Centennial Mortgage & Funding Mortgage Lending & HMDA Data, 2007
In 2007, Centennial Mortgage & Funding of Bloomington, MN reported 2,571 mortgage applications totaling $414.0 million, down 14% from 2006. The average application was for $161,039, and applicants reported an average income of $68,106. 64% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (1,219), Kalamazoo-Portage, MI (197) and Duluth, MN-WI (124) (applications in parentheses).
| Mortgage Company & Address | Centennial Mortgage & Funding 5001 American Blvd West, Ste 1000 Bloomington, MN 55437 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2003 |
| Total Number of Mortgage Applications | 2,571 |
| Total Mortgage Loan Application Amount | $414,033,000 |
| Average Mortgage Loan Application Amount | $161,039 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $68,106 |
| Highest Applicant Income | $918,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Centennial Mortgage & Funding filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | 1,219 | $ 251,194,000 | $ 206,065 | $ 81,635 |
| Kalamazoo-Portage, MI | 197 | $ 24,007,000 | $ 121,862 | $ 71,000 |
| Duluth, MN-WI | 124 | $ 14,802,000 | $ 119,370 | $ 59,612 |
| Grand Rapids-Wyoming, MI | 113 | $ 10,923,000 | $ 96,663 | $ 43,000 |
| Cedar Rapids, IA | 82 | $ 10,513,000 | $ 128,207 | $ 58,000 |
| Battle Creek, MI | 65 | $ 6,281,000 | $ 96,630 | $ 57,000 |
| Milwaukee-Waukesha-West Allis, WI | 35 | $ 4,208,000 | $ 120,228 | $ 52,000 |
| Detroit-Livonia-Dearborn, MI | 22 | $ 1,395,000 | $ 63,409 | $ 46,000 |
| Rochester, MN | 18 | $ 3,503,000 | $ 194,611 | $ 60,000 |
| Houston-Sugar Land-Baytown, TX | 15 | $ 2,479,000 | $ 165,266 | $ 73,000 |
| St. Cloud, MN | 13 | $ 1,469,000 | $ 113,000 | $ 63,000 |
| Beaumont-Port Arthur, TX | 9 | $ 1,117,000 | $ 124,111 | $ 63,000 |
| Chicago-Naperville-Joliet, IL | 9 | $ 2,521,000 | $ 280,111 | $ 102,000 |
| Indianapolis-Carmel, IN | 8 | $ 2,101,000 | $ 262,625 | $ 21,000 |
| Waterloo-Cedar Falls, IA | 6 | $ 1,085,000 | $ 180,833 | $ 70,000 |
| Iowa City, IA | 5 | $ 504,000 | $ 100,800 | $ 52,000 |
| Warren-Troy-Farmington Hills, MI | 5 | $ 1,055,000 | $ 211,000 | $ 35,000 |
| Eau Claire, WI | 4 | $ 541,000 | $ 135,250 | $ 58,000 |
| Lake County-Kenosha County, IL-WI | 4 | $ 496,000 | $ 124,000 | $ 80,000 |
| Austin-Round Rock, TX | 3 | $ 369,000 | $ 123,000 | $ 77,000 |
| Lansing-East Lansing, MI | 3 | $ 338,000 | $ 112,666 | $ 43,000 |
| Muskegon-Norton Shores, MI | 3 | $ 318,000 | $ 106,000 | $ 39,000 |
| Racine, WI | 3 | $ 224,000 | $ 74,666 | $ 50,000 |
| Sarasota-Bradenton-Venice, FL | 3 | $ 270,000 | $ 90,000 | $ 190,000 |
| College Station-Bryan, TX | 2 | $ 174,000 | $ 87,000 | $ 32,000 |
| Des Moines-West Des Moines, IA | 2 | $ 289,000 | $ 144,500 | $ 46,000 |
| Fort Worth-Arlington, TX | 2 | $ 510,000 | $ 255,000 | $ 321,000 |
| Jacksonville, FL | 2 | $ 267,000 | $ 133,500 | $ 66,000 |
| Madison, WI | 2 | $ 352,000 | $ 176,000 | $ 72,000 |
| Wausau, WI | 2 | $ 379,000 | $ 189,500 | $ 117,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 2 | $ 1,022,000 | $ 511,000 | $ 63,000 |
| Amarillo, TX | 1 | $ 112,000 | $ 112,000 | $ 53,000 |
| Ames, IA | 1 | $ 147,000 | $ 147,000 | $ 39,000 |
| Anderson, IN | 1 | $ 72,000 | $ 72,000 | $ 30,000 |
| Ann Arbor, MI | 1 | $ 105,000 | $ 105,000 | $ 138,000 |
| Bay City, MI | 1 | $ 65,000 | $ 65,000 | $ 24,000 |
| Cleveland-Elyria-Mentor, OH | 1 | $ 332,000 | $ 332,000 | $ 149,000 |
| Dallas-Plano-Irving, TX | 1 | $ 180,000 | $ 180,000 | $ 99,000 |
| Fargo, ND-MN | 1 | $ 115,000 | $ 115,000 | $ 36,000 |
| Flint, MI | 1 | $ 22,000 | $ 22,000 | $ 14,000 |
| Fond Du Lac, WI | 1 | $ 245,000 | $ 245,000 | $ 68,000 |
| Grand Forks, ND-MN | 1 | $ 15,000 | $ 15,000 | $ 51,000 |
| Green Bay, WI | 1 | $ 253,000 | $ 253,000 | $ 118,000 |
| Holland-Grand Haven, MI | 1 | $ 145,000 | $ 145,000 | $ 66,000 |
| Niles-Benton Harbor, MI | 1 | $ 74,000 | $ 74,000 | $ 37,000 |
| Rapid City, SD | 1 | $ 146,000 | $ 146,000 | $ 35,000 |
| Saginaw-Saginaw Township North, MI | 1 | $ 76,000 | $ 76,000 | $ 36,000 |
| San Antonio, TX | 1 | $ 69,000 | $ 69,000 | $ 91,000 |
| Sheboygan, WI | 1 | $ 170,000 | $ 170,000 | $ 51,000 |
| Sioux Falls, SD | 1 | $ 10,000 | $ 10,000 | $ 78,000 |
| South Bend-Mishawaka, IN-MI | 1 | $ 176,000 | $ 176,000 | $ 220,000 |
| St. Louis, MO-IL | 1 | $ 119,000 | $ 119,000 | $ 49,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 90,000 | $ 90,000 | $ 48,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 1 | $ 236,000 | $ 236,000 | $ 67,000 |
Mortgage Loan Application Detail Totals for Centennial Mortgage & Funding 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 Purchase | 1,607 | $249,790,000 | $155,000 | $1,000,000 | $67,000 | $613,000 |
| Refinancing | 960 | $163,863,000 | $170,000 | $2,000,000 | $70,000 | $918,000 |
| Home Improvement | 4 | $380,000 | $95,000 | $250,000 | $58,000 | $150,000 |
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 | 1,950 | $293,890,000 | $150,000 | $2,000,000 | $69,000 | $918,000 |
| Black or African American | 197 | $36,490,000 | $185,000 | $740,000 | $75,000 | $300,000 |
| Asian | 171 | $36,023,000 | $210,000 | $649,000 | $72,000 | $228,000 |
| Not Provided | 156 | $30,749,000 | $197,000 | $998,000 | $57,000 | $321,000 |
| Hispanic | 83 | $13,861,000 | $167,000 | $430,000 | $44,000 | $133,000 |
| American Indian or Alaskan Native | 8 | $1,254,000 | $156,000 | $358,000 | $61,000 | $180,000 |
| Native Hawaiian or Other Pacific Islander | 6 | $1,766,000 | $294,000 | $404,000 | $115,000 | $162,000 |
| 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) | 2,250 | $372,442,000 | $165,000 | $2,000,000 | $71,000 | $918,000 |
| FHA-insured (Federal Housing Administration) | 267 | $34,400,000 | $128,000 | $281,000 | $52,000 | $189,000 |
| VA-guaranteed (Veterans Administration) | 28 | $4,813,000 | $171,000 | $407,000 | $49,000 | $113,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 26 | $2,378,000 | $91,000 | $161,000 | $42,000 | $157,000 |
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 | 1,634 | $240,013,000 | $146,000 | $1,280,000 | $65,000 | $480,000 |
| Application Approved But Not Accepted | 315 | $51,162,000 | $162,000 | $656,000 | $74,000 | $613,000 |
| Application Denied By Financial Institution | 290 | $56,508,000 | $194,000 | $998,000 | $81,000 | $361,000 |
| Application Withdrawn By Applicant | 216 | $42,858,000 | $198,000 | $2,000,000 | $66,000 | $918,000 |
| File Closed For Incompleteness | 116 | $23,492,000 | $202,000 | $650,000 | $77,000 | $404,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 33 | $7,258,000 | $219,000 | $628,000 | $97,000 | $361,000 |
| Credit History | 29 | $4,711,000 | $162,000 | $351,000 | $58,000 | $169,000 |
| Debt-To-Income Ratio | 25 | $4,681,000 | $187,000 | $570,000 | $77,000 | $330,000 |
| Collateral | 16 | $3,094,000 | $193,000 | $590,000 | $78,000 | $189,000 |
| Unverifiable Information | 10 | $2,810,000 | $281,000 | $580,000 | $115,000 | $281,000 |
| Credit Application Incomplete | 8 | $2,385,000 | $298,000 | $618,000 | $93,000 | $300,000 |
| Employment History | 1 | $340,000 | $340,000 | $340,000 | $104,000 | $104,000 |
| Mortgage Insurance Denied | 1 | $189,000 | $189,000 | $189,000 | $40,000 | $40,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Centennial Mortgage & Funding'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 Centennial Mortgage & Funding'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 Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.
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