Paragon Bank & Trust Mortgage Lending & HMDA Data, 2004
In 2004, Paragon Bank & Trust of Holland, MI reported 195 mortgage applications totaling $10.7 million, up 37% from 2003. The average application was for $54,769, and applicants reported an average income of $78,328. 83% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Holland-Grand Haven, MI (83), Grand Rapids-Wyoming, MI (66) and Muskegon-Norton Shores, MI (3) (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 | 195 |
| Total Mortgage Loan Application Amount | $10,680,000 |
| Average Mortgage Loan Application Amount | $54,769 |
| Highest Mortgage Loan Application Amount | $350,000 |
| Average Applicant Income | $78,328 |
| Highest Applicant Income | $1,582,000 |
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Act (HMDA) records Paragon Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Paragon Bank & Trust in 2004
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 | 112 | $5,064,000 | $89,750 | $217,000 | $70,250 | $1,582,000 |
| Refinancing | 72 | $4,641,000 | $45,000 | $310,000 | $79,000 | $579,000 |
| Home Improvement | 11 | $975,000 | $88,000 | $350,000 | $47,000 | $104,000 |
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 | 139 | $7,388,000 | $94,250 | $350,000 | $77,750 | $1,582,000 |
| Not applicable | 30 | $2,135,000 | $71,000 | $295,000 | $0 | $0 |
| Hispanic | 13 | $470,000 | $30,000 | $126,000 | $55,000 | $190,000 |
| Not Provided | 7 | $417,000 | $54,500 | $88,000 | $50,000 | $278,000 |
| Asian | 3 | $143,000 | $47,000 | $68,000 | $61,000 | $67,000 |
| Black or African American | 1 | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $68,000 | $68,000 | $68,000 | $35,000 | $35,000 |
| American Indian or Alaskan Native | 1 | $32,000 | $32,000 | $32,000 | $22,000 | $22,000 |
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) | 193 | $10,582,000 | $92,000 | $350,000 | $74,250 | $1,582,000 |
| VA-guaranteed (Veterans Administration) | 2 | $98,000 | $49,000 | $80,000 | $64,000 | $129,000 |
| 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 |
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 | 161 | $9,270,000 | $111,333 | $350,000 | $91,000 | $1,582,000 |
| Application Denied By Financial Institution | 17 | $715,000 | $34,000 | $68,000 | $36,000 | $51,000 |
| Application Withdrawn By Applicant | 9 | $421,000 | $46,000 | $88,000 | $59,000 | $184,000 |
| Preapproval Denied by Financial Institution | 7 | $266,000 | $38,000 | $63,000 | $46,000 | $74,000 |
| File Closed For Incompleteness | 1 | $8,000 | $8,000 | $8,000 | $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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 13 | $552,000 | $39,000 | $68,000 | $34,000 | $51,000 |
| Credit History | 9 | $390,000 | $42,500 | $64,000 | $42,500 | $74,000 |
| Employment History | 1 | $19,000 | $19,000 | $19,000 | $32,000 | $32,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $20,000 | $20,000 | $20,000 | $43,000 | $43,000 |
| 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 2004 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