People are actually buying and selling homes!
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- Stanley Mason
- 5 years ago
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1 July 27, 215 We interrupt our regularly scheduled programing of compliance induced folderol for this important message: People are actually buying and selling homes! In fact, they are buying and selling homes in Monroe County at the fastest rate in seven years; a rate that is almost twenty percent better than the second quarter of last year. The chart on page 13 shows Monroe County sale transactions by quarter for the last eleven years. This past quarter is the highest quarter since the third quarter of 27. That s thirty one quarters! What was going on in 27? Well, the first iphone was released; Bob Barker still hosted The Price Is Right ; Miley Cyrus was better known as Hanna Montana; and we were debating the long term merits of HD DVDs or Blu Rays! We were also still underwriting mortgages using a mirror and the fog test; and verifying incomes with dream sequences. Also interesting to me are the charts on pages 14 and 15. Second quarter sales of properties not intended to be the buyer s primary residence (i.e. investment, commercial, vacant) peaked two years ago in 213. However they are still up almost 24% from quarter two of last year. Almost all of the increase seems to be in the $2, and up range. Sales of properties intended to be the buyer s primary residence are up 17% from the same quarter last year. These sales are at the highest level since the sales disclosure data became publicly available. The increase is over a broader section of the pricing market than non primary sales. Total mortgage lending (chart page 7) while not near the refinancing induced peaks of 29, 212 and 213, is still quite strong. And it s up about 33% from quarter two of last year. Finally, it looks like the level of foreclosures is stable. See the trend line on page 16. This is the lowest level of new foreclosures since I began tracking them ten years ago. We now return to our regularly scheduled program: TRID Compliance Truth or Consequences. Watch for the October 3 rd inaugural season premier! ~John Bethell 215
2 1 $14,, Dollars - June 215 Residential and commercial property mortgages filed in Monroe County during June 215. $12,, $,, $8,, $6,, $4,, $2,, $ IUCU First Financial Ruoff Ger Amer Peoples SB ONB MainSource Bk Hallmark Bloomfield SB JPMorgan 1st Repub Mtg Fifth Third Regions IUCU 11,934,46 First Financial 11,469,348 Ruoff 6,933,827 Ger Amer 5,831,177 Peoples SB 5,711,555 ONB 3,794,868 MainSource Bk 3,3,2 Hallmark 2,93,942 Bloomfield SB 2,84,375 JPMorgan 2,756,154 1st Repub Mtg 2,26,545 Fifth Third 1,766,22 Regions 52,92 Note- Charts & report do not include re-recordings, modifications, or those recorded without a property description. Fifth Third includes Fifth Third Bank & Fifth Third Mtg, Regions includes Regions Bank & Regions Mtg. Transactions - June 215 IUCU 9 Peoples SB 35 Ruoff 33 ONB 3 Ger Amer 24 Bloomfield SB 19 Hallmark 17 MainSource Bk 17 JPMorgan 17 Fifth Third 1st Repub Mtg First Financial 7 Regions IUCU Peoples SB Ruoff ONB Ger Amer Bloomfield SB Hallmark MainSource Bk JPMorgan Fifth Third 1st Repub Mtg First Financial Regions Copyright 214
3 2 Mortgage Report covering all mortgages on Monre County property, both residential and commercial, filed with the Monroe County Recorder during the month of June 215. to $49,999 $5, to $199,999 $2,-$499,999 $5, & up Total Total Lender Docs Amount Docs Amount Docs Amount Docs Amount Docs % Amount % BAXTER CREDIT UNION 1 123,3 1 27, ,3.3 BANK OF AMERICA 2 161, 5 1,477, ,638, 1.7 BLOOMFIELD STATE BANK 2 54, 12 1,224, ,561, ,84, CRANE FEDERAL CU 1 4, 3 422, 2 456, ,.9 FARM CREDIT MID AMERICA 1 148, ,665.2 FIRST FINANCIAL BANK 2 5, , ,8 1,8, ,469, FREEDOM HOME MORTGAGE 4 437, , ,9.7 FARMERS AND MECHANICS 1 198, ,45.2 FIRST REPUBLIC MORTGAGE 5 664, ,362, ,26, FIFTH THIRD BANK 1 25, , FIFTH THIRD MORTGAGE 6 556, , , ,741, GERMAN AMERICAN BANCORP 2 63, 1,131, ,777, , ,831,177 6 HOOSIER HILLS CU 1, 1 75, ,6.1 HALLMARK HOME MTG 12 1,585, ,345, ,93,942 3 INDIANA UNIVERSITY CU , ,59, ,775, ,385, ,934, JPMORGAN CHASE BANK 1 24,5 11 1,16, , , ,756, MAINSOURCE BANK 1 25, 12 1,388, , 1 925, ,3,2 3.2 MORTGAGE MASTERS 7 81, ,55 2 1,499, OWEN COUNTY STATE BANK 2 38, , ,5 1 2,, ,517, 3.6 OLD NATIONAL BANK 6 18, ,533, ,81, ,794, PEOPLES STATE BANK 2 59, 24 2,783, ,69, , ,711, REGIONS BANK 2 52, ,92.1 REGIONS MORTGAGE RUOFF MORTGAGE 21 2,961, ,338, , ,933, SAGAMORE HOME MORTGAGE 5 59, ,258, ,849, UNITED STATES OF AMERICA UNION SAVINGS BANK 1 27, , , ,97, WATERSTONE MORTGAGE WELLS FARGO BANK 2 6, 3 45, ,957.5 All Others 17 35, ,69,35 3 9,53, ,675, ,3, ====================== =============== ================= ================= ===== =========== ===== ================== ====== TOTALS 7 1,73, ,255, ,255, ,47, ,648,258 Copyright 214
4 3 $6,, Dollars - Year-to-Date through June 215 Residential and commercial property mortgages filed in Monroe County during 215. $5,, $4,, $3,, $2,, $,, $ IUCU Ger Amer Peoples SB Ruoff ONB Hallmark JPMorgan First Financial MainSource Bk 1st Repub Mtg Bloomfield SB Fifth Third Regions IUCU 53,513,483 Ger Amer 31,494,924 Peoples SB 26,429,595 Ruoff 19,351,83 ONB 17,623,25 Hallmark 16,978,21 JPMorgan 13,893,271 First Financial 13,3,322 MainSource Bk 11,675,386 1st Repub Mtg 8,978,177 Bloomfield SB 8,161,781 Fifth Third 5,969,94 Regions 3,639,626 Note- Charts & report do not include re-recordings, modifications, or those recorded without a property description. Fifth Third includes Fifth Third Bank & Fifth Third Mtg, Regions includes Regions Bank & Regions Mtg. 45 Transactions - Year-to-Date through June IUCU 398 Peoples SB 145 ONB 125 Ger Amer 114 Ruoff 95 MainSource Bk 78 Hallmark 74 JPMorgan 73 Bloomfield SB 54 1st Repub Mtg 47 Fifth Third 45 Regions 33 First Financial IUCU Peoples SB ONB Ger Amer Ruoff MainSource Bk Hallmark JPMorgan Bloomfield SB 1st Repub Mtg Fifth Third Regions First Financial Copyright 214
5 4 Mortgage Report covering all mortgages on Monre County property, both residential and commercial, filed with the Monroe County Recorder during 215. to $49,999 $5, to $199,999 $2,-$499,999 $5, & up Total Total Lender Docs Amount Docs Amount Docs Amount Docs Amount Docs % Amount % BAXTER CREDIT UNION 1 25, 3 49,3 4 1,95, ,529,85.3 BANK OF AMERICA 19 2,116, ,557, ,673,596 1 BLOOMFIELD STATE BANK 7 192, ,258, ,7, ,161, CRANE FEDERAL CREDIT U 5 13, 11 1,313, 3 683, ,126,.4 FARM CREDIT MID AMERIC 4 161, , , ,615.2 FIRST FINANCIAL BANK 9 229,8 98, ,371,65 1,8, ,3, FREEDOM HOME MORTGAGE 25 3,76, , ,985,374.8 FARMERS AND MECHANICS 1 28, , , ,414.1 FIRST REPUBLIC MORTGAG 27 3,468, ,994, , ,978, FIFTH THIRD BANK 8 214, , 1 2, ,349.2 FIFTH THIRD MORTGAGE 22 2,562, ,796, , ,7,555 1 GERMAN AMERICAN BANCOR , ,24, ,655, ,261, ,494, HOOSIER HILLS CREDIT U 3 77, 3 269, ,4.1 HALLMARK HOME MTG 37 4,743,182 35,252, ,982, ,978, INDIANA UNIVERSITY CRE 3 2,776, ,341, ,366,35 8,29, ,513,483.9 JPMORGAN CHASE BANK 56,5 45 4,97, ,868, ,998, ,893, MAINSOURCE BANK , ,5,2 2 5,25, , ,675, MORTGAGE MASTERS 31 3,942, ,28, , ,637, OWEN COUNTY STATE BANK 6 99,6 15 1,655,27 2,952,11 5 4,335, ,41, OLD NATIONAL BANK , ,422, ,935,55 4 3,337, ,623, PEOPLES STATE BANK , ,843, ,193, ,848, ,429, REGIONS BANK , , , ,515.2 REGIONS MORTGAGE 1 38, 8 1,256,48 4 1,44, ,699,111.6 RUOFF MORTGAGE 6 7,974,3 33 9,788,3 2 1,589, ,351,83 4 SAGAMORE HOME MORTGAGE 26 3,348, ,939, ,287, UNITED STATES OF AMERI 1 132, 1 132, UNION SAVINGS BANK 1 27,4 28 3,473,521 2,615, ,116, WATERSTONE MORTGAGE 13 1,947,54 2,573, ,243, ,764, WELLS FARGO BANK 3 6, 2 2,166, ,226,323.5 All Others 56 1,133, ,937, ,213, ,62, ,347, ====================== ===== ================ ================= ================ ================ ====== ============ ====== TOTALS 3 7,842, ,463, ,137, ,35, ,749,398 Copyright 214
6 5 Mortgage Report covering all mortgages on Monre County property, both residential and commercial, filed with the Monroe County Recorder during the month of May 215. to $75, $75,1 to $199,999 $2,-$417, $417,1 & up Total Total Lender Docs Amount Docs Amount Docs Amount Docs Amount Docs % Amount % BAXTER CREDIT UNION 1 123,3 1 27, ,3.3 BANK OF AMERICA 1 5, 1 111, 5 1,477, ,638, 1.7 BLOOMFIELD STATE BANK 5 244, 9 1,34, ,561, ,84, CRANE FEDERAL CREDIT U 1 4, 3 422, 2 456, ,.9 FARM CREDIT MID AMERIC 1 148, ,665.2 FIRST FINANCIAL BANK 3 115, , 2 454,8 1,8, ,469, FREEDOM HOME MORTGAGE 4 437, , ,9.7 FARMERS AND MECHANICS 1 198, ,45.2 FIRST REPUBLIC MORTGAG 5 664, ,362, ,26, FIFTH THIRD BANK 1 25, , FIFTH THIRD MORTGAGE 2 13, , , , ,741, GERMAN AMERICAN BANCOR 2 63, 1,131, ,827, ,89, ,831,177 6 HOOSIER HILLS CREDIT U 1, 1 75, ,6.1 HALLMARK HOME MTG 1 59,2 11 1,526, ,345, ,93,942 3 INDIANA UNIVERSITY CRE 42 1,699, ,74, ,775, ,385, ,934, JPMORGAN CHASE BANK 4 22, 8 965, 4 952, , ,756, MAINSOURCE BANK 3 147,15 1,266, , 1 925, ,3,2 3.2 MORTGAGE MASTERS 7 81, ,55 2 1,499, OWEN COUNTY STATE BANK 4 164, , ,5 1 2,, ,517, 3.6 OLD NATIONAL BANK , ,275, ,81, ,794, PEOPLES STATE BANK 4 181,5 22 2,66, ,69, , ,711, REGIONS BANK 2 52, ,92.1 REGIONS MORTGAGE RUOFF MORTGAGE 21 2,961, ,338, , ,933, SAGAMORE HOME MORTGAGE 1 61, , , , ,849, UNITED STATES OF AMERI UNION SAVINGS BANK 2 77, , , ,97, WATERSTONE MORTGAGE WELLS FARGO BANK 2 6, 3 45, ,957.5 All Others 32 1,199, ,175, ,674,61 6 7,53, ,3, ====================== ===== ========== ===== =================== ============= ===== =========== ===== ====== ============== ====== TOTALS 124 5,37, ,947, ,444, ,219, ,648,258 Copyright 214
7 6 Mortgage Report covering all mortgages on Monre County property, both residential and commercial, filed with the Monroe County Recorder during 215. to $75, $75,1 to $199,999 $2,-$417, $417,1 & up Total Total Lender Docs Amount Docs Amount Docs Amount Docs Amount Docs % Amount % BAXTER CREDIT UNION 1 25, 3 49,3 4 1,95, ,529,85.3 BANK OF AMERICA 5 37, ,88, ,557, ,673,596 1 BLOOMFIELD STATE BANK 15 7, ,75,6 15 4,291, , ,161, CRANE FEDERAL CREDIT U 6 25, 1,238, 3 683, ,126,.4 FARM CREDIT MID AMERIC 5 235, , , ,615.2 FIRST FINANCIAL BANK , , ,8 2 11,26, ,3, FREEDOM HOME MORTGAGE 25 3,76, , ,985,374.8 FARMERS AND MECHANICS 1 28, , , ,414.1 FIRST REPUBLIC MORTGAG 1 7, 26 3,398, ,994, , ,978, FIFTH THIRD BANK , , 1 2, ,349.2 FIFTH THIRD MORTGAGE 3 183,2 19 2,379, ,796, , ,7,555 1 GERMAN AMERICAN BANCOR , ,69, ,517, ,399, ,494, HOOSIER HILLS CREDIT U 3 77, 3 269, ,4.1 HALLMARK HOME MTG 5 318, ,424, ,77, ,463, ,978, INDIANA UNIVERSITY CRE 16 6,252, ,865, ,366,35 8,29, ,513,483.9 JPMORGAN CHASE BANK 2 668, ,358,3 13 3,371, ,495, ,893, MAINSOURCE BANK , ,64,63 2 5,25, , ,675, MORTGAGE MASTERS 31 3,942, ,28, , ,637, OWEN COUNTY STATE BANK ,57 1,325,3 8 2,111,46 7 5,175, ,41, OLD NATIONAL BANK 47 1,786, ,563,66 2 5,439,55 5 3,833, ,623, PEOPLES STATE BANK 39 1,628, ,759, ,193, ,848, ,429, REGIONS BANK , , 1 212, ,515.2 REGIONS MORTGAGE 1 38, 8 1,256, , , ,699,111.6 RUOFF MORTGAGE 3 214, ,76, ,788,3 2 1,589, ,351,83 4 SAGAMORE HOME MORTGAGE 2 129, ,218, ,456, , ,287, UNITED STATES OF AMERI 1 132, 1 132, UNION SAVINGS BANK 5 246,6 24 3,254,321 2,615, ,116, WATERSTONE MORTGAGE 13 1,947,54 2,573, ,243, ,764, WELLS FARGO BANK 9 447, ,778, ,226,323.5 All Others 99 3,828, ,242, ,993, ,282, ,347, ====================== ===== ================= ================= ================= ================== ====== ============== ====== TOTALS ,95, ,211, ,675, ,767, ,749,398 Copyright 214
8 7 Recorded Mortgages by Quarter Between $5K and $5K Recorded Mortgages First Second Third Fourth Quarter Copyright South Walnut St
9 8 Mortgage Loan Dollar Volume by Quarter $5K to $5K $3,, $25,, Stated Original Loan Amount $2,, $15,, $,, $5,, First Second Third Fourth Quarter Copyright South Walnut St
10 9 Mortgages $75K $2K Monroe County by Quarter 28 to Number of Recorded Mortgages First Second Third Fourth Quarter Copyright South Walnut Street
11 Mortgages $2K to $417K by Quarter Recorded Mortgages First Second Third Fourth Quarter Copyright South Walnut Street
12 11 Recorded Mortgages by Quarter Under $5K Recorded Mortgages First Second Third Fourth Quarter Copyright South Walnut St
13 12 Mortgage Loan Dollar Volume by Quarter Under $5K $16,, $14,, $12,, Stated Original Loan Amount $,, $8,, $6,, $4,, $2,, $- First Second Third Fourth Quarter Copyright South Walnut St
14 13 Recorded Transactions Recorded Sale Transactions - Monroe County Since 25 2 First Second Third Fourth ** Does not include Quit-Claim Deeds, Sheriff's Deeds, or deeds judged not to represent a sale. Quarter Copyright South Walnut St
15 14 Monroe County Non Primary Residence Sales 211 Present T o t a l S a l e s Over $5K $2K $5K $125K $2K $5K $125K st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th Quarter Disclosures indicating property will not be buyer's primary residence. From sales disclosure data submitted to State of Indiana DLGF. Copyright 215
16 15 7 Monroe County Primary Residence Sales 211 to Present 6 2 T o t a l S a l e s st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th Quarter Over $5K $2K $5K $125K $2K $5K $125K Disclosures indicating property to be buyer's primary residence. From sales disclosure data submitted to State of Indiana DLGF. Copyright 215
17 Trends: New Foreclosures & Sheriff's Deeds By Month New Foreclosures Deeds Trend Line: New Trend Line: Deeds Month Beginning January 2 Copyright 215
18 17 Foreclosure Started and Finished 2 to Present Recorded Sheriff's Deeds New Foreclosures New Foreclosures Recorded Sheriff's Deeds Copyright 215
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