Somerville Bank & Trust Co Mortgage Lending & HMDA Data, 2009
In 2009, Somerville Bank & Trust Co of Somerville, TN reported 168 mortgage applications totaling $11.0 million, down 48% from 2008. The average application was for $65,244, and applicants reported an average income of $57,077. 88% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Memphis, TN-MS-AR (145) and Morristown, TN (1).
| 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 | 168 |
| Total Mortgage Loan Application Amount | $10,961,000 |
| Average Mortgage Loan Application Amount | $65,244 |
| Highest Mortgage Loan Application Amount | $320,000 |
| Average Applicant Income | $57,077 |
| Highest Applicant Income | $257,000 |
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records Somerville Bank & Trust Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Memphis, TN-MS-AR | 145 | $ 9,734,000 | $ 67,131 | $ 61,144 |
| Morristown, TN | 1 | $ 141,000 | $ 141,000 | $ 61,000 |
Mortgage Loan Application Detail Totals for Somerville Bank & Trust Co 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 | 67 | $5,855,000 | $87,000 | $320,000 | $57,000 | $244,000 |
| Home Purchase | 53 | $3,749,000 | $70,000 | $289,000 | $50,000 | $257,000 |
| Home Improvement | 48 | $1,357,000 | $28,000 | $92,000 | $65,000 | $239,000 |
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 | 110 | $8,667,000 | $78,000 | $320,000 | $69,000 | $257,000 |
| Black or African American | 45 | $1,662,000 | $36,000 | $166,000 | $45,000 | $147,000 |
| Not applicable | 12 | $581,000 | $48,000 | $61,000 | $0 | $0 |
| Hispanic | 1 | $51,000 | $51,000 | $51,000 | $26,000 | $26,000 |
| 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) | 168 | $10,961,000 | $65,000 | $320,000 | $57,000 | $257,000 |
| 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 | 148 | $9,573,000 | $64,000 | $320,000 | $60,000 | $257,000 |
| Application Denied By Financial Institution | 17 | $1,289,000 | $75,000 | $262,000 | $41,000 | $81,000 |
| Application Approved But Not Accepted | 2 | $61,000 | $30,000 | $49,000 | $23,000 | $29,000 |
| Application Withdrawn By Applicant | 1 | $38,000 | $38,000 | $38,000 | $26,000 | $26,000 |
| 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 | 11 | $609,000 | $55,000 | $235,000 | $38,000 | $66,000 |
| Collateral | 3 | $286,000 | $95,000 | $150,000 | $36,000 | $52,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $70,000 | $70,000 | $70,000 | $25,000 | $25,000 |
| Other | 1 | $62,000 | $62,000 | $62,000 | $77,000 | $77,000 |
| Unverifiable Information | 1 | $262,000 | $262,000 | $262,000 | $81,000 | $81,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Somerville Bank & Trust Co'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 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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