Monroe Bank & Trust Mortgage Lending & HMDA Data, 2008
In 2008, Monroe Bank & Trust of Monroe, MI reported 338 mortgage applications totaling $30.6 million, up 6% from 2007. The average application was for $90,384, and applicants reported an average income of $62,970. 82% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Monroe, MI (264), Detroit-Livonia-Dearborn, MI (45) and Toledo, OH (13) (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 | 338 |
| Total Mortgage Loan Application Amount | $30,550,000 |
| Average Mortgage Loan Application Amount | $90,384 |
| Highest Mortgage Loan Application Amount | $2,275,000 |
| Average Applicant Income | $62,970 |
| Highest Applicant Income | $701,000 |
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Act (HMDA) records Monroe Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2008
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 | 203 | $26,599,000 | $131,000 | $2,275,000 | $59,000 | $701,000 |
| Home Improvement | 83 | $1,564,000 | $18,000 | $125,000 | $57,000 | $670,000 |
| Home Purchase | 52 | $2,387,000 | $45,000 | $150,000 | $88,000 | $630,000 |
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 | 255 | $17,424,000 | $68,000 | $1,918,000 | $80,000 | $701,000 |
| Not applicable | 65 | $12,324,000 | $189,000 | $2,275,000 | $0 | $0 |
| Not Provided | 11 | $679,000 | $61,000 | $329,000 | $49,000 | $150,000 |
| Hispanic | 4 | $103,000 | $25,000 | $49,000 | $53,000 | $89,000 |
| Black or African American | 2 | $14,000 | $7,000 | $8,000 | $66,000 | $67,000 |
| Asian | 1 | $6,000 | $6,000 | $6,000 | $19,000 | $19,000 |
| 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) | 338 | $30,550,000 | $90,000 | $2,275,000 | $63,000 | $701,000 |
| 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 | 277 | $28,901,000 | $104,000 | $2,275,000 | $64,000 | $701,000 |
| Application Denied By Financial Institution | 48 | $1,210,000 | $25,000 | $75,000 | $44,000 | $133,000 |
| Application Withdrawn By Applicant | 6 | $178,000 | $29,000 | $65,000 | $49,000 | $64,000 |
| Application Approved But Not Accepted | 6 | $246,000 | $41,000 | $125,000 | $61,000 | $119,000 |
| Loan Purchased By The Institution | 1 | $15,000 | $15,000 | $15,000 | $670,000 | $670,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 2008 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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