Cornerstone National Bank & Trust Company Mortgage Lending & HMDA Data, 2024
In 2024, Cornerstone National Bank & Trust Company of Palatine, IL reported 123 mortgage applications totaling $44.3 million, up 45% from 2023. The average application was for $360,365, and applicants reported an average income of $319,833. 80% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Chicago-Naperville, IL (70), Lake County-Kenosha County, IL-WI (18) and Elgin, IL (10) (applications in parentheses).
| Mortgage Company & Address | Cornerstone National Bank & Trust Company 1 West Northwest Highway Palatine, IL 60067 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 | 123 |
| Total Mortgage Loan Application Amount | $44,325,000 |
| Average Mortgage Loan Application Amount | $360,365 |
| Highest Mortgage Loan Application Amount | $1,425,000 |
| Average Applicant Income | $319,833 |
| Highest Applicant Income | $3,503,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cornerstone National Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Cornerstone National Bank & Trust Company in 2024
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 | 85 | $30,835,000 | $362,000 | $845,000 | $284,000 | $1,827,000 |
| Refinancing | 21 | $10,705,000 | $509,000 | $1,425,000 | $573,000 | $3,503,000 |
| Cash-out Refinancing | 7 | $1,955,000 | $279,000 | $625,000 | $229,000 | $928,000 |
| Home Improvement | 4 | $550,000 | $137,000 | $285,000 | $79,000 | $79,000 |
| Not Applicable | 3 | $115,000 | $38,000 | $45,000 | $0 | $0 |
| Other Purpose | 3 | $165,000 | $55,000 | $85,000 | $96,000 | $129,000 |
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 | 87 | $31,925,000 | $366,000 | $1,425,000 | $331,000 | $3,503,000 |
| Not applicable | 24 | $9,160,000 | $381,000 | $1,105,000 | $0 | $0 |
| Hispanic | 6 | $1,850,000 | $308,000 | $765,000 | $273,000 | $895,000 |
| Asian | 3 | $805,000 | $268,000 | $355,000 | $431,000 | $748,000 |
| Black or African American | 2 | $390,000 | $195,000 | $195,000 | $83,000 | $83,000 |
| American Indian or Alaskan Native | 1 | $195,000 | $195,000 | $195,000 | $238,000 | $238,000 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian 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) | 123 | $44,325,000 | $360,000 | $1,425,000 | $326,000 | $3,503,000 |
| 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 |
| 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 | 99 | $36,895,000 | $372,000 | $1,425,000 | $348,000 | $3,503,000 |
| Loan Purchased By The Institution | 8 | $850,000 | $106,000 | $195,000 | $0 | $0 |
| Application Withdrawn By Applicant | 6 | $2,720,000 | $453,000 | $725,000 | $202,000 | $315,000 |
| Application Denied By Financial Institution | 5 | $2,035,000 | $407,000 | $1,205,000 | $144,000 | $417,000 |
| Application Approved But Not Accepted | 2 | $980,000 | $490,000 | $765,000 | $479,000 | $895,000 |
| Preapproval Approved but not Accepted | 2 | $620,000 | $310,000 | $355,000 | $213,000 | $312,000 |
| File Closed For Incompleteness | 1 | $225,000 | $225,000 | $225,000 | $83,000 | $83,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 118 | $42,290,000 | $358,000 | $1,425,000 | $335,000 | $3,503,000 |
| Debt-To-Income Ratio | 3 | $1,345,000 | $448,000 | $1,205,000 | $54,000 | $79,000 |
| Other | 1 | $595,000 | $595,000 | $595,000 | $417,000 | $417,000 |
| Credit History | 1 | $95,000 | $95,000 | $95,000 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 Cornerstone National Bank & Trust Company's 2024 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 Cornerstone National Bank & Trust Company'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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