Monroe Bank & Trust Mortgage Lending & HMDA Data, 2014
In 2014, Monroe Bank & Trust of Monroe, MI reported 596 mortgage applications totaling $61.4 million, down 14% from 2013. The average application was for $103,097, and applicants reported an average income of $59,437. 68% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Monroe, MI (373), Detroit-Dearborn-Livonia, MI (158) and Toledo, OH (25) (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 | 596 |
| Total Mortgage Loan Application Amount | $61,446,000 |
| Average Mortgage Loan Application Amount | $103,097 |
| Highest Mortgage Loan Application Amount | $2,686,000 |
| Average Applicant Income | $59,437 |
| Highest Applicant Income | $1,200,000 |
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Act (HMDA) records Monroe Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 373 | $ 35,914,000 | $ 96,284 | $ 64,000 |
| Wayne, Michigan | 158 | $ 18,809,000 | $ 119,044 | $ 52,000 |
| Lucas, Ohio | 24 | $ 2,176,000 | $ 90,666 | $ 24,000 |
| Lenawee, Michigan | 14 | $ 867,000 | $ 61,928 | $ 55,000 |
| Washtenaw, Michigan | 12 | $ 1,223,000 | $ 101,916 | $ 48,000 |
| Oakland, Michigan | 5 | $ 480,000 | $ 96,000 | $ 50,000 |
| Lee, Florida | 2 | $ 1,036,000 | $ 518,000 | $ 217,000 |
| Prince George's, Maryland | 1 | $ 50,000 | $ 50,000 | $ 160,000 |
| Genesee, Michigan | 1 | $ 134,000 | $ 134,000 | $ 90,000 |
| Hillsdale, Michigan | 1 | $ 52,000 | $ 52,000 | $ 31,000 |
| Huron, Michigan | 1 | $ 161,000 | $ 161,000 | $ 0 |
| Iosco, Michigan | 1 | $ 62,000 | $ 62,000 | $ 96,000 |
| Jackson, Michigan | 1 | $ 313,000 | $ 313,000 | $ 76,000 |
| Macomb, Michigan | 1 | $ 4,000 | $ 4,000 | $ 54,000 |
| Wood, Ohio | 1 | $ 165,000 | $ 165,000 | $ 38,000 |
Mortgage Loan Application Detail Totals for Monroe Bank & Trust in 2014
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 |
|---|---|---|---|---|---|---|
| Refinancing | 230 | $27,245,000 | $118,000 | $2,686,000 | $58,000 | $373,000 |
| Home Purchase | 227 | $31,215,000 | $137,000 | $2,500,000 | $63,000 | $435,000 |
| Home Improvement | 139 | $2,986,000 | $21,000 | $300,000 | $56,000 | $1,200,000 |
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 | 466 | $41,554,000 | $89,000 | $904,000 | $69,000 | $1,200,000 |
| Not applicable | 101 | $17,083,000 | $169,000 | $2,686,000 | $10,000 | $253,000 |
| Not Provided | 17 | $2,251,000 | $132,000 | $460,000 | $94,000 | $332,000 |
| Hispanic | 6 | $213,000 | $35,000 | $114,000 | $41,000 | $80,000 |
| Asian | 3 | $259,000 | $86,000 | $170,000 | $25,000 | $77,000 |
| Black or African American | 3 | $86,000 | $28,000 | $50,000 | $115,000 | $160,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 582 | $59,969,000 | $103,000 | $2,686,000 | $59,000 | $1,200,000 |
| FHA-insured (Federal Housing Administration) | 13 | $1,365,000 | $105,000 | $179,000 | $58,000 | $127,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $112,000 | $112,000 | $112,000 | $69,000 | $69,000 |
| 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 | 403 | $42,011,000 | $104,000 | $2,686,000 | $59,000 | $1,200,000 |
| Application Denied By Financial Institution | 116 | $8,851,000 | $76,000 | $900,000 | $59,000 | $435,000 |
| Application Approved But Not Accepted | 38 | $4,203,000 | $110,000 | $362,000 | $74,000 | $191,000 |
| Application Withdrawn By Applicant | 29 | $5,135,000 | $177,000 | $2,500,000 | $43,000 | $225,000 |
| File Closed For Incompleteness | 10 | $1,246,000 | $124,000 | $460,000 | $55,000 | $332,000 |
| 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 2014 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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