Verve, A Credit Union Mortgage Lending & HMDA Data, 2015
In 2015, Verve, A Credit Union of Oshkosh, WI reported 1,635 mortgage applications totaling $180.9 million, up 49% from 2014. The average application was for $110,657, and applicants reported an average income of $66,998. 59% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Oshkosh-Neenah, WI (606), La Crosse-Onalaska, WI-MN (191) and Fond Du Lac, WI (181) (applications in parentheses).
| Mortgage Company & Address | Verve, A Credit Union 2900 Universal St Oshkosh, WI 54904 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,635 |
| Total Mortgage Loan Application Amount | $180,925,000 |
| Average Mortgage Loan Application Amount | $110,657 |
| Highest Mortgage Loan Application Amount | $708,000 |
| Average Applicant Income | $66,998 |
| Highest Applicant Income | $840,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Verve, A Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Oshkosh-Neenah, WI | 606 | $ 66,000,000 | $ 108,910 | $ 72,000 |
| La Crosse-Onalaska, WI-MN | 191 | $ 21,051,000 | $ 110,214 | $ 77,256 |
| Fond Du Lac, WI | 181 | $ 16,480,000 | $ 91,049 | $ 66,000 |
| Appleton, WI | 158 | $ 19,069,000 | $ 120,689 | $ 67,000 |
| Green Bay, WI | 27 | $ 3,385,000 | $ 125,370 | $ 74,000 |
| Milwaukee-Waukesha-West Allis, WI | 9 | $ 1,563,000 | $ 173,666 | $ 86,000 |
| Madison, WI | 6 | $ 1,241,000 | $ 206,833 | $ 122,000 |
| Duluth, MN-WI | 3 | $ 289,000 | $ 96,333 | $ 58,000 |
| Racine, WI | 2 | $ 396,000 | $ 198,000 | $ 57,000 |
| Wausau, WI | 2 | $ 447,000 | $ 223,500 | $ 145,000 |
| Janesville-Beloit, WI | 1 | $ 260,000 | $ 260,000 | $ 0 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 1 | $ 560,000 | $ 560,000 | $ 236,000 |
| Sheboygan, WI | 1 | $ 180,000 | $ 180,000 | $ 49,000 |
Mortgage Loan Application Detail Totals for Verve, A Credit Union in 2015
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 | 790 | $100,134,000 | $126,000 | $708,000 | $63,000 | $554,000 |
| Refinancing | 734 | $75,317,000 | $102,000 | $700,000 | $71,000 | $840,000 |
| Home Improvement | 111 | $5,474,000 | $49,000 | $185,000 | $69,000 | $194,000 |
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 | 1,311 | $146,320,000 | $111,000 | $560,000 | $72,000 | $840,000 |
| Not Provided | 255 | $25,657,000 | $100,000 | $700,000 | $51,000 | $458,000 |
| Not applicable | 31 | $4,040,000 | $130,000 | $708,000 | $0 | $0 |
| Asian | 16 | $1,724,000 | $107,000 | $167,000 | $54,000 | $97,000 |
| Hispanic | 13 | $1,785,000 | $137,000 | $417,000 | $69,000 | $163,000 |
| Black or African American | 5 | $1,030,000 | $206,000 | $352,000 | $83,000 | $145,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $219,000 | $109,000 | $116,000 | $49,000 | $65,000 |
| American Indian or Alaskan Native | 2 | $150,000 | $75,000 | $120,000 | $55,000 | $75,000 |
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) | 1,631 | $180,526,000 | $110,000 | $708,000 | $67,000 | $840,000 |
| FHA-insured (Federal Housing Administration) | 4 | $399,000 | $99,000 | $117,000 | $24,000 | $62,000 |
| 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 | 965 | $108,234,000 | $112,000 | $708,000 | $76,000 | $840,000 |
| Application Denied By Financial Institution | 230 | $25,439,000 | $110,000 | $560,000 | $58,000 | $450,000 |
| Preapproval Denied by Financial Institution | 151 | $15,601,000 | $103,000 | $320,000 | $41,000 | $159,000 |
| Application Withdrawn By Applicant | 127 | $12,387,000 | $97,000 | $424,000 | $63,000 | $262,000 |
| File Closed For Incompleteness | 87 | $9,586,000 | $110,000 | $343,000 | $38,000 | $504,000 |
| Application Approved But Not Accepted | 48 | $5,552,000 | $115,000 | $350,000 | $74,000 | $238,000 |
| Preapproval Approved but not Accepted | 27 | $4,126,000 | $152,000 | $340,000 | $55,000 | $141,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 115 | $13,260,000 | $115,000 | $437,000 | $46,000 | $163,000 |
| Credit History | 102 | $9,234,000 | $90,000 | $282,000 | $45,000 | $163,000 |
| Credit Application Incomplete | 89 | $9,516,000 | $106,000 | $321,000 | $56,000 | $450,000 |
| Collateral | 24 | $3,750,000 | $156,000 | $560,000 | $88,000 | $236,000 |
| Other | 13 | $1,049,000 | $80,000 | $140,000 | $38,000 | $89,000 |
| Unverifiable Information | 9 | $1,147,000 | $127,000 | $227,000 | $82,000 | $156,000 |
| Mortgage Insurance Denied | 8 | $896,000 | $112,000 | $157,000 | $50,000 | $90,000 |
| Employment History | 8 | $888,000 | $111,000 | $195,000 | $30,000 | $55,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $576,000 | $115,000 | $225,000 | $66,000 | $131,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Verve, A Credit Union's 2015 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 Verve, A Credit Union'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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