It s like Déjà Vu all over again! ~ Yogi Berra

Transcription

1 It s like Déjà Vu all over again! ~ Yogi Berra I certainly didn t see this coming. A couple of months ago I wrote here that I was optimistic that we d get a modest increase in refinances to help soften the effect of the expiration of the homebuyer tax credits. Well it turns out that new orders for refinances are at levels not seen since the glory days of refinancing in Not that I m complaining. For almost a year now, the mortgage market has been slogging along at ten year lows. Check out the charts for mortgage originations in We re probably headed towards those numbers in the next few months. And unlike prior periods of interest rates will never be this low again, our clients tell us that most refinances are being locked at application. Few are floating the rate hoping for that extra one eighth of a percent. The purchase market is a different story. The three quarter streak of positive comparisons year over year will in all likelihood come to an end. (sale transaction chart, page 14) I m fairly certain that the homebuyer tax credits for the most part only accelerated transactions into the second quarter (primary residence sales chart, page 15) and did little to bring new buyers into the market. The tsunami of refinancing is happening all over the country. In the past these extraordinary periods usually last from six to twelve weeks. So I expect the remainder of the year to be filled with activity. After the applications slow, closing the deals will consume our time. Hopefully enough people will save enough money to help the consumer side of the national economy. Finally, excuse a bit of shameless self promotion. Our in house property records data base, from which most of the attached data is gleaned, allows us to complete the title insurance commitment for most refinances without having to spend much time at the court house. Even though we re extremely busy our dedicated title group is meeting a very respectable three to four days turnaround time. Only when a title issue that needs more research is discovered do things take a bit longer. Our expanded closing facilities at the World Headquarters and our crack team of closing professionals will effectively deal with the inevitable rescheduling and closing delays that are now unfortunately too much a part of getting deals done. We take pride in providing a consistent level of excellent service in all types of market environments. Thank you for your continued support. We truly appreciate it! ~John Bethell 2010

2 $9,000,000 Dollars - June 2010 Residential and commercial property mortgages filed in Monroe County during June $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 Monroe Bank IUCU UCB JPM Morgan Old Na ational r Amer Ger egions R Fifth Third les SB Peop eld SB Bloomfi 1st Fin nancial Monroe Bank 8,064,573 IUCU 5,375,115 UCB 5,316,300 JPMorgan 4,892,637 Old National 4,575,295 Ger Amer 3,982,413 Regions 3,465,222 Fifth Third 3,335,577 Peoples SB 2,577,124 Bloomfield SB 1,809,556 1st Financial 309,000 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 Monroe Bank 56 IUCU 49 JPMorgan 34 UCB 32 Fifth Third 29 Regions 22 Bloomfield SB 22 Peoples SB 18 Old National 14 Ger Amer 11 1st Financial Monroe Bank IUCU JPMorgan UCB Fifth Third Regions Bloomfield SB Peoples SB Old National Ger Amer 1st Financial

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 to $49,999 $50,000 to $199,999 $200,000-$499,999 $500,000 & up Total Total Lender Docs Amount Docs Amount Docs Amount Docs Amount Docs % Amount % ALLY BANK , , ,600 1 BAXTER CREDIT UNION 1 48, , , BANK OF AMERICA , , ,580, BANK OF AMERICA HOME L BLOOMFIELD STATE BANK 5 103, ,460, , ,809, CRANE FEDERAL CREDIT U , , CITIMORTGAGE FARM CREDIT SERVICES M FIRST FINANCIAL BANK 1 45, , , FARMERS AND MECHANICS , , FIFTH THIRD BANK , , FIFTH THIRD MORTGAGE ,925, ,925, GERMAN AMERICAN BANCOR , ,170, ,375, ,982, HOOSIER HILLS CREDIT U 1 5, ,000 0 INDIANA UNIVERSITY CRE , ,296, ,727, ,375,115 8 JPMORGAN CHASE BANK ,158, ,734, ,892, KEYBANK MONROE BANK 7 218, ,342, ,503, ,064, METLIFE HOME LOANS , , , MORTGAGE MASTERS , , NATIONAL CITY MORTGAGE OWEN COMMUNITY BANK OWEN COUNTY STATE BANK , , OCEAN MIDWEST OLD NATIONAL BANK ,375, ,200, ,575, PROVIDENT FUNDING ASSO , , , PEOPLES STATE BANK 3 83, ,368, ,126, ,577, REGIONS BANK 1 30, , , REGIONS MORTGAGE 1 40, ,475, ,584, ,100, STONE CITY BANK SUPREME LENDING , , UNITED COMMERCE BANK 4 111, ,555, ,649, ,316, UNITED STATES OF AMERI , , UNION SAVINGS BANK , , , WELLS FARGO BANK , , ,077, All Others 8 197, ,444, ,064, ,891, ,597, ====================== ===== =============== ================= ================= =========== ===== ====== ================== TOTALS 45 1,231, ,458, ,132, ,466, ,290,

4 $45,000,000 Dollars - Year-to-Date through June 2010 Residential and commercial property mortgages filed in Monroe County during $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 Monroe Bank 42,689,838 IUCU 35,606,326 UCB 28,499,712 Ger Amer 23,707,839 JPMorgan 17,528,043 Peoples SB 16,387,227 Regions 15,366,869 Fifth Third 15,313,091 Old National 13,728,871 Bloomfield SB 6,521,812 1st Financial 1,623,120 Monroe Bank IUCU UCB Ger Amer JPMo organ People es SB Re egions Fifth Third Old Na ational Bloomfie eld SB 1st Fina ancial Note- Charts and report do not include re-recordings, modifications, or those recorded without a legal description. Fifth Third includes Fifth Third Bank & Fifth Third Mtg, Regions includes Regions Bank & Regions Mtg. Transactions - Year-to-Date through June IUCU 293 Monroe Bank 274 UCB 168 JPMorgan 120 Fifth Third 117 Peoples SB 103 Regions 99 Ger Amer 88 Bloomfield SB 63 Old National 59 1st Financial IUCU Monroe Bank UCB JPMorgan Fifth Third Peoples SB Regions Ger Amer Bloomfield SB Old National 1st Financial

5 Mortgage Report covering all mortgages on Monre County property, both residential and commercial, filed with the Monroe County Recorder during to $49,999 $50,000 to $199,999 $200,000-$499,999 $500,000 & up Total Total Lender Docs Amount Docs Amount Docs Amount Docs Amount Docs % Amount % ALLY BANK , ,381, ,353, BAXTER CREDIT UNION 4 149, , ,619, ,589, BANK OF AMERICA ,514, ,362, , ,606, BANK OF AMERICA HOME L BLOOMFIELD STATE BANK , ,823, ,686, , ,521, CRANE FEDERAL CREDIT U 5 98, , ,085, CITIMORTGAGE 1 26, , , ,168, FARM CREDIT SERVICES M , ,074, ,613, FIRST FINANCIAL BANK 4 105, , , ,623, FARMERS AND MECHANICS ,271, , ,475, FIFTH THIRD BANK 7 196, ,600, ,000, ,797, FIFTH THIRD MORTGAGE 3 134, ,998, ,382, ,515,623 3 GERMAN AMERICAN BANCOR 8 267, ,514, ,668, ,257, ,707, HOOSIER HILLS CREDIT U 3 75, , , INDIANA UNIVERSITY CRE 80 2,225, ,960, ,820, ,600, ,606, JPMORGAN CHASE BANK 3 88, ,760, ,679, ,000, ,528, KEYBANK , , , MONROE BANK 41 1,107, ,314, ,905, ,362, ,689, METLIFE HOME LOANS ,236, , ,961, MORTGAGE MASTERS ,350, , ,672, NATIONAL CITY MORTGAGE , ,000 0 OWEN COMMUNITY BANK , , OWEN COUNTY STATE BANK 1 39, ,014, ,053, OCEAN MIDWEST OLD NATIONAL BANK 9 187, ,632, ,149, ,758, ,728, PROVIDENT FUNDING ASSO ,610, ,535, ,146,200 1 PEOPLES STATE BANK , ,633, ,582, ,537, ,387,227 4 REGIONS BANK 4 80, , , ,273, REGIONS MORTGAGE 3 132, ,527, ,390, ,044, ,093, STONE CITY BANK SUPREME LENDING ,911, , ,627, UNITED COMMERCE BANK , ,617, ,221, ,209, ,499, UNITED STATES OF AMERI 1 39, , , UNION SAVINGS BANK ,602, ,444, ,046,286 1 WELLS FARGO BANK 4 85, ,192, ,534, , ,363,147 2 All Others , ,148, ,792, ,046, ,645, ====================== ===== ================ ================= ================ =========== ===== ====== ============ ====== TOTALS 279 7,225, ,553, ,542, ,665, ,987,

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 to $75,000 $75,001 to $199,999 $200,000-$417,000 $417,001 & up Total Total Lender Docs Amount Docs Amount Docs Amount Docs Amount Docs % Amount % ALLY BANK , , ,600 1 BAXTER CREDIT UNION 1 48, , , BANK OF AMERICA , , ,580, BANK OF AMERICA HOME L BLOOMFIELD STATE BANK , ,132, , ,809, CRANE FEDERAL CREDIT U , , CITIMORTGAGE FARM CREDIT SERVICES M FIRST FINANCIAL BANK 1 45, , , FARMERS AND MECHANICS , , FIFTH THIRD BANK 5 322, , , FIFTH THIRD MORTGAGE 2 142, ,783, ,925, GERMAN AMERICAN BANCOR , ,170, ,375, ,982, HOOSIER HILLS CREDIT U 1 5, ,000 0 INDIANA UNIVERSITY CRE , ,983, ,727, ,375,115 8 JPMORGAN CHASE BANK 2 106, ,051, ,734, ,892, KEYBANK MONROE BANK , ,969, ,503, ,064, METLIFEHOMELOANS LOANS , , , MORTGAGE MASTERS , , NATIONAL CITY MORTGAGE OWEN COMMUNITY BANK OWEN COUNTY STATE BANK , , OCEAN MIDWEST OLD NATIONAL BANK 3 180, ,194, ,200, ,575, PROVIDENT FUNDING ASSO , , , PEOPLES STATE BANK 3 83, ,368, ,126, ,577, REGIONS BANK 4 180, , , REGIONS MORTGAGE 1 40, ,475, ,584, ,100, STONE CITY BANK SUPREME LENDING 1 75, , , UNITED COMMERCE BANK 5 175, ,491, ,649, ,316, UNITED STATES OF AMERI , , UNION SAVINGS BANK , , , WELLS FARGO BANK , , ,077, All Others , ,125, ,064, ,891, ,597, ====================== ===== ============== =================== ================== =========== ===== ====== ============== ====== TOTALS 83 3,604, ,085, ,132, ,466, ,290,

7 Mortgage Report covering all mortgages on Monre County property, both residential and commercial, filed with the Monroe County Recorder during to $75,000 $75,001 to $199,999 $200,000-$417,000 $417,001 & up Total Total Lender Docs Amount Docs Amount Docs Amount Docs Amount Docs % Amount % ALLY BANK , ,381, ,353, BAXTER CREDIT UNION 4 149, , ,619, ,589, BANK OF AMERICA 1 59, ,454, ,912, ,180, ,606, BANK OF AMERICA HOME L BLOOMFIELD STATE BANK 27 1,107, ,158, ,686, , ,521, CRANE FEDERAL CREDIT U 5 98, , ,085, CITIMORTGAGE 2 90, , , ,168, FARM CREDIT SERVICES M 1 72, , ,174, , ,613, FIRST FINANCIAL BANK 4 105, , , ,623, FARMERS AND MECHANICS 2 120, ,151, , ,475, FIFTH THIRD BANK , ,153, ,000, ,797, FIFTH THIRD MORTGAGE , ,509, ,382, ,515,623 3 GERMAN AMERICAN BANCOR , ,077, ,749, ,177, ,707, HOOSIER HILLS CREDIT U 4 125, , , INDIANA UNIVERSITY CRE 108 3,974, ,210, ,820, ,600, ,606, JPMORGAN CHASE BANK , ,905, ,679, ,000, ,528, KEYBANK , , , MONROE BANK 72 2,941, ,480, ,905, ,362, ,689, METLIFE HOME LOANS ,236, , ,961, MORTGAGE MASTERS ,350, , ,672, NATIONAL CITY MORTGAGE , ,000 0 OWEN COMMUNITY BANK 1 74, , , OWEN COUNTY STATE BANK 1 39, ,014, ,053, OCEAN MIDWEST OLD NATIONAL BANK , ,032, ,263, ,645, ,728, PROVIDENT FUNDING ASSO ,610, ,535, ,146,200 1 PEOPLES STATE BANK 31 1,108, ,158, ,094, ,024, ,387,227 4 REGIONS BANK , , , ,273, REGIONS MORTGAGE 4 195, ,464, ,390, ,044, ,093, STONE CITY BANK SUPREME LENDING 1 75, ,836, , ,627, UNITED COMMERCE BANK 37 1,574, ,494, ,886, ,544, ,499, UNITED STATES OF AMERI 2 106, , , UNION SAVINGS BANK 2 120, ,482, ,444, ,046,286 1 WELLS FARGO BANK 7 298, ,979, ,534, , ,363,147 2 All Others 60 2,080, ,725, ,303, ,534, ,645, ====================== ===== ================= ================= ================= ================== ====== ============== ====== TOTALS ,606, ,172, ,075, ,133, ,987,

8 3 Recorded Mortgages by Quarter Between $50K and $500K Recorded Mortgages First Second Third Fourth Quarter 329 South Walnut St

9 4 Mortgage Loan Dollar Volume by Quarter $50K to $500K $300,000,000 $250,000,000 Stated Original Loan Am ount $200,000,000 $150,000,000 $100,000,000 $50,000,000 First Second Third Fourth Quarter 329 South Walnut St

10 700 Recorded Mortgages by Quarter Under $50K Recorded d Mortgages First Second Third Fourth Quarter 329 South Walnut St

11 6 Mortgage Loan Dollar Volume by Quarter Under $50K $18,000,000 $16,000,000 $14,000,000 Stated Original Loan Amount $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $- First Second Third Fourth Quarter 329 South Walnut St

12 Mortgages $75K $200K Monroe County by Quarter 2008 to Stated Loan Amount First Second Third Fourth Quarter 329 South Walnut Street Bloomington IN

13 450 Mortgages $200K to $417K by Quarter First Second Third Fourth South Walnut Street

14 2 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. Quarter 329 South Walnut St

15 5 Primary Residence Sales Last 15 Months T o t a l S a l e s More than $500K $200K to $500K $125K to $200K $50K to $125K Quarter Disclosures indicating property to be buyer's primary residence. From sales disclosure data submitted to State of Indiana DLGF.

16 8 New Foreclosures & Sheriff's Deeds By Month New Foreclosures Deeds Trend Line: New Trend Line: Deeds Month Beginning January 2006