Richton Bank & Trust Company Mortgage Lending & HMDA Data, 2008
In 2008, Richton Bank & Trust Company of Richton, MS reported 293 mortgage applications totaling $13.0 million, up 11% from 2007. The average application was for $44,269, and applicants reported an average income of $59,300. 80% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Hattiesburg, MS (162), Jackson, MS (5) and Pascagoula, MS (5) (applications in parentheses).
| Mortgage Company & Address | Richton Bank & Trust Company 114 S Front Street (Po Box 527) Richton, MS 39476 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 293 |
| Total Mortgage Loan Application Amount | $12,971,000 |
| Average Mortgage Loan Application Amount | $44,269 |
| Highest Mortgage Loan Application Amount | $448,000 |
| Average Applicant Income | $59,300 |
| Highest Applicant Income | $1,014,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Richton Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Perry, Mississippi | 145 | $ 5,036,000 | $ 34,731 | $ 44,000 |
| Greene, Mississippi | 77 | $ 3,209,000 | $ 41,675 | $ 66,000 |
| Jones, Mississippi | 19 | $ 626,000 | $ 32,947 | $ 62,000 |
| Forrest, Mississippi | 16 | $ 1,104,000 | $ 69,000 | $ 91,000 |
| Wayne, Mississippi | 11 | $ 290,000 | $ 26,363 | $ 47,000 |
| Baldwin, Alabama | 5 | $ 988,000 | $ 197,600 | $ 446,000 |
| Washington, Alabama | 3 | $ 228,000 | $ 76,000 | $ 23,000 |
| Copiah, Mississippi | 3 | $ 198,000 | $ 66,000 | $ 23,000 |
| George, Mississippi | 3 | $ 61,000 | $ 20,333 | $ 36,000 |
| Jackson, Mississippi | 2 | $ 314,000 | $ 157,000 | $ 64,000 |
| Lamar, Mississippi | 1 | $ 448,000 | $ 448,000 | $ 0 |
| Madison, Mississippi | 1 | $ 163,000 | $ 163,000 | $ 68,000 |
| Rankin, Mississippi | 1 | $ 200,000 | $ 200,000 | $ 135,000 |
Mortgage Loan Application Detail Totals for Richton Bank & Trust Company in 2008
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 |
|---|---|---|---|---|---|---|
| Refinancing | 155 | $8,315,000 | $53,000 | $448,000 | $69,000 | $1,014,000 |
| Home Purchase | 74 | $4,126,000 | $55,000 | $421,000 | $60,000 | $414,000 |
| Home Improvement | 64 | $530,000 | $8,000 | $56,000 | $35,000 | $226,000 |
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 | 237 | $11,274,000 | $47,000 | $448,000 | $65,000 | $1,014,000 |
| Black or African American | 42 | $829,000 | $19,000 | $100,000 | $38,000 | $280,000 |
| Not applicable | 5 | $456,000 | $91,000 | $130,000 | $0 | $0 |
| Not Provided | 3 | $164,000 | $54,000 | $75,000 | $78,000 | $108,000 |
| Hispanic | 3 | $161,000 | $53,000 | $60,000 | $46,000 | $81,000 |
| American Indian or Alaskan Native | 3 | $87,000 | $29,000 | $39,000 | $50,000 | $75,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 293 | $12,971,000 | $44,000 | $448,000 | $60,000 | $1,014,000 |
| 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 | 234 | $10,815,000 | $46,000 | $448,000 | $62,000 | $1,014,000 |
| Application Denied By Financial Institution | 44 | $1,528,000 | $34,000 | $255,000 | $46,000 | $414,000 |
| Application Withdrawn By Applicant | 14 | $627,000 | $44,000 | $134,000 | $64,000 | $226,000 |
| Application Approved But Not Accepted | 1 | $1,000 | $1,000 | $1,000 | $5,000 | $5,000 |
| 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 |
| 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 | 39 | $1,256,000 | $32,000 | $255,000 | $49,000 | $414,000 |
| Debt-To-Income Ratio | 2 | $130,000 | $65,000 | $75,000 | $28,000 | $48,000 |
| Employment History | 1 | $61,000 | $61,000 | $61,000 | $36,000 | $36,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $80,000 | $80,000 | $80,000 | $19,000 | $19,000 |
| 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 Richton Bank & Trust Company's 2008 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 Richton Bank & Trust Company'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 Mississippi, download the full spreadsheet
with aggregated HMDA statistics today.
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