Monroe Bank & Trust Mortgage Lending & HMDA Data, 2006
In 2006, Monroe Bank & Trust of Monroe, MI reported 414 mortgage applications totaling $15.6 million, up 10% from 2005. The average application was for $37,652, and applicants reported an average income of $58,753. 76% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Monroe, MI (328), Detroit-Livonia-Dearborn, MI (65) and Ann Arbor, MI (11) (applications in parentheses).
| Mortgage Company & Address | Monroe Bank & Trust 102 E Front St Monroe, MI 48161 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 414 |
| Total Mortgage Loan Application Amount | $15,588,000 |
| Average Mortgage Loan Application Amount | $37,652 |
| Highest Mortgage Loan Application Amount | $400,000 |
| Average Applicant Income | $58,753 |
| Highest Applicant Income | $400,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Monroe Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Monroe, Michigan | 328 | $ 11,367,000 | $ 34,655 | $ 59,000 |
| Wayne, Michigan | 65 | $ 3,413,000 | $ 52,507 | $ 58,000 |
| Washtenaw, Michigan | 11 | $ 387,000 | $ 35,181 | $ 46,000 |
| Lucas, Ohio | 6 | $ 302,000 | $ 50,333 | $ 40,000 |
| Lenawee, Michigan | 2 | $ 20,000 | $ 10,000 | $ 69,000 |
| Gladwin, Michigan | 1 | $ 42,000 | $ 42,000 | $ 175,000 |
| Montmorency, Michigan | 1 | $ 57,000 | $ 57,000 | $ 76,000 |
Mortgage Loan Application Detail Totals for Monroe Bank & Trust 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 Improvement | 192 | $4,237,000 | $22,000 | $160,000 | $58,000 | $400,000 |
| Home Purchase | 133 | $5,775,000 | $43,000 | $200,000 | $57,000 | $253,000 |
| Refinancing | 89 | $5,576,000 | $62,000 | $400,000 | $63,000 | $400,000 |
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 | 378 | $13,584,000 | $35,000 | $400,000 | $62,000 | $400,000 |
| Not applicable | 13 | $1,332,000 | $102,000 | $200,000 | $0 | $0 |
| Black or African American | 10 | $332,000 | $33,000 | $102,000 | $39,000 | $90,000 |
| Not Provided | 6 | $165,000 | $27,000 | $90,000 | $40,000 | $76,000 |
| Hispanic | 3 | $116,000 | $38,000 | $55,000 | $79,000 | $141,000 |
| American Indian or Alaskan Native | 2 | $11,000 | $5,000 | $8,000 | $54,000 | $80,000 |
| Asian | 1 | $20,000 | $20,000 | $20,000 | $32,000 | $32,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $28,000 | $28,000 | $28,000 | $35,000 | $35,000 |
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) | 414 | $15,588,000 | $37,000 | $400,000 | $59,000 | $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 | 315 | $12,468,000 | $39,000 | $400,000 | $64,000 | $400,000 |
| Application Denied By Financial Institution | 88 | $2,479,000 | $28,000 | $140,000 | $41,000 | $131,000 |
| Application Withdrawn By Applicant | 6 | $323,000 | $53,000 | $138,000 | $75,000 | $139,000 |
| Application Approved But Not Accepted | 5 | $318,000 | $63,000 | $160,000 | $36,000 | $65,000 |
| 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 Monroe Bank & Trust'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 Monroe Bank & Trust'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 Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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