Summit First Financial, LLC Mortgage Lending & HMDA Data, 2006
In 2006, Summit First Financial, LLC of Miamisburg, OH reported 330 mortgage applications totaling $40.5 million, up 22% from 2005. The average application was for $122,815, and applicants reported an average income of $86,660. 82% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Champaign-Urbana, IL (278), Danville, IL (11) and Chicago-Naperville-Joliet, IL (4) (applications in parentheses).
| Mortgage Company & Address | Summit First Financial, LLC 3232 Newmark Dr. Miamisburg, OH 45342 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 |
| Total Number of Mortgage Applications | 330 |
| Total Mortgage Loan Application Amount | $40,529,000 |
| Average Mortgage Loan Application Amount | $122,815 |
| Highest Mortgage Loan Application Amount | $388,000 |
| Average Applicant Income | $86,660 |
| Highest Applicant Income | $810,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Summit First Financial, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Summit First Financial, LLC in 2006
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 | 292 | $35,983,000 | $123,000 | $388,000 | $86,000 | $718,000 |
| Refinancing | 32 | $3,366,000 | $105,000 | $256,000 | $69,000 | $141,000 |
| Home Improvement | 6 | $1,180,000 | $196,000 | $350,000 | $213,000 | $810,000 |
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 | 288 | $35,778,000 | $124,000 | $388,000 | $83,000 | $810,000 |
| Black or African American | 20 | $1,852,000 | $92,000 | $210,000 | $62,000 | $125,000 |
| Hispanic | 12 | $1,325,000 | $110,000 | $164,000 | $113,000 | $584,000 |
| Asian | 6 | $953,000 | $158,000 | $188,000 | $155,000 | $418,000 |
| American Indian or Alaskan Native | 2 | $296,000 | $148,000 | $154,000 | $312,000 | $584,000 |
| Not Provided | 2 | $325,000 | $162,000 | $175,000 | $178,000 | $283,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 231 | $29,460,000 | $127,000 | $388,000 | $100,000 | $810,000 |
| FHA-insured (Federal Housing Administration) | 85 | $9,049,000 | $106,000 | $187,000 | $54,000 | $389,000 |
| VA-guaranteed (Veterans Administration) | 9 | $1,464,000 | $162,000 | $265,000 | $57,000 | $94,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $556,000 | $111,000 | $145,000 | $38,000 | $55,000 |
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 | 271 | $33,896,000 | $125,000 | $360,000 | $87,000 | $810,000 |
| Application Approved But Not Accepted | 39 | $4,481,000 | $114,000 | $388,000 | $64,000 | $283,000 |
| Application Denied By Financial Institution | 16 | $1,833,000 | $114,000 | $271,000 | $146,000 | $584,000 |
| Application Withdrawn By Applicant | 3 | $230,000 | $76,000 | $130,000 | $38,000 | $48,000 |
| Preapproval Denied by Financial Institution | 1 | $89,000 | $89,000 | $89,000 | $29,000 | $29,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 8 | $956,000 | $119,000 | $271,000 | $61,000 | $153,000 |
| Credit Application Incomplete | 4 | $533,000 | $133,000 | $154,000 | $318,000 | $584,000 |
| Collateral | 3 | $234,000 | $78,000 | $112,000 | $183,000 | $450,000 |
| Other | 1 | $89,000 | $89,000 | $89,000 | $27,000 | $27,000 |
| Debt-To-Income Ratio | 1 | $110,000 | $110,000 | $110,000 | $23,000 | $23,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Summit First Financial, LLC's 2006 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 Summit First Financial, LLC'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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