Columbia Mortgage & Funding Co Mortgage Lending & HMDA Data, 2008
In 2008, Columbia Mortgage & Funding Co of Chicago, IL reported 736 mortgage applications totaling $115.7 million, down 14% from 2007. The average application was for $157,154, and applicants reported an average income of $44,000. 39% of its applications resulted in an originated loan and 49% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (660), Gary, IN (38) and Lake County-Kenosha County, IL-WI (28) (applications in parentheses).
| Mortgage Company & Address | Columbia Mortgage & Funding Co 3445 N. Central Ave. Chicago, IL 60634 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 736 |
| Total Mortgage Loan Application Amount | $115,666,000 |
| Average Mortgage Loan Application Amount | $157,154 |
| Highest Mortgage Loan Application Amount | $528,000 |
| Average Applicant Income | $44,000 |
| Highest Applicant Income | $161,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Columbia Mortgage & Funding Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Columbia Mortgage & Funding Co in 2008
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 | 736 | $115,666,000 | $157,000 | $528,000 | $44,000 | $161,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Purchase | 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 |
|---|---|---|---|---|---|---|
| Hispanic | 500 | $83,995,000 | $167,000 | $528,000 | $46,000 | $161,000 |
| Black or African American | 217 | $29,425,000 | $135,000 | $311,000 | $39,000 | $156,000 |
| American Indian or Alaskan Native | 9 | $985,000 | $109,000 | $260,000 | $37,000 | $100,000 |
| White | 7 | $859,000 | $122,000 | $209,000 | $36,000 | $54,000 |
| Not Provided | 1 | $132,000 | $132,000 | $132,000 | $38,000 | $38,000 |
| Asian | 1 | $152,000 | $152,000 | $152,000 | $33,000 | $33,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $118,000 | $118,000 | $118,000 | $30,000 | $30,000 |
| 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) | 571 | $86,652,000 | $151,000 | $528,000 | $42,000 | $161,000 |
| FHA-insured (Federal Housing Administration) | 165 | $29,014,000 | $175,000 | $380,000 | $48,000 | $108,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 358 | $60,442,000 | $168,000 | $528,000 | $45,000 | $161,000 |
| Loan Originated | 286 | $40,978,000 | $143,000 | $380,000 | $42,000 | $138,000 |
| Application Withdrawn By Applicant | 85 | $13,280,000 | $156,000 | $399,000 | $46,000 | $105,000 |
| Application Approved But Not Accepted | 7 | $966,000 | $138,000 | $188,000 | $40,000 | $66,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial 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 |
|---|---|---|---|---|---|---|
| Collateral | 176 | $32,601,000 | $185,000 | $435,000 | $50,000 | $161,000 |
| Debt-To-Income Ratio | 103 | $16,742,000 | $162,000 | $528,000 | $38,000 | $84,000 |
| Credit History | 43 | $5,669,000 | $131,000 | $299,000 | $42,000 | $155,000 |
| Other | 16 | $2,558,000 | $159,000 | $283,000 | $43,000 | $72,000 |
| Unverifiable Information | 8 | $1,208,000 | $151,000 | $233,000 | $37,000 | $70,000 |
| Employment History | 6 | $783,000 | $130,000 | $349,000 | $44,000 | $92,000 |
| Credit Application Incomplete | 1 | $110,000 | $110,000 | $110,000 | $30,000 | $30,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Columbia Mortgage & Funding Co's 2008 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 Columbia Mortgage & Funding Co'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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