S&C Bank Mortgage Lending & HMDA Data, 2007
In 2007, S&C Bank of New Richmond, WI reported 683 mortgage applications totaling $94.4 million, down 14% from 2006. The average application was for $138,204, and applicants reported an average income of $68,975. 85% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (236), Eau Claire, WI (110) and Duluth, MN-WI (3) (applications in parentheses).
| Mortgage Company & Address | S&C Bank 355 S Knowles Ave Po Box 475 New Richmond, WI 54017 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 683 |
| Total Mortgage Loan Application Amount | $94,394,000 |
| Average Mortgage Loan Application Amount | $138,204 |
| Highest Mortgage Loan Application Amount | $770,000 |
| Average Applicant Income | $68,975 |
| Highest Applicant Income | $565,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records S&C Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for S&C 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 | 320 | $49,956,000 | $156,000 | $594,000 | $74,000 | $565,000 |
| Refinancing | 315 | $40,732,000 | $129,000 | $770,000 | $66,000 | $341,000 |
| Home Improvement | 48 | $3,706,000 | $77,000 | $390,000 | $55,000 | $173,000 |
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 | 665 | $92,482,000 | $139,000 | $770,000 | $70,000 | $565,000 |
| Not applicable | 8 | $844,000 | $105,000 | $163,000 | $0 | $0 |
| Not Provided | 2 | $148,000 | $74,000 | $125,000 | $28,000 | $48,000 |
| Asian | 2 | $154,000 | $77,000 | $100,000 | $66,000 | $91,000 |
| Black or African American | 2 | $253,000 | $126,000 | $174,000 | $45,000 | $51,000 |
| Hispanic | 2 | $270,000 | $135,000 | $180,000 | $58,000 | $60,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $93,000 | $93,000 | $93,000 | $39,000 | $39,000 |
| American Indian or Alaskan Native | 1 | $150,000 | $150,000 | $150,000 | $57,000 | $57,000 |
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) | 683 | $94,394,000 | $138,000 | $770,000 | $69,000 | $565,000 |
| 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 | 583 | $82,902,000 | $142,000 | $770,000 | $72,000 | $565,000 |
| Application Denied By Financial Institution | 59 | $6,211,000 | $105,000 | $350,000 | $47,000 | $164,000 |
| Application Withdrawn By Applicant | 17 | $2,335,000 | $137,000 | $400,000 | $49,000 | $108,000 |
| Preapproval Denied by Financial Institution | 16 | $1,703,000 | $106,000 | $200,000 | $46,000 | $139,000 |
| Application Approved But Not Accepted | 8 | $1,243,000 | $155,000 | $225,000 | $64,000 | $130,000 |
| 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 |
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 S&C 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 S&C 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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