Mills County Bank NA Mortgage Lending & HMDA Data, 2005
In 2005, Mills County Bank NA of Glenwood, IA reported 175 mortgage applications totaling $12.7 million, down 32% from 2004. The average application was for $72,474, and applicants reported an average income of $50,668. 70% of its applications resulted in an originated loan and 20% were denied. Its largest markets were Omaha-Council Bluffs, NE-IA (4) and Cedar Rapids, IA (1).
| Mortgage Company & Address | Mills County Bank NA 102 South Locust Glenwood, IA 51534 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 |
| Total Number of Mortgage Applications | 175 |
| Total Mortgage Loan Application Amount | $12,683,000 |
| Average Mortgage Loan Application Amount | $72,474 |
| Highest Mortgage Loan Application Amount | $352,000 |
| Average Applicant Income | $50,668 |
| Highest Applicant Income | $223,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mills County Bank NA filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mills County Bank NA 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 | 99 | $7,675,000 | $72,333 | $352,000 | $55,333 | $223,000 |
| Refinancing | 51 | $4,422,000 | $79,666 | $253,000 | $52,333 | $126,000 |
| Home Improvement | 25 | $586,000 | $19,500 | $165,000 | $90,000 | $208,000 |
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 | 171 | $12,588,000 | $60,250 | $352,000 | $66,750 | $223,000 |
| Not Provided | 2 | $11,000 | $5,000 | $7,000 | $42,000 | $53,000 |
| Hispanic | 2 | $84,000 | $42,000 | $59,000 | $58,000 | $90,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 129 | $9,118,000 | $58,250 | $352,000 | $72,750 | $223,000 |
| FHA-insured (Federal Housing Administration) | 30 | $2,164,000 | $78,000 | $163,000 | $36,000 | $76,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 8 | $719,000 | $89,000 | $190,000 | $40,000 | $49,000 |
| VA-guaranteed (Veterans Administration) | 8 | $682,000 | $85,000 | $139,000 | $45,000 | $72,000 |
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 | 122 | $9,397,000 | $60,000 | $352,000 | $73,000 | $223,000 |
| Application Denied By Financial Institution | 35 | $1,911,000 | $54,000 | $176,000 | $38,000 | $79,000 |
| Application Withdrawn By Applicant | 18 | $1,375,000 | $80,000 | $197,000 | $43,000 | $143,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 14 | $837,000 | $59,000 | $176,000 | $37,000 | $71,000 |
| Credit History | 13 | $562,000 | $43,000 | $150,000 | $34,000 | $60,000 |
| Collateral | 5 | $422,000 | $84,000 | $165,000 | $55,000 | $79,000 |
| Employment History | 2 | $52,000 | $26,000 | $47,000 | $35,000 | $46,000 |
| Other | 1 | $38,000 | $38,000 | $38,000 | $29,000 | $29,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 Mills County Bank NA'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 Mills County Bank NA'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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