Merchants & Marine Bank Mortgage Lending & HMDA Data, 2004
In 2004, Merchants & Marine Bank of Pascagoula, MS reported 417 mortgage applications totaling $9.0 million, up 3% from 2003. The average application was for $21,525, and applicants reported an average income of $35,227. 91% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Pascagoula, MS (400), Mobile, AL (9) and Gulfport-Biloxi, MS (5) (applications in parentheses).
| Mortgage Company & Address | Merchants & Marine Bank P. O. Box 729 Pascagoula, MS 39567 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 417 |
| Total Mortgage Loan Application Amount | $8,976,000 |
| Average Mortgage Loan Application Amount | $21,525 |
| Highest Mortgage Loan Application Amount | $525,000 |
| Average Applicant Income | $35,227 |
| Highest Applicant Income | $400,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Merchants & Marine Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Jackson, Mississippi | 323 | $ 6,923,000 | $ 21,433 | $ 41,000 |
| George, Mississippi | 77 | $ 1,668,000 | $ 21,662 | $ 26,000 |
| Mobile, Alabama | 9 | $ 164,000 | $ 18,222 | $ 23,000 |
| Harrison, Mississippi | 5 | $ 145,000 | $ 29,000 | $ 61,000 |
| Greene, Mississippi | 2 | $ 71,000 | $ 35,500 | $ 60,000 |
| Jefferson, Louisiana | 1 | $ 5,000 | $ 5,000 | $ 37,000 |
Mortgage Loan Application Detail Totals for Merchants & Marine Bank 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 Improvement | 294 | $2,633,000 | $8,666 | $350,000 | $26,666 | $170,000 |
| Refinancing | 69 | $3,389,000 | $27,500 | $340,000 | $30,500 | $400,000 |
| Home Purchase | 54 | $2,954,000 | $59,500 | $525,000 | $50,500 | $200,000 |
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 | 332 | $7,690,000 | $15,333 | $525,000 | $33,666 | $400,000 |
| Black or African American | 78 | $793,000 | $10,000 | $60,000 | $27,000 | $71,000 |
| Hispanic | 3 | $14,000 | $4,000 | $9,000 | $23,000 | $48,000 |
| Not applicable | 3 | $427,000 | $142,000 | $340,000 | $89,000 | $182,000 |
| Asian | 1 | $52,000 | $52,000 | $52,000 | $75,000 | $75,000 |
| 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) | 417 | $8,976,000 | $14,666 | $525,000 | $33,333 | $400,000 |
| 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 | 380 | $8,089,000 | $9,666 | $525,000 | $36,666 | $400,000 |
| Application Denied By Financial Institution | 35 | $827,000 | $34,500 | $140,000 | $25,500 | $120,000 |
| Application Withdrawn By Applicant | 2 | $60,000 | $30,000 | $30,000 | $14,000 | $14,000 |
| 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 |
|---|---|---|---|---|---|---|
| Employment History | 1 | $3,000 | $3,000 | $3,000 | $8,000 | $8,000 |
| 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 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Merchants & Marine Bank'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 Merchants & Marine 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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