Sturgis Bank & Trust Mortgage Lending & HMDA Data, 2005
In 2005, Sturgis Bank & Trust of Sturgis, MI reported 114 mortgage applications totaling $5.1 million, down 7% from 2004. The average application was for $44,368, and applicants reported an average income of $43,684. 85% of its applications resulted in an originated loan and 11% were denied. Its largest market was Kalamazoo-Portage, MI (16).
| Mortgage Company & Address | Sturgis Bank & Trust 113-125 E Chicago Rd Sturgis, MI 49091 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 114 |
| Total Mortgage Loan Application Amount | $5,058,000 |
| Average Mortgage Loan Application Amount | $44,368 |
| Highest Mortgage Loan Application Amount | $362,000 |
| Average Applicant Income | $43,684 |
| Highest Applicant Income | $250,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sturgis Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Sturgis Bank & Trust in 2005
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 | 54 | $2,607,000 | $48,000 | $362,000 | $33,000 | $250,000 |
| Home Improvement | 31 | $667,000 | $23,000 | $186,000 | $64,500 | $132,000 |
| Home Purchase | 29 | $1,784,000 | $80,000 | $199,000 | $42,000 | $211,000 |
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 | 101 | $4,533,000 | $53,000 | $362,000 | $51,500 | $250,000 |
| Hispanic | 8 | $280,000 | $35,000 | $199,000 | $59,000 | $191,000 |
| Not applicable | 4 | $240,000 | $60,000 | $75,000 | $0 | $0 |
| Black or African American | 1 | $5,000 | $5,000 | $5,000 | $15,000 | $15,000 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 114 | $5,058,000 | $53,000 | $362,000 | $50,000 | $250,000 |
| 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 | 97 | $4,728,000 | $55,000 | $362,000 | $53,500 | $250,000 |
| Application Denied By Financial Institution | 13 | $115,000 | $8,000 | $30,000 | $32,000 | $68,000 |
| Application Withdrawn By Applicant | 4 | $215,000 | $53,000 | $160,000 | $55,000 | $132,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial 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 | 7 | $67,000 | $9,000 | $30,000 | $40,000 | $68,000 |
| Debt-To-Income Ratio | 5 | $45,000 | $9,000 | $22,000 | $23,000 | $31,000 |
| Employment History | 1 | $3,000 | $3,000 | $3,000 | $26,000 | $26,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sturgis Bank & Trust's 2005 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 Sturgis Bank & Trust'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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