Somerville Bank & Trust Co Mortgage Lending & HMDA Data, 2007
In 2007, Somerville Bank & Trust Co of Somerville, TN reported 353 mortgage applications totaling $19.7 million, up 18% from 2006. The average application was for $55,841, and applicants reported an average income of $57,498. 92% of its applications resulted in an originated loan and 6% were denied. Its largest market was Memphis, TN-MS-AR (323).
| Mortgage Company & Address | Somerville Bank & Trust Co Po Box 879 Somerville, TN 38068 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 353 |
| Total Mortgage Loan Application Amount | $19,712,000 |
| Average Mortgage Loan Application Amount | $55,841 |
| Highest Mortgage Loan Application Amount | $502,000 |
| Average Applicant Income | $57,498 |
| Highest Applicant Income | $375,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Somerville Bank & Trust Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Fayette, Tennessee | 308 | $ 16,431,000 | $ 53,347 | $ 56,000 |
| Hardeman, Tennessee | 22 | $ 1,266,000 | $ 57,545 | $ 70,000 |
| Shelby, Tennessee | 11 | $ 1,156,000 | $ 105,090 | $ 77,000 |
| Haywood, Tennessee | 5 | $ 341,000 | $ 68,200 | $ 57,000 |
| Gibson, Tennessee | 2 | $ 102,000 | $ 51,000 | $ 39,000 |
| Tipton, Tennessee | 2 | $ 107,000 | $ 53,500 | $ 30,000 |
| Marshall, Mississippi | 1 | $ 94,000 | $ 94,000 | $ 38,000 |
| Tate, Mississippi | 1 | $ 10,000 | $ 10,000 | $ 26,000 |
| Dyer, Tennessee | 1 | $ 205,000 | $ 205,000 | $ 99,000 |
Mortgage Loan Application Detail Totals for Somerville Bank & Trust Co 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 Improvement | 128 | $3,866,000 | $30,000 | $502,000 | $54,000 | $279,000 |
| Refinancing | 124 | $7,954,000 | $64,000 | $374,000 | $55,000 | $331,000 |
| Home Purchase | 101 | $7,892,000 | $78,000 | $350,000 | $65,000 | $375,000 |
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 | 227 | $14,266,000 | $62,000 | $502,000 | $67,000 | $375,000 |
| Black or African American | 115 | $4,839,000 | $42,000 | $225,000 | $42,000 | $123,000 |
| Not applicable | 7 | $318,000 | $45,000 | $76,000 | $20,000 | $144,000 |
| Hispanic | 3 | $132,000 | $44,000 | $61,000 | $45,000 | $58,000 |
| American Indian or Alaskan Native | 1 | $157,000 | $157,000 | $157,000 | $50,000 | $50,000 |
| 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) | 353 | $19,712,000 | $55,000 | $502,000 | $58,000 | $375,000 |
| 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 | 324 | $17,594,000 | $54,000 | $502,000 | $58,000 | $331,000 |
| Application Denied By Financial Institution | 21 | $1,426,000 | $67,000 | $180,000 | $40,000 | $76,000 |
| Application Withdrawn By Applicant | 7 | $660,000 | $94,000 | $205,000 | $104,000 | $375,000 |
| Application Approved But Not Accepted | 1 | $32,000 | $32,000 | $32,000 | $37,000 | $37,000 |
| 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 |
| 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 | 19 | $1,339,000 | $70,000 | $180,000 | $43,000 | $76,000 |
| Debt-To-Income Ratio | 1 | $64,000 | $64,000 | $64,000 | $17,000 | $17,000 |
| Collateral | 1 | $23,000 | $23,000 | $23,000 | $21,000 | $21,000 |
| 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 Somerville Bank & Trust Co'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 Somerville Bank & Trust Co'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.
For a list of all lenders in Tennessee, download the full spreadsheet
with aggregated HMDA statistics today.
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