Sterling Bank & Trust, FSB Mortgage Lending & HMDA Data, 2010
In 2010, Sterling Bank & Trust, FSB of Southfield, MI reported 330 mortgage applications totaling $147.9 million, down 11% from 2009. The average application was for $448,293, and applicants reported an average income of $111,509. 44% of its applications resulted in an originated loan and 12% were denied. Its largest markets were San Francisco-San Mateo-Redwood City, CA (290), Oakland-Fremont-Hayward, CA (13) and Warren-Troy-Farmington Hills, MI (8) (applications in parentheses).
| Mortgage Company & Address | Sterling Bank & Trust, FSB One Towne Square, 17th Floor Southfield, MI 48076 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 330 |
| Total Mortgage Loan Application Amount | $147,937,000 |
| Average Mortgage Loan Application Amount | $448,293 |
| Highest Mortgage Loan Application Amount | $3,743,000 |
| Average Applicant Income | $111,509 |
| Highest Applicant Income | $614,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sterling Bank & Trust, FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Sterling Bank & Trust, FSB in 2010
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 | 204 | $84,982,000 | $416,000 | $3,600,000 | $97,000 | $430,000 |
| Refinancing | 119 | $50,087,000 | $420,000 | $1,344,000 | $141,000 | $614,000 |
| Home Improvement | 7 | $12,868,000 | $1,838,000 | $3,743,000 | $33,000 | $177,000 |
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 | 143 | $58,404,000 | $408,000 | $1,339,000 | $153,000 | $614,000 |
| Not applicable | 77 | $44,485,000 | $577,000 | $3,743,000 | $0 | $0 |
| Not Provided | 52 | $25,173,000 | $484,000 | $2,065,000 | $151,000 | $537,000 |
| Asian | 31 | $11,810,000 | $380,000 | $1,344,000 | $114,000 | $362,000 |
| Black or African American | 12 | $1,666,000 | $138,000 | $383,000 | $77,000 | $230,000 |
| Hispanic | 12 | $5,012,000 | $417,000 | $645,000 | $166,000 | $321,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $1,387,000 | $462,000 | $573,000 | $201,000 | $240,000 |
| American Indian or Alaskan Native | 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) | 329 | $147,647,000 | $448,000 | $3,743,000 | $112,000 | $614,000 |
| FHA-insured (Federal Housing Administration) | 1 | $290,000 | $290,000 | $290,000 | $65,000 | $65,000 |
| 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 | 144 | $78,205,000 | $543,000 | $3,743,000 | $143,000 | $614,000 |
| Loan Purchased By The Institution | 67 | $22,558,000 | $336,000 | $688,000 | $0 | $0 |
| Application Denied By Financial Institution | 38 | $16,174,000 | $425,000 | $1,344,000 | $109,000 | $366,000 |
| Application Approved But Not Accepted | 36 | $13,726,000 | $381,000 | $885,000 | $169,000 | $537,000 |
| Application Withdrawn By Applicant | 22 | $8,118,000 | $369,000 | $680,000 | $126,000 | $225,000 |
| File Closed For Incompleteness | 17 | $6,186,000 | $363,000 | $570,000 | $141,000 | $268,000 |
| Preapproval Approved but not Accepted | 5 | $2,570,000 | $514,000 | $730,000 | $152,000 | $243,000 |
| Preapproval Denied by Financial Institution | 1 | $400,000 | $400,000 | $400,000 | $80,000 | $80,000 |
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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 15 | $7,061,000 | $470,000 | $1,050,000 | $77,000 | $130,000 |
| Collateral | 11 | $5,799,000 | $527,000 | $1,344,000 | $157,000 | $346,000 |
| Credit History | 6 | $1,945,000 | $324,000 | $750,000 | $128,000 | $366,000 |
| Other | 3 | $1,183,000 | $394,000 | $524,000 | $115,000 | $144,000 |
| Unverifiable Information | 1 | $143,000 | $143,000 | $143,000 | $69,000 | $69,000 |
| Employment History | 1 | $150,000 | $150,000 | $150,000 | $97,000 | $97,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $70,000 | $70,000 | $70,000 | $24,000 | $24,000 |
| Mortgage Insurance Denied | 1 | $223,000 | $223,000 | $223,000 | $56,000 | $56,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sterling Bank & Trust, FSB's 2010 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 Sterling Bank & Trust, FSB'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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