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May 2011 Lender Analysis Report

June 9th, 2011
There were 1,408 loans filed in Shelby County for the month of May totalling $216.7 million.
The average residential loan amount on a new home purchase was $144,451. Of the 602 residential loans filed at time of sale, 28% were between $50,000-$99,999 and 23% were between $100,000-$149,000.
297 of the loans for new home purchases were conventional fixed rate loans, 209 were FHA fixed rate.
Community Mortgage Bank, Magna Bank and Regions Bank rounded out the Top Lenders list for residential mortgages at time of sale.
Regions Bank, Wells Fargo and Community Mortgage Bank made the top three for Top Lenders for all residential loans including loans at time of sale, refinances and second mortgages.
The largest residential loan was filed for a property on Massey Estates Cove for $1.5 million by Triumph Bank. The 7-year loan was filed on May 20 and matures on June 10, 2018.
The largest commercial loan was $6.1 million filed by Lancaster Pollard Mortgage Co. issued to Applingwood Long Term Care Facility located at 1535 Appling in Cordova.  
Click here to review our complimentary Residential Market Trend reports. 
Please contact wendy@chandlerreports.com if you would like to purchase our monthly, online Lender Analysis Reports, the cost is $25/month for existing online subscribers and $35/month for non-subscribers.
The reports include:  
  • Top 25 Residential Lenders-All Loans
  • Top 25 Commercial Lenders-New Purchases
  • Top 30 Residential Lenders-New Purchases
  • Residential Foreclosures By  Mortgage Type
  • Residential Loan to Value at Time of Sale by Zip
  • Residential Loans by Mortgage Type  

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