Shannon County, SD Mortgage Lenders & HMDA Data, 2006
In 2006, lenders reported 46 mortgage applications in Shannon County, SD totaling $1.6 million, down 46% from 2005. The average application was for $35,000, and applicants reported an average income of $48,000. 30% of applications resulted in an originated loan and 59% were denied. The most active lender was Security First Bank, with 17 applications, followed by Beneficial Company LLC and Wells Fargo Bank, NA.
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| Years | 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 46 |
| Total Mortgage Loan Application Amount | $1,649,000 |
| Average Mortgage Loan Application Amount | $35,000 |
| Highest Mortgage Loan Application Amount | $128,000 |
| Average Applicant Income | $48,000 |
| Highest Applicant Income | $119,000 |
Top Mortgage Lenders in Shannon County, SD (2006)
Ranked by the number of mortgage applications each lender reported in Shannon County, SD in 2006.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Security First Bank Lincoln, NE |
17 | $173,000 | $10,000 | $41,000 |
| 2 | Beneficial Company LLC Mettawa, IL |
7 | $46,000 | $6,000 | $38,000 |
| 3 | Wells Fargo Bank, NA Des Moines, IA |
4 | $104,000 | $26,000 | $38,000 |
| 4 | Green Tree Servicing LLC St. Paul, MN |
3 | $244,000 | $81,000 | $68,000 |
| 5 | Bankwest, Inc. Pierre, SD |
3 | $209,000 | $69,000 | $48,000 |
| 6 | Origen Financial Services LLC Southfield, MI |
2 | $132,000 | $66,000 | $49,000 |
| 7 | Wells Fargo Fin'l South Dakota Des Moines, IA |
2 | $145,000 | $72,000 | $74,000 |
| 8 | Pioneer Bank & Trust Spearfish, SD |
1 | $25,000 | $25,000 | $91,000 |
| 9 | Wachovia Mortgage Corp Charlotte, NC |
1 | $85,000 | $85,000 | $31,000 |
| 10 | First Western Bank Wall, SD |
1 | $97,000 | $97,000 | $49,000 |
The tables below break down 2006 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 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 Improvement | 18 | $248,000 | $13,000 | $105,000 | $48,000 | $105,000 |
| Home Purchase | 16 | $820,000 | $51,000 | $128,000 | $46,000 | $79,000 |
| Refinancing | 12 | $581,000 | $48,000 | $107,000 | $49,000 | $119,000 |
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 | 35 | $874,000 | $24,000 | $105,000 | $44,000 | $105,000 |
| Not Provided | 4 | $335,000 | $83,000 | $107,000 | $59,000 | $79,000 |
| White | 4 | $312,000 | $78,000 | $128,000 | $79,000 | $119,000 |
| Hispanic | 3 | $128,000 | $42,000 | $101,000 | $35,000 | $68,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 43 | $1,451,000 | $33,000 | $128,000 | $49,000 | $119,000 |
| FHA-insured (Federal Housing Administration) | 3 | $198,000 | $66,000 | $101,000 | $33,000 | $44,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 27 | $811,000 | $30,000 | $128,000 | $43,000 | $91,000 |
| Loan Originated | 14 | $393,000 | $28,000 | $97,000 | $48,000 | $105,000 |
| Application Withdrawn By Applicant | 3 | $313,000 | $104,000 | $107,000 | $51,000 | $63,000 |
| File Closed For Incompleteness | 1 | $62,000 | $62,000 | $62,000 | $119,000 | $119,000 |
| Application Approved But Not Accepted | 1 | $70,000 | $70,000 | $70,000 | $79,000 | $79,000 |
| 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 | 4 | $167,000 | $41,000 | $85,000 | $40,000 | $75,000 |
| Collateral | 1 | $25,000 | $25,000 | $25,000 | $91,000 | $91,000 |
| Credit Application Incomplete | 1 | $50,000 | $50,000 | $50,000 | $31,000 | $31,000 |
| 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 |
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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