 | $137,000 | $455,000 | $138,000 | $832,000 |
| Application Denied By Financial Institution | 5 | $165,000 | $33,000 | $55,000 | $541,000 | $2,063,000 |
| 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 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 40 | $4,790,000 | $119,000 | $455,000 | $194,000 | $2,063,000 |
| Not applicable | 1 | $325,000 | $325,000 | $325,000 | $257,000 | $257,000 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Merchants and Farmers Bank's 2018 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 Merchants and Farmers 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.
For a list of all lenders in Arkansas, download the full spreadsheet
with aggregated HMDA statistics today.
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