Monroe Bank & Trust Mortgage Lending & HMDA Data, 2007
In 2007, Monroe Bank & Trust of Monroe, MI reported 320 mortgage applications totaling $22.1 million, down 23% from 2006. The average application was for $69,040, and applicants reported an average income of $68,056. 79% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Monroe, MI (252), Detroit-Livonia-Dearborn, MI (48) and Ann Arbor, MI (9) (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 | 320 |
| Total Mortgage Loan Application Amount | $22,093,000 |
| Average Mortgage Loan Application Amount | $69,040 |
| Highest Mortgage Loan Application Amount | $3,940,000 |
| Average Applicant Income | $68,056 |
| Highest Applicant Income | $1,100,000 |
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Act (HMDA) records Monroe Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Monroe Bank & Trust in 2007
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 | 140 | $2,345,000 | $16,000 | $100,000 | $59,000 | $780,000 |
| Refinancing | 126 | $10,710,000 | $85,000 | $1,652,000 | $73,000 | $1,100,000 |
| Home Purchase | 54 | $9,038,000 | $167,000 | $3,940,000 | $80,000 | $711,000 |
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 | 282 | $13,056,000 | $46,000 | $1,652,000 | $69,000 | $780,000 |
| Not applicable | 21 | $8,596,000 | $409,000 | $3,940,000 | $52,000 | $1,100,000 |
| Hispanic | 7 | $215,000 | $30,000 | $94,000 | $34,000 | $72,000 |
| Black or African American | 3 | $51,000 | $17,000 | $42,000 | $63,000 | $93,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $49,000 | $24,000 | $35,000 | $7,000 | $15,000 |
| American Indian or Alaskan Native | 2 | $15,000 | $7,000 | $11,000 | $41,000 | $67,000 |
| Asian | 2 | $106,000 | $53,000 | $102,000 | $379,000 | $711,000 |
| Not Provided | 1 | $5,000 | $5,000 | $5,000 | $37,000 | $37,000 |
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) | 319 | $22,038,000 | $69,000 | $3,940,000 | $68,000 | $1,100,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $55,000 | $55,000 | $55,000 | $70,000 | $70,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 254 | $20,601,000 | $81,000 | $3,940,000 | $75,000 | $1,100,000 |
| Application Denied By Financial Institution | 59 | $1,095,000 | $18,000 | $80,000 | $37,000 | $110,000 |
| Application Withdrawn By Applicant | 6 | $387,000 | $64,000 | $340,000 | $70,000 | $110,000 |
| Application Approved But Not Accepted | 1 | $10,000 | $10,000 | $10,000 | $64,000 | $64,000 |
| 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 2007 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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