Monroe Bank & Trust Mortgage Lending & HMDA Data, 2019
In 2019, Monroe Bank & Trust of Monroe, MI reported 413 mortgage applications totaling $43.2 million, down 60% from 2018. The average application was for $104,709, and applicants reported an average income of $111,644. 74% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Monroe, MI (228), Detroit-Dearborn-Livonia, MI (131) 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 | 413 |
| Total Mortgage Loan Application Amount | $43,245,000 |
| Average Mortgage Loan Application Amount | $104,709 |
| Highest Mortgage Loan Application Amount | $2,005,000 |
| Average Applicant Income | $111,644 |
| Highest Applicant Income | $2,604,000 |
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Act (HMDA) records Monroe Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Monroe, MI | 228 | $ 16,700,000 | $ 73,245 | $ 91,000 |
| Detroit-Dearborn-Livonia, MI | 131 | $ 17,385,000 | $ 132,709 | $ 109,000 |
| Toledo, OH | 25 | $ 2,115,000 | $ 84,600 | $ 98,000 |
| Ann Arbor, MI | 8 | $ 870,000 | $ 108,750 | $ 98,000 |
| Outside any metro area | 8 | $ 1,140,000 | $ 142,500 | $ 52,000 |
| Warren-Troy-Farmington Hills, MI | 7 | $ 3,475,000 | $ 496,428 | $ 252,000 |
| Jackson, MI | 2 | $ 940,000 | $ 470,000 | $ 1,412,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 155,000 | $ 155,000 | $ 152,000 |
| Kalamazoo-Portage, MI | 1 | $ 75,000 | $ 75,000 | $ 801,000 |
Mortgage Loan Application Detail Totals for Monroe Bank & Trust in 2019
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 | 127 | $6,535,000 | $51,000 | $255,000 | $76,000 | $246,000 |
| Refinancing | 102 | $11,170,000 | $109,000 | $775,000 | $122,000 | $1,209,000 |
| Home Purchase | 99 | $17,105,000 | $172,000 | $2,005,000 | $119,000 | $801,000 |
| Other Purpose | 61 | $6,025,000 | $98,000 | $1,025,000 | $160,000 | $2,604,000 |
| Cash-out Refinancing | 24 | $2,410,000 | $100,000 | $365,000 | $103,000 | $319,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 307 | $28,305,000 | $92,000 | $1,025,000 | $111,000 | $2,604,000 |
| Not applicable | 78 | $10,900,000 | $139,000 | $1,135,000 | $0 | $0 |
| Not Provided | 16 | $1,240,000 | $77,000 | $325,000 | $94,000 | $217,000 |
| Black or African American | 8 | $2,330,000 | $291,000 | $2,005,000 | $84,000 | $186,000 |
| Hispanic | 2 | $170,000 | $85,000 | $155,000 | $70,000 | $79,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 413 | $43,245,000 | $104,000 | $2,005,000 | $110,000 | $2,604,000 |
| 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 | 305 | $31,265,000 | $102,000 | $1,135,000 | $117,000 | $2,604,000 |
| Application Denied By Financial Institution | 72 | $7,520,000 | $104,000 | $2,005,000 | $84,000 | $1,209,000 |
| Application Approved But Not Accepted | 25 | $3,275,000 | $131,000 | $365,000 | $121,000 | $801,000 |
| Application Withdrawn By Applicant | 10 | $830,000 | $83,000 | $495,000 | $91,000 | $158,000 |
| File Closed For Incompleteness | 1 | $355,000 | $355,000 | $355,000 | $133,000 | $133,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 341 | $35,725,000 | $104,000 | $1,135,000 | $117,000 | $2,604,000 |
| Credit History | 31 | $1,355,000 | $43,000 | $245,000 | $80,000 | $480,000 |
| Debt-To-Income Ratio | 29 | $5,005,000 | $172,000 | $2,005,000 | $89,000 | $1,209,000 |
| Collateral | 7 | $685,000 | $97,000 | $255,000 | $72,000 | $109,000 |
| Other | 3 | $315,000 | $105,000 | $205,000 | $160,000 | $242,000 |
| Unverifiable Information | 1 | $125,000 | $125,000 | $125,000 | $84,000 | $84,000 |
| Employment History | 1 | $35,000 | $35,000 | $35,000 | $24,000 | $24,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Monroe Bank & Trust's 2019 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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