Verve, A Credit Union Mortgage Lending & HMDA Data, 2016
In 2016, Verve, A Credit Union of Oshkosh, WI reported 1,494 mortgage applications totaling $188.4 million, down 9% from 2015. The average application was for $126,092, and applicants reported an average income of $74,516. 65% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Oshkosh-Neenah, WI (574), Fond Du Lac, WI (201) and Appleton, WI (200) (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 | 1,494 |
| Total Mortgage Loan Application Amount | $188,382,000 |
| Average Mortgage Loan Application Amount | $126,092 |
| Highest Mortgage Loan Application Amount | $3,850,000 |
| Average Applicant Income | $74,516 |
| Highest Applicant Income | $1,380,000 |
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(HMDA) records Verve, A Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2016
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 | 693 | $95,811,000 | $138,000 | $1,104,000 | $70,000 | $1,380,000 |
| Refinancing | 688 | $88,057,000 | $127,000 | $3,850,000 | $78,000 | $554,000 |
| Home Improvement | 113 | $4,514,000 | $39,000 | $210,000 | $81,000 | $277,000 |
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 | 1,178 | $144,078,000 | $122,000 | $1,100,000 | $74,000 | $554,000 |
| Not Provided | 235 | $24,820,000 | $105,000 | $446,000 | $81,000 | $538,000 |
| Not applicable | 44 | $15,838,000 | $359,000 | $3,850,000 | $34,000 | $1,380,000 |
| Asian | 18 | $2,009,000 | $111,000 | $238,000 | $60,000 | $114,000 |
| Hispanic | 9 | $801,000 | $89,000 | $169,000 | $83,000 | $274,000 |
| Black or African American | 8 | $692,000 | $86,000 | $144,000 | $59,000 | $127,000 |
| American Indian or Alaskan Native | 2 | $144,000 | $72,000 | $73,000 | $102,000 | $166,000 |
| Native Hawaiin or Other Pacific Islander | 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) | 1,482 | $187,142,000 | $126,000 | $3,850,000 | $74,000 | $1,380,000 |
| FHA-insured (Federal Housing Administration) | 12 | $1,240,000 | $103,000 | $163,000 | $49,000 | $154,000 |
| 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 | 969 | $129,444,000 | $133,000 | $3,850,000 | $79,000 | $1,380,000 |
| Application Denied By Financial Institution | 193 | $20,199,000 | $104,000 | $413,000 | $66,000 | $335,000 |
| Preapproval Denied by Financial Institution | 135 | $14,569,000 | $107,000 | $257,000 | $48,000 | $169,000 |
| Application Withdrawn By Applicant | 97 | $11,496,000 | $118,000 | $400,000 | $81,000 | $193,000 |
| Application Approved But Not Accepted | 61 | $7,913,000 | $129,000 | $445,000 | $79,000 | $229,000 |
| File Closed For Incompleteness | 22 | $2,268,000 | $103,000 | $375,000 | $51,000 | $120,000 |
| Preapproval Approved but not Accepted | 17 | $2,493,000 | $146,000 | $340,000 | $68,000 | $273,000 |
| 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 | 112 | $12,007,000 | $107,000 | $352,000 | $41,000 | $169,000 |
| Credit History | 80 | $7,572,000 | $94,000 | $315,000 | $63,000 | $335,000 |
| Credit Application Incomplete | 79 | $8,823,000 | $111,000 | $350,000 | $72,000 | $200,000 |
| Collateral | 26 | $2,874,000 | $110,000 | $304,000 | $84,000 | $277,000 |
| Other | 15 | $1,641,000 | $109,000 | $413,000 | $55,000 | $134,000 |
| Employment History | 7 | $754,000 | $107,000 | $199,000 | $46,000 | $86,000 |
| Unverifiable Information | 4 | $707,000 | $176,000 | $229,000 | $95,000 | $183,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $208,000 | $69,000 | $73,000 | $44,000 | $69,000 |
| Mortgage Insurance Denied | 1 | $78,000 | $78,000 | $78,000 | $28,000 | $28,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Verve, A Credit Union's 2016 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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