Mvb Mortgage Corporation Mortgage Lending & HMDA Data, 2011
In 2011, Mvb Mortgage Corporation of Southfield, MI reported 98 mortgage applications totaling $11.6 million, down 43% from 2010. The average application was for $118,418, and applicants reported an average income of $40,000. 79% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (6), Baltimore-Towson, MD (4) and Detroit-Livonia-Dearborn, MI (4) (applications in parentheses).
| Mortgage Company & Address | Mvb Mortgage Corporation 24400 Northwestern Highway, Suite 200 Southfield, MI 48075 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 98 |
| Total Mortgage Loan Application Amount | $11,605,000 |
| Average Mortgage Loan Application Amount | $118,418 |
| Highest Mortgage Loan Application Amount | $369,000 |
| Average Applicant Income | $40,000 |
| Highest Applicant Income | $143,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mvb Mortgage Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mvb Mortgage Corporation in 2011
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 | 98 | $11,605,000 | $118,000 | $369,000 | $40,000 | $143,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Purchase | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 69 | $7,884,000 | $114,000 | $268,000 | $39,000 | $98,000 |
| Black or African American | 23 | $2,654,000 | $115,000 | $369,000 | $42,000 | $143,000 |
| Hispanic | 5 | $940,000 | $188,000 | $329,000 | $57,000 | $111,000 |
| Asian | 1 | $127,000 | $127,000 | $127,000 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 86 | $9,886,000 | $114,000 | $369,000 | $46,000 | $143,000 |
| VA-guaranteed (Veterans Administration) | 12 | $1,719,000 | $143,000 | $329,000 | $0 | $0 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 77 | $9,342,000 | $121,000 | $369,000 | $42,000 | $143,000 |
| Application Denied By Financial Institution | 15 | $1,545,000 | $103,000 | $163,000 | $37,000 | $70,000 |
| Application Withdrawn By Applicant | 6 | $718,000 | $119,000 | $214,000 | $27,000 | $76,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Credit History | 11 | $1,100,000 | $100,000 | $163,000 | $37,000 | $70,000 |
| Other | 3 | $318,000 | $106,000 | $130,000 | $48,000 | $59,000 |
| Collateral | 1 | $127,000 | $127,000 | $127,000 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mvb Mortgage Corporation's 2011 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 Mvb Mortgage Corporation'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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