South Story Bank & Trust Mortgage Lending & HMDA Data, 2007
In 2007, South Story Bank & Trust of Slater, IA reported 49 mortgage applications totaling $6.6 million, up 44% from 2006. The average application was for $134,612, and applicants reported an average income of $59,081. 92% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Ames, IA (24) and Des Moines-West Des Moines, IA (13).
| Mortgage Company & Address | South Story Bank & Trust 501 Linn St Slater, IA 50244 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 49 |
| Total Mortgage Loan Application Amount | $6,596,000 |
| Average Mortgage Loan Application Amount | $134,612 |
| Highest Mortgage Loan Application Amount | $2,900,000 |
| Average Applicant Income | $59,081 |
| Highest Applicant Income | $253,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records South Story Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for South Story Bank & Trust 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 Purchase | 24 | $4,943,000 | $205,000 | $2,900,000 | $57,000 | $123,000 |
| Refinancing | 18 | $1,249,000 | $69,000 | $261,000 | $65,000 | $253,000 |
| Home Improvement | 7 | $404,000 | $57,000 | $160,000 | $51,000 | $141,000 |
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 | 47 | $3,646,000 | $77,000 | $264,000 | $61,000 | $253,000 |
| Not applicable | 2 | $2,950,000 | $1,475,000 | $2,900,000 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 49 | $6,596,000 | $134,000 | $2,900,000 | $59,000 | $253,000 |
| 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 | 45 | $6,387,000 | $141,000 | $2,900,000 | $58,000 | $253,000 |
| Application Denied By Financial Institution | 3 | $143,000 | $47,000 | $117,000 | $69,000 | $82,000 |
| Application Withdrawn By Applicant | 1 | $66,000 | $66,000 | $66,000 | $90,000 | $90,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 1 | $117,000 | $117,000 | $117,000 | $51,000 | $51,000 |
| Debt-To-Income Ratio | 1 | $11,000 | $11,000 | $11,000 | $76,000 | $76,000 |
| Other | 1 | $15,000 | $15,000 | $15,000 | $82,000 | $82,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into South Story Bank & Trust'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 South Story 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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