Auto Club Trust, FSB Mortgage Lending & HMDA Data, 2017
In 2017, Auto Club Trust, FSB of Dearborn, MI reported 546 mortgage applications totaling $122.3 million. The average application was for $223,926, and applicants reported an average income of $137,967. 36% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Omaha-Council Bluffs, NE-IA (91), Atlanta-Sandy Springs-Roswell, GA (64) and Detroit-Dearborn-Livonia, MI (57) (applications in parentheses).
| Mortgage Company & Address | Auto Club Trust, FSB 1 Autoclub Drive Dearborn, MI 48126 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2017 |
| Total Number of Mortgage Applications | 546 |
| Total Mortgage Loan Application Amount | $122,264,000 |
| Average Mortgage Loan Application Amount | $223,926 |
| Highest Mortgage Loan Application Amount | $1,273,000 |
| Average Applicant Income | $137,967 |
| Highest Applicant Income | $2,174,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Auto Club Trust, FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Auto Club Trust, FSB in 2017
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 | 270 | $63,566,000 | $235,000 | $1,273,000 | $153,000 | $2,174,000 |
| Refinancing | 180 | $50,972,000 | $283,000 | $1,082,000 | $149,000 | $697,000 |
| Home Improvement | 96 | $7,726,000 | $80,000 | $1,000,000 | $75,000 | $523,000 |
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 | 322 | $72,738,000 | $225,000 | $1,273,000 | $147,000 | $2,174,000 |
| Black or African American | 92 | $9,683,000 | $105,000 | $674,000 | $75,000 | $1,315,000 |
| Not Provided | 71 | $23,468,000 | $330,000 | $1,000,000 | $176,000 | $829,000 |
| Hispanic | 36 | $7,199,000 | $199,000 | $731,000 | $106,000 | $735,000 |
| Asian | 22 | $8,199,000 | $372,000 | $866,000 | $190,000 | $340,000 |
| American Indian or Alaskan Native | 2 | $917,000 | $458,000 | $764,000 | $269,000 | $425,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $60,000 | $60,000 | $60,000 | $35,000 | $35,000 |
| 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) | 511 | $116,768,000 | $228,000 | $1,273,000 | $143,000 | $2,174,000 |
| FHA-insured (Federal Housing Administration) | 22 | $3,370,000 | $153,000 | $360,000 | $60,000 | $130,000 |
| VA-guaranteed (Veterans Administration) | 12 | $2,121,000 | $176,000 | $347,000 | $63,000 | $148,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $5,000 | $5,000 | $5,000 | $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 | 195 | $26,991,000 | $138,000 | $744,000 | $89,000 | $506,000 |
| Loan Purchased By The Institution | 179 | $74,982,000 | $418,000 | $1,273,000 | $262,000 | $2,174,000 |
| Application Denied By Financial Institution | 66 | $7,486,000 | $113,000 | $1,000,000 | $69,000 | $1,315,000 |
| Application Withdrawn By Applicant | 50 | $6,804,000 | $136,000 | $422,000 | $80,000 | $217,000 |
| Preapproval Denied by Financial Institution | 21 | $2,116,000 | $100,000 | $190,000 | $20,000 | $77,000 |
| File Closed For Incompleteness | 16 | $1,802,000 | $112,000 | $380,000 | $58,000 | $130,000 |
| Application Approved But Not Accepted | 14 | $1,457,000 | $104,000 | $342,000 | $69,000 | $195,000 |
| Preapproval Approved but not Accepted | 5 | $626,000 | $125,000 | $230,000 | $41,000 | $58,000 |
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 | 47 | $4,345,000 | $92,000 | $240,000 | $27,000 | $90,000 |
| Debt-To-Income Ratio | 23 | $2,748,000 | $119,000 | $307,000 | $37,000 | $112,000 |
| Collateral | 12 | $1,279,000 | $106,000 | $340,000 | $177,000 | $1,315,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $220,000 | $110,000 | $172,000 | $44,000 | $63,000 |
| Other | 2 | $1,005,000 | $502,000 | $1,000,000 | $279,000 | $523,000 |
| Unverifiable Information | 1 | $5,000 | $5,000 | $5,000 | $15,000 | $15,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Auto Club Trust, FSB's 2017 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 Auto Club 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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