Verve, A Credit Union Mortgage Lending & HMDA Data, 2003
In 2003, Verve, A Credit Union of Oshkosh, WI reported 873 mortgage applications totaling $49.9 million. The average application was for $57,128, and applicants reported an average income of $52,903. 63% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Appleton-Oshkosh-Neenah, WI (631), Milwaukee-Waukesha, WI (2) and Sheboygan, WI (2) (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 | 873 |
| Total Mortgage Loan Application Amount | $49,873,000 |
| Average Mortgage Loan Application Amount | $57,128 |
| Highest Mortgage Loan Application Amount | $263,000 |
| Average Applicant Income | $52,903 |
| Highest Applicant Income | $427,000 |
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(HMDA) records Verve, A Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Verve, A Credit Union 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) | 585 | $31,122,000 | $56,000 | $263,000 | $75,333 | $151,000 |
| Home Purchase (one-to-four family) | 174 | $16,371,000 | $93,500 | $262,000 | $63,000 | $427,000 |
| Home Improvement (one-to-four family) | 114 | $2,380,000 | $20,500 | $175,000 | $49,500 | $151,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 778 | $44,646,000 | $60,333 | $262,000 | $72,666 | $151,000 |
| Information not provided by applicant in mail or telephone application | 85 | $4,267,000 | $58,000 | $263,000 | $73,500 | $427,000 |
| Asian or Pacific Islander | 7 | $436,000 | $58,000 | $116,000 | $28,000 | $51,000 |
| Other | 2 | $330,000 | $165,000 | $179,000 | $45,500 | $73,000 |
| Black | 1 | $194,000 | $194,000 | $194,000 | $72,000 | $72,000 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 868 | $49,292,000 | $60,000 | $263,000 | $78,000 | $427,000 |
| VA-guaranteed (Veterans Administration) | 5 | $581,000 | $113,500 | $175,000 | $50,000 | $82,000 |
| 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 |
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 | 553 | $28,391,000 | $43,666 | $262,000 | $90,666 | $151,000 |
| Application Withdrawn By Applicant | 175 | $13,029,000 | $75,500 | $263,000 | $51,500 | $250,000 |
| Application Denied By Financial Institution | 101 | $6,720,000 | $67,000 | $250,000 | $55,000 | $427,000 |
| File Closed For Incompleteness | 29 | $1,166,000 | $39,500 | $157,000 | $55,500 | $102,000 |
| Application Approved But Not Accepted | 15 | $567,000 | $51,000 | $170,000 | $57,000 | $82,000 |
| 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 | 59 | $4,098,000 | $70,000 | $175,000 | $42,000 | $95,000 |
| Debt-To-Income Ratio | 26 | $1,676,000 | $66,000 | $250,000 | $29,500 | $81,000 |
| Other | 7 | $229,000 | $33,500 | $75,000 | $65,500 | $151,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $291,000 | $112,000 | $157,000 | $164,500 | $427,000 |
| Unverifiable Information | 2 | $284,000 | $142,000 | $144,000 | $44,500 | $88,000 |
| Collateral | 2 | $67,000 | $33,500 | $47,000 | $58,500 | $78,000 |
| Employment History | 1 | $60,000 | $60,000 | $60,000 | $24,000 | $24,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Verve, A Credit Union'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 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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