Southern Michigan Bank & Trust Mortgage Lending & HMDA Data, 2021
In 2021, Southern Michigan Bank & Trust of Coldwater, MI reported 571 mortgage applications totaling $124.4 million, down 23% from 2020. The average application was for $217,837, and applicants reported an average income of $106,467. 75% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Battle Creek, MI (101), Kalamazoo-Portage, MI (46) and South Bend-Mishawaka, IN-MI (8) (applications in parentheses).
| Mortgage Company & Address | Southern Michigan Bank & Trust 51 West Pearl Street Coldwater, MI 49036 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 571 |
| Total Mortgage Loan Application Amount | $124,385,000 |
| Average Mortgage Loan Application Amount | $217,837 |
| Highest Mortgage Loan Application Amount | $13,005,000 |
| Average Applicant Income | $106,467 |
| Highest Applicant Income | $2,400,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Southern Michigan Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Southern Michigan Bank & Trust in 2021
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 | 188 | $39,010,000 | $207,000 | $2,595,000 | $94,000 | $471,000 |
| Home Purchase | 181 | $53,095,000 | $293,000 | $13,005,000 | $126,000 | $2,400,000 |
| Cash-out Refinancing | 159 | $27,205,000 | $171,000 | $545,000 | $100,000 | $717,000 |
| Home Improvement | 24 | $1,760,000 | $73,000 | $355,000 | $66,000 | $123,000 |
| Other Purpose | 19 | $3,315,000 | $174,000 | $1,605,000 | $149,000 | $1,634,000 |
| Not Applicable | 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 | 498 | $86,020,000 | $172,000 | $1,605,000 | $102,000 | $1,634,000 |
| Not applicable | 55 | $35,465,000 | $644,000 | $13,005,000 | $0 | $0 |
| Hispanic | 10 | $1,300,000 | $130,000 | $265,000 | $90,000 | $308,000 |
| Black or African American | 4 | $630,000 | $157,000 | $255,000 | $106,000 | $163,000 |
| Not Provided | 2 | $260,000 | $130,000 | $135,000 | $63,000 | $67,000 |
| Asian | 2 | $710,000 | $355,000 | $485,000 | $1,368,000 | $2,400,000 |
| American Indian or Alaskan Native | 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) | 571 | $124,385,000 | $217,000 | $13,005,000 | $106,000 | $2,400,000 |
| 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 | 426 | $98,550,000 | $231,000 | $13,005,000 | $109,000 | $1,634,000 |
| Application Denied By Financial Institution | 71 | $11,555,000 | $162,000 | $965,000 | $73,000 | $425,000 |
| Application Approved But Not Accepted | 51 | $10,055,000 | $197,000 | $1,005,000 | $99,000 | $499,000 |
| File Closed For Incompleteness | 16 | $2,990,000 | $186,000 | $485,000 | $238,000 | $2,400,000 |
| Application Withdrawn By Applicant | 7 | $1,235,000 | $176,000 | $385,000 | $71,000 | $163,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 500 | $112,830,000 | $225,000 | $13,005,000 | $112,000 | $2,400,000 |
| Debt-To-Income Ratio | 41 | $5,955,000 | $145,000 | $405,000 | $51,000 | $311,000 |
| Credit History | 13 | $1,535,000 | $118,000 | $265,000 | $70,000 | $132,000 |
| Collateral | 11 | $2,735,000 | $248,000 | $565,000 | $124,000 | $230,000 |
| Employment History | 2 | $50,000 | $25,000 | $25,000 | $79,000 | $96,000 |
| Unverifiable Information | 2 | $260,000 | $130,000 | $205,000 | $59,000 | $79,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $965,000 | $965,000 | $965,000 | $425,000 | $425,000 |
| Other | 1 | $55,000 | $55,000 | $55,000 | $24,000 | $24,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Southern Michigan Bank & Trust's 2021 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 Michigan 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.
For a list of all lenders in Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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