Lenders › Independent Bank › Michigan
Independent Bank in Michigan
HMDA record for properties in Michigan, calendar year 2024. National record · Michigan overview
HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Cells under 25 applications are withheld.
In Michigan, Independent Bank reported 3,376 applications and 2,270 originations for 2024, $612m in all.
Its denial rate in the state was 19.9%, below the Michigan rate of 23.9% across all lenders and compared with the lender's national rate of 19.6%.
The median rate spread on its Michigan originations was 0.3 percentage points (state median 0.5).
Applications in the state were about level with 2023.
Compared with the state and the lender's national record
| Measure | In Michigan | Michigan, all lenders | Independent Bank, all states | United States |
|---|---|---|---|---|
| Denial rate | 19.9% | 23.9% | 19.6% | 24.3% |
| Median rate spread, pp | 0.3 | 0.5 | 0.3 | 0.3 |
| Originations with spread of 1.5 pp or more | 3.3% | 18.4% | 3.3% | 15.6% |
| Average originated loan | $270k | $212k | $271k | $329k |
| Home purchase share | 59.9% | 51.2% | 60.4% | 57.0% |
| FHA-insured share | 3.4% | 10.0% | 3.3% | 13.4% |
| VA-guaranteed share | 0.8% | 4.5% | 0.8% | 7.9% |
Trend by year
ApplicationsOriginations
This lender in stateMichigan, all lenders
Loan purpose and loan type in Michigan
By purpose
Home purchase 60% (1,359)Home improvement 17% (387)Refinancing 8% (179)Cash-out refinancing 5% (103)Other purpose 11% (242)
By type
Conventional 96% (2,172)FHA 3% (77)VA 1% (18)USDA 0% (3)
Denial reasons as coded
Share of 567 denials in Michigan by first denial reason coded (outlined bar: all lenders in the state).
Counties in Michigan
| County | Applications | Originations | Amount | Denial rate |
|---|---|---|---|---|
| Kent County | 503 | 354 | $97m | 17.0% |
| Wayne County | 321 | 225 | $84m | 15.2% |
| Oakland County | 311 | 222 | $111m | 18.5% |
| Grand Traverse County | 131 | 103 | $35m | 12.7% |
| Ionia County | 155 | 97 | $14m | 23.0% |
| Ottawa County | 123 | 96 | $31m | 7.6% |
| Saginaw County | 138 | 79 | $13m | 24.8% |
| Newaygo County | 113 | 69 | $11m | 23.3% |
| Bay County | 120 | 68 | $10m | 26.1% |
| Macomb County | 98 | 62 | $16m | 28.7% |
| Montcalm County | 89 | 58 | $8.2m | 22.7% |
| Eaton County | 82 | 52 | $7.3m | 22.1% |
| Ingham County | 91 | 50 | $9.7m | 35.9% |
| Leelanau County | 74 | 48 | $17m | 20.0% |
| Livingston County | 71 | 47 | $12m | 19.0% |
| Washtenaw County | 66 | 45 | $12m | 15.1% |
| Muskegon County | 70 | 42 | $11m | 30.0% |
| Berrien County | 54 | 36 | $11m | 10.0% |
| Huron County | 52 | 33 | $3.7m | 29.8% |
| Genesee County | 51 | 31 | $5.4m | 20.0% |
| Mecosta County | 49 | 30 | $5.1m | 25.0% |
| Tuscola County | 43 | 30 | $3.2m | 20.5% |
| Kalamazoo County | 39 | 29 | $9.4m | 9.4% |
| Allegan County | 32 | 25 | $9.6m | 13.8% |
| Clinton County | 29 | 23 | $4.2m | 14.8% |
| Jackson County | 34 | 17 | $3.1m | 37.0% |
| Wexford County | 26 | 15 | $2.5m | — |
Counties with at least 25 applications, by originations.
Questions and answers
How many mortgages did Independent Bank originate in Michigan in 2024?
2,270 loans totalling $612m, from 3,376 applications reported for properties in Michigan.
What is Independent Bank's denial rate in Michigan?
19.9% of decided applications in Michigan were denied, against 23.9% for all lenders in the state and 19.6% for this lender nationally. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws.
Which Michigan counties does Independent Bank lend in most?
By originations: Kent County (354), Wayne County (225), Oakland County (222), Grand Traverse County (103), Ionia County (97).
Where does this data come from?
From the 2024 public HMDA loan/application register (FFIEC and CFPB), filtered to the lender's LEI and the property state. Cells under 25 applications are withheld.
Provenance
Source: HMDA public loan/application register 2022, 2023, 2024 (FFIEC and CFPB, public domain), records for this LEI with a property in Michigan. Built 30 Sep 2026; data through 1 Aug 2026. See methodology and corrections.