American 1 Federal Credit Unio Mortgage Lending & HMDA Data, 2006
In 2006, American 1 Federal Credit Unio of Jackson, MI reported 314 mortgage applications totaling $11.3 million, up 45% from 2005. The average application was for $35,955, and applicants reported an average income of $54,340. 47% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Jackson, MI (191), Battle Creek, MI (41) and Ann Arbor, MI (4) (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 | 314 |
| Total Mortgage Loan Application Amount | $11,290,000 |
| Average Mortgage Loan Application Amount | $35,955 |
| Highest Mortgage Loan Application Amount | $160,000 |
| Average Applicant Income | $54,340 |
| Highest Applicant Income | $262,000 |
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records American 1 Federal Credit Unio filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 191 | $ 7,085,000 | $ 37,094 | $ 56,000 |
| Hillsdale, Michigan | 48 | $ 1,471,000 | $ 30,645 | $ 46,000 |
| Calhoun, Michigan | 41 | $ 1,183,000 | $ 28,853 | $ 44,000 |
| Lenawee, Michigan | 13 | $ 688,000 | $ 52,923 | $ 63,000 |
| Washtenaw, Michigan | 4 | $ 102,000 | $ 25,500 | $ 66,000 |
| Ingham, Michigan | 3 | $ 102,000 | $ 34,000 | $ 51,000 |
| Kalamazoo, Michigan | 3 | $ 132,000 | $ 44,000 | $ 74,000 |
| Kent, Michigan | 2 | $ 50,000 | $ 25,000 | $ 139,000 |
| Forsyth, Georgia | 1 | $ 35,000 | $ 35,000 | $ 111,000 |
| Branch, Michigan | 1 | $ 5,000 | $ 5,000 | $ 30,000 |
| Eaton, Michigan | 1 | $ 15,000 | $ 15,000 | $ 47,000 |
| Ionia, Michigan | 1 | $ 65,000 | $ 65,000 | $ 80,000 |
| Osceola, Michigan | 1 | $ 160,000 | $ 160,000 | $ 41,000 |
| St. Joseph, Michigan | 1 | $ 110,000 | $ 110,000 | $ 31,000 |
| Wayne, Michigan | 1 | $ 10,000 | $ 10,000 | $ 83,000 |
| Bernalillo, New Mexico | 1 | $ 47,000 | $ 47,000 | $ 0 |
| Lucas, Ohio | 1 | $ 30,000 | $ 30,000 | $ 20,000 |
Mortgage Loan Application Detail Totals for American 1 Federal Credit Unio in 2006
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 | 167 | $6,337,000 | $37,000 | $160,000 | $52,000 | $262,000 |
| Refinancing | 147 | $4,953,000 | $33,000 | $160,000 | $57,000 | $147,000 |
| 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 | 164 | $5,454,000 | $33,000 | $160,000 | $54,000 | $147,000 |
| Not Provided | 141 | $5,548,000 | $39,000 | $160,000 | $54,000 | $262,000 |
| Black or African American | 4 | $126,000 | $31,000 | $44,000 | $42,000 | $81,000 |
| Hispanic | 3 | $115,000 | $38,000 | $70,000 | $57,000 | $73,000 |
| American Indian or Alaskan Native | 2 | $47,000 | $23,000 | $32,000 | $75,000 | $106,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 314 | $11,290,000 | $35,000 | $160,000 | $54,000 | $262,000 |
| 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 | 147 | $4,968,000 | $33,000 | $160,000 | $58,000 | $147,000 |
| Application Withdrawn By Applicant | 107 | $4,503,000 | $42,000 | $160,000 | $53,000 | $262,000 |
| Application Denied By Financial Institution | 60 | $1,819,000 | $30,000 | $107,000 | $47,000 | $126,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 30 | $748,000 | $24,000 | $80,000 | $51,000 | $126,000 |
| Debt-To-Income Ratio | 21 | $768,000 | $36,000 | $107,000 | $44,000 | $111,000 |
| Collateral | 8 | $292,000 | $36,000 | $70,000 | $47,000 | $111,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into American 1 Federal Credit Unio's 2006 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.
For a list of all lenders in Michigan, download the full spreadsheet
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