Planters & Merchants State Bak Mortgage Lending & HMDA Data, 2004
In 2004, Planters & Merchants State Bak of Hearne, TX reported 154 mortgage applications totaling $9.2 million, down 11% from 2003. The average application was for $59,896, and applicants reported an average income of $63,370. 86% of its applications resulted in an originated loan and 12% were denied. Its largest markets were College Station-Bryan, TX (126), Austin-Round Rock, TX (3) and Houston-Baytown-Sugar Land, TX (1) (applications in parentheses).
| Mortgage Company & Address | Planters & Merchants State Bak 122 West 4th Street Hearne, TX 77859 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 2003 |
| Total Number of Mortgage Applications | 154 |
| Total Mortgage Loan Application Amount | $9,224,000 |
| Average Mortgage Loan Application Amount | $59,896 |
| Highest Mortgage Loan Application Amount | $470,000 |
| Average Applicant Income | $63,370 |
| Highest Applicant Income | $728,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Planters & Merchants State Bak filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Planters & Merchants State Bak 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 | 107 | $5,944,000 | $55,000 | $349,000 | $53,000 | $250,000 |
| Refinancing | 44 | $3,191,000 | $72,000 | $470,000 | $91,000 | $728,000 |
| Home Improvement | 3 | $89,000 | $29,000 | $80,000 | $28,000 | $31,000 |
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 | 113 | $7,593,000 | $67,000 | $470,000 | $66,000 | $728,000 |
| Hispanic | 27 | $973,000 | $36,000 | $76,000 | $60,000 | $223,000 |
| Black or African American | 9 | $490,000 | $54,000 | $336,000 | $45,000 | $100,000 |
| Asian | 5 | $168,000 | $33,000 | $60,000 | $82,000 | $349,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 154 | $9,224,000 | $59,000 | $470,000 | $63,000 | $728,000 |
| 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 | 133 | $8,541,000 | $64,000 | $470,000 | $72,000 | $728,000 |
| Application Denied By Financial Institution | 19 | $609,000 | $32,000 | $60,000 | $39,000 | $104,000 |
| Application Withdrawn By Applicant | 2 | $74,000 | $37,000 | $39,000 | $105,000 | $166,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 4 | $156,000 | $39,000 | $60,000 | $41,000 | $72,000 |
| Collateral | 1 | $20,000 | $20,000 | $20,000 | $17,000 | $17,000 |
| Employment History | 1 | $52,000 | $52,000 | $52,000 | $22,000 | $22,000 |
| 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 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Planters & Merchants State Bak'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 Planters & Merchants State Bak'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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