Savings Bank & Trust Mortgage Lending & HMDA Data, 2004
In 2004, Savings Bank & Trust of Cleveland, OH reported 87 mortgage applications totaling $8.4 million, down 73% from 2003. The average application was for $96,735, and applicants reported an average income of $61,655. 85% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Cleveland-Elyria-Mentor, OH (17), Canton-Massillon, OH (15) and Akron, OH (3) (applications in parentheses).
| Mortgage Company & Address | Savings Bank & Trust 1900 E 9th Street Locator 01-3013 Cleveland, OH 44114 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 87 |
| Total Mortgage Loan Application Amount | $8,416,000 |
| Average Mortgage Loan Application Amount | $96,735 |
| Highest Mortgage Loan Application Amount | $333,000 |
| Average Applicant Income | $61,655 |
| Highest Applicant Income | $219,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Savings Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Savings Bank & Trust 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 | 47 | $4,070,000 | $86,000 | $333,000 | $72,000 | $219,000 |
| Home Purchase | 36 | $4,013,000 | $103,000 | $321,000 | $56,000 | $180,000 |
| Home Improvement | 4 | $333,000 | $83,000 | $160,000 | $79,000 | $119,000 |
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 | 84 | $8,046,000 | $94,500 | $333,000 | $64,500 | $219,000 |
| Black or African American | 2 | $247,000 | $123,000 | $145,000 | $37,000 | $40,000 |
| Hispanic | 1 | $123,000 | $123,000 | $123,000 | $52,000 | $52,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 87 | $8,416,000 | $95,000 | $333,000 | $63,500 | $219,000 |
| 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 | 74 | $7,446,000 | $100,000 | $333,000 | $67,000 | $219,000 |
| Application Denied By Financial Institution | 9 | $615,000 | $68,000 | $178,000 | $56,000 | $195,000 |
| Preapproval Denied by Financial Institution | 2 | $188,000 | $94,000 | $187,000 | $67,000 | $78,000 |
| Application Withdrawn By Applicant | 1 | $78,000 | $78,000 | $78,000 | $23,000 | $23,000 |
| File Closed For Incompleteness | 1 | $89,000 | $89,000 | $89,000 | $19,000 | $19,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 5 | $215,000 | $27,000 | $87,000 | $47,500 | $87,000 |
| Credit History | 4 | $473,000 | $141,000 | $187,000 | $58,000 | $81,000 |
| Collateral | 2 | $115,000 | $57,000 | $67,000 | $112,000 | $195,000 |
| Credit Application Incomplete | 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 Savings Bank & Trust'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 Savings 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.
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