Park State Bank & Trust Mortgage Lending & HMDA Data, 2023
In 2023, Park State Bank & Trust of Woodland Park, CO reported 57 mortgage applications totaling $24.2 million. The average application was for $424,473, and applicants reported an average income of $189,491. 65% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Colorado Springs, CO (24), Denver-Aurora-Lakewood, CO (18) and Boulder, CO (9) (applications in parentheses).
| Mortgage Company & Address | Park State Bank & Trust Po Box 9 Woodland Park, CO 80866 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 |
| Total Number of Mortgage Applications | 57 |
| Total Mortgage Loan Application Amount | $24,195,000 |
| Average Mortgage Loan Application Amount | $424,473 |
| Highest Mortgage Loan Application Amount | $2,105,000 |
| Average Applicant Income | $189,491 |
| Highest Applicant Income | $1,571,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Park State Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Colorado Springs, CO | 24 | $ 9,040,000 | $ 376,666 | $ 205,000 |
| Denver-Aurora-Lakewood, CO | 18 | $ 5,750,000 | $ 319,444 | $ 162,000 |
| Boulder, CO | 9 | $ 7,535,000 | $ 837,222 | $ 250,000 |
| Outside any metro area | 5 | $ 1,595,000 | $ 319,000 | $ 113,800 |
| Pueblo, CO | 1 | $ 275,000 | $ 275,000 | $ 164,000 |
Mortgage Loan Application Detail Totals for Park State Bank & Trust in 2023
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 |
|---|---|---|---|---|---|---|
| Other Purpose | 55 | $23,225,000 | $422,000 | $2,105,000 | $165,000 | $402,000 |
| Home Purchase | 2 | $970,000 | $485,000 | $505,000 | $863,000 | $1,571,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Refinancing | 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 | 46 | $20,600,000 | $447,000 | $2,105,000 | $201,000 | $1,571,000 |
| Not Provided | 9 | $3,095,000 | $343,000 | $805,000 | $163,000 | $387,000 |
| Hispanic | 2 | $500,000 | $250,000 | $295,000 | $52,000 | $70,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 57 | $24,195,000 | $424,000 | $2,105,000 | $190,000 | $1,571,000 |
| 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 | 37 | $16,255,000 | $439,000 | $2,105,000 | $214,000 | $1,571,000 |
| Application Withdrawn By Applicant | 9 | $2,265,000 | $251,000 | $505,000 | $168,000 | $330,000 |
| Application Denied By Financial Institution | 5 | $2,295,000 | $459,000 | $805,000 | $102,000 | $148,000 |
| File Closed For Incompleteness | 4 | $2,470,000 | $617,000 | $705,000 | $161,000 | $275,000 |
| Application Approved But Not Accepted | 2 | $910,000 | $455,000 | $655,000 | $122,000 | $155,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 57 | $24,195,000 | $424,000 | $2,105,000 | $190,000 | $1,571,000 |
| 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 |
| Not applicable | 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 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Park State Bank & Trust's 2023 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 Park State 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 Colorado, download the full spreadsheet
with aggregated HMDA statistics today.
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