Columbia Mortgage & Funding Co Mortgage Lending & HMDA Data, 2007
In 2007, Columbia Mortgage & Funding Co of Chicago, IL reported 857 mortgage applications totaling $138.4 million, up 6% from 2006. The average application was for $161,523, and applicants reported an average income of $34,110. 44% of its applications resulted in an originated loan and 46% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (763), Gary, IN (52) and Lake County-Kenosha County, IL-WI (26) (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 | 857 |
| Total Mortgage Loan Application Amount | $138,426,000 |
| Average Mortgage Loan Application Amount | $161,523 |
| Highest Mortgage Loan Application Amount | $525,000 |
| Average Applicant Income | $34,110 |
| Highest Applicant Income | $281,000 |
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records Columbia Mortgage & Funding Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2007
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 | 852 | $137,429,000 | $161,000 | $525,000 | $34,000 | $281,000 |
| Home Purchase | 5 | $997,000 | $199,000 | $328,000 | $53,000 | $192,000 |
| Home Improvement | 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 | 497 | $87,258,000 | $175,000 | $525,000 | $32,000 | $125,000 |
| Black or African American | 316 | $43,448,000 | $137,000 | $414,000 | $34,000 | $105,000 |
| White | 24 | $3,677,000 | $153,000 | $338,000 | $57,000 | $192,000 |
| American Indian or Alaskan Native | 13 | $2,582,000 | $198,000 | $335,000 | $45,000 | $96,000 |
| Asian | 3 | $773,000 | $257,000 | $320,000 | $69,000 | $86,000 |
| Not Provided | 3 | $432,000 | $144,000 | $200,000 | $103,000 | $281,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $256,000 | $256,000 | $256,000 | $38,000 | $38,000 |
| 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) | 856 | $138,013,000 | $161,000 | $525,000 | $34,000 | $281,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $413,000 | $413,000 | $413,000 | $68,000 | $68,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 393 | $69,642,000 | $177,000 | $525,000 | $36,000 | $106,000 |
| Loan Originated | 374 | $53,381,000 | $142,000 | $426,000 | $32,000 | $192,000 |
| Application Withdrawn By Applicant | 54 | $9,401,000 | $174,000 | $410,000 | $31,000 | $105,000 |
| Application Approved But Not Accepted | 36 | $6,002,000 | $166,000 | $293,000 | $37,000 | $281,000 |
| 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 | 8 | $1,412,000 | $176,000 | $304,000 | $35,000 | $90,000 |
| Debt-To-Income Ratio | 4 | $965,000 | $241,000 | $378,000 | $32,000 | $41,000 |
| Other | 3 | $608,000 | $202,000 | $291,000 | $8,000 | $26,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 2007 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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