Cu/America Financial Services Mortgage Lending & HMDA Data, 2010
In 2010, Cu/America Financial Services of Lombard, IL reported 666 mortgage applications totaling $123.7 million, down 12% from 2009. The average application was for $185,744, and applicants reported an average income of $93,536. 62% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Chicago-Joliet-Naperville, IL (524), St. Louis, MO-IL (47) and Lake County-Kenosha County, IL-WI (32) (applications in parentheses).
| Mortgage Company & Address | Cu/America Financial Services 450 E 22nd Street Lombard, IL 60148 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 |
| Total Number of Mortgage Applications | 666 |
| Total Mortgage Loan Application Amount | $123,706,000 |
| Average Mortgage Loan Application Amount | $185,744 |
| Highest Mortgage Loan Application Amount | $670,000 |
| Average Applicant Income | $93,536 |
| Highest Applicant Income | $1,231,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cu/America Financial Services filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Cu/America Financial Services in 2010
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 | 547 | $100,312,000 | $183,000 | $670,000 | $93,000 | $1,231,000 |
| Refinancing | 119 | $23,394,000 | $196,000 | $489,000 | $96,000 | $253,000 |
| 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 |
|---|---|---|---|---|---|---|
| White | 444 | $85,010,000 | $191,000 | $670,000 | $95,000 | $493,000 |
| Hispanic | 79 | $12,292,000 | $155,000 | $660,000 | $62,000 | $181,000 |
| Not Provided | 72 | $12,833,000 | $178,000 | $403,000 | $93,000 | $1,021,000 |
| Black or African American | 53 | $9,771,000 | $184,000 | $378,000 | $119,000 | $1,231,000 |
| Asian | 14 | $2,933,000 | $209,000 | $405,000 | $114,000 | $488,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $707,000 | $235,000 | $367,000 | $109,000 | $161,000 |
| American Indian or Alaskan Native | 1 | $160,000 | $160,000 | $160,000 | $108,000 | $108,000 |
| 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) | 509 | $93,544,000 | $183,000 | $670,000 | $100,000 | $1,231,000 |
| FHA-insured (Federal Housing Administration) | 153 | $29,730,000 | $194,000 | $568,000 | $73,000 | $177,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $155,000 | $77,000 | $80,000 | $45,000 | $53,000 |
| VA-guaranteed (Veterans Administration) | 2 | $277,000 | $138,000 | $152,000 | $58,000 | $74,000 |
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 | 410 | $77,827,000 | $189,000 | $670,000 | $96,000 | $493,000 |
| Application Withdrawn By Applicant | 135 | $24,647,000 | $182,000 | $665,000 | $102,000 | $1,231,000 |
| Application Denied By Financial Institution | 114 | $19,902,000 | $174,000 | $660,000 | $76,000 | $302,000 |
| File Closed For Incompleteness | 4 | $707,000 | $176,000 | $238,000 | $87,000 | $129,000 |
| Application Approved But Not Accepted | 3 | $623,000 | $207,000 | $386,000 | $92,000 | $117,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 45 | $7,941,000 | $176,000 | $660,000 | $65,000 | $181,000 |
| Collateral | 20 | $3,725,000 | $186,000 | $393,000 | $100,000 | $302,000 |
| Other | 17 | $2,412,000 | $141,000 | $322,000 | $81,000 | $165,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 7 | $1,111,000 | $158,000 | $294,000 | $54,000 | $90,000 |
| Debt-To-Income Ratio | 3 | $347,000 | $115,000 | $207,000 | $44,000 | $60,000 |
| Employment History | 2 | $488,000 | $244,000 | $340,000 | $51,000 | $63,000 |
| Mortgage Insurance Denied | 1 | $288,000 | $288,000 | $288,000 | $97,000 | $97,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cu/America Financial Services's 2010 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 Cu/America Financial Services'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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