Sterling Bank and Trust, FSB Mortgage Lending & HMDA Data, 2016
In 2016, Sterling Bank and Trust, FSB of Southfield, MI reported 2,383 mortgage applications totaling $1.3 billion, up 16% from 2015. The average application was for $542,554, and applicants reported an average income of $198,789. 78% of its applications resulted in an originated loan and 3% were denied. Its largest markets were San Francisco-Redwood City-South San Francisco, CA (757), Oakland-Hayward-Berkeley, CA (686) and Los Angeles-Long Beach-Glendale, CA (348) (applications in parentheses).
| Mortgage Company & Address | Sterling Bank and Trust, FSB One Towne Square, Suite 1900 Southfield, MI 48076 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 2,383 |
| Total Mortgage Loan Application Amount | $1,292,907,000 |
| Average Mortgage Loan Application Amount | $542,554 |
| Highest Mortgage Loan Application Amount | $6,400,000 |
| Average Applicant Income | $198,789 |
| Highest Applicant Income | $5,400,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sterling Bank and Trust, FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 496 | $ 312,397,000 | $ 629,832 | $ 232,000 |
| Alameda, California | 430 | $ 190,951,000 | $ 444,072 | $ 155,000 |
| Los Angeles, California | 348 | $ 204,701,000 | $ 588,221 | $ 203,000 |
| San Mateo, California | 261 | $ 173,170,000 | $ 663,486 | $ 245,000 |
| Contra Costa, California | 256 | $ 89,048,000 | $ 347,843 | $ 136,000 |
| Santa Clara, California | 162 | $ 119,434,000 | $ 737,246 | $ 288,000 |
| San Bernardino, California | 152 | $ 49,860,000 | $ 328,026 | $ 123,000 |
| Orange, California | 133 | $ 100,039,000 | $ 752,172 | $ 271,000 |
| Riverside, California | 67 | $ 22,219,000 | $ 331,626 | $ 110,000 |
| Marin, California | 22 | $ 13,765,000 | $ 625,681 | $ 258,000 |
| Sacramento, California | 6 | $ 1,068,000 | $ 178,000 | $ 50,000 |
| King, Washington | 5 | $ 2,788,000 | $ 557,600 | $ 197,000 |
| San Joaquin, California | 4 | $ 963,000 | $ 240,750 | $ 147,000 |
| Clark, Nevada | 4 | $ 689,000 | $ 172,250 | $ 117,000 |
| Santa Barbara, California | 3 | $ 895,000 | $ 298,333 | $ 132,000 |
| Sonoma, California | 3 | $ 900,000 | $ 300,000 | $ 195,000 |
| Macomb, Michigan | 3 | $ 435,000 | $ 145,000 | $ 40,000 |
| Wayne, Michigan | 3 | $ 712,000 | $ 237,333 | $ 145,000 |
| Polk, Oregon | 3 | $ 260,000 | $ 86,666 | $ 57,000 |
| Solano, California | 2 | $ 619,000 | $ 309,500 | $ 126,000 |
| Oakland, Michigan | 2 | $ 570,000 | $ 285,000 | $ 24,000 |
| Maricopa, Arizona | 1 | $ 139,000 | $ 139,000 | $ 9,000 |
| Calaveras, California | 1 | $ 200,000 | $ 200,000 | $ 76,000 |
| Monterey, California | 1 | $ 165,000 | $ 165,000 | $ 65,000 |
| Napa, California | 1 | $ 975,000 | $ 975,000 | $ 1,143,000 |
| Nevada, California | 1 | $ 90,000 | $ 90,000 | $ 180,000 |
| Placer, California | 1 | $ 290,000 | $ 290,000 | $ 258,000 |
| San Diego, California | 1 | $ 300,000 | $ 300,000 | $ 180,000 |
| Ventura, California | 1 | $ 180,000 | $ 180,000 | $ 1,000 |
| Hawaii, Hawaii | 1 | $ 626,000 | $ 626,000 | $ 409,000 |
| Livingston, Michigan | 1 | $ 240,000 | $ 240,000 | $ 168,000 |
| Clackamas, Oregon | 1 | $ 309,000 | $ 309,000 | $ 187,000 |
| Tarrant, Texas | 1 | $ 105,000 | $ 105,000 | $ 103,000 |
Mortgage Loan Application Detail Totals for Sterling Bank and Trust, FSB in 2016
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 | 1,869 | $1,038,670,000 | $555,000 | $6,400,000 | $205,000 | $5,400,000 |
| Refinancing | 490 | $237,790,000 | $485,000 | $4,600,000 | $177,000 | $1,020,000 |
| Home Improvement | 24 | $16,447,000 | $685,000 | $6,000,000 | $160,000 | $468,000 |
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 |
|---|---|---|---|---|---|---|
| Asian | 2,031 | $1,078,111,000 | $530,000 | $3,600,000 | $201,000 | $5,400,000 |
| White | 217 | $114,271,000 | $526,000 | $1,820,000 | $203,000 | $1,028,000 |
| Not Provided | 70 | $35,405,000 | $505,000 | $1,350,000 | $222,000 | $1,143,000 |
| Hispanic | 32 | $13,441,000 | $420,000 | $800,000 | $154,000 | $379,000 |
| Not applicable | 17 | $45,011,000 | $2,647,000 | $6,400,000 | $0 | $0 |
| Native Hawaiin or Other Pacific Islander | 7 | $3,712,000 | $530,000 | $1,350,000 | $160,000 | $281,000 |
| Black or African American | 7 | $1,956,000 | $279,000 | $406,000 | $149,000 | $469,000 |
| American Indian or Alaskan Native | 2 | $1,000,000 | $500,000 | $750,000 | $124,000 | $180,000 |
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) | 2,383 | $1,292,907,000 | $542,000 | $6,400,000 | $199,000 | $5,400,000 |
| 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 | 1,857 | $1,000,344,000 | $538,000 | $6,400,000 | $198,000 | $5,400,000 |
| Application Withdrawn By Applicant | 274 | $155,224,000 | $566,000 | $6,000,000 | $206,000 | $2,400,000 |
| Application Approved But Not Accepted | 161 | $88,207,000 | $547,000 | $4,600,000 | $213,000 | $2,400,000 |
| Application Denied By Financial Institution | 79 | $42,449,000 | $537,000 | $1,725,000 | $172,000 | $663,000 |
| File Closed For Incompleteness | 6 | $2,878,000 | $479,000 | $1,000,000 | $216,000 | $609,000 |
| Preapproval Denied by Financial Institution | 5 | $3,571,000 | $714,000 | $975,000 | $281,000 | $942,000 |
| Preapproval Approved but not Accepted | 1 | $234,000 | $234,000 | $234,000 | $80,000 | $80,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 29 | $17,158,000 | $591,000 | $1,525,000 | $217,000 | $942,000 |
| Debt-To-Income Ratio | 21 | $11,262,000 | $536,000 | $1,725,000 | $135,000 | $663,000 |
| Collateral | 12 | $6,405,000 | $533,000 | $1,171,000 | $167,000 | $420,000 |
| Other | 8 | $5,249,000 | $656,000 | $1,144,000 | $211,000 | $473,000 |
| Unverifiable Information | 5 | $1,608,000 | $321,000 | $748,000 | $196,000 | $292,000 |
| Employment History | 4 | $3,055,000 | $763,000 | $1,015,000 | $169,000 | $312,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $966,000 | $322,000 | $417,000 | $166,000 | $334,000 |
| Mortgage Insurance Denied | 1 | $216,000 | $216,000 | $216,000 | $36,000 | $36,000 |
| Credit Application Incomplete | 1 | $101,000 | $101,000 | $101,000 | $36,000 | $36,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sterling Bank and Trust, FSB's 2016 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 and 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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