Paragon Bank & Trust Mortgage Lending & HMDA Data, 2005
In 2005, Paragon Bank & Trust of Holland, MI reported 101 mortgage applications totaling $5.6 million, down 48% from 2004. The average application was for $55,613, and applicants reported an average income of $51,188. 68% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Holland-Grand Haven, MI (37), Grand Rapids-Wyoming, MI (30) and Kalamazoo-Portage, MI (1) (applications in parentheses).
| Mortgage Company & Address | Paragon Bank & Trust 240 East 8th Street Holland, MI 49423 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 101 |
| Total Mortgage Loan Application Amount | $5,617,000 |
| Average Mortgage Loan Application Amount | $55,613 |
| Highest Mortgage Loan Application Amount | $519,000 |
| Average Applicant Income | $51,188 |
| Highest Applicant Income | $355,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Paragon Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Holland-Grand Haven, MI | 37 | $ 1,555,000 | $ 42,027 | $ 35,000 |
| Grand Rapids-Wyoming, MI | 30 | $ 2,424,000 | $ 80,800 | $ 39,000 |
| Kalamazoo-Portage, MI | 1 | $ 53,000 | $ 53,000 | $ 15,000 |
| Syracuse, NY | 1 | $ 123,000 | $ 123,000 | $ 323,000 |
Mortgage Loan Application Detail Totals for Paragon Bank & Trust in 2005
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 | 57 | $3,338,000 | $50,000 | $519,000 | $39,000 | $355,000 |
| Refinancing | 39 | $2,081,000 | $53,000 | $250,000 | $54,000 | $241,000 |
| Home Improvement | 5 | $198,000 | $70,500 | $123,000 | $198,500 | $323,000 |
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 | 61 | $2,539,000 | $64,666 | $250,000 | $139,666 | $355,000 |
| Not applicable | 24 | $2,470,000 | $102,000 | $519,000 | $0 | $0 |
| Hispanic | 10 | $239,000 | $29,500 | $63,000 | $28,500 | $61,000 |
| Not Provided | 6 | $369,000 | $61,000 | $161,000 | $30,000 | $52,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 101 | $5,617,000 | $72,333 | $519,000 | $135,000 | $355,000 |
| 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 | 69 | $4,620,000 | $94,500 | $519,000 | $194,000 | $355,000 |
| Application Denied By Financial Institution | 21 | $601,000 | $28,000 | $75,000 | $29,000 | $62,000 |
| Preapproval Denied by Financial Institution | 10 | $381,000 | $38,000 | $69,000 | $33,000 | $51,000 |
| Application Withdrawn By Applicant | 1 | $15,000 | $15,000 | $15,000 | $46,000 | $46,000 |
| File Closed For Incompleteness | 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 |
| Application Approved But Not Accepted | 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 | 14 | $445,000 | $31,000 | $75,000 | $33,500 | $62,000 |
| Debt-To-Income Ratio | 14 | $395,000 | $30,500 | $69,000 | $29,500 | $52,000 |
| Employment History | 1 | $61,000 | $61,000 | $61,000 | $18,000 | $18,000 |
| 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 |
| 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 Paragon Bank & Trust's 2005 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 Paragon 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.
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