Oak Mortgage, LLC Mortgage Lending & HMDA Data, 2022
In 2022, Oak Mortgage, LLC of Sturgis, MI reported 784 mortgage applications totaling $191.3 million, down 38% from 2021. The average application was for $244,043, and applicants reported an average income of $128,610. 83% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Niles-Benton Harbor, MI (146), Battle Creek, MI (80) and Kalamazoo-Portage, MI (45) (applications in parentheses).
| Mortgage Company & Address | Oak Mortgage, LLC 113-125 E Chicago Rd Sturgis, MI 49091 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 784 |
| Total Mortgage Loan Application Amount | $191,330,000 |
| Average Mortgage Loan Application Amount | $244,043 |
| Highest Mortgage Loan Application Amount | $2,505,000 |
| Average Applicant Income | $128,610 |
| Highest Applicant Income | $2,599,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Oak Mortgage, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Oak Mortgage, LLC in 2022
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 | 556 | $150,120,000 | $270,000 | $2,505,000 | $139,000 | $2,599,000 |
| Cash-out Refinancing | 140 | $27,410,000 | $195,000 | $1,005,000 | $100,000 | $682,000 |
| Refinancing | 59 | $8,515,000 | $144,000 | $445,000 | $80,000 | $507,000 |
| Other Purpose | 18 | $3,650,000 | $202,000 | $625,000 | $193,000 | $931,000 |
| Home Improvement | 11 | $1,635,000 | $148,000 | $225,000 | $123,000 | $342,000 |
| Not Applicable | 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 | 701 | $174,155,000 | $248,000 | $2,505,000 | $131,000 | $2,599,000 |
| Hispanic | 50 | $9,180,000 | $183,000 | $645,000 | $96,000 | $343,000 |
| Black or African American | 19 | $3,875,000 | $203,000 | $565,000 | $91,000 | $277,000 |
| Asian | 7 | $3,115,000 | $445,000 | $765,000 | $193,000 | $365,000 |
| Not Provided | 5 | $765,000 | $153,000 | $365,000 | $119,000 | $246,000 |
| Not applicable | 1 | $125,000 | $125,000 | $125,000 | $0 | $0 |
| American Indian or Alaskan Native | 1 | $115,000 | $115,000 | $115,000 | $55,000 | $55,000 |
| 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) | 746 | $185,720,000 | $248,000 | $2,505,000 | $132,000 | $2,599,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 38 | $5,610,000 | $147,000 | $275,000 | $53,000 | $99,000 |
| 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 | 652 | $164,510,000 | $252,000 | $2,505,000 | $131,000 | $2,599,000 |
| Application Approved But Not Accepted | 95 | $19,745,000 | $207,000 | $925,000 | $117,000 | $612,000 |
| Application Denied By Financial Institution | 24 | $3,440,000 | $143,000 | $405,000 | $77,000 | $624,000 |
| Application Withdrawn By Applicant | 12 | $3,510,000 | $292,000 | $645,000 | $154,000 | $525,000 |
| Loan Purchased By The Institution | 1 | $125,000 | $125,000 | $125,000 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 760 | $187,890,000 | $247,000 | $2,505,000 | $130,000 | $2,599,000 |
| Debt-To-Income Ratio | 12 | $2,020,000 | $168,000 | $405,000 | $50,000 | $164,000 |
| Credit History | 10 | $1,170,000 | $117,000 | $205,000 | $117,000 | $624,000 |
| Mortgage Insurance Denied | 1 | $145,000 | $145,000 | $145,000 | $33,000 | $33,000 |
| Other | 1 | $105,000 | $105,000 | $105,000 | $48,000 | $48,000 |
| Unverifiable Information | 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Oak Mortgage, LLC's 2022 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 Oak Mortgage, LLC'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.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About