Allegis Credit Union Mortgage Lending & HMDA Data, 2007
In 2007, Allegis Credit Union of Kalamazoo, MI reported 208 mortgage applications totaling $11.3 million, up 110% from 2006. The average application was for $54,250, and applicants reported an average income of $56,644. 23% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Kalamazoo-Portage, MI (98), Battle Creek, MI (5) and South Bend-Mishawaka, IN-MI (3) (applications in parentheses).
| Mortgage Company & Address | Allegis Credit Union 5713 Venture Park Dr. Kalamazoo, MI 49009 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 2010 2009 2008 2007 2006 |
| Total Number of Mortgage Applications | 208 |
| Total Mortgage Loan Application Amount | $11,284,000 |
| Average Mortgage Loan Application Amount | $54,250 |
| Highest Mortgage Loan Application Amount | $250,000 |
| Average Applicant Income | $56,644 |
| Highest Applicant Income | $348,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Allegis Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Branch, Michigan | 60 | $ 2,560,000 | $ 42,666 | $ 47,000 |
| Kalamazoo, Michigan | 60 | $ 2,812,000 | $ 46,866 | $ 70,000 |
| Van Buren, Michigan | 38 | $ 1,670,000 | $ 43,947 | $ 60,000 |
| Allegan, Michigan | 5 | $ 176,000 | $ 35,200 | $ 69,000 |
| Calhoun, Michigan | 5 | $ 135,000 | $ 27,000 | $ 52,000 |
| Cass, Michigan | 3 | $ 179,000 | $ 59,666 | $ 45,000 |
| Hillsdale, Michigan | 2 | $ 42,000 | $ 21,000 | $ 65,000 |
| St. Joseph, Michigan | 2 | $ 93,000 | $ 46,500 | $ 54,000 |
| Barry, Michigan | 1 | $ 192,000 | $ 192,000 | $ 50,000 |
| Berrien, Michigan | 1 | $ 5,000 | $ 5,000 | $ 28,000 |
| Eaton, Michigan | 1 | $ 50,000 | $ 50,000 | $ 88,000 |
| Livingston, Michigan | 1 | $ 170,000 | $ 170,000 | $ 96,000 |
| Washtenaw, Michigan | 1 | $ 39,000 | $ 39,000 | $ 98,000 |
Mortgage Loan Application Detail Totals for Allegis Credit Union in 2007
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Improvement | 116 | $3,477,000 | $29,000 | $200,000 | $54,000 | $189,000 |
| Refinancing | 50 | $3,625,000 | $72,000 | $199,000 | $65,000 | $348,000 |
| Home Purchase | 42 | $4,182,000 | $99,000 | $250,000 | $54,000 | $130,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 184 | $9,561,000 | $51,000 | $227,000 | $58,000 | $348,000 |
| Black or African American | 14 | $593,000 | $42,000 | $143,000 | $64,000 | $130,000 |
| Not Provided | 8 | $967,000 | $120,000 | $250,000 | $31,000 | $109,000 |
| Hispanic | 2 | $163,000 | $81,000 | $138,000 | $61,000 | $78,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 208 | $11,284,000 | $54,000 | $250,000 | $57,000 | $348,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Purchased By The Institution | 115 | $3,018,000 | $26,000 | $81,000 | $60,000 | $189,000 |
| Loan Originated | 47 | $4,403,000 | $93,000 | $199,000 | $67,000 | $348,000 |
| Application Withdrawn By Applicant | 29 | $3,253,000 | $112,000 | $250,000 | $42,000 | $109,000 |
| Application Denied By Financial Institution | 17 | $610,000 | $35,000 | $200,000 | $34,000 | $122,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 9 | $444,000 | $49,000 | $200,000 | $36,000 | $122,000 |
| Collateral | 5 | $86,000 | $17,000 | $26,000 | $34,000 | $57,000 |
| Debt-To-Income Ratio | 3 | $80,000 | $26,000 | $40,000 | $30,000 | $47,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Allegis Credit Union's 2007 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Allegis Credit Union's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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with aggregated HMDA statistics today.
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