Simmons First Bank - Nw Mortgage Lending & HMDA Data, 2009
In 2009, Simmons First Bank - Nw of Rogers, AR reported 259 mortgage applications totaling $28.9 million, down 18% from 2008. The average application was for $111,424, and applicants reported an average income of $71,397. 85% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Fayetteville-Springdale-Rogers, AR-MO (242), Little Rock-North Little Rock-Conway, AR (2) and Hot Springs, AR (1) (applications in parentheses).
| Mortgage Company & Address | Simmons First Bank - Nw 3975 W. New Hope Road Rogers, AR 72758 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 259 |
| Total Mortgage Loan Application Amount | $28,859,000 |
| Average Mortgage Loan Application Amount | $111,424 |
| Highest Mortgage Loan Application Amount | $768,000 |
| Average Applicant Income | $71,397 |
| Highest Applicant Income | $1,533,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Simmons First Bank - Nw filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Simmons First Bank - Nw in 2009
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 | 127 | $16,913,000 | $133,000 | $768,000 | $76,000 | $1,533,000 |
| Home Purchase | 79 | $11,191,000 | $141,000 | $417,000 | $75,000 | $357,000 |
| Home Improvement | 53 | $755,000 | $14,000 | $95,000 | $55,000 | $185,000 |
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 | 224 | $23,739,000 | $105,000 | $417,000 | $78,000 | $1,533,000 |
| Not applicable | 18 | $3,506,000 | $194,000 | $768,000 | $0 | $0 |
| Hispanic | 12 | $1,055,000 | $87,000 | $185,000 | $49,000 | $113,000 |
| Black or African American | 3 | $376,000 | $125,000 | $159,000 | $82,000 | $129,000 |
| American Indian or Alaskan Native | 2 | $183,000 | $91,000 | $98,000 | $39,000 | $48,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 194 | $20,340,000 | $104,000 | $768,000 | $75,000 | $1,533,000 |
| FHA-insured (Federal Housing Administration) | 51 | $6,641,000 | $130,000 | $245,000 | $62,000 | $229,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 11 | $1,240,000 | $112,000 | $173,000 | $41,000 | $53,000 |
| VA-guaranteed (Veterans Administration) | 3 | $638,000 | $212,000 | $278,000 | $104,000 | $151,000 |
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 | 221 | $25,251,000 | $114,000 | $768,000 | $74,000 | $1,533,000 |
| Application Denied By Financial Institution | 23 | $2,256,000 | $98,000 | $365,000 | $58,000 | $176,000 |
| Application Approved But Not Accepted | 7 | $721,000 | $103,000 | $173,000 | $51,000 | $79,000 |
| Application Withdrawn By Applicant | 6 | $473,000 | $78,000 | $181,000 | $40,000 | $88,000 |
| File Closed For Incompleteness | 2 | $158,000 | $79,000 | $89,000 | $51,000 | $60,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial 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 | 11 | $1,006,000 | $91,000 | $365,000 | $42,000 | $90,000 |
| Debt-To-Income Ratio | 6 | $460,000 | $76,000 | $150,000 | $50,000 | $99,000 |
| Collateral | 5 | $786,000 | $157,000 | $346,000 | $93,000 | $176,000 |
| Unverifiable Information | 1 | $4,000 | $4,000 | $4,000 | $125,000 | $125,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Simmons First Bank - Nw's 2009 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 Simmons First Bank - Nw'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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