Peoples Independent Bank Mortgage Lending & HMDA Data, 2007
In 2007, Peoples Independent Bank of Boaz, AL reported 345 mortgage applications totaling $27.8 million. The average application was for $80,469, and applicants reported an average income of $63,391. 70% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Gadsden, AL (56), Birmingham-Hoover, AL (14) and Anniston-Oxford, AL (5) (applications in parentheses).
| Mortgage Company & Address | Peoples Independent Bank 121 Billy Dyar Blvd Po Box 669 Boaz, AL 35957 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 345 |
| Total Mortgage Loan Application Amount | $27,762,000 |
| Average Mortgage Loan Application Amount | $80,469 |
| Highest Mortgage Loan Application Amount | $1,725,000 |
| Average Applicant Income | $63,391 |
| Highest Applicant Income | $1,561,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Peoples Independent Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Marshall, Alabama | 96 | $ 9,125,000 | $ 95,052 | $ 69,000 |
| Jackson, Alabama | 67 | $ 3,693,000 | $ 55,119 | $ 56,000 |
| DeKalb, Alabama | 60 | $ 5,299,000 | $ 88,316 | $ 60,000 |
| Etowah, Alabama | 56 | $ 3,820,000 | $ 68,214 | $ 57,000 |
| Randolph, Alabama | 27 | $ 2,190,000 | $ 81,111 | $ 35,000 |
| St. Clair, Alabama | 10 | $ 493,000 | $ 49,300 | $ 46,000 |
| Calhoun, Alabama | 5 | $ 640,000 | $ 128,000 | $ 72,000 |
| Lee, Alabama | 4 | $ 367,000 | $ 91,750 | $ 146,000 |
| Blount, Alabama | 3 | $ 115,000 | $ 38,333 | $ 54,000 |
| Clay, Alabama | 3 | $ 176,000 | $ 58,666 | $ 42,000 |
| Madison, Alabama | 3 | $ 273,000 | $ 91,000 | $ 40,000 |
| Mobile, Alabama | 3 | $ 192,000 | $ 64,000 | $ 32,000 |
| Chambers, Alabama | 1 | $ 100,000 | $ 100,000 | $ 65,000 |
| Cherokee, Alabama | 1 | $ 62,000 | $ 62,000 | $ 24,000 |
| Cleburne, Alabama | 1 | $ 191,000 | $ 191,000 | $ 45,000 |
| Coosa, Alabama | 1 | $ 90,000 | $ 90,000 | $ 63,000 |
| Shelby, Alabama | 1 | $ 295,000 | $ 295,000 | $ 76,000 |
| Cherokee, Georgia | 1 | $ 183,000 | $ 183,000 | $ 168,000 |
| Troup, Georgia | 1 | $ 235,000 | $ 235,000 | $ 39,000 |
| Sevier, Tennessee | 1 | $ 223,000 | $ 223,000 | $ 1,561,000 |
Mortgage Loan Application Detail Totals for Peoples Independent Bank in 2007
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 | 201 | $16,374,000 | $81,000 | $524,000 | $63,000 | $1,561,000 |
| Refinancing | 105 | $10,521,000 | $100,000 | $1,725,000 | $68,000 | $740,000 |
| Home Improvement | 39 | $867,000 | $22,000 | $100,000 | $53,000 | $172,000 |
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 | 301 | $22,499,000 | $74,000 | $524,000 | $58,000 | $1,127,000 |
| Black or African American | 13 | $844,000 | $64,000 | $120,000 | $33,000 | $100,000 |
| Hispanic | 11 | $284,000 | $25,000 | $71,000 | $29,000 | $44,000 |
| Not applicable | 11 | $1,470,000 | $133,000 | $510,000 | $228,000 | $1,561,000 |
| Not Provided | 7 | $866,000 | $123,000 | $165,000 | $56,000 | $79,000 |
| American Indian or Alaskan Native | 1 | $1,725,000 | $1,725,000 | $1,725,000 | $740,000 | $740,000 |
| Asian | 1 | $74,000 | $74,000 | $74,000 | $42,000 | $42,000 |
| 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) | 288 | $22,779,000 | $79,000 | $1,725,000 | $69,000 | $1,561,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 49 | $4,271,000 | $87,000 | $156,000 | $37,000 | $110,000 |
| FHA-insured (Federal Housing Administration) | 7 | $573,000 | $81,000 | $165,000 | $35,000 | $62,000 |
| VA-guaranteed (Veterans Administration) | 1 | $139,000 | $139,000 | $139,000 | $35,000 | $35,000 |
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 | 240 | $16,872,000 | $70,000 | $1,725,000 | $68,000 | $1,561,000 |
| Application Denied By Financial Institution | 56 | $5,130,000 | $91,000 | $322,000 | $43,000 | $420,000 |
| File Closed For Incompleteness | 25 | $2,939,000 | $117,000 | $355,000 | $66,000 | $520,000 |
| Application Withdrawn By Applicant | 24 | $2,821,000 | $117,000 | $295,000 | $65,000 | $168,000 |
| 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 | 22 | $1,784,000 | $81,000 | $165,000 | $54,000 | $420,000 |
| Debt-To-Income Ratio | 15 | $1,608,000 | $107,000 | $322,000 | $29,000 | $65,000 |
| Collateral | 7 | $700,000 | $100,000 | $153,000 | $43,000 | $63,000 |
| Credit Application Incomplete | 4 | $317,000 | $79,000 | $114,000 | $31,000 | $41,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $120,000 | $40,000 | $50,000 | $18,000 | $22,000 |
| Unverifiable Information | 3 | $164,000 | $54,000 | $90,000 | $16,000 | $26,000 |
| Other | 2 | $437,000 | $218,000 | $237,000 | $135,000 | $216,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Peoples Independent Bank's 2007 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 Peoples Independent Bank'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.
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with aggregated HMDA statistics today.
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