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records Sterling Bank & Trust, FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Detroit, MI | 477 | $ 77,559,000 | $ 162,597 | $ 71,000 |
| San Francisco, CA | 109 | $ 32,426,000 | $ 297,486 | $ 120,000 |
| Oakland, CA | 88 | $ 21,830,000 | $ 248,068 | $ 102,000 |
| San Jose, CA | 49 | $ 22,322,000 | $ 455,551 | $ 173,000 |
| Los Angeles-Long Beach, CA | 23 | $ 11,180,000 | $ 486,086 | $ 170,000 |
| San Diego, CA | 18 | $ 7,750,000 | $ 430,555 | $ 124,000 |
| Orange County, CA | 14 | $ 6,155,000 | $ 439,642 | $ 179,000 |
| Ann Arbor, MI | 12 | $ 5,399,000 | $ 449,916 | $ 74,000 |
| Ventura, CA | 6 | $ 3,361,000 | $ 560,166 | $ 335,000 |
| Flint, MI | 5 | $ 413,000 | $ 82,600 | $ 54,000 |
| Riverside-San Bernardino, CA | 4 | $ 1,020,000 | $ 255,000 | $ 113,000 |
| Grand Rapids-Muskegon-Holland, MI | 3 | $ 516,000 | $ 172,000 | $ 41,000 |
| Fresno, CA | 2 | $ 3,325,000 | $ 1,662,500 | $ 0 |
| Kalamazoo-Battle Creek, MI | 2 | $ 176,000 | $ 88,000 | $ 94,000 |
| Sacramento, CA | 2 | $ 902,000 | $ 451,000 | $ 132,000 |
| Santa Rosa, CA | 2 | $ 379,000 | $ 189,500 | $ 104,000 |
| Vallejo-Fairfield-Napa, CA | 2 | $ 465,000 | $ 232,500 | $ 71,000 |
| Lansing-East Lansing, MI | 1 | $ 40,000 | $ 40,000 | $ 57,000 |
| Merced, CA | 1 | $ 358,000 | $ 358,000 | $ 202,000 |
| Salinas, CA | 1 | $ 415,000 | $ 415,000 | $ 67,000 |
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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