American 1 Federal Credit Unio Mortgage Lending & HMDA Data, 2003
In 2003, American 1 Federal Credit Unio of Jackson, MI reported 237 mortgage applications totaling $7.5 million. The average application was for $31,666, and applicants reported an average income of $59,021. 79% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Jackson, MI (135), Grand Rapids-Muskegon-Holland, MI (24) and Kalamazoo-Battle Creek, MI (16) (applications in parentheses).
| Mortgage Company & Address | American 1 Federal Credit Unio 718 E. Michigan Ave. Jackson, MI 49201 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 237 |
| Total Mortgage Loan Application Amount | $7,505,000 |
| Average Mortgage Loan Application Amount | $31,666 |
| Highest Mortgage Loan Application Amount | $106,000 |
| Average Applicant Income | $59,021 |
| Highest Applicant Income | $243,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records American 1 Federal Credit Unio filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 135 | $ 4,461,000 | $ 33,044 | $ 40,000 |
| Hillsdale, Michigan | 33 | $ 879,000 | $ 26,636 | $ 48,000 |
| Kent, Michigan | 16 | $ 446,000 | $ 27,875 | $ 79,000 |
| Calhoun, Michigan | 15 | $ 402,000 | $ 26,800 | $ 37,000 |
| Lenawee, Michigan | 8 | $ 166,000 | $ 20,750 | $ 65,000 |
| Ingham, Michigan | 6 | $ 191,000 | $ 31,833 | $ 59,000 |
| Allegan, Michigan | 3 | $ 147,000 | $ 49,000 | $ 48,000 |
| Ottawa, Michigan | 3 | $ 100,000 | $ 33,333 | $ 83,000 |
| Barry, Michigan | 2 | $ 123,000 | $ 61,500 | $ 135,000 |
| Branch, Michigan | 2 | $ 52,000 | $ 26,000 | $ 41,000 |
| Clinton, Michigan | 2 | $ 42,000 | $ 21,000 | $ 88,000 |
| Muskegon, Michigan | 2 | $ 96,000 | $ 48,000 | $ 74,000 |
| Newaygo, Michigan | 2 | $ 66,000 | $ 33,000 | $ 140,000 |
| Washtenaw, Michigan | 2 | $ 120,000 | $ 60,000 | $ 56,000 |
| Eaton, Michigan | 1 | $ 27,000 | $ 27,000 | $ 64,000 |
| Genesee, Michigan | 1 | $ 25,000 | $ 25,000 | $ 78,000 |
| Grand Traverse, Michigan | 1 | $ 25,000 | $ 25,000 | $ 33,000 |
| Kalamazoo, Michigan | 1 | $ 55,000 | $ 55,000 | $ 84,000 |
| Livingston, Michigan | 1 | $ 32,000 | $ 32,000 | $ 57,000 |
| Oakland, Michigan | 1 | $ 50,000 | $ 50,000 | $ 54,000 |
Mortgage Loan Application Detail Totals for American 1 Federal Credit Unio in 2003
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 (one-to-four family) | 236 | $7,492,000 | $31,000 | $106,000 | $59,000 | $243,000 |
| Refinancing (home purchase or home improvement, one-to-four family) | 1 | $13,000 | $13,000 | $13,000 | $64,000 | $64,000 |
| Home Purchase (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 220 | $6,993,000 | $31,000 | $106,000 | $60,000 | $243,000 |
| Black | 13 | $412,000 | $31,000 | $64,000 | $75,000 | $117,000 |
| Hispanic | 2 | $51,000 | $25,000 | $30,000 | $29,000 | $36,000 |
| Asian or Pacific Islander | 2 | $49,000 | $24,000 | $27,000 | $46,000 | $46,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Information not provided by applicant in mail or telephone application | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 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) | 237 | $7,505,000 | $31,000 | $106,000 | $59,000 | $243,000 |
| 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 | 188 | $6,154,000 | $32,000 | $106,000 | $70,000 | $243,000 |
| Application Denied By Financial Institution | 27 | $670,000 | $24,000 | $98,000 | $44,000 | $111,000 |
| Application Withdrawn By Applicant | 21 | $626,000 | $29,000 | $105,000 | $47,000 | $96,000 |
| Application Approved But Not Accepted | 1 | $55,000 | $55,000 | $55,000 | $84,000 | $84,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 | 11 | $331,000 | $30,000 | $98,000 | $36,000 | $111,000 |
| Debt-To-Income Ratio | 11 | $202,000 | $18,000 | $36,000 | $38,000 | $97,000 |
| Collateral | 3 | $77,000 | $25,000 | $43,000 | $80,000 | $108,000 |
| Employment History | 2 | $60,000 | $30,000 | $40,000 | $28,000 | $33,000 |
| 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 Federal Credit Unio's 2003 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 Federal Credit Unio'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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