American 1 Credit Union Mortgage Lending & HMDA Data, 2016
In 2016, American 1 Credit Union of Jackson, MI reported 315 mortgage applications totaling $2.4 million, up 9% from 2015. The average application was for $7,765, and applicants reported an average income of $59,361. 61% of its applications resulted in an originated loan and 31% were denied. Its largest markets were Jackson, MI (183), Detroit-Dearborn-Livonia, MI (22) and Battle Creek, MI (20) (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 | 315 |
| Total Mortgage Loan Application Amount | $2,446,000 |
| Average Mortgage Loan Application Amount | $7,765 |
| Highest Mortgage Loan Application Amount | $40,000 |
| Average Applicant Income | $59,361 |
| Highest Applicant Income | $187,000 |
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(HMDA) records American 1 Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Jackson, MI | 183 | $ 1,441,000 | $ 7,874 | $ 56,000 |
| Detroit-Dearborn-Livonia, MI | 22 | $ 111,000 | $ 5,045 | $ 66,000 |
| Battle Creek, MI | 20 | $ 133,000 | $ 6,650 | $ 53,000 |
| Warren-Troy-Farmington Hills, MI | 16 | $ 155,000 | $ 9,687 | $ 76,000 |
| Ann Arbor, MI | 10 | $ 78,000 | $ 7,800 | $ 62,000 |
| Monroe, MI | 4 | $ 38,000 | $ 9,500 | $ 52,000 |
| Lansing-East Lansing, MI | 3 | $ 29,000 | $ 9,666 | $ 41,000 |
| Weirton-Steubenville, WV-OH | 2 | $ 9,000 | $ 4,500 | $ 59,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 15,000 | $ 15,000 | $ 152,000 |
| Indianapolis-Carmel-Anderson, IN | 1 | $ 20,000 | $ 20,000 | $ 50,000 |
| Jacksonville, FL | 1 | $ 5,000 | $ 5,000 | $ 57,000 |
| Louisville/Jefferson County, KY-IN | 1 | $ 10,000 | $ 10,000 | $ 135,000 |
| Olympia-Tumwater, WA | 1 | $ 9,000 | $ 9,000 | $ 77,000 |
| Richmond, VA | 1 | $ 23,000 | $ 23,000 | $ 107,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 10,000 | $ 10,000 | $ 173,000 |
| St. Louis, MO-IL | 1 | $ 20,000 | $ 20,000 | $ 65,000 |
| Topeka, KS | 1 | $ 12,000 | $ 12,000 | $ 43,000 |
Mortgage Loan Application Detail Totals for American 1 Credit Union in 2016
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 | 314 | $2,436,000 | $7,000 | $40,000 | $59,000 | $187,000 |
| Refinancing | 1 | $10,000 | $10,000 | $10,000 | $173,000 | $173,000 |
| Home Purchase | 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 | 273 | $2,180,000 | $7,000 | $40,000 | $58,000 | $187,000 |
| Black or African American | 28 | $163,000 | $5,000 | $17,000 | $67,000 | $125,000 |
| Not applicable | 6 | $28,000 | $4,000 | $10,000 | $50,000 | $109,000 |
| American Indian or Alaskan Native | 4 | $24,000 | $6,000 | $10,000 | $61,000 | $135,000 |
| Hispanic | 2 | $13,000 | $6,000 | $8,000 | $56,000 | $83,000 |
| Native Hawaiin or Other Pacific Islander | 1 | $15,000 | $15,000 | $15,000 | $30,000 | $30,000 |
| Asian | 1 | $23,000 | $23,000 | $23,000 | $107,000 | $107,000 |
| Not Provided | 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) | 315 | $2,446,000 | $7,000 | $40,000 | $59,000 | $187,000 |
| 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 | 193 | $1,511,000 | $7,000 | $25,000 | $64,000 | $173,000 |
| Application Denied By Financial Institution | 97 | $697,000 | $7,000 | $40,000 | $51,000 | $145,000 |
| Application Approved But Not Accepted | 21 | $219,000 | $10,000 | $30,000 | $58,000 | $187,000 |
| Application Withdrawn By Applicant | 2 | $12,000 | $6,000 | $8,000 | $56,000 | $65,000 |
| File Closed For Incompleteness | 2 | $7,000 | $3,000 | $5,000 | $34,000 | $37,000 |
| 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 | 54 | $385,000 | $7,000 | $20,000 | $45,000 | $145,000 |
| Credit History | 31 | $222,000 | $7,000 | $40,000 | $57,000 | $120,000 |
| Collateral | 7 | $38,000 | $5,000 | $10,000 | $72,000 | $137,000 |
| Employment History | 5 | $52,000 | $10,000 | $23,000 | $42,000 | $107,000 |
| 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 American 1 Credit Union's 2016 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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