Mutualbank Mortgage Lending & HMDA Data, 2012
In 2012, Mutualbank of Muncie, IN reported 2,514 mortgage applications totaling $304.1 million, up 32% from 2011. The average application was for $120,969, and applicants reported an average income of $86,548. 69% of its applications resulted in an originated loan and 10% were denied. Its largest markets were South Bend-Mishawaka, IN-MI (535), Muncie, IN (506) and Elkhart-Goshen, IN (144) (applications in parentheses).
| Mortgage Company & Address | Mutualbank 110 E Charles St Muncie, IN 47305 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2012 2011 |
| Total Number of Mortgage Applications | 2,514 |
| Total Mortgage Loan Application Amount | $304,118,000 |
| Average Mortgage Loan Application Amount | $120,969 |
| Highest Mortgage Loan Application Amount | $1,222,000 |
| Average Applicant Income | $86,548 |
| Highest Applicant Income | $1,351,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mutualbank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Delaware, Indiana | 506 | $ 50,583,000 | $ 99,966 | $ 82,000 |
| St. Joseph, Indiana | 504 | $ 63,927,000 | $ 126,839 | $ 86,000 |
| Kosciusko, Indiana | 321 | $ 45,602,000 | $ 142,062 | $ 88,000 |
| Grant, Indiana | 268 | $ 23,936,000 | $ 89,313 | $ 68,000 |
| Elkhart, Indiana | 144 | $ 21,783,000 | $ 151,270 | $ 92,000 |
| Randolph, Indiana | 115 | $ 8,575,000 | $ 74,565 | $ 66,000 |
| Berrien, Michigan | 82 | $ 19,870,000 | $ 242,317 | $ 205,000 |
| Cass, Michigan | 31 | $ 5,770,000 | $ 186,129 | $ 130,000 |
| Madison, Indiana | 24 | $ 2,470,000 | $ 102,916 | $ 99,000 |
| Wabash, Indiana | 24 | $ 2,228,000 | $ 92,833 | $ 84,000 |
| Allen, Indiana | 20 | $ 3,422,000 | $ 171,100 | $ 104,000 |
| Hamilton, Indiana | 19 | $ 3,620,000 | $ 190,526 | $ 117,000 |
| Jay, Indiana | 15 | $ 1,080,000 | $ 72,000 | $ 54,000 |
| Blackford, Indiana | 12 | $ 1,214,000 | $ 101,166 | $ 70,000 |
| Noble, Indiana | 10 | $ 1,240,000 | $ 124,000 | $ 83,000 |
| LaPorte, Indiana | 8 | $ 1,759,000 | $ 219,875 | $ 245,000 |
| Marion, Indiana | 8 | $ 884,000 | $ 110,500 | $ 95,000 |
| Miami, Indiana | 8 | $ 542,000 | $ 67,750 | $ 86,000 |
| Henry, Indiana | 7 | $ 704,000 | $ 100,571 | $ 71,000 |
| Marshall, Indiana | 7 | $ 855,000 | $ 122,142 | $ 79,000 |
| Howard, Indiana | 6 | $ 731,000 | $ 121,833 | $ 78,000 |
| LaGrange, Indiana | 5 | $ 514,000 | $ 102,800 | $ 70,000 |
| Steuben, Indiana | 5 | $ 1,382,000 | $ 276,400 | $ 96,000 |
| Whitley, Indiana | 5 | $ 748,000 | $ 149,600 | $ 80,000 |
| Fulton, Indiana | 4 | $ 549,000 | $ 137,250 | $ 115,000 |
| Huntington, Indiana | 4 | $ 324,000 | $ 81,000 | $ 89,000 |
| Johnson, Indiana | 4 | $ 607,000 | $ 151,750 | $ 97,000 |
| Tipton, Indiana | 3 | $ 445,000 | $ 148,333 | $ 120,000 |
| Wells, Indiana | 3 | $ 264,000 | $ 88,000 | $ 25,000 |
| St. Joseph, Michigan | 3 | $ 692,000 | $ 230,666 | $ 237,000 |
| Van Buren, Michigan | 3 | $ 842,000 | $ 280,666 | $ 430,000 |
| Cook, Illinois | 2 | $ 196,000 | $ 98,000 | $ 87,000 |
| Hancock, Indiana | 2 | $ 218,000 | $ 109,000 | $ 360,000 |
| Porter, Indiana | 2 | $ 368,000 | $ 184,000 | $ 110,000 |
| Tippecanoe, Indiana | 2 | $ 144,000 | $ 72,000 | $ 98,000 |
| Wayne, Indiana | 2 | $ 316,000 | $ 158,000 | $ 113,000 |
| Riverside, California | 1 | $ 417,000 | $ 417,000 | $ 405,000 |
| Routt, Colorado | 1 | $ 597,000 | $ 597,000 | $ 520,000 |
| DuPage, Illinois | 1 | $ 417,000 | $ 417,000 | $ 166,000 |
| Will, Illinois | 1 | $ 253,000 | $ 253,000 | $ 165,000 |
| Adams, Indiana | 1 | $ 148,000 | $ 148,000 | $ 105,000 |
| Brown, Indiana | 1 | $ 186,000 | $ 186,000 | $ 113,000 |
| Dearborn, Indiana | 1 | $ 122,000 | $ 122,000 | $ 40,000 |
| DeKalb, Indiana | 1 | $ 50,000 | $ 50,000 | $ 72,000 |
| Hendricks, Indiana | 1 | $ 85,000 | $ 85,000 | $ 56,000 |
| Lake, Indiana | 1 | $ 122,000 | $ 122,000 | $ 127,000 |
| Monroe, Indiana | 1 | $ 148,000 | $ 148,000 | $ 61,000 |
| Kent, Michigan | 1 | $ 210,000 | $ 210,000 | $ 103,000 |
| Lake, Michigan | 1 | $ 143,000 | $ 143,000 | $ 163,000 |
| Lenawee, Michigan | 1 | $ 43,000 | $ 43,000 | $ 29,000 |
| Muskegon, Michigan | 1 | $ 394,000 | $ 394,000 | $ 1,097,000 |
| Klamath, Oregon | 1 | $ 38,000 | $ 38,000 | $ 65,000 |
Mortgage Loan Application Detail Totals for Mutualbank in 2012
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 | 1,628 | $193,706,000 | $118,000 | $1,057,000 | $85,000 | $1,351,000 |
| Home Purchase | 728 | $95,244,000 | $130,000 | $1,222,000 | $91,000 | $1,097,000 |
| Home Improvement | 158 | $15,168,000 | $96,000 | $417,000 | $82,000 | $481,000 |
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 | 2,292 | $276,181,000 | $120,000 | $1,222,000 | $87,000 | $1,351,000 |
| Not Provided | 136 | $17,464,000 | $128,000 | $417,000 | $94,000 | $850,000 |
| Black or African American | 29 | $3,373,000 | $116,000 | $300,000 | $59,000 | $190,000 |
| Asian | 24 | $3,751,000 | $156,000 | $288,000 | $82,000 | $210,000 |
| Hispanic | 23 | $2,394,000 | $104,000 | $266,000 | $73,000 | $175,000 |
| American Indian or Alaskan Native | 8 | $875,000 | $109,000 | $155,000 | $53,000 | $78,000 |
| Not applicable | 2 | $80,000 | $40,000 | $55,000 | $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) | 2,492 | $302,391,000 | $121,000 | $1,222,000 | $87,000 | $1,351,000 |
| FHA-insured (Federal Housing Administration) | 22 | $1,727,000 | $78,000 | $180,000 | $34,000 | $69,000 |
| 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 | 1,725 | $209,078,000 | $121,000 | $1,057,000 | $92,000 | $1,351,000 |
| Application Denied By Financial Institution | 261 | $31,147,000 | $119,000 | $566,000 | $69,000 | $944,000 |
| Application Withdrawn By Applicant | 192 | $26,890,000 | $140,000 | $417,000 | $97,000 | $488,000 |
| Preapproval Denied by Financial Institution | 181 | $15,029,000 | $83,000 | $338,000 | $43,000 | $199,000 |
| Preapproval Approved but not Accepted | 126 | $16,761,000 | $133,000 | $417,000 | $84,000 | $850,000 |
| Application Approved But Not Accepted | 26 | $5,005,000 | $192,000 | $1,222,000 | $138,000 | $559,000 |
| File Closed For Incompleteness | 3 | $208,000 | $69,000 | $140,000 | $45,000 | $50,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Credit History | 196 | $17,193,000 | $87,000 | $390,000 | $51,000 | $394,000 |
| Debt-To-Income Ratio | 116 | $13,027,000 | $112,000 | $566,000 | $42,000 | $285,000 |
| Collateral | 76 | $9,572,000 | $125,000 | $406,000 | $83,000 | $435,000 |
| Credit Application Incomplete | 19 | $2,785,000 | $146,000 | $358,000 | $89,000 | $336,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 19 | $1,588,000 | $83,000 | $199,000 | $55,000 | $168,000 |
| Other | 9 | $1,252,000 | $139,000 | $390,000 | $167,000 | $944,000 |
| Employment History | 3 | $197,000 | $65,000 | $127,000 | $17,000 | $30,000 |
| Unverifiable Information | 2 | $286,000 | $143,000 | $204,000 | $34,000 | $43,000 |
| Mortgage Insurance Denied | 2 | $276,000 | $138,000 | $200,000 | $74,000 | $114,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mutualbank's 2012 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 Mutualbank'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.
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