Verve, A Credit Union Mortgage Lending & HMDA Data, 2004
In 2004, Verve, A Credit Union of Oshkosh, WI reported 783 mortgage applications totaling $59.0 million, down 10% from 2003. The average application was for $75,371, and applicants reported an average income of $53,812. 67% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Oshkosh-Neenah, WI (511), Fond Du Lac, WI (20) and Appleton, WI (19) (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 | 783 |
| Total Mortgage Loan Application Amount | $59,016,000 |
| Average Mortgage Loan Application Amount | $75,371 |
| Highest Mortgage Loan Application Amount | $430,000 |
| Average Applicant Income | $53,812 |
| Highest Applicant Income | $736,000 |
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(HMDA) records Verve, A Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 | 396 | $23,729,000 | $60,000 | $316,000 | $51,333 | $736,000 |
| Home Purchase | 349 | $34,714,000 | $151,800 | $430,000 | $68,000 | $330,000 |
| Home Improvement | 38 | $573,000 | $15,000 | $45,000 | $47,000 | $108,000 |
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 | 755 | $57,035,000 | $129,500 | $430,000 | $63,500 | $330,000 |
| Asian | 12 | $1,029,000 | $104,500 | $316,000 | $77,000 | $736,000 |
| Not Provided | 9 | $412,000 | $47,500 | $90,000 | $41,500 | $71,000 |
| American Indian or Alaskan Native | 3 | $213,000 | $71,000 | $124,000 | $40,000 | $56,000 |
| Hispanic | 3 | $142,000 | $52,500 | $70,000 | $35,500 | $41,000 |
| Black or African American | 1 | $185,000 | $185,000 | $185,000 | $104,000 | $104,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 778 | $58,553,000 | $129,333 | $430,000 | $64,166 | $736,000 |
| VA-guaranteed (Veterans Administration) | 5 | $463,000 | $92,000 | $126,000 | $42,000 | $69,000 |
| 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 | 525 | $37,088,000 | $135,600 | $430,000 | $69,600 | $736,000 |
| Application Withdrawn By Applicant | 107 | $10,390,000 | $91,500 | $270,000 | $52,000 | $108,000 |
| Application Denied By Financial Institution | 74 | $4,289,000 | $62,000 | $189,000 | $40,000 | $156,000 |
| File Closed For Incompleteness | 65 | $6,221,000 | $80,500 | $254,000 | $53,500 | $330,000 |
| Preapproval Denied by Financial Institution | 7 | $599,000 | $85,000 | $111,000 | $30,000 | $63,000 |
| Application Approved But Not Accepted | 5 | $429,000 | $85,000 | $104,000 | $44,000 | $78,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 | 43 | $2,661,000 | $61,000 | $185,000 | $47,500 | $156,000 |
| Debt-To-Income Ratio | 27 | $1,834,000 | $69,000 | $189,000 | $33,000 | $70,000 |
| Collateral | 7 | $216,000 | $30,000 | $73,000 | $49,000 | $96,000 |
| Employment History | 4 | $177,000 | $47,500 | $90,000 | $16,500 | $50,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Verve, A Credit Union'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 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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