Sterling Bank & Trust, FSB Mortgage Lending & HMDA Data, 2003
In 2003, Sterling Bank & Trust, FSB of Southfield, MI reported 837 mortgage applications totaling $199.3 million. The average application was for $238,091, and applicants reported an average income of $97,273. 29% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Detroit, MI (477), San Francisco, CA (109) and Oakland, CA (88) (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 | 837 |
| Total Mortgage Loan Application Amount | $199,283,000 |
| Average Mortgage Loan Application Amount | $238,091 |
| Highest Mortgage Loan Application Amount | $4,100,000 |
| Average Applicant Income | $97,273 |
| Highest Applicant Income | $1,000,000 |
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records Sterling Bank & Trust, FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Oakland, Michigan | 177 | $ 39,412,000 | $ 222,666 | $ 100,000 |
| Wayne, Michigan | 166 | $ 17,729,000 | $ 106,801 | $ 55,000 |
| Macomb, Michigan | 126 | $ 16,322,000 | $ 129,539 | $ 53,000 |
| Alameda, California | 59 | $ 15,319,000 | $ 259,644 | $ 92,000 |
| Santa Clara, California | 49 | $ 22,322,000 | $ 455,551 | $ 173,000 |
| San Mateo, California | 47 | $ 13,218,000 | $ 281,234 | $ 104,000 |
| San Francisco, California | 46 | $ 14,339,000 | $ 311,717 | $ 99,000 |
| Contra Costa, California | 29 | $ 6,511,000 | $ 224,517 | $ 112,000 |
| Los Angeles, California | 23 | $ 11,180,000 | $ 486,086 | $ 170,000 |
| San Diego, California | 18 | $ 7,750,000 | $ 430,555 | $ 124,000 |
| Marin, California | 16 | $ 4,869,000 | $ 304,312 | $ 201,000 |
| Orange, California | 14 | $ 6,155,000 | $ 439,642 | $ 179,000 |
| Washtenaw, Michigan | 9 | $ 4,787,000 | $ 531,888 | $ 63,000 |
| Ventura, California | 6 | $ 3,361,000 | $ 560,166 | $ 335,000 |
| Genesee, Michigan | 5 | $ 413,000 | $ 82,600 | $ 54,000 |
| St. Clair, Michigan | 5 | $ 459,000 | $ 91,800 | $ 38,000 |
| Riverside, California | 3 | $ 915,000 | $ 305,000 | $ 111,000 |
| Livingston, Michigan | 3 | $ 612,000 | $ 204,000 | $ 115,000 |
| Fresno, California | 2 | $ 3,325,000 | $ 1,662,500 | $ 0 |
| Solano, California | 2 | $ 465,000 | $ 232,500 | $ 71,000 |
| Sonoma, California | 2 | $ 379,000 | $ 189,500 | $ 104,000 |
| Hillsdale, Michigan | 2 | $ 242,000 | $ 121,000 | $ 49,000 |
| Lapeer, Michigan | 2 | $ 3,557,000 | $ 1,778,500 | $ 57,000 |
| Tuscola, Michigan | 2 | $ 213,000 | $ 106,500 | $ 62,000 |
| Calaveras, California | 1 | $ 180,000 | $ 180,000 | $ 150,000 |
| El Dorado, California | 1 | $ 518,000 | $ 518,000 | $ 39,000 |
| Merced, California | 1 | $ 358,000 | $ 358,000 | $ 202,000 |
| Monterey, California | 1 | $ 415,000 | $ 415,000 | $ 67,000 |
| Placer, California | 1 | $ 384,000 | $ 384,000 | $ 225,000 |
| San Bernardino, California | 1 | $ 105,000 | $ 105,000 | $ 120,000 |
| Arenac, Michigan | 1 | $ 54,000 | $ 54,000 | $ 48,000 |
| Cheboygan, Michigan | 1 | $ 73,000 | $ 73,000 | $ 49,000 |
| Emmet, Michigan | 1 | $ 742,000 | $ 742,000 | $ 278,000 |
| Grand Traverse, Michigan | 1 | $ 48,000 | $ 48,000 | $ 43,000 |
| Huron, Michigan | 1 | $ 209,000 | $ 209,000 | $ 61,000 |
| Ingham, Michigan | 1 | $ 40,000 | $ 40,000 | $ 57,000 |
| Iosco, Michigan | 1 | $ 128,000 | $ 128,000 | $ 134,000 |
| Kalamazoo, Michigan | 1 | $ 100,000 | $ 100,000 | $ 77,000 |
| Kent, Michigan | 1 | $ 104,000 | $ 104,000 | $ 58,000 |
| Mason, Michigan | 1 | $ 53,000 | $ 53,000 | $ 64,000 |
| Monroe, Michigan | 1 | $ 80,000 | $ 80,000 | $ 63,000 |
| Montmorency, Michigan | 1 | $ 172,000 | $ 172,000 | $ 31,000 |
| Muskegon, Michigan | 1 | $ 100,000 | $ 100,000 | $ 41,000 |
| Newaygo, Michigan | 1 | $ 99,000 | $ 99,000 | $ 93,000 |
| Ogemaw, Michigan | 1 | $ 79,000 | $ 79,000 | $ 122,000 |
| Ottawa, Michigan | 1 | $ 312,000 | $ 312,000 | $ 24,000 |
| Sanilac, Michigan | 1 | $ 1,000,000 | $ 1,000,000 | $ 0 |
| Van Buren, Michigan | 1 | $ 76,000 | $ 76,000 | $ 112,000 |
Mortgage Loan Application Detail Totals for Sterling Bank & Trust, FSB in 2003
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 (home purchase or home improvement, one-to-four family) | 762 | $152,791,000 | $221,500 | $1,255,000 | $107,500 | $1,000,000 |
| Home Purchase (one-to-four family) | 51 | $11,999,000 | $275,500 | $1,000,000 | $106,000 | $730,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 23 | $34,103,000 | $1,493,000 | $4,100,000 | $0 | $0 |
| Home Improvement (one-to-four family) | 1 | $390,000 | $390,000 | $390,000 | $99,000 | $99,000 |
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 | 495 | $95,958,000 | $236,000 | $1,255,000 | $106,000 | $985,000 |
| Information not provided by applicant in mail or telephone application | 104 | $16,566,000 | $176,500 | $489,000 | $144,500 | $908,000 |
| Asian or Pacific Islander | 103 | $32,867,000 | $275,000 | $969,000 | $132,000 | $1,000,000 |
| Black | 57 | $5,972,000 | $160,500 | $443,000 | $65,500 | $419,000 |
| Hispanic | 28 | $6,830,000 | $186,500 | $997,000 | $83,000 | $455,000 |
| Not applicable | 28 | $37,025,000 | $1,277,000 | $4,100,000 | $66,500 | $555,000 |
| Other | 17 | $3,153,000 | $207,000 | $452,000 | $81,500 | $230,000 |
| American Indian or Alaskan Native | 5 | $912,000 | $191,500 | $359,000 | $69,500 | $136,000 |
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) | 837 | $199,283,000 | $258,500 | $4,100,000 | $102,500 | $1,000,000 |
| 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 Purchased By The Institution | 466 | $114,141,000 | $232,000 | $1,255,000 | $106,500 | $1,000,000 |
| Loan Originated | 243 | $65,708,000 | $309,000 | $4,100,000 | $74,500 | $479,000 |
| Application Denied By Financial Institution | 47 | $6,780,000 | $143,000 | $602,000 | $85,000 | $419,000 |
| Application Withdrawn By Applicant | 40 | $7,001,000 | $282,500 | $742,000 | $126,000 | $314,000 |
| Application Approved But Not Accepted | 40 | $5,580,000 | $144,000 | $1,000,000 | $104,000 | $730,000 |
| File Closed For Incompleteness | 1 | $73,000 | $73,000 | $73,000 | $38,000 | $38,000 |
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 |
|---|---|---|---|---|---|---|
| Credit History | 30 | $4,715,000 | $157,500 | $602,000 | $103,500 | $419,000 |
| Debt-To-Income Ratio | 7 | $934,000 | $133,000 | $220,000 | $63,000 | $102,000 |
| Collateral | 5 | $576,000 | $112,000 | $315,000 | $67,500 | $126,000 |
| Unverifiable Information | 3 | $343,000 | $114,000 | $124,000 | $42,000 | $60,000 |
| Employment History | 1 | $90,000 | $90,000 | $90,000 | $49,000 | $49,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $122,000 | $122,000 | $122,000 | $25,000 | $25,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sterling Bank & Trust, FSB's 2003 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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