Monroe Bank & Trust Mortgage Lending & HMDA Data, 2016
In 2016, Monroe Bank & Trust of Monroe, MI reported 589 mortgage applications totaling $76.1 million, up 7% from 2015. The average application was for $129,242, and applicants reported an average income of $71,667. 69% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Monroe, MI (362), Detroit-Dearborn-Livonia, MI (143) and Toledo, OH (43) (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 | 589 |
| Total Mortgage Loan Application Amount | $76,124,000 |
| Average Mortgage Loan Application Amount | $129,242 |
| Highest Mortgage Loan Application Amount | $1,479,000 |
| Average Applicant Income | $71,667 |
| Highest Applicant Income | $732,000 |
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Act (HMDA) records Monroe Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2016
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 | 255 | $41,576,000 | $163,000 | $1,267,000 | $78,000 | $503,000 |
| Refinancing | 247 | $31,396,000 | $127,000 | $1,479,000 | $71,000 | $732,000 |
| Home Improvement | 87 | $3,152,000 | $36,000 | $500,000 | $55,000 | $465,000 |
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 | 442 | $52,295,000 | $118,000 | $650,000 | $88,000 | $732,000 |
| Not applicable | 113 | $20,500,000 | $181,000 | $1,479,000 | $8,000 | $189,000 |
| Not Provided | 16 | $1,506,000 | $94,000 | $300,000 | $59,000 | $185,000 |
| Hispanic | 13 | $1,453,000 | $111,000 | $450,000 | $70,000 | $257,000 |
| Black or African American | 4 | $344,000 | $86,000 | $302,000 | $68,000 | $117,000 |
| American Indian or Alaskan Native | 1 | $26,000 | $26,000 | $26,000 | $41,000 | $41,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiin 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) | 585 | $75,727,000 | $129,000 | $1,479,000 | $71,000 | $732,000 |
| FHA-insured (Federal Housing Administration) | 3 | $263,000 | $87,000 | $152,000 | $50,000 | $66,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $134,000 | $134,000 | $134,000 | $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 | 407 | $54,840,000 | $134,000 | $1,479,000 | $66,000 | $732,000 |
| Application Denied By Financial Institution | 92 | $7,880,000 | $85,000 | $650,000 | $58,000 | $313,000 |
| Application Approved But Not Accepted | 74 | $10,535,000 | $142,000 | $439,000 | $111,000 | $649,000 |
| Application Withdrawn By Applicant | 15 | $2,801,000 | $186,000 | $400,000 | $95,000 | $322,000 |
| File Closed For Incompleteness | 1 | $68,000 | $68,000 | $68,000 | $29,000 | $29,000 |
| 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 2016 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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