Monroe Bank & Trust Mortgage Lending & HMDA Data, 2017
In 2017, Monroe Bank & Trust of Monroe, MI reported 574 mortgage applications totaling $81.0 million, down 3% from 2016. The average application was for $141,120, and applicants reported an average income of $63,383. 71% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Monroe, MI (350), Detroit-Dearborn-Livonia, MI (142) and Toledo, OH (37) (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 | 574 |
| Total Mortgage Loan Application Amount | $81,003,000 |
| Average Mortgage Loan Application Amount | $141,120 |
| Highest Mortgage Loan Application Amount | $8,148,000 |
| Average Applicant Income | $63,383 |
| Highest Applicant Income | $677,000 |
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Act (HMDA) records Monroe Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 350 | $ 41,676,000 | $ 119,074 | $ 69,000 |
| Wayne, Michigan | 142 | $ 20,671,000 | $ 145,570 | $ 49,000 |
| Lucas, Ohio | 35 | $ 10,490,000 | $ 299,714 | $ 27,000 |
| Washtenaw, Michigan | 15 | $ 2,679,000 | $ 178,600 | $ 109,000 |
| Lenawee, Michigan | 7 | $ 905,000 | $ 129,285 | $ 74,000 |
| Oakland, Michigan | 6 | $ 1,518,000 | $ 253,000 | $ 47,000 |
| Hillsdale, Michigan | 3 | $ 361,000 | $ 120,333 | $ 55,000 |
| Gladwin, Michigan | 2 | $ 360,000 | $ 180,000 | $ 123,000 |
| Wood, Ohio | 2 | $ 863,000 | $ 431,500 | $ 48,000 |
| Sarasota, Florida | 1 | $ 338,000 | $ 338,000 | $ 429,000 |
| Alcona, Michigan | 1 | $ 32,000 | $ 32,000 | $ 141,000 |
| Branch, Michigan | 1 | $ 92,000 | $ 92,000 | $ 0 |
| Charlevoix, Michigan | 1 | $ 100,000 | $ 100,000 | $ 130,000 |
| Clare, Michigan | 1 | $ 98,000 | $ 98,000 | $ 69,000 |
| Ingham, Michigan | 1 | $ 3,000 | $ 3,000 | $ 62,000 |
| Jackson, Michigan | 1 | $ 174,000 | $ 174,000 | $ 58,000 |
| Livingston, Michigan | 1 | $ 60,000 | $ 60,000 | $ 0 |
| Macomb, Michigan | 1 | $ 300,000 | $ 300,000 | $ 116,000 |
| Manistee, Michigan | 1 | $ 76,000 | $ 76,000 | $ 32,000 |
| Ogemaw, Michigan | 1 | $ 89,000 | $ 89,000 | $ 296,000 |
| Otsego, Michigan | 1 | $ 118,000 | $ 118,000 | $ 112,000 |
Mortgage Loan Application Detail Totals for Monroe Bank & Trust 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 Purchase | 275 | $45,453,000 | $165,000 | $1,000,000 | $72,000 | $643,000 |
| Refinancing | 204 | $34,145,000 | $167,000 | $8,148,000 | $58,000 | $677,000 |
| Home Improvement | 95 | $1,405,000 | $14,000 | $178,000 | $50,000 | $151,000 |
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 | 429 | $49,205,000 | $114,000 | $1,000,000 | $78,000 | $677,000 |
| Not applicable | 113 | $28,586,000 | $252,000 | $8,148,000 | $6,000 | $151,000 |
| Not Provided | 12 | $1,367,000 | $113,000 | $424,000 | $85,000 | $236,000 |
| Hispanic | 10 | $846,000 | $84,000 | $168,000 | $71,000 | $156,000 |
| Black or African American | 7 | $374,000 | $53,000 | $82,000 | $61,000 | $105,000 |
| Asian | 3 | $625,000 | $208,000 | $316,000 | $94,000 | $130,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 570 | $80,455,000 | $141,000 | $8,148,000 | $64,000 | $677,000 |
| FHA-insured (Federal Housing Administration) | 3 | $425,000 | $141,000 | $273,000 | $21,000 | $26,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $123,000 | $123,000 | $123,000 | $33,000 | $33,000 |
| 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 | 410 | $62,914,000 | $153,000 | $8,148,000 | $63,000 | $677,000 |
| Application Denied By Financial Institution | 87 | $8,115,000 | $93,000 | $400,000 | $53,000 | $224,000 |
| Application Approved But Not Accepted | 56 | $6,745,000 | $120,000 | $360,000 | $98,000 | $357,000 |
| Application Withdrawn By Applicant | 20 | $3,159,000 | $157,000 | $1,000,000 | $33,000 | $121,000 |
| File Closed For Incompleteness | 1 | $70,000 | $70,000 | $70,000 | $51,000 | $51,000 |
| 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 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 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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