Cole Taylor Bank Mortgage Lending & HMDA Data, 2014
In 2014, Cole Taylor Bank of Rosemont, IL reported 19,421 mortgage applications totaling $4.5 billion, down 47% from 2013. The average application was for $233,497, and applicants reported an average income of $108,888. 70% of its applications resulted in an originated loan and 17% were denied. Its largest markets were New York-Jersey City-White Plains, NY-NJ (1,306), Atlanta-Sandy Springs-Roswell, GA (1,006) and Chicago-Naperville-Arlington Heights, IL (767) (applications in parentheses).
| Mortgage Company & Address | Cole Taylor Bank 9550 W Higgins Raod Rosemont, IL 60018 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 19,421 |
| Total Mortgage Loan Application Amount | $4,534,761,000 |
| Average Mortgage Loan Application Amount | $233,497 |
| Highest Mortgage Loan Application Amount | $2,219,000 |
| Average Applicant Income | $108,888 |
| Highest Applicant Income | $3,730,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cole Taylor Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Cole Taylor Bank in 2014
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 | 12,672 | $2,839,816,000 | $224,000 | $1,920,000 | $104,000 | $2,917,000 |
| Refinancing | 6,523 | $1,632,174,000 | $250,000 | $2,219,000 | $118,000 | $3,730,000 |
| Home Improvement | 226 | $62,771,000 | $277,000 | $1,500,000 | $120,000 | $1,434,000 |
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 | 13,575 | $3,097,431,000 | $228,000 | $2,000,000 | $110,000 | $3,730,000 |
| Asian | 2,347 | $664,635,000 | $283,000 | $1,500,000 | $124,000 | $2,180,000 |
| Not Provided | 1,556 | $367,575,000 | $236,000 | $2,200,000 | $110,000 | $1,358,000 |
| Hispanic | 1,061 | $226,161,000 | $213,000 | $900,000 | $82,000 | $1,309,000 |
| Black or African American | 795 | $144,929,000 | $182,000 | $975,000 | $77,000 | $911,000 |
| Native Hawaiian or Other Pacific Islander | 38 | $8,537,000 | $224,000 | $920,000 | $108,000 | $218,000 |
| American Indian or Alaskan Native | 31 | $6,169,000 | $199,000 | $626,000 | $126,000 | $770,000 |
| Not applicable | 18 | $19,324,000 | $1,073,000 | $2,219,000 | $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) | 14,759 | $3,785,381,000 | $256,000 | $2,219,000 | $125,000 | $3,730,000 |
| FHA-insured (Federal Housing Administration) | 3,821 | $619,013,000 | $162,000 | $984,000 | $57,000 | $448,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 536 | $72,469,000 | $135,000 | $408,000 | $47,000 | $104,000 |
| VA-guaranteed (Veterans Administration) | 305 | $57,898,000 | $189,000 | $975,000 | $62,000 | $238,000 |
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 | 13,609 | $3,182,368,000 | $233,000 | $2,219,000 | $111,000 | $3,559,000 |
| Application Denied By Financial Institution | 3,215 | $752,746,000 | $234,000 | $2,200,000 | $100,000 | $2,917,000 |
| File Closed For Incompleteness | 1,972 | $447,583,000 | $226,000 | $2,000,000 | $113,000 | $3,730,000 |
| Preapproval Denied by Financial Institution | 269 | $75,973,000 | $282,000 | $1,645,000 | $93,000 | $2,221,000 |
| Application Approved But Not Accepted | 233 | $54,779,000 | $235,000 | $691,000 | $121,000 | $1,067,000 |
| Application Withdrawn By Applicant | 109 | $17,542,000 | $160,000 | $570,000 | $84,000 | $380,000 |
| Preapproval Approved but not Accepted | 14 | $3,770,000 | $269,000 | $626,000 | $112,000 | $420,000 |
| 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 | 1,085 | $276,454,000 | $254,000 | $1,750,000 | $70,000 | $680,000 |
| Collateral | 743 | $176,610,000 | $237,000 | $2,000,000 | $118,000 | $927,000 |
| Credit History | 512 | $102,320,000 | $199,000 | $1,650,000 | $83,000 | $1,222,000 |
| Other | 423 | $102,957,000 | $243,000 | $2,200,000 | $163,000 | $2,917,000 |
| Unverifiable Information | 299 | $70,600,000 | $236,000 | $1,470,000 | $105,000 | $2,209,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 194 | $46,421,000 | $239,000 | $1,083,000 | $99,000 | $789,000 |
| Credit Application Incomplete | 153 | $37,899,000 | $247,000 | $975,000 | $99,000 | $643,000 |
| Employment History | 65 | $13,051,000 | $200,000 | $900,000 | $49,000 | $163,000 |
| Mortgage Insurance Denied | 10 | $2,407,000 | $240,000 | $384,000 | $79,000 | $129,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cole Taylor Bank's 2014 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 Cole Taylor Bank'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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