Central Federal Savings & Loan Mortgage Lending & HMDA Data, 2004
In 2004, Central Federal Savings & Loan of Cicero, IL reported 168 mortgage applications totaling $28.5 million, down 30% from 2003. The average application was for $169,422, and applicants reported an average income of $57,267. 68% of its applications resulted in an originated loan and 20% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (159) and Lake County-Kenosha County, IL-WI (2).
| Mortgage Company & Address | Central Federal Savings & Loan 5953 W Cermak Road Cicero, IL 60804 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 | 168 |
| Total Mortgage Loan Application Amount | $28,463,000 |
| Average Mortgage Loan Application Amount | $169,422 |
| Highest Mortgage Loan Application Amount | $552,000 |
| Average Applicant Income | $57,267 |
| Highest Applicant Income | $254,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Central Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Cook, Illinois | 148 | $ 24,320,000 | $ 164,324 | $ 49,000 |
| DuPage, Illinois | 9 | $ 1,608,000 | $ 178,666 | $ 77,000 |
| Lake, Illinois | 2 | $ 433,000 | $ 216,500 | $ 83,000 |
| McHenry, Illinois | 1 | $ 95,000 | $ 95,000 | $ 87,000 |
| Will, Illinois | 1 | $ 169,000 | $ 169,000 | $ 64,000 |
Mortgage Loan Application Detail Totals for Central Federal Savings & Loan in 2004
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 |
|---|---|---|---|---|---|---|
| Refinancing | 85 | $12,947,000 | $152,000 | $323,000 | $52,000 | $123,000 |
| Home Purchase | 71 | $14,894,000 | $233,000 | $552,000 | $83,500 | $254,000 |
| Home Improvement | 12 | $622,000 | $51,000 | $165,000 | $51,000 | $136,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 86 | $14,797,000 | $216,000 | $440,000 | $75,500 | $168,000 |
| White | 73 | $12,410,000 | $197,000 | $552,000 | $89,000 | $254,000 |
| Black or African American | 4 | $286,000 | $71,000 | $215,000 | $74,000 | $108,000 |
| American Indian or Alaskan Native | 1 | $295,000 | $295,000 | $295,000 | $64,000 | $64,000 |
| Asian | 1 | $63,000 | $63,000 | $63,000 | $25,000 | $25,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $230,000 | $230,000 | $230,000 | $82,000 | $82,000 |
| Not applicable | 1 | $132,000 | $132,000 | $132,000 | $50,000 | $50,000 |
| Not Provided | 1 | $250,000 | $250,000 | $250,000 | $74,000 | $74,000 |
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) | 168 | $28,463,000 | $213,500 | $552,000 | $81,000 | $254,000 |
| 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 | 114 | $17,713,000 | $155,000 | $440,000 | $67,000 | $254,000 |
| Application Denied By Financial Institution | 34 | $5,803,000 | $170,000 | $552,000 | $41,000 | $82,000 |
| Application Withdrawn By Applicant | 11 | $2,501,000 | $227,000 | $400,000 | $59,000 | $125,000 |
| Preapproval Approved but not Accepted | 4 | $1,045,000 | $261,000 | $300,000 | $103,000 | $120,000 |
| Preapproval Denied by Financial Institution | 3 | $793,000 | $264,000 | $383,000 | $111,000 | $168,000 |
| Application Approved But Not Accepted | 1 | $305,000 | $305,000 | $305,000 | $47,000 | $47,000 |
| File Closed For Incompleteness | 1 | $303,000 | $303,000 | $303,000 | $64,000 | $64,000 |
| 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 | 13 | $2,076,000 | $262,000 | $383,000 | $111,500 | $168,000 |
| Debt-To-Income Ratio | 13 | $2,259,000 | $186,500 | $289,000 | $41,500 | $61,000 |
| Other | 5 | $855,000 | $171,000 | $290,000 | $54,000 | $65,000 |
| Collateral | 3 | $1,029,000 | $343,000 | $552,000 | $22,000 | $68,000 |
| Unverifiable Information | 1 | $100,000 | $100,000 | $100,000 | $24,000 | $24,000 |
| Employment History | 1 | $113,000 | $113,000 | $113,000 | $28,000 | $28,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $164,000 | $164,000 | $164,000 | $78,000 | $78,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Central Federal Savings & Loan's 2004 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 Central Federal Savings & Loan'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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