The Riverbank Mortgage Lending & HMDA Data, 2010
In 2010, The Riverbank of Wyoming, MN reported 1,104 mortgage applications totaling $185.6 million, down 51% from 2009. The average application was for $168,090, and applicants reported an average income of $61,828. 90% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (512), Duluth, MN-WI (6) and Eau Claire, WI (4) (applications in parentheses).
| Mortgage Company & Address | The Riverbank 26777 Fallbrock Ave Po Box 97 Wyoming, MN 55092 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 2010 2009 2008 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,104 |
| Total Mortgage Loan Application Amount | $185,572,000 |
| Average Mortgage Loan Application Amount | $168,090 |
| Highest Mortgage Loan Application Amount | $3,343,000 |
| Average Applicant Income | $61,828 |
| Highest Applicant Income | $3,340,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Riverbank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | 512 | $ 96,873,000 | $ 189,205 | $ 67,500 |
| Duluth, MN-WI | 6 | $ 1,035,000 | $ 172,500 | $ 40,666 |
| Eau Claire, WI | 4 | $ 717,000 | $ 179,250 | $ 75,000 |
| La Crosse, WI-MN | 2 | $ 138,000 | $ 69,000 | $ 49,000 |
| St. Cloud, MN | 2 | $ 171,000 | $ 85,500 | $ 41,000 |
| Bridgeport-Stamford-Norwalk, CT | 1 | $ 300,000 | $ 300,000 | $ 3,340,000 |
| Green Bay, WI | 1 | $ 38,000 | $ 38,000 | $ 40,000 |
| Kansas City, MO-KS | 1 | $ 80,000 | $ 80,000 | $ 41,000 |
| Lakeland-Winter Haven, FL | 1 | $ 128,000 | $ 128,000 | $ 92,000 |
| Milwaukee-Waukesha-West Allis, WI | 1 | $ 238,000 | $ 238,000 | $ 209,000 |
| Phoenix-Mesa-Glendale, AZ | 1 | $ 90,000 | $ 90,000 | $ 0 |
Mortgage Loan Application Detail Totals for The Riverbank in 2010
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 | 883 | $155,238,000 | $175,000 | $3,343,000 | $59,000 | $3,340,000 |
| Home Purchase | 196 | $27,622,000 | $140,000 | $600,000 | $72,000 | $330,000 |
| Home Improvement | 25 | $2,712,000 | $108,000 | $295,000 | $82,000 | $134,000 |
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 | 924 | $145,203,000 | $157,000 | $600,000 | $62,000 | $3,340,000 |
| Not Provided | 146 | $27,548,000 | $188,000 | $1,729,000 | $74,000 | $694,000 |
| Not applicable | 18 | $10,641,000 | $591,000 | $3,343,000 | $0 | $0 |
| Asian | 6 | $1,024,000 | $170,000 | $279,000 | $38,000 | $131,000 |
| American Indian or Alaskan Native | 5 | $621,000 | $124,000 | $179,000 | $61,000 | $204,000 |
| Hispanic | 3 | $208,000 | $69,000 | $115,000 | $49,000 | $83,000 |
| Black or African American | 2 | $327,000 | $163,000 | $169,000 | $51,000 | $102,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 1,056 | $179,027,000 | $169,000 | $3,343,000 | $63,000 | $3,340,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 47 | $6,319,000 | $134,000 | $240,000 | $49,000 | $87,000 |
| FHA-insured (Federal Housing Administration) | 1 | $226,000 | $226,000 | $226,000 | $79,000 | $79,000 |
| 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 | 989 | $165,896,000 | $167,000 | $3,343,000 | $62,000 | $3,340,000 |
| Application Denied By Financial Institution | 64 | $10,502,000 | $164,000 | $600,000 | $56,000 | $251,000 |
| Application Approved But Not Accepted | 30 | $5,454,000 | $181,000 | $410,000 | $54,000 | $169,000 |
| Application Withdrawn By Applicant | 19 | $3,357,000 | $176,000 | $392,000 | $68,000 | $180,000 |
| File Closed For Incompleteness | 2 | $363,000 | $181,000 | $250,000 | $59,000 | $76,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 28 | $5,366,000 | $191,000 | $408,000 | $66,000 | $251,000 |
| Credit History | 15 | $1,438,000 | $95,000 | $220,000 | $47,000 | $90,000 |
| Debt-To-Income Ratio | 15 | $2,760,000 | $184,000 | $600,000 | $58,000 | $191,000 |
| Other | 2 | $317,000 | $158,000 | $162,000 | $19,000 | $38,000 |
| Unverifiable Information | 2 | $326,000 | $163,000 | $226,000 | $57,000 | $79,000 |
| Employment History | 1 | $125,000 | $125,000 | $125,000 | $23,000 | $23,000 |
| Mortgage Insurance Denied | 1 | $170,000 | $170,000 | $170,000 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Riverbank's 2010 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 The Riverbank'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 Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.
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