Central Federal Savings & Loan Mortgage Lending & HMDA Data, 2009
In 2009, Central Federal Savings & Loan of Cicero, IL reported 168 mortgage applications totaling $25.9 million, up 2% from 2008. The average application was for $154,363, and applicants reported an average income of $64,160. 68% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (152) 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 | $25,933,000 |
| Average Mortgage Loan Application Amount | $154,363 |
| Highest Mortgage Loan Application Amount | $470,000 |
| Average Applicant Income | $64,160 |
| Highest Applicant Income | $307,000 |
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records Central Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 135 | $ 20,921,000 | $ 154,970 | $ 62,000 |
| DuPage, Illinois | 12 | $ 1,883,000 | $ 156,916 | $ 97,000 |
| Will, Illinois | 3 | $ 550,000 | $ 183,333 | $ 108,000 |
| Lake, Illinois | 2 | $ 280,000 | $ 140,000 | $ 67,000 |
| Kane, Illinois | 1 | $ 280,000 | $ 280,000 | $ 125,000 |
| McHenry, Illinois | 1 | $ 220,000 | $ 220,000 | $ 46,000 |
Mortgage Loan Application Detail Totals for Central Federal Savings & Loan in 2009
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 | 114 | $19,568,000 | $171,000 | $470,000 | $67,000 | $307,000 |
| Home Purchase | 45 | $5,144,000 | $114,000 | $290,000 | $61,000 | $255,000 |
| Home Improvement | 9 | $1,221,000 | $135,000 | $390,000 | $44,000 | $117,000 |
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 | 81 | $13,409,000 | $165,000 | $470,000 | $67,000 | $200,000 |
| Hispanic | 80 | $11,421,000 | $142,000 | $422,000 | $54,000 | $186,000 |
| Asian | 4 | $658,000 | $164,000 | $206,000 | $217,000 | $307,000 |
| Black or African American | 2 | $226,000 | $113,000 | $150,000 | $82,000 | $92,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $219,000 | $219,000 | $219,000 | $91,000 | $91,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 168 | $25,933,000 | $154,000 | $470,000 | $64,000 | $307,000 |
| 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 | 115 | $17,764,000 | $154,000 | $470,000 | $64,000 | $307,000 |
| Application Denied By Financial Institution | 25 | $4,430,000 | $177,000 | $422,000 | $73,000 | $137,000 |
| Preapproval Approved but not Accepted | 11 | $1,448,000 | $131,000 | $280,000 | $57,000 | $111,000 |
| Application Withdrawn By Applicant | 10 | $1,353,000 | $135,000 | $280,000 | $72,000 | $125,000 |
| Application Approved But Not Accepted | 4 | $673,000 | $168,000 | $300,000 | $21,000 | $42,000 |
| Preapproval Denied by Financial Institution | 2 | $235,000 | $117,000 | $195,000 | $29,000 | $42,000 |
| File Closed For Incompleteness | 1 | $30,000 | $30,000 | $30,000 | $93,000 | $93,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 18 | $3,262,000 | $181,000 | $422,000 | $77,000 | $137,000 |
| Debt-To-Income Ratio | 5 | $953,000 | $190,000 | $273,000 | $63,000 | $92,000 |
| Credit History | 2 | $190,000 | $95,000 | $150,000 | $55,000 | $74,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $40,000 | $40,000 | $40,000 | $16,000 | $16,000 |
| Other | 1 | $220,000 | $220,000 | $220,000 | $46,000 | $46,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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 2009 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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