Monroe Bank & Trust Mortgage Lending & HMDA Data, 2010
In 2010, Monroe Bank & Trust of Monroe, MI reported 191 mortgage applications totaling $23.0 million, down 20% from 2009. The average application was for $120,502, and applicants reported an average income of $59,261. 74% of its applications resulted in an originated loan and 20% were denied. Its largest markets were Monroe, MI (144), Detroit-Livonia-Dearborn, MI (29) and Ann Arbor, MI (3) (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 | 191 |
| Total Mortgage Loan Application Amount | $23,016,000 |
| Average Mortgage Loan Application Amount | $120,502 |
| Highest Mortgage Loan Application Amount | $1,518,000 |
| Average Applicant Income | $59,261 |
| Highest Applicant Income | $1,076,000 |
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Act (HMDA) records Monroe Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 144 | $ 18,117,000 | $ 125,812 | $ 51,000 |
| Detroit-Livonia-Dearborn, MI | 29 | $ 3,288,000 | $ 113,379 | $ 50,000 |
| Ann Arbor, MI | 3 | $ 479,000 | $ 159,666 | $ 202,000 |
| Toledo, OH | 3 | $ 346,000 | $ 115,333 | $ 93,000 |
| Warren-Troy-Farmington Hills, MI | 3 | $ 317,000 | $ 105,666 | $ 348,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 130,000 | $ 130,000 | $ 61,000 |
Mortgage Loan Application Detail Totals for Monroe Bank & Trust in 2010
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 | 131 | $21,659,000 | $165,000 | $1,518,000 | $60,000 | $1,076,000 |
| Home Improvement | 43 | $506,000 | $11,000 | $100,000 | $50,000 | $189,000 |
| Home Purchase | 17 | $851,000 | $50,000 | $130,000 | $77,000 | $523,000 |
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 | 141 | $11,343,000 | $80,000 | $1,400,000 | $62,000 | $560,000 |
| Not applicable | 39 | $10,344,000 | $265,000 | $1,518,000 | $31,000 | $1,076,000 |
| Not Provided | 10 | $1,324,000 | $132,000 | $939,000 | $126,000 | $523,000 |
| Black or African American | 1 | $5,000 | $5,000 | $5,000 | $63,000 | $63,000 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 190 | $22,859,000 | $120,000 | $1,518,000 | $59,000 | $1,076,000 |
| FHA-insured (Federal Housing Administration) | 1 | $157,000 | $157,000 | $157,000 | $86,000 | $86,000 |
| 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 | 142 | $20,465,000 | $144,000 | $1,518,000 | $61,000 | $1,076,000 |
| Application Denied By Financial Institution | 39 | $1,515,000 | $38,000 | $263,000 | $48,000 | $118,000 |
| Application Approved But Not Accepted | 6 | $808,000 | $134,000 | $220,000 | $76,000 | $123,000 |
| Preapproval Denied by Financial Institution | 4 | $228,000 | $57,000 | $80,000 | $46,000 | $95,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
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 2010 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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