Somerville Bank & Trust Co Mortgage Lending & HMDA Data, 2011
In 2011, Somerville Bank & Trust Co of Somerville, TN reported 156 mortgage applications totaling $8.1 million, up 30% from 2010. The average application was for $52,044, and applicants reported an average income of $48,576. 85% of its applications resulted in an originated loan and 13% were denied. Its largest market was Memphis, TN-MS-AR (145).
| 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 | 156 |
| Total Mortgage Loan Application Amount | $8,119,000 |
| Average Mortgage Loan Application Amount | $52,044 |
| Highest Mortgage Loan Application Amount | $400,000 |
| Average Applicant Income | $48,576 |
| Highest Applicant Income | $301,000 |
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records Somerville Bank & Trust Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 141 | $ 7,428,000 | $ 52,680 | $ 48,000 |
| Hardeman, Tennessee | 8 | $ 241,000 | $ 30,125 | $ 30,000 |
| Shelby, Tennessee | 3 | $ 254,000 | $ 84,666 | $ 59,000 |
| Haywood, Tennessee | 2 | $ 73,000 | $ 36,500 | $ 54,000 |
| Lafayette, Mississippi | 1 | $ 64,000 | $ 64,000 | $ 241,000 |
| Marshall, Mississippi | 1 | $ 59,000 | $ 59,000 | $ 58,000 |
Mortgage Loan Application Detail Totals for Somerville Bank & Trust Co in 2011
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 | 69 | $1,220,000 | $17,000 | $141,000 | $43,000 | $301,000 |
| Home Purchase | 61 | $4,876,000 | $79,000 | $400,000 | $53,000 | $169,000 |
| Refinancing | 26 | $2,023,000 | $77,000 | $274,000 | $53,000 | $241,000 |
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 | 93 | $5,896,000 | $63,000 | $400,000 | $57,000 | $301,000 |
| Black or African American | 50 | $1,523,000 | $30,000 | $266,000 | $42,000 | $127,000 |
| Not applicable | 11 | $635,000 | $57,000 | $110,000 | $0 | $0 |
| Hispanic | 2 | $65,000 | $32,000 | $33,000 | $54,000 | $55,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 156 | $8,119,000 | $52,000 | $400,000 | $48,000 | $301,000 |
| 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 | 133 | $6,730,000 | $50,000 | $274,000 | $50,000 | $301,000 |
| Application Denied By Financial Institution | 20 | $1,107,000 | $55,000 | $400,000 | $41,000 | $154,000 |
| Application Approved But Not Accepted | 3 | $282,000 | $94,000 | $160,000 | $45,000 | $50,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 16 | $604,000 | $37,000 | $152,000 | $34,000 | $87,000 |
| Debt-To-Income Ratio | 3 | $480,000 | $160,000 | $400,000 | $71,000 | $154,000 |
| Collateral | 1 | $23,000 | $23,000 | $23,000 | $56,000 | $56,000 |
| 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 2011 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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