Shannon County, SD Mortgage Lenders & HMDA Data, 2008
In 2008, lenders reported 45 mortgage applications in Shannon County, SD totaling $1.8 million, down 2% from 2007. The average application was for $39,000, and applicants reported an average income of $52,000. 49% of applications resulted in an originated loan and 36% were denied. The most active lender was Security First Bank, with 18 applications, followed by Wells Fargo Bank, NA and Bankwest, Inc..
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| Years | 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 45 |
| Total Mortgage Loan Application Amount | $1,786,000 |
| Average Mortgage Loan Application Amount | $39,000 |
| Highest Mortgage Loan Application Amount | $540,000 |
| Average Applicant Income | $52,000 |
| Highest Applicant Income | $163,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Security First Bank 5505 RED ROCK LANE LINCOLN, NE 68516 |
* | $ 516,114,000 | 18 | $ 219,000 |
| Wells Fargo Bank, NA 1 HOME CAMPUS, 4TH FLOOR, MAC X2301-042 DES MOINES, IA 50328 |
* | $ 467,861,000,000 | 9 | $ 173,000 |
| Bankwest, Inc. 420 S. PIERRE STREET, PO BOX 998 PIERRE, SD 57501 |
* | $ 675,894,000 | 6 | $ 764,000 |
| First Western Bank PO BOX 402 WALL, SD 57790 |
* | $ 504,705,000 | 3 | $ 52,000 |
| Eloan 9600 WEST BRYN MAWR ROSEMONT, IL 60018 |
* | $ 48,624,000,000 | 2 | $ 110,000 |
| Bank of the West 1977 SATURN STREET MS SC-MPK-03-N MONTEREY PARK, CA 91755 |
* | $ 61,829,845,000 | 2 | $ 130,000 |
| Ideal Mortgage Bankers, Ltd 520 BROADHOLLOW ROAD MELVILLE, NY 11747 |
* | $ 10,000,000 | 2 | $ 186,000 |
| USAA Federal Savings Bank 10750 MCDERMOTT FREEWAY SAN ANTONIO, TX 78288 |
* | $ 30,219,506,000 | 1 | $ 78,000 |
| CU Factory Built Lending, LP 6061 IH-10 WEST SAN ANTONIO, TX 78201 |
* | $ 1,761,607,000 | 1 | $ 32,000 |
| Origen Financial Services LLC 27777 FRANKLIN ROAD SUITE 1710 SOUTHFIELD, MI 48034 |
* | $ 10,000,000 | 1 | $ 42,000 |
The tables below break down 2008 mortgage applications in Shannon County, SD by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Shannon County, SD in 2008
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 | 16 | $653,000 | $40,000 | $81,000 | $54,000 | $104,000 |
| Refinancing | 16 | $1,025,000 | $64,000 | $540,000 | $60,000 | $163,000 |
| Home Improvement | 13 | $108,000 | $8,000 | $48,000 | $39,000 | $87,000 |
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 |
|---|---|---|---|---|---|---|
| American Indian or Alaskan Native | 33 | $803,000 | $24,000 | $81,000 | $51,000 | $163,000 |
| Not Provided | 5 | $147,000 | $29,000 | $60,000 | $38,000 | $58,000 |
| White | 4 | $110,000 | $27,000 | $36,000 | $46,000 | $85,000 |
| Hispanic | 2 | $186,000 | $93,000 | $93,000 | $138,000 | $138,000 |
| Not applicable | 1 | $540,000 | $540,000 | $540,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 41 | $1,473,000 | $35,000 | $540,000 | $48,000 | $163,000 |
| FHA-insured (Federal Housing Administration) | 4 | $313,000 | $78,000 | $93,000 | $93,000 | $138,000 |
| 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 | 22 | $1,018,000 | $46,000 | $540,000 | $37,000 | $104,000 |
| Application Denied By Financial Institution | 16 | $450,000 | $28,000 | $78,000 | $60,000 | $163,000 |
| Application Approved But Not Accepted | 4 | $120,000 | $30,000 | $49,000 | $61,000 | $85,000 |
| Application Withdrawn By Applicant | 2 | $186,000 | $93,000 | $93,000 | $138,000 | $138,000 |
| File Closed For Incompleteness | 1 | $12,000 | $12,000 | $12,000 | $42,000 | $42,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 9 | $242,000 | $26,000 | $78,000 | $65,000 | $163,000 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| 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 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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