Merchants & Farmers Bank Mortgage Lending & HMDA Data, 2017
In 2017, Merchants & Farmers Bank of Holly Springs, MS reported 52 mortgage applications totaling $2.4 million, down 25% from 2016. The average application was for $46,961, and applicants reported an average income of $64,692. 83% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Memphis, TN-MS-AR (43), Jackson, TN (1) and Las Vegas-Henderson-Paradise, NV (1) (applications in parentheses).
| Mortgage Company & Address | Merchants & Farmers Bank 650 Hwy 7 South Holly Springs, MS 38635 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 52 |
| Total Mortgage Loan Application Amount | $2,442,000 |
| Average Mortgage Loan Application Amount | $46,961 |
| Highest Mortgage Loan Application Amount | $184,000 |
| Average Applicant Income | $64,692 |
| Highest Applicant Income | $276,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Merchants & Farmers Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Marshall, Mississippi | 20 | $ 891,000 | $ 44,550 | $ 47,000 |
| Benton, Mississippi | 18 | $ 475,000 | $ 26,388 | $ 57,000 |
| DeSoto, Mississippi | 3 | $ 310,000 | $ 103,333 | $ 63,000 |
| Lafayette, Mississippi | 3 | $ 165,000 | $ 55,000 | $ 30,000 |
| Tate, Mississippi | 2 | $ 80,000 | $ 40,000 | $ 173,000 |
| Union, Mississippi | 2 | $ 189,000 | $ 94,500 | $ 47,000 |
| Tippah, Mississippi | 1 | $ 41,000 | $ 41,000 | $ 105,000 |
| Yalobusha, Mississippi | 1 | $ 35,000 | $ 35,000 | $ 92,000 |
| Clark, Nevada | 1 | $ 126,000 | $ 126,000 | $ 206,000 |
| Chester, Tennessee | 1 | $ 130,000 | $ 130,000 | $ 276,000 |
Mortgage Loan Application Detail Totals for Merchants & Farmers Bank in 2017
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 Improvement | 22 | $323,000 | $14,000 | $49,000 | $62,000 | $241,000 |
| Refinancing | 16 | $1,149,000 | $71,000 | $184,000 | $69,000 | $276,000 |
| Home Purchase | 14 | $970,000 | $69,000 | $156,000 | $64,000 | $206,000 |
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 | 34 | $1,596,000 | $46,000 | $184,000 | $83,000 | $276,000 |
| Black or African American | 12 | $304,000 | $25,000 | $98,000 | $40,000 | $114,000 |
| Not applicable | 4 | $465,000 | $116,000 | $156,000 | $0 | $0 |
| Hispanic | 1 | $43,000 | $43,000 | $43,000 | $48,000 | $48,000 |
| Asian | 1 | $34,000 | $34,000 | $34,000 | $16,000 | $16,000 |
| American Indian or Alaskan Native | 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) | 52 | $2,442,000 | $46,000 | $184,000 | $65,000 | $276,000 |
| 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 | 43 | $2,011,000 | $46,000 | $166,000 | $64,000 | $241,000 |
| Application Denied By Financial Institution | 7 | $378,000 | $54,000 | $184,000 | $72,000 | $276,000 |
| Application Withdrawn By Applicant | 1 | $28,000 | $28,000 | $28,000 | $36,000 | $36,000 |
| Application Approved But Not Accepted | 1 | $25,000 | $25,000 | $25,000 | $76,000 | $76,000 |
| 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 |
|---|---|---|---|---|---|---|
| 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 Merchants & Farmers Bank's 2017 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 & 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 Mississippi, download the full spreadsheet
with aggregated HMDA statistics today.
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