Cu/America Financial Services Mortgage Lending & HMDA Data, 2007
In 2007, Cu/America Financial Services of Lombard, IL reported 420 mortgage applications totaling $78.5 million, up 29% from 2006. The average application was for $186,826, and applicants reported an average income of $74,190. 37% of its applications resulted in an originated loan and 42% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (321), Gary, IN (10) and Rockford, IL (10) (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 | 420 |
| Total Mortgage Loan Application Amount | $78,467,000 |
| Average Mortgage Loan Application Amount | $186,826 |
| Highest Mortgage Loan Application Amount | $965,000 |
| Average Applicant Income | $74,190 |
| Highest Applicant Income | $1,068,000 |
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records Cu/America Financial Services filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cook, Illinois | 176 | $ 34,427,000 | $ 195,607 | $ 71,000 |
| DuPage, Illinois | 51 | $ 11,099,000 | $ 217,627 | $ 90,000 |
| Kane, Illinois | 41 | $ 7,246,000 | $ 176,731 | $ 60,000 |
| Will, Illinois | 28 | $ 5,087,000 | $ 181,678 | $ 79,000 |
| Kendall, Illinois | 15 | $ 2,936,000 | $ 195,733 | $ 122,000 |
| Winnebago, Illinois | 10 | $ 1,157,000 | $ 115,700 | $ 57,000 |
| Lake, Indiana | 10 | $ 1,517,000 | $ 151,700 | $ 56,000 |
| LaSalle, Illinois | 9 | $ 1,254,000 | $ 139,333 | $ 66,000 |
| Lake, Illinois | 7 | $ 1,794,000 | $ 256,285 | $ 50,000 |
| McHenry, Illinois | 7 | $ 1,383,000 | $ 197,571 | $ 65,000 |
| Champaign, Illinois | 5 | $ 341,000 | $ 68,200 | $ 68,000 |
| Marion, Indiana | 4 | $ 314,000 | $ 78,500 | $ 33,000 |
| Sangamon, Illinois | 3 | $ 347,000 | $ 115,666 | $ 50,000 |
| Maricopa, Arizona | 2 | $ 224,000 | $ 112,000 | $ 72,000 |
| El Paso, Colorado | 2 | $ 556,000 | $ 278,000 | $ 81,000 |
| Broward, Florida | 2 | $ 411,000 | $ 205,500 | $ 81,000 |
| Coles, Illinois | 2 | $ 82,000 | $ 41,000 | $ 52,000 |
| Grundy, Illinois | 2 | $ 398,000 | $ 199,000 | $ 68,000 |
| Vermilion, Illinois | 2 | $ 175,000 | $ 87,500 | $ 56,000 |
| Miami-Dade, Florida | 1 | $ 218,000 | $ 218,000 | $ 221,000 |
| Jackson, Georgia | 1 | $ 90,000 | $ 90,000 | $ 127,000 |
| DeKalb, Illinois | 1 | $ 274,000 | $ 274,000 | $ 115,000 |
| Lee, Illinois | 1 | $ 125,000 | $ 125,000 | $ 52,000 |
| Livingston, Illinois | 1 | $ 99,000 | $ 99,000 | $ 82,000 |
| Mason, Illinois | 1 | $ 62,000 | $ 62,000 | $ 49,000 |
| McLean, Illinois | 1 | $ 160,000 | $ 160,000 | $ 50,000 |
| Rock Island, Illinois | 1 | $ 112,000 | $ 112,000 | $ 56,000 |
| St. Clair, Illinois | 1 | $ 112,000 | $ 112,000 | $ 35,000 |
| Tazewell, Illinois | 1 | $ 277,000 | $ 277,000 | $ 80,000 |
| Wabash, Illinois | 1 | $ 75,000 | $ 75,000 | $ 38,000 |
| Kosciusko, Indiana | 1 | $ 304,000 | $ 304,000 | $ 350,000 |
| Prince George's, Maryland | 1 | $ 159,000 | $ 159,000 | $ 69,000 |
| Dukes, Massachusetts | 1 | $ 430,000 | $ 430,000 | $ 127,000 |
| Hickory, Missouri | 1 | $ 125,000 | $ 125,000 | $ 94,000 |
| Sandoval, New Mexico | 1 | $ 222,000 | $ 222,000 | $ 0 |
| Athens, Ohio | 1 | $ 115,000 | $ 115,000 | $ 75,000 |
| Hamilton, Ohio | 1 | $ 196,000 | $ 196,000 | $ 219,000 |
| Davidson, Tennessee | 1 | $ 175,000 | $ 175,000 | $ 54,000 |
| Decatur, Tennessee | 1 | $ 41,000 | $ 41,000 | $ 39,000 |
| Spokane, Washington | 1 | $ 80,000 | $ 80,000 | $ 72,000 |
| Door, Wisconsin | 1 | $ 80,000 | $ 80,000 | $ 122,000 |
| Juneau, Wisconsin | 1 | $ 310,000 | $ 310,000 | $ 73,000 |
| Milwaukee, Wisconsin | 1 | $ 215,000 | $ 215,000 | $ 89,000 |
| Walworth, Wisconsin | 1 | $ 244,000 | $ 244,000 | $ 122,000 |
Mortgage Loan Application Detail Totals for Cu/America Financial Services 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 | 236 | $47,695,000 | $202,000 | $965,000 | $75,000 | $1,068,000 |
| Home Purchase | 182 | $30,640,000 | $168,000 | $700,000 | $73,000 | $409,000 |
| Home Improvement | 2 | $132,000 | $66,000 | $122,000 | $87,000 | $127,000 |
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 | 257 | $48,774,000 | $189,000 | $965,000 | $78,000 | $1,068,000 |
| Black or African American | 81 | $13,698,000 | $169,000 | $415,000 | $67,000 | $219,000 |
| Hispanic | 62 | $11,697,000 | $188,000 | $440,000 | $61,000 | $152,000 |
| Asian | 12 | $2,797,000 | $233,000 | $450,000 | $82,000 | $350,000 |
| Not Provided | 7 | $1,226,000 | $175,000 | $332,000 | $107,000 | $320,000 |
| American Indian or Alaskan Native | 1 | $275,000 | $275,000 | $275,000 | $110,000 | $110,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 354 | $66,521,000 | $187,000 | $965,000 | $76,000 | $1,068,000 |
| FHA-insured (Federal Housing Administration) | 64 | $11,599,000 | $181,000 | $359,000 | $62,000 | $123,000 |
| VA-guaranteed (Veterans Administration) | 2 | $347,000 | $173,000 | $250,000 | $73,000 | $81,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 175 | $30,827,000 | $176,000 | $665,000 | $58,000 | $320,000 |
| Loan Originated | 155 | $29,798,000 | $192,000 | $900,000 | $93,000 | $1,068,000 |
| Application Approved But Not Accepted | 90 | $17,842,000 | $198,000 | $965,000 | $72,000 | $442,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 43 | $7,233,000 | $168,000 | $665,000 | $65,000 | $320,000 |
| Other | 39 | $6,682,000 | $171,000 | $459,000 | $63,000 | $150,000 |
| Debt-To-Income Ratio | 18 | $3,387,000 | $188,000 | $387,000 | $51,000 | $103,000 |
| Unverifiable Information | 7 | $1,366,000 | $195,000 | $342,000 | $51,000 | $84,000 |
| Collateral | 5 | $842,000 | $168,000 | $246,000 | $76,000 | $107,000 |
| Credit Application Incomplete | 5 | $872,000 | $174,000 | $256,000 | $60,000 | $90,000 |
| Employment History | 1 | $197,000 | $197,000 | $197,000 | $56,000 | $56,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $153,000 | $153,000 | $153,000 | $47,000 | $47,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cu/America Financial Services'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 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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