Sand Ridge Bank Mortgage Lending & HMDA Data, 2004
In 2004, Sand Ridge Bank of Schererville, IN reported 959 mortgage applications totaling $87.0 million, down 37% from 2003. The average application was for $90,725, and applicants reported an average income of $58,903. 80% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Gary, IN (548), Lafayette, IN (206) and Grand Rapids-Wyoming, MI (118) (applications in parentheses).
| Mortgage Company & Address | Sand Ridge Bank P O Box 598 Schererville, IN 46375 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 959 |
| Total Mortgage Loan Application Amount | $87,006,000 |
| Average Mortgage Loan Application Amount | $90,725 |
| Highest Mortgage Loan Application Amount | $546,000 |
| Average Applicant Income | $58,903 |
| Highest Applicant Income | $446,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sand Ridge Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Gary, IN | 548 | $ 50,946,000 | $ 92,967 | $ 60,000 |
| Lafayette, IN | 206 | $ 15,595,000 | $ 75,703 | $ 55,000 |
| Grand Rapids-Wyoming, MI | 118 | $ 12,230,000 | $ 103,644 | $ 46,000 |
| Chicago-Naperville-Joliet, IL | 8 | $ 921,000 | $ 115,125 | $ 82,000 |
| Kokomo, IN | 7 | $ 392,000 | $ 56,000 | $ 38,000 |
| Kalamazoo-Portage, MI | 3 | $ 408,000 | $ 136,000 | $ 107,000 |
| Lansing-East Lansing, MI | 2 | $ 123,000 | $ 61,500 | $ 34,000 |
| Ann Arbor, MI | 1 | $ 180,000 | $ 180,000 | $ 83,000 |
| Battle Creek, MI | 1 | $ 100,000 | $ 100,000 | $ 35,000 |
| Bloomington, IN | 1 | $ 81,000 | $ 81,000 | $ 59,000 |
| Indianapolis, IN | 1 | $ 6,000 | $ 6,000 | $ 48,000 |
| Michigan City-La Porte, IN | 1 | $ 108,000 | $ 108,000 | $ 23,000 |
| Muncie, IN | 1 | $ 144,000 | $ 144,000 | $ 66,000 |
| Niles-Benton Harbor, MI | 1 | $ 70,000 | $ 70,000 | $ 182,000 |
| Terre Haute, IN | 1 | $ 100,000 | $ 100,000 | $ 78,000 |
Mortgage Loan Application Detail Totals for Sand Ridge Bank 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 | 414 | $43,877,000 | $226,250 | $546,000 | $99,750 | $435,000 |
| Home Purchase | 343 | $36,337,000 | $108,500 | $416,000 | $66,000 | $446,000 |
| Home Improvement | 202 | $6,792,000 | $34,333 | $450,000 | $56,666 | $379,000 |
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 | 855 | $80,344,000 | $192,600 | $534,000 | $87,000 | $446,000 |
| Hispanic | 41 | $3,107,000 | $86,500 | $151,000 | $69,000 | $424,000 |
| Not Provided | 36 | $546,000 | $44,666 | $129,000 | $66,666 | $142,000 |
| Not applicable | 14 | $1,447,000 | $103,000 | $546,000 | $8,000 | $59,000 |
| Black or African American | 6 | $314,000 | $39,000 | $154,000 | $60,000 | $99,000 |
| Asian | 5 | $956,000 | $191,000 | $368,000 | $76,000 | $122,000 |
| American Indian or Alaskan Native | 1 | $147,000 | $147,000 | $147,000 | $53,000 | $53,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $145,000 | $145,000 | $145,000 | $81,000 | $81,000 |
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) | 959 | $87,006,000 | $189,000 | $546,000 | $88,200 | $446,000 |
| 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 | 770 | $72,927,000 | $214,250 | $546,000 | $101,000 | $446,000 |
| Application Denied By Financial Institution | 130 | $8,459,000 | $64,500 | $264,000 | $39,000 | $142,000 |
| Application Approved But Not Accepted | 27 | $2,591,000 | $100,500 | $236,000 | $53,000 | $134,000 |
| Application Withdrawn By Applicant | 25 | $2,319,000 | $70,000 | $328,000 | $48,333 | $215,000 |
| Preapproval Approved but not Accepted | 5 | $510,000 | $102,000 | $136,000 | $74,000 | $119,000 |
| Preapproval Denied by Financial Institution | 2 | $200,000 | $100,000 | $110,000 | $54,000 | $56,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 85 | $4,533,000 | $67,666 | $250,000 | $48,000 | $142,000 |
| Debt-To-Income Ratio | 30 | $2,586,000 | $94,500 | $222,000 | $28,500 | $101,000 |
| Collateral | 8 | $901,000 | $107,000 | $264,000 | $41,500 | $101,000 |
| Employment History | 5 | $446,000 | $89,000 | $140,000 | $48,000 | $63,000 |
| Other | 3 | $143,000 | $47,000 | $71,000 | $22,000 | $26,000 |
| Unverifiable Information | 1 | $50,000 | $50,000 | $50,000 | $49,000 | $49,000 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sand Ridge Bank'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 Sand Ridge 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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