Sterling Bank & Trust, FSB Mortgage Lending & HMDA Data, 2009
In 2009, Sterling Bank & Trust, FSB of Southfield, MI reported 371 mortgage applications totaling $129.2 million, up 4% from 2008. The average application was for $348,291, and applicants reported an average income of $145,660. 49% of its applications resulted in an originated loan and 14% were denied. Its largest markets were San Francisco-San Mateo-Redwood City, CA (263), Warren-Troy-Farmington Hills, MI (33) and Detroit-Livonia-Dearborn, MI (18) (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 | 371 |
| Total Mortgage Loan Application Amount | $129,216,000 |
| Average Mortgage Loan Application Amount | $348,291 |
| Highest Mortgage Loan Application Amount | $2,248,000 |
| Average Applicant Income | $145,660 |
| Highest Applicant Income | $1,212,000 |
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records Sterling Bank & Trust, FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| San Francisco, California | 250 | $ 96,790,000 | $ 387,160 | $ 162,000 |
| Oakland, Michigan | 23 | $ 4,841,000 | $ 210,478 | $ 106,000 |
| Wayne, Michigan | 18 | $ 5,796,000 | $ 322,000 | $ 66,000 |
| San Mateo, California | 11 | $ 4,494,000 | $ 408,545 | $ 128,000 |
| Washtenaw, Michigan | 11 | $ 959,000 | $ 87,181 | $ 43,000 |
| Macomb, Michigan | 7 | $ 1,579,000 | $ 225,571 | $ 101,000 |
| Alameda, California | 5 | $ 2,522,000 | $ 504,400 | $ 175,000 |
| Solano, California | 3 | $ 646,000 | $ 215,333 | $ 62,000 |
| Marin, California | 2 | $ 986,000 | $ 493,000 | $ 312,000 |
| Marion, Indiana | 2 | $ 177,000 | $ 88,500 | $ 37,000 |
| Horry, South Carolina | 2 | $ 373,000 | $ 186,500 | $ 148,000 |
| Contra Costa, California | 1 | $ 120,000 | $ 120,000 | $ 136,000 |
| El Dorado, California | 1 | $ 417,000 | $ 417,000 | $ 1,060,000 |
| Los Angeles, California | 1 | $ 670,000 | $ 670,000 | $ 175,000 |
| Monterey, California | 1 | $ 650,000 | $ 650,000 | $ 117,000 |
| Placer, California | 1 | $ 500,000 | $ 500,000 | $ 756,000 |
| Santa Clara, California | 1 | $ 700,000 | $ 700,000 | $ 212,000 |
| Sonoma, California | 1 | $ 250,000 | $ 250,000 | $ 116,000 |
| Pitkin, Colorado | 1 | $ 650,000 | $ 650,000 | $ 0 |
| Summit, Colorado | 1 | $ 729,000 | $ 729,000 | $ 625,000 |
| Will, Illinois | 1 | $ 256,000 | $ 256,000 | $ 76,000 |
| Shawnee, Kansas | 1 | $ 30,000 | $ 30,000 | $ 66,000 |
| Berrien, Michigan | 1 | $ 59,000 | $ 59,000 | $ 43,000 |
| Ingham, Michigan | 1 | $ 306,000 | $ 306,000 | $ 151,000 |
| Jackson, Michigan | 1 | $ 351,000 | $ 351,000 | $ 104,000 |
| Lapeer, Michigan | 1 | $ 155,000 | $ 155,000 | $ 95,000 |
| Livingston, Michigan | 1 | $ 225,000 | $ 225,000 | $ 67,000 |
| St. Clair, Michigan | 1 | $ 100,000 | $ 100,000 | $ 57,000 |
| Monmouth, New Jersey | 1 | $ 417,000 | $ 417,000 | $ 121,000 |
| Westchester, New York | 1 | $ 360,000 | $ 360,000 | $ 210,000 |
| Cuyahoga, Ohio | 1 | $ 51,000 | $ 51,000 | $ 31,000 |
| Amherst, Virginia | 1 | $ 188,000 | $ 188,000 | $ 51,000 |
Mortgage Loan Application Detail Totals for Sterling Bank & Trust, FSB in 2009
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 | 257 | $90,801,000 | $353,000 | $2,248,000 | $143,000 | $1,212,000 |
| Refinancing | 113 | $37,088,000 | $328,000 | $1,503,000 | $153,000 | $1,060,000 |
| Home Improvement | 1 | $1,327,000 | $1,327,000 | $1,327,000 | $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 | 173 | $56,400,000 | $326,000 | $858,000 | $166,000 | $1,060,000 |
| Not Provided | 128 | $53,500,000 | $417,000 | $2,248,000 | $152,000 | $1,212,000 |
| Asian | 29 | $9,464,000 | $326,000 | $638,000 | $127,000 | $291,000 |
| Black or African American | 29 | $3,189,000 | $109,000 | $427,000 | $54,000 | $200,000 |
| Hispanic | 5 | $1,456,000 | $291,000 | $398,000 | $102,000 | $147,000 |
| Not applicable | 5 | $4,471,000 | $894,000 | $1,503,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 2 | $736,000 | $368,000 | $552,000 | $184,000 | $229,000 |
| 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) | 356 | $127,600,000 | $358,000 | $2,248,000 | $150,000 | $1,212,000 |
| FHA-insured (Federal Housing Administration) | 15 | $1,616,000 | $107,000 | $330,000 | $48,000 | $90,000 |
| 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 | 180 | $67,511,000 | $375,000 | $2,248,000 | $163,000 | $1,212,000 |
| File Closed For Incompleteness | 80 | $27,132,000 | $339,000 | $1,017,000 | $125,000 | $600,000 |
| Application Denied By Financial Institution | 52 | $15,729,000 | $302,000 | $800,000 | $136,000 | $756,000 |
| Application Approved But Not Accepted | 35 | $13,398,000 | $382,000 | $1,743,000 | $158,000 | $683,000 |
| Preapproval Approved but not Accepted | 10 | $1,883,000 | $188,000 | $520,000 | $71,000 | $147,000 |
| Application Withdrawn By Applicant | 8 | $2,577,000 | $322,000 | $497,000 | $134,000 | $237,000 |
| Preapproval Denied by Financial Institution | 6 | $986,000 | $164,000 | $390,000 | $84,000 | $258,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 21 | $7,783,000 | $370,000 | $800,000 | $152,000 | $469,000 |
| Credit History | 13 | $2,057,000 | $158,000 | $351,000 | $78,000 | $280,000 |
| Collateral | 9 | $2,051,000 | $227,000 | $405,000 | $103,000 | $284,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $1,088,000 | $217,000 | $394,000 | $72,000 | $120,000 |
| Other | 5 | $1,709,000 | $341,000 | $503,000 | $178,000 | $469,000 |
| Employment History | 4 | $1,527,000 | $381,000 | $650,000 | $109,000 | $246,000 |
| Unverifiable Information | 1 | $500,000 | $500,000 | $500,000 | $756,000 | $756,000 |
| Mortgage Insurance Denied | 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 2009 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.
For a list of all lenders in Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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