Richton Bank & Trust Company Mortgage Lending & HMDA Data, 2004
In 2004, Richton Bank & Trust Company of Richton, MS reported 368 mortgage applications totaling $11.9 million. The average application was for $32,247, and applicants reported an average income of $42,057. 79% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Hattiesburg, MS (195) and Pascagoula, MS (3).
| 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 | 368 |
| Total Mortgage Loan Application Amount | $11,867,000 |
| Average Mortgage Loan Application Amount | $32,247 |
| Highest Mortgage Loan Application Amount | $509,000 |
| Average Applicant Income | $42,057 |
| Highest Applicant Income | $540,000 |
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records Richton Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Hattiesburg, MS | 195 | $ 6,385,000 | $ 32,743 | $ 45,000 |
| Pascagoula, MS | 3 | $ 61,000 | $ 20,333 | $ 45,000 |
Mortgage Loan Application Detail Totals for Richton Bank & Trust Company 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 |
|---|---|---|---|---|---|---|
| Refinancing | 167 | $6,122,000 | $36,000 | $509,000 | $47,000 | $253,000 |
| Home Purchase | 148 | $4,450,000 | $20,666 | $252,000 | $34,666 | $140,000 |
| Home Improvement | 53 | $1,295,000 | $24,000 | $85,000 | $41,000 | $540,000 |
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 | 319 | $10,310,000 | $21,666 | $509,000 | $35,666 | $540,000 |
| Black or African American | 41 | $789,000 | $16,500 | $80,000 | $36,500 | $81,000 |
| Not applicable | 5 | $688,000 | $137,000 | $269,000 | $0 | $0 |
| Hispanic | 3 | $80,000 | $26,000 | $55,000 | $51,000 | $94,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 368 | $11,867,000 | $21,333 | $509,000 | $36,000 | $540,000 |
| 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 | 291 | $9,371,000 | $24,500 | $509,000 | $41,000 | $540,000 |
| Application Denied By Financial Institution | 64 | $2,044,000 | $25,000 | $175,000 | $38,500 | $132,000 |
| Application Approved But Not Accepted | 9 | $373,000 | $41,000 | $125,000 | $45,000 | $72,000 |
| Application Withdrawn By Applicant | 3 | $67,000 | $19,000 | $40,000 | $19,500 | $50,000 |
| File Closed For Incompleteness | 1 | $12,000 | $12,000 | $12,000 | $28,000 | $28,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 44 | $1,335,000 | $24,000 | $135,000 | $38,000 | $81,000 |
| Debt-To-Income Ratio | 8 | $417,000 | $52,000 | $175,000 | $37,000 | $79,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $131,000 | $32,000 | $65,000 | $35,000 | $43,000 |
| Employment History | 3 | $50,000 | $16,000 | $30,000 | $23,000 | $34,000 |
| Collateral | 2 | $75,000 | $37,000 | $59,000 | $78,000 | $132,000 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Richton Bank & Trust Company'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 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.
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