Shannon County, SD Mortgage Lenders & HMDA Data, 2005
In 2005, lenders reported 85 mortgage applications in Shannon County, SD totaling $3.1 million, down 16% from 2004. The average application was for $36,000, and applicants reported an average income of $42,000. 28% of applications resulted in an originated loan and 48% were denied. The most active lender was Security First Bank, with 28 applications, followed by Wells Fargo Bank, NA and Vanderbilt Mortgage.
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| Years | 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 85 |
| Total Mortgage Loan Application Amount | $3,077,000 |
| Average Mortgage Loan Application Amount | $36,000 |
| Highest Mortgage Loan Application Amount | $197,000 |
| Average Applicant Income | $42,000 |
| Highest Applicant Income | $131,000 |
Top Mortgage Lenders in Shannon County, SD (2005)
Ranked by the number of mortgage applications each lender reported in Shannon County, SD in 2005.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Security First Bank Lincoln, NE |
28 | $390,000 | $13,000 | $30,000 |
| 2 | Wells Fargo Bank, NA Des Moines, IA |
12 | $712,000 | $59,000 | $38,000 |
| 3 | Vanderbilt Mortgage Maryville, TN |
11 | $329,000 | $29,000 | $19,000 |
| 4 | Ameriquest Mortgage Company Orange, CA |
7 | $697,000 | $99,000 | $61,000 |
| 5 | Beneficial Company LLC Mettawa, IL |
7 | $56,000 | $8,000 | $54,000 |
| 6 | Origen Financial Services LLC Southfield, MI |
6 | $263,000 | $43,000 | $26,000 |
| 7 | Countrywide Home Loans Westlake Village, CA |
4 | $247,000 | $61,000 | $22,000 |
| 8 | Green Tree Servicing LLC St. Paul, MN |
3 | $109,000 | $36,000 | $95,000 |
| 9 | Bankwest, Inc. Pierre, SD |
3 | $126,000 | $42,000 | $28,000 |
| 10 | Black Hills Federal Credit Union Rapid City, SD |
1 | $14,000 | $14,000 | $23,000 |
The tables below break down 2005 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 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 40 | $1,800,000 | $45,000 | $135,000 | $42,000 | $131,000 |
| Refinancing | 33 | $1,201,000 | $36,000 | $197,000 | $45,000 | $94,000 |
| Home Improvement | 12 | $76,000 | $6,000 | $15,000 | $41,000 | $71,000 |
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 | 52 | $1,588,000 | $30,000 | $135,000 | $44,000 | $131,000 |
| Not applicable | 11 | $436,000 | $39,000 | $109,000 | $0 | $0 |
| White | 10 | $720,000 | $72,000 | $197,000 | $44,000 | $94,000 |
| Not Provided | 8 | $300,000 | $37,000 | $80,000 | $46,000 | $131,000 |
| Hispanic | 2 | $15,000 | $7,000 | $11,000 | $42,000 | $48,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $18,000 | $9,000 | $15,000 | $53,000 | $62,000 |
| 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) | 76 | $2,223,000 | $29,000 | $197,000 | $42,000 | $131,000 |
| FHA-insured (Federal Housing Administration) | 8 | $801,000 | $100,000 | $135,000 | $50,000 | $110,000 |
| VA-guaranteed (Veterans Administration) | 1 | $53,000 | $53,000 | $53,000 | $59,000 | $59,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 41 | $1,386,000 | $33,000 | $197,000 | $35,000 | $94,000 |
| Loan Originated | 24 | $800,000 | $33,000 | $135,000 | $57,000 | $131,000 |
| Loan Purchased By The Institution | 11 | $436,000 | $39,000 | $109,000 | $0 | $0 |
| Application Approved But Not Accepted | 4 | $103,000 | $25,000 | $52,000 | $71,000 | $131,000 |
| File Closed For Incompleteness | 3 | $289,000 | $96,000 | $132,000 | $73,000 | $102,000 |
| Application Withdrawn By Applicant | 2 | $63,000 | $31,000 | $53,000 | $41,000 | $59,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 7 | $549,000 | $78,000 | $197,000 | $47,000 | $81,000 |
| Credit History | 6 | $108,000 | $18,000 | $72,000 | $20,000 | $47,000 |
| Collateral | 3 | $98,000 | $32,000 | $52,000 | $37,000 | $60,000 |
| Credit Application Incomplete | 1 | $72,000 | $72,000 | $72,000 | $94,000 | $94,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
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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