American 1 Credit Union Mortgage Lending & HMDA Data, 2014
In 2014, American 1 Credit Union of Jackson, MI reported 285 mortgage applications totaling $2.2 million, down 3% from 2013. The average application was for $7,670, and applicants reported an average income of $58,887. 64% of its applications resulted in an originated loan and 24% were denied. Its largest markets were Jackson, MI (161), Battle Creek, MI (29) and Warren-Troy-Farmington Hills, MI (26) (applications in parentheses).
| Mortgage Company & Address | American 1 Credit Union 718 E. Michigan Ave. Jackson, MI 49201 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 285 |
| Total Mortgage Loan Application Amount | $2,186,000 |
| Average Mortgage Loan Application Amount | $7,670 |
| Highest Mortgage Loan Application Amount | $65,000 |
| Average Applicant Income | $58,887 |
| Highest Applicant Income | $210,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records American 1 Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Jackson, Michigan | 161 | $ 1,247,000 | $ 7,745 | $ 57,000 |
| Calhoun, Michigan | 29 | $ 161,000 | $ 5,551 | $ 44,000 |
| Hillsdale, Michigan | 24 | $ 177,000 | $ 7,375 | $ 55,000 |
| Wayne, Michigan | 19 | $ 155,000 | $ 8,157 | $ 78,000 |
| Macomb, Michigan | 17 | $ 151,000 | $ 8,882 | $ 60,000 |
| Lenawee, Michigan | 7 | $ 37,000 | $ 5,285 | $ 52,000 |
| Oakland, Michigan | 7 | $ 40,000 | $ 5,714 | $ 99,000 |
| Ingham, Michigan | 3 | $ 11,000 | $ 3,666 | $ 32,000 |
| Washtenaw, Michigan | 3 | $ 25,000 | $ 8,333 | $ 42,000 |
| Branch, Michigan | 2 | $ 59,000 | $ 29,500 | $ 82,000 |
| Livingston, Michigan | 2 | $ 11,000 | $ 5,500 | $ 82,000 |
| Riverside, California | 1 | $ 5,000 | $ 5,000 | $ 173,000 |
| Cobb, Georgia | 1 | $ 25,000 | $ 25,000 | $ 127,000 |
| Marion, Indiana | 1 | $ 15,000 | $ 15,000 | $ 91,000 |
| Eaton, Michigan | 1 | $ 2,000 | $ 2,000 | $ 18,000 |
| Ionia, Michigan | 1 | $ 5,000 | $ 5,000 | $ 86,000 |
| Kalamazoo, Michigan | 1 | $ 8,000 | $ 8,000 | $ 71,000 |
| Mecosta, Michigan | 1 | $ 5,000 | $ 5,000 | $ 54,000 |
| Monroe, Michigan | 1 | $ 5,000 | $ 5,000 | $ 80,000 |
| Muskegon, Michigan | 1 | $ 8,000 | $ 8,000 | $ 31,000 |
| St. Louis, Minnesota | 1 | $ 20,000 | $ 20,000 | $ 92,000 |
| Lucas, Ohio | 1 | $ 14,000 | $ 14,000 | $ 108,000 |
Mortgage Loan Application Detail Totals for American 1 Credit Union in 2014
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 | 284 | $2,185,000 | $7,000 | $65,000 | $59,000 | $210,000 |
| Home Purchase | 1 | $1,000 | $1,000 | $1,000 | $27,000 | $27,000 |
| Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 242 | $1,899,000 | $7,000 | $65,000 | $60,000 | $210,000 |
| Black or African American | 33 | $199,000 | $6,000 | $20,000 | $58,000 | $143,000 |
| Hispanic | 5 | $58,000 | $11,000 | $27,000 | $46,000 | $67,000 |
| Asian | 3 | $23,000 | $7,000 | $10,000 | $44,000 | $65,000 |
| American Indian or Alaskan Native | 1 | $4,000 | $4,000 | $4,000 | $27,000 | $27,000 |
| Not Provided | 1 | $3,000 | $3,000 | $3,000 | $15,000 | $15,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 285 | $2,186,000 | $7,000 | $65,000 | $59,000 | $210,000 |
| 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 Originated | 183 | $1,441,000 | $7,000 | $44,000 | $62,000 | $193,000 |
| Application Denied By Financial Institution | 68 | $402,000 | $5,000 | $24,000 | $46,000 | $186,000 |
| Application Withdrawn By Applicant | 23 | $234,000 | $10,000 | $65,000 | $60,000 | $150,000 |
| Application Approved But Not Accepted | 7 | $79,000 | $11,000 | $25,000 | $93,000 | $210,000 |
| File Closed For Incompleteness | 4 | $30,000 | $7,000 | $15,000 | $65,000 | $88,000 |
| Loan Purchased By The Institution | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 31 | $177,000 | $5,000 | $20,000 | $42,000 | $99,000 |
| Credit History | 15 | $71,000 | $4,000 | $10,000 | $41,000 | $92,000 |
| Collateral | 3 | $24,000 | $8,000 | $10,000 | $110,000 | $153,000 |
| Other | 1 | $5,000 | $5,000 | $5,000 | $186,000 | $186,000 |
| Employment History | 1 | $24,000 | $24,000 | $24,000 | $24,000 | $24,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 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 American 1 Credit Union's 2014 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 American 1 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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