Savings Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, Savings Bank & Trust of Cleveland, OH reported 321 mortgage applications totaling $32.2 million. The average application was for $100,261, and applicants reported an average income of $54,439. 88% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Cleveland-Lorain-Elyria, OH (57), Canton-Massillon, OH (29) and Akron, OH (12) (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 | 321 |
| Total Mortgage Loan Application Amount | $32,184,000 |
| Average Mortgage Loan Application Amount | $100,261 |
| Highest Mortgage Loan Application Amount | $815,000 |
| Average Applicant Income | $54,439 |
| Highest Applicant Income | $345,000 |
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Act (HMDA) records Savings Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cleveland-Lorain-Elyria, OH | 57 | $ 5,930,000 | $ 104,035 | $ 53,000 |
| Canton-Massillon, OH | 29 | $ 2,164,000 | $ 74,620 | $ 40,000 |
| Akron, OH | 12 | $ 1,312,000 | $ 109,333 | $ 52,000 |
| Columbus, OH | 1 | $ 133,000 | $ 133,000 | $ 80,000 |
Mortgage Loan Application Detail Totals for Savings 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) | 237 | $22,989,000 | $96,000 | $322,000 | $57,000 | $345,000 |
| Home Purchase (one-to-four family) | 61 | $6,169,000 | $105,500 | $270,000 | $50,000 | $291,000 |
| Home Improvement (one-to-four family) | 16 | $373,000 | $27,000 | $150,000 | $50,000 | $103,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 7 | $2,653,000 | $345,500 | $815,000 | $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 | 308 | $29,093,000 | $94,500 | $322,000 | $50,000 | $345,000 |
| Not applicable | 6 | $2,286,000 | $245,000 | $815,000 | $21,500 | $174,000 |
| Asian or Pacific Islander | 3 | $401,000 | $133,000 | $250,000 | $98,000 | $170,000 |
| Black | 2 | $144,000 | $72,000 | $109,000 | $20,000 | $41,000 |
| Information not provided by applicant in mail or telephone application | 1 | $87,000 | $87,000 | $87,000 | $58,000 | $58,000 |
| Other | 1 | $173,000 | $173,000 | $173,000 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 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) | 321 | $32,184,000 | $98,500 | $815,000 | $47,500 | $345,000 |
| 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 | 284 | $28,679,000 | $98,500 | $815,000 | $48,500 | $345,000 |
| Application Denied By Financial Institution | 26 | $2,321,000 | $93,000 | $293,000 | $42,000 | $127,000 |
| Application Withdrawn By Applicant | 7 | $762,000 | $109,000 | $145,000 | $43,500 | $72,000 |
| File Closed For Incompleteness | 3 | $334,000 | $111,000 | $118,000 | $143,000 | $196,000 |
| Application Approved But Not Accepted | 1 | $88,000 | $88,000 | $88,000 | $39,000 | $39,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 10 | $1,052,000 | $107,000 | $187,000 | $28,000 | $41,000 |
| Credit History | 9 | $557,000 | $64,500 | $150,000 | $39,500 | $68,000 |
| Credit Application Incomplete | 1 | $44,000 | $44,000 | $44,000 | $24,000 | $24,000 |
| Employment History | 1 | $26,000 | $26,000 | $26,000 | $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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Savings 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 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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