Rushmore Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, Rushmore Bank & Trust of Rapid City, SD reported 616 mortgage applications totaling $61.3 million. The average application was for $99,472, and applicants reported an average income of $99,560. 81% of its applications resulted in an originated loan and 2% were denied. Its largest market was Rapid City, SD (421).
| Mortgage Company & Address | Rushmore Bank & Trust Po Box 2290 Rapid City, SD 57709 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 616 |
| Total Mortgage Loan Application Amount | $61,275,000 |
| Average Mortgage Loan Application Amount | $99,472 |
| Highest Mortgage Loan Application Amount | $650,000 |
| Average Applicant Income | $99,560 |
| Highest Applicant Income | $960,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Rushmore Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Pennington, South Dakota | 421 | $ 40,912,000 | $ 97,178 | $ 72,000 |
Mortgage Loan Application Detail Totals for Rushmore Bank & Trust in 2003
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 (home purchase or home improvement, one-to-four family) | 359 | $38,704,000 | $110,000 | $650,000 | $132,000 | $960,000 |
| Home Purchase (one-to-four family) | 213 | $21,563,000 | $101,500 | $261,000 | $88,000 | $697,000 |
| Home Improvement (one-to-four family) | 44 | $1,008,000 | $23,000 | $71,000 | $47,000 | $114,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 559 | $54,889,000 | $99,000 | $650,000 | $81,500 | $750,000 |
| Information not provided by applicant in mail or telephone application | 33 | $3,815,000 | $121,500 | $201,000 | $234,000 | $960,000 |
| Hispanic | 7 | $826,000 | $105,500 | $261,000 | $73,500 | $241,000 |
| Black | 6 | $574,000 | $65,500 | $146,000 | $58,000 | $65,000 |
| Asian or Pacific Islander | 5 | $392,000 | $82,500 | $124,000 | $73,500 | $117,000 |
| American Indian or Alaskan Native | 4 | $401,000 | $100,000 | $126,000 | $37,500 | $51,000 |
| Other | 2 | $378,000 | $189,000 | $230,000 | $411,000 | $753,000 |
| Not applicable | 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) | 500 | $48,748,000 | $99,000 | $650,000 | $121,000 | $960,000 |
| VA-guaranteed (Veterans Administration) | 71 | $8,320,000 | $115,500 | $261,000 | $65,500 | $732,000 |
| FHA-insured (Federal Housing Administration) | 29 | $2,581,000 | $92,500 | $125,000 | $53,500 | $241,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 16 | $1,626,000 | $100,000 | $149,000 | $38,500 | $52,000 |
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 | 496 | $47,392,000 | $94,500 | $516,000 | $65,000 | $624,000 |
| Application Withdrawn By Applicant | 97 | $11,045,000 | $116,500 | $650,000 | $92,000 | $732,000 |
| Application Approved But Not Accepted | 13 | $1,692,000 | $130,000 | $230,000 | $303,000 | $960,000 |
| Application Denied By Financial Institution | 10 | $1,146,000 | $127,500 | $194,000 | $391,500 | $750,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Rushmore Bank & Trust's 2003 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 Rushmore 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 South Dakota, download the full spreadsheet
with aggregated HMDA statistics today.
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