The future ain t what it used to be ~ Yogi Berra

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Clarence Little
6 years ago
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1 The future ain t what it used to be ~ Yogi Berra Fueled by record low interest rates (how many times has that been said in the last four years?) the Monroe County mortgage market made its fifth strongest quarterly showing ever. (charts pages 8 & 9) Judging by our own mix of business, refinancing probably comprised more than half of that volume. Sale transactions (see chart page 14) while stronger than 212, are still below the levels seen prior to the late 28 market collapse. I m certain that we won t see numbers like those from again, but I do believe that the local market still has another fifteen to twenty percent growth left in it. So maybe, we re not yet back to normal. How long it will take to get there is anybody s guess. New foreclosures started in the second quarter dropped significantly. Hopefully that trend will continue. There were no sheriff s deeds recorded in April very unusual. I m not aware of any procedural or regulatory change that would account for that. Maybe Mr. Kennedy was on vacation? On July 1 st Closing Protection Letters for buyers, borrowers, lenders and sellers became mandatory in Indiana. This new law ensures that everyone s funds entrusted to a closing agent are protected from misappropriation a good thing. Whether the additional $5 to $75 per transaction being paid to title underwriters is warranted by the additional risk is debatable. The underwriters will need to justify those charges next year when the Indiana Department of Insurance is required to approve their premium rates prior to their use. If you have any questions about the new law and how the fees are being handled, please let us know. We appreciate the patience of our valued clients as we all deal with the regulatory forces that affect our business. John Bethell July 17,

2 $14,, Dollars - June 213 Residential and commercial property mortgages filed in Monroe County during June 213. $12,, $1,, $8,, $6,, $4,, $2,, $ IUCU I People es SB ONB Ger Amer Third Fifth 1st Repub Mtg UCB Reg gions JPMo organ Union Sa av Bk ld SB Bloomfiel First Fina ancial IUCU 13,39,938 Peoples SB 9,888,195 ONB 9,228,33 Ger Amer 7,69,784 Fifth Third 5,372,766 1st Repub Mtg 4,337,49 UCB 3,872,452 Regions 3,861,93 JPMorgan 3,193,835 Union Sav Bk 1,887,424 Bloomfield SB 1,756,916 First Financial 1,314,272 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 213 IUCU 11 ONB 79 Peoples SB 42 Fifth Third 37 JPMorgan 25 1st Repub Mtg 25 Ger Amer 24 UCB 22 Union Sav Bk 19 Bloomfield SB 18 Regions 11 First Financial IUCU ONB Peoples SB Fifth Third JPMorgan 1st Repub Mtg Ger Amer UCB Union Sav Bk Bloomfield SB Regions First Financial 1

3 Mortgage Report covering all mortgages on Monre County property, both residential and commercial, filed with the Monroe County Recorder during the month of June 213. 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 % ALLY BANK ALLIED HOME MORTGAGE BAXTER CREDIT UNION 2 276, , ,775.8 BANK OF AMERICA 3 28, ,88.3 BLOOMFIELD STATE BANK 6 189, ,136, , ,756, CRANE FEDERAL CREDIT U 3 74, 2 25, ,2.3 CITIMORTGAGE EVERBANK FARM CREDIT MID AMERIC 1 2, 1.2 2, FIRST FINANCIAL BANK 1 1, 5 396, , ,314, FARMERS AND MECHANICS 2 12, 1 15, ,.2 FIRST REPUBLIC MORTGAG 17 2,16,62 8 2,23, ,337, FIFTH THIRD BANK 1 49, , ,8.5 FIFTH THIRD MORTGAGE 1 49,6 2 2,391, ,37, ,81, GERMAN AMERICAN BANCOR 1 23, , ,59, ,69, GATEWAY MORTGAGE GROUP 1 48,5 9 1,4, , ,85,973 2 HOOSIER HILLS CREDIT U HALLMARK HOME MTG 7 759,69 4 1,147, ,97, INDIANA UNIVERSITY CRE 2 535, ,466, ,732, ,576, ,39, JPMORGAN CHASE BANK 1 38, ,371, , ,193, METLIFE HOME LOANS MORTGAGE MASTERS 1 15, , ,17.3 OWEN COUNTY STATE BANK 1 153, , ,576.4 OLD NATIONAL BANK 1 28, ,456,34 1 2,491, ,228,33 9 PROVIDENT FUNDING ASSO PEOPLES STATE BANK 4 91,25 2 2,211, ,585,35 1 3,, ,888, REGIONS BANK 1 1, 1 131,46 3 2,7, 5.9 2,841, REGIONS MORTGAGE 5 81, , 6 1 1,2,884 1 UNITED COMMERCE BANK 1 32, 12 1,669, ,171, ,872, UNITED STATES OF AMERI UNION SAVINGS BANK 4 146,3 14 1,52, , ,887, WELLS FARGO BANK 7 72, , ,249, All Others , ,967, ,614, ,967, ,77, ====================== ===== =============== ================= ================= =========== ===== ====== ================== TOTALS 7 1,831, ,359, ,412, ,832, ,435,

4 $7,, Dollars - Year-to-Date through June 213 Residential and commercial property mortgages filed in Monroe County during 213. $6,, $5,, $4,, $3,, $2,, $1,, $ IU UCU Ger Amer Peoples SB ONB Fifth Third rgan JPMo Reg gions Mtg 1st Repub UCB v Bk Union Sa First Finan ncial Bloomfield SB IUCU 64,229,437 Ger Amer 49,593,669 Peoples SB 43,666,119 ONB 43,493,64 Fifth Third 28,326,295 JPMorgan 24,96,347 Regions 2,77,399 1st Repub Mtg 17,917,1 UCB 16,535,628 Union Sav Bk 15,52,421 First Financial 13,53,459 Bloomfield SB 9,764,778 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 - Year-to-Date through June IUCU 48 ONB 289 Fifth Third 23 Peoples SB 229 JPMorgan 191 Ger Amer 163 Union Sav Bk 112 1st Repub Mtg 14 UCB 96 Bloomfield SB 79 Regions 73 First Financial IUCU ONB Fifth Third Peoples SB JPMorgan Ger Amer Union Sav Bk 1st Repub Mtg UCB Bloomfield SB Regions First Financial 3

5 Mortgage Report covering all mortgages on Monre County property, both residential and commercial, filed with the Monroe County Recorder during 213. 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 % ALLY BANK 7 545, , ,691.1 ALLIED HOME MORTGAGE BAXTER CREDIT UNION 1 4, 13 1,862,23 7 1,967, , ,458,56.8 BANK OF AMERICA 1 39, ,24,36 8 2,448, ,512,669.8 BLOOMFIELD STATE BANK , ,868, ,768,8 1 7, ,764, CRANE FEDERAL CREDIT U 1 284,5 21 2,26, , ,315, ,456,437.8 CITIMORTGAGE EVERBANK 5 448, ,9.1 FARM CREDIT MID AMERIC 1 2, 8 1,178, , , ,655,812.5 FIRST FINANCIAL BANK 4 89, ,282,97 5 1,17,5 6 9,573, ,53, FARMERS AND MECHANICS 2 12, 7 82, 3 697, ,529,1.3 FIRST REPUBLIC MORTGAG 1 47,5 72 9,19, ,31, , ,917,1 3.1 FIFTH THIRD BANK , ,581, ,39,47.5 FIFTH THIRD MORTGAGE 2 95, ,65, ,586, ,286, GERMAN AMERICAN BANCOR , ,898, ,6, ,714, ,593, GATEWAY MORTGAGE GROUP 1 48,5 29 3,592, ,949, ,59, HOOSIER HILLS CREDIT U 3 82, , , ,644,75,.3 HALLMARK HOME MTG 37 4,76, ,437, ,144, INDIANA UNIVERSITY CRE 74 2,98, ,756, ,536, ,838, ,229, JPMORGAN CHASE BANK 5 215, ,45, ,739,93 1 6, ,96, METLIFE HOME LOANS MORTGAGE MASTERS 13 1,615, , ,39,929.4 OWEN COUNTY STATE BANK 5 113,7 11 1,172,44 4 1,173,5 2 1,734, ,193,64.7 OLD NATIONAL BANK 36 1,57, ,46, ,233, ,156, ,493, PROVIDENT FUNDING ASSO PEOPLES STATE BANK , ,4, ,765, ,246, ,666, REGIONS BANK , , ,22, 7 1,381, ,478, REGIONS MORTGAGE 26 3,349, ,879, ,228, UNITED COMMERCE BANK 5 153,6 63 7,688, ,164, ,528, ,535, UNITED STATES OF AMERI 2 19, , UNION SAVINGS BANK 6 23, ,187, ,596, , ,52, WELLS FARGO BANK 8 4,7 37 4,16, ,73, ,, ,76, All Others 61 92, ,83, ,959, ,932, ,644, ====================== ===== ================ ================= ================ =========== ===== ====== ============ ====== TOTALS 311 7,785, ,22, ,189, ,25, ,23,

6 Mortgage Report covering all mortgages on Monre County property, both residential and commercial, filed with the Monroe County Recorder during the month of June 213. 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 % ALLY BANK ALLIED HOME MORTGAGE BAXTER CREDIT UNION 2 276, , ,775.8 BANK OF AMERICA 2 122, , ,88.3 BLOOMFIELD STATE BANK 8 292, ,32, , ,756, CRANE FEDERAL CREDIT U 3 74, 2 25, ,2.3 CITIMORTGAGE EVERBANK FARM CREDIT MID AMERIC 1 2, 1.2 2, FIRST FINANCIAL BANK 3 11, 3 296, , ,314, FARMERS AND MECHANICS 2 12, 1 15, ,.2 FIRST REPUBLIC MORTGAG 2 131, ,974, ,23, ,337, FIFTH THIRD BANK 2 114, , ,8.5 FIFTH THIRD MORTGAGE 4 236,3 17 2,24, ,37, ,81, GERMAN AMERICAN BANCOR 1 23, , ,636, , ,69, GATEWAY MORTGAGE GROUP 3 17, , , ,85,973 2 HOOSIER HILLS CREDIT U HALLMARK HOME MTG 1 7, , ,147, ,97, INDIANA UNIVERSITY CRE 42 1,829,77 5 6,171, ,732, ,576, ,39, JPMORGAN CHASE BANK 6 329, ,8, , ,193, METLIFE HOME LOANS MORTGAGE MASTERS 1 15, , ,17.3 OWEN COUNTY STATE BANK 1 153, , ,576.4 OLD NATIONAL BANK 23 1,69, ,666, ,491, ,228,33 9 PROVIDENT FUNDING ASSO PEOPLES STATE BANK 9 385, ,916, ,585,35 1 3,, ,888, REGIONS BANK 1 1, 1 131,46 3 2,7, 5.9 2,841, REGIONS MORTGAGE 5 81, , 6 1 1,2,884 1 UNITED COMMERCE BANK 1 32, 12 1,669, ,171, ,872, UNITED STATES OF AMERI UNION SAVINGS BANK 7 319,6 11 1,347, , ,887, WELLS FARGO BANK 1 7, 6 632, , ,249, All Others , ,59, ,247, ,334, ,77, ====================== ===== =============== =================== ================== =========== ===== ====== ============== ====== TOTALS 14 6,22, ,167, ,172, ,72, ,435,

7 Mortgage Report covering all mortgages on Monre County property, both residential and commercial, filed with the Monroe County Recorder during 213. 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 % ALLY BANK 3 189, , , ,691.1 ALLIED HOME MORTGAGE BAXTER CREDIT UNION 1 4, 13 1,862,23 7 1,967, , ,458,56.8 BANK OF AMERICA 3 162, ,91, ,98, , ,512,669.8 BLOOMFIELD STATE BANK 26 1,112, ,183,63 1 2,768,8 1 7, ,764, CRANE FEDERAL CREDIT U ,5 16 1,729, , ,315, ,456,437.8 CITIMORTGAGE EVERBANK 2 136, 3 312, ,9.1 FARM CREDIT MID AMERIC 1 2, 8 1,178, ,5 2 1,119, ,655,812.5 FIRST FINANCIAL BANK , ,824, ,17,5 6 9,573, ,53, FARMERS AND MECHANICS 3 82, 6 75, 3 697, ,529,1.3 FIRST REPUBLIC MORTGAG 6 372, ,695,29 3 8,31, , ,917,1 3.1 FIFTH THIRD BANK 3 1,213, ,826, ,39,47.5 FIFTH THIRD MORTGAGE 25 1,515, ,185, ,586, ,286, GERMAN AMERICAN BANCOR 27 1,12, ,176, ,727, ,587, ,593, GATEWAY MORTGAGE GROUP 6 364, ,276, ,949, ,59, HOOSIER HILLS CREDIT U 6 271, , , ,644,75.3 HALLMARK HOME MTG 1 7, ,636, ,437, ,144, INDIANA UNIVERSITY CRE 134 5,757, ,97, ,536, ,838, ,229, JPMORGAN CHASE BANK 38 2,291, ,329, ,739,93 1 6, ,96, METLIFE HOME LOANS MORTGAGE MASTERS 2 146,9 11 1,468, , ,39,929.4 OWEN COUNTY STATE BANK 7 228,2 9 1,57, ,5 3 2,166, ,193,64.7 OLD NATIONAL BANK 79 3,725, ,377, ,233, ,156, ,493, PROVIDENT FUNDING ASSO PEOPLES STATE BANK 51 2,228, ,425, ,341, ,671, ,666, REGIONS BANK , , , 8 1,841, ,478, REGIONS MORTGAGE 1 74, 25 3,275, ,38, , ,228, UNITED COMMERCE BANK , ,91, ,282, ,41, ,535, UNITED STATES OF AMERI 2 19, , UNION SAVINGS BANK 2 1,154, ,263, ,596, , ,52, WELLS FARGO BANK , ,73, ,73, ,, ,76, All Others 97 3,219, ,532, ,692, ,199, ,644, ====================== ===== ================= ================= ================= ================== ====== ============== ====== TOTALS ,359, ,628, ,423, ,791, ,23,

8 Recorded Mortgages by Quarter Between $5K and $5K Recorded Mortgages First Second Third Fourth 7 Quarter 329 South Walnut St

9 Mortgage Loan Dollar Volume by Quarter $5K to $5K $3,, $25,, ount Stated Original Loan Am $2,, $15,, $1,, $5,, First Second Third Fourth 8 Quarter 329 South Walnut St

10 Mortgage Loan Dollar Volume by Quarter Under $5K $18,, $16,, $14,, Stated Original Loan Amount $12,, $1,, $8,, $6,, $4,, $2,, $- First Second Third Fourth Quarter South Walnut St

11 7 Recorded Mortgages by Quarter Under $5K Recorded d Mortgages First Second Third Fourth Quarter South Walnut St

12 Mortgages $75K $2K Monroe County by Quarter 28 to Numb ber of Recorded Mortgages First Second Third Fourth Quarter South Walnut Street Bloomington IN

13 45 Mortgages $2K to $417K by Quarter rded Mortgages Recor First Second Third Fourth Quarter 12

14 Recorded Sale Transactions - Monroe County Since Recorded Transactio ons First Second Third Fourth ** Does not include Quit-Claim Deeds, Sheriff's Deeds, or deeds judged not to represent a sale. 13 Quarter 329 South Walnut St

15 Monroe County Primary Residence Sales 29 to Present 6 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 Over $5K $2K $5K $125K $2K $5K $125K Quarter 14 Sales marked Buyer's Principle Residence from Indiana DLGF sales disclosure data. Bloomington IN

16 2 Monroe County Non Primary Residence Sales 29 Present T o t a l S a l e s Over $5K $2K $5K $125K $2K $5K $125K 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd Quarter Disclosures indicating property to be buyer's primary residence. From sales disclosure 15 data submitted to State of Indiana DLGF.

17 Trends: New Foreclosures & Sheriff's Deeds By Month New Foreclosures Deeds Trend Line: New Trend Line: Deeds Month Beginning January 28 16

18 Foreclosure Started and Finished 26 to Present Recorded Sheriff's Deeds New Foreclosures New Foreclosures Recorded Sheriff's Deeds 17

2011 Year in Review. Hidden and not so hidden trends, conclusions and questions from the 2011 full year mortgage and deed recording data:

2011 Year in Review. Hidden and not so hidden trends, conclusions and questions from the 2011 full year mortgage and deed recording data: 211 Year in Review Hidden and not so hidden trends, conclusions and questions from the 211 full year mortgage and deed recording data: Lenders with a local presence and local employees continue to dominate