Chesterfield Federal S&L Mortgage Lending & HMDA Data, 2003
In 2003, Chesterfield Federal S&L of Chicago, IL reported 391 mortgage applications totaling $48.3 million. The average application was for $123,580, and applicants reported an average income of $78,069. 92% of its applications resulted in an originated loan and 2% were denied. Its largest market was Chicago, IL (391).
| Mortgage Company & Address | Chesterfield Federal S&L 10801 S. Western Ave. Chicago, IL 60643 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 391 |
| Total Mortgage Loan Application Amount | $48,320,000 |
| Average Mortgage Loan Application Amount | $123,580 |
| Highest Mortgage Loan Application Amount | $400,000 |
| Average Applicant Income | $78,069 |
| Highest Applicant Income | $462,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Chesterfield Federal S&L filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Chesterfield Federal S&L 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 |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 331 | $39,178,000 | $118,000 | $322,000 | $76,000 | $396,000 |
| Home Purchase (one-to-four family) | 59 | $8,742,000 | $148,000 | $280,000 | $91,000 | $462,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 1 | $400,000 | $400,000 | $400,000 | $0 | $0 |
| Home Improvement (one-to-four family) | 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 | 340 | $42,588,000 | $125,000 | $400,000 | $79,000 | $462,000 |
| Black | 33 | $3,566,000 | $108,000 | $280,000 | $63,000 | $157,000 |
| Hispanic | 6 | $736,000 | $122,000 | $196,000 | $97,000 | $124,000 |
| American Indian or Alaskan Native | 5 | $729,000 | $145,000 | $233,000 | $96,000 | $128,000 |
| Asian or Pacific Islander | 4 | $411,000 | $102,000 | $131,000 | $66,000 | $69,000 |
| Information not provided by applicant in mail or telephone application | 2 | $140,000 | $70,000 | $100,000 | $79,000 | $128,000 |
| Other | 1 | $150,000 | $150,000 | $150,000 | $85,000 | $85,000 |
| 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) | 391 | $48,320,000 | $123,000 | $400,000 | $78,000 | $462,000 |
| 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 | 359 | $43,733,000 | $121,000 | $322,000 | $94,000 | $462,000 |
| Application Withdrawn By Applicant | 23 | $3,200,000 | $139,000 | $400,000 | $61,000 | $128,000 |
| Application Denied By Financial Institution | 8 | $1,191,000 | $148,000 | $280,000 | $61,000 | $128,000 |
| File Closed For Incompleteness | 1 | $196,000 | $196,000 | $196,000 | $116,000 | $116,000 |
| Application Approved But Not Accepted | 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 | 3 | $385,000 | $128,000 | $280,000 | $60,000 | $83,000 |
| Other | 3 | $583,000 | $194,000 | $233,000 | $87,000 | $128,000 |
| Unverifiable Information | 1 | $69,000 | $69,000 | $69,000 | $31,000 | $31,000 |
| Debt-To-Income Ratio | 1 | $154,000 | $154,000 | $154,000 | $16,000 | $16,000 |
| 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Chesterfield Federal S&L'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 Chesterfield Federal S&L'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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