Southern Commerce Bank Mortgage Lending & HMDA Data, 2005
In 2005, Southern Commerce Bank of Tampa, FL reported 655 mortgage applications totaling $115.3 million. The average application was for $176,042, and applicants reported an average income of $98,882. 41% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Orlando, FL (124), Deltona-Daytona Beach-Ormond Beach, FL (102) and Tampa-St. Petersburg-Clearwater, FL (59) (applications in parentheses).
| Mortgage Company & Address | Southern Commerce Bank 5650 Breckenridge Park Drive #110 Tampa, FL 33610 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 |
| Total Number of Mortgage Applications | 655 |
| Total Mortgage Loan Application Amount | $115,308,000 |
| Average Mortgage Loan Application Amount | $176,042 |
| Highest Mortgage Loan Application Amount | $3,700,000 |
| Average Applicant Income | $98,882 |
| Highest Applicant Income | $1,351,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Southern Commerce Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Orlando, FL | 124 | $ 18,261,000 | $ 147,266 | $ 66,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 102 | $ 16,101,000 | $ 157,852 | $ 58,000 |
| Tampa-St. Petersburg-Clearwater, FL | 59 | $ 11,065,000 | $ 187,542 | $ 123,000 |
| Atlanta-Sandy Springs-Marietta, GA | 50 | $ 8,030,000 | $ 160,600 | $ 77,000 |
| Macon, GA | 23 | $ 2,527,000 | $ 109,869 | $ 41,000 |
| Sarasota-Bradenton-Venice, FL | 19 | $ 4,782,000 | $ 251,684 | $ 123,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 18 | $ 4,058,000 | $ 225,444 | $ 95,000 |
| Augusta-Richmond County, GA-SC | 15 | $ 1,298,000 | $ 86,533 | $ 47,000 |
| Jacksonville, FL | 14 | $ 2,163,000 | $ 154,500 | $ 73,000 |
| Lakeland, FL | 14 | $ 1,890,000 | $ 135,000 | $ 73,000 |
| Memphis, TN-MS-AR | 11 | $ 985,000 | $ 89,545 | $ 82,000 |
| Miami-Miami Beach-Kendall, FL | 6 | $ 2,008,000 | $ 334,666 | $ 97,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 5 | $ 1,880,000 | $ 376,000 | $ 130,000 |
| Albany, GA | 4 | $ 521,000 | $ 130,250 | $ 52,000 |
| Baltimore-Towson, MD | 4 | $ 766,000 | $ 191,500 | $ 113,000 |
| Cape Coral-Fort Myers, FL | 4 | $ 446,000 | $ 111,500 | $ 941,000 |
| Dalton, GA | 4 | $ 331,000 | $ 82,750 | $ 55,000 |
| Lynchburg, VA | 4 | $ 676,000 | $ 169,000 | $ 59,000 |
| Nassau-Suffolk, NY | 4 | $ 3,466,000 | $ 866,500 | $ 252,000 |
| Warner Robins, GA | 4 | $ 494,000 | $ 123,500 | $ 49,000 |
| Dayton, OH | 3 | $ 276,000 | $ 92,000 | $ 47,000 |
| Ocala, FL | 3 | $ 285,000 | $ 95,000 | $ 33,000 |
| Pittsburgh, PA | 3 | $ 332,000 | $ 110,666 | $ 140,000 |
| Port St. Lucie-Fort Pierce, FL | 3 | $ 443,000 | $ 147,666 | $ 56,000 |
| Raleigh-Cary, NC | 3 | $ 309,000 | $ 103,000 | $ 44,000 |
| Rome, GA | 3 | $ 402,000 | $ 134,000 | $ 77,000 |
| Charlotte-Gastonia-Concord, NC-SC | 2 | $ 287,000 | $ 143,500 | $ 69,000 |
| Dover, DE | 2 | $ 424,000 | $ 212,000 | $ 74,000 |
| Naples-Marco Island, FL | 2 | $ 1,050,000 | $ 525,000 | $ 143,000 |
| New York-Wayne-White Plains, NY-NJ | 2 | $ 903,000 | $ 451,500 | $ 252,000 |
| Palm Bay-Melbourne-Titusville, FL | 2 | $ 615,000 | $ 307,500 | $ 86,000 |
| Roanoke, VA | 2 | $ 1,278,000 | $ 639,000 | $ 1,071,000 |
| Boston-Quincy, MA | 1 | $ 1,000,000 | $ 1,000,000 | $ 288,000 |
| Charleston, WV | 1 | $ 91,000 | $ 91,000 | $ 60,000 |
| Cincinnati-Middletown, OH-KY-IN | 1 | $ 1,350,000 | $ 1,350,000 | $ 880,000 |
| Columbus, OH | 1 | $ 117,000 | $ 117,000 | $ 52,000 |
| Fort Walton Beach-Crestview-Destin, FL | 1 | $ 3,700,000 | $ 3,700,000 | $ 880,000 |
| Gainesville, FL | 1 | $ 133,000 | $ 133,000 | $ 199,000 |
| Gainesville, GA | 1 | $ 152,000 | $ 152,000 | $ 47,000 |
| Harrisburg-Carlisle, PA | 1 | $ 100,000 | $ 100,000 | $ 92,000 |
| Hickory-Lenoir-Morganton, NC | 1 | $ 126,000 | $ 126,000 | $ 54,000 |
| Hinesville-Fort Stewart, GA | 1 | $ 121,000 | $ 121,000 | $ 80,000 |
| Panama City-Lynn Haven, FL | 1 | $ 230,000 | $ 230,000 | $ 329,000 |
| Pascagoula, MS | 1 | $ 98,000 | $ 98,000 | $ 144,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 1 | $ 284,000 | $ 284,000 | $ 85,000 |
| Richmond, VA | 1 | $ 95,000 | $ 95,000 | $ 50,000 |
| State College, PA | 1 | $ 137,000 | $ 137,000 | $ 23,000 |
| Tallahassee, FL | 1 | $ 70,000 | $ 70,000 | $ 103,000 |
| Warren-Farmington Hills-Troy, MI | 1 | $ 184,000 | $ 184,000 | $ 39,000 |
Mortgage Loan Application Detail Totals for Southern Commerce Bank in 2005
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 | 345 | $54,851,000 | $173,090 | $713,000 | $117,181 | $1,351,000 |
| Refinancing | 310 | $60,457,000 | $304,071 | $3,700,000 | $134,142 | $999,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 374 | $72,198,000 | $285,000 | $3,700,000 | $125,785 | $1,087,000 |
| Hispanic | 142 | $21,907,000 | $118,500 | $600,000 | $68,000 | $401,000 |
| Black or African American | 87 | $12,738,000 | $196,750 | $550,000 | $77,625 | $232,000 |
| Not Provided | 41 | $6,434,000 | $168,600 | $664,000 | $83,800 | $375,000 |
| Asian | 7 | $1,163,000 | $156,500 | $368,000 | $102,500 | $218,000 |
| American Indian or Alaskan Native | 2 | $205,000 | $102,000 | $164,000 | $74,000 | $74,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $50,000 | $50,000 | $50,000 | $62,000 | $62,000 |
| Not applicable | 1 | $613,000 | $613,000 | $613,000 | $1,351,000 | $1,351,000 |
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) | 655 | $115,308,000 | $248,125 | $3,700,000 | $116,437 | $1,351,000 |
| 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 | 270 | $44,651,000 | $176,900 | $1,000,000 | $133,200 | $1,351,000 |
| Application Withdrawn By Applicant | 148 | $30,335,000 | $396,500 | $3,700,000 | $177,166 | $1,042,000 |
| Application Denied By Financial Institution | 100 | $13,842,000 | $186,900 | $713,000 | $74,300 | $950,000 |
| File Closed For Incompleteness | 97 | $17,856,000 | $177,636 | $1,204,000 | $70,545 | $480,000 |
| Application Approved But Not Accepted | 24 | $4,995,000 | $262,666 | $777,000 | $102,000 | $350,000 |
| Loan Purchased By The Institution | 16 | $3,629,000 | $226,000 | $552,000 | $117,000 | $288,000 |
| 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 | 52 | $6,502,000 | $148,166 | $664,000 | $60,833 | $950,000 |
| Debt-To-Income Ratio | 21 | $2,928,000 | $147,285 | $252,000 | $48,428 | $76,000 |
| Other | 11 | $1,814,000 | $243,250 | $660,000 | $98,750 | $300,000 |
| Collateral | 9 | $1,172,000 | $112,500 | $215,000 | $121,500 | $400,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $1,108,000 | $195,666 | $713,000 | $113,666 | $252,000 |
| Mortgage Insurance Denied | 1 | $228,000 | $228,000 | $228,000 | $89,000 | $89,000 |
| Employment History | 1 | $90,000 | $90,000 | $90,000 | $144,000 | $144,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Southern Commerce Bank's 2005 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 Southern Commerce Bank'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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