Cu/America Financial Services Mortgage Lending & HMDA Data, 2006
In 2006, Cu/America Financial Services of Lombard, IL reported 326 mortgage applications totaling $60.2 million. The average application was for $184,653, and applicants reported an average income of $69,141. 39% of its applications resulted in an originated loan and 28% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (245), Lake County-Kenosha County, IL-WI (10) and Gary, IN (6) (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 | 326 |
| Total Mortgage Loan Application Amount | $60,197,000 |
| Average Mortgage Loan Application Amount | $184,653 |
| Highest Mortgage Loan Application Amount | $572,000 |
| Average Applicant Income | $69,141 |
| Highest Applicant Income | $440,000 |
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records Cu/America Financial Services filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Chicago-Naperville-Joliet, IL | 245 | $ 47,212,000 | $ 192,702 | $ 68,000 |
| Lake County-Kenosha County, IL-WI | 10 | $ 2,411,000 | $ 241,100 | $ 82,000 |
| Gary, IN | 6 | $ 430,000 | $ 71,666 | $ 87,000 |
| Rockford, IL | 6 | $ 629,000 | $ 104,833 | $ 31,000 |
| Indianapolis-Carmel, IN | 3 | $ 388,000 | $ 129,333 | $ 73,000 |
| Peoria, IL | 3 | $ 497,000 | $ 165,666 | $ 84,000 |
| Bloomington-Normal, IL | 2 | $ 168,000 | $ 84,000 | $ 61,000 |
| Madison, WI | 2 | $ 252,000 | $ 126,000 | $ 58,000 |
| Phoenix-Mesa-Scottsdale, AZ | 2 | $ 384,000 | $ 192,000 | $ 59,000 |
| Springfield, IL | 2 | $ 305,000 | $ 152,500 | $ 86,000 |
| St. Louis, MO-IL | 2 | $ 286,000 | $ 143,000 | $ 64,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 2 | $ 564,000 | $ 282,000 | $ 89,000 |
| Bethesda-Gaithersburg-Frederick, MD | 1 | $ 348,000 | $ 348,000 | $ 112,000 |
| Champaign-Urbana, IL | 1 | $ 121,000 | $ 121,000 | $ 43,000 |
| Decatur, IL | 1 | $ 32,000 | $ 32,000 | $ 46,000 |
| Eau Claire, WI | 1 | $ 361,000 | $ 361,000 | $ 440,000 |
| Jackson, MS | 1 | $ 32,000 | $ 32,000 | $ 65,000 |
| Knoxville, TN | 1 | $ 169,000 | $ 169,000 | $ 31,000 |
| Memphis, TN-MS-AR | 1 | $ 154,000 | $ 154,000 | $ 34,000 |
| Michigan City-La Porte, IN | 1 | $ 80,000 | $ 80,000 | $ 101,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 1 | $ 300,000 | $ 300,000 | $ 237,000 |
| Racine, WI | 1 | $ 161,000 | $ 161,000 | $ 43,000 |
Mortgage Loan Application Detail Totals for Cu/America Financial Services in 2006
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 | 169 | $32,909,000 | $194,000 | $572,000 | $68,000 | $215,000 |
| Home Purchase | 155 | $26,846,000 | $173,000 | $505,000 | $70,000 | $440,000 |
| Home Improvement | 2 | $442,000 | $221,000 | $222,000 | $99,000 | $120,000 |
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 | 182 | $32,861,000 | $180,000 | $572,000 | $74,000 | $237,000 |
| Black or African American | 67 | $12,041,000 | $179,000 | $553,000 | $65,000 | $440,000 |
| Hispanic | 62 | $12,582,000 | $202,000 | $525,000 | $61,000 | $216,000 |
| Asian | 7 | $1,898,000 | $271,000 | $506,000 | $87,000 | $200,000 |
| American Indian or Alaskan Native | 6 | $425,000 | $70,000 | $128,000 | $65,000 | $110,000 |
| Not Provided | 1 | $215,000 | $215,000 | $215,000 | $26,000 | $26,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $175,000 | $175,000 | $175,000 | $46,000 | $46,000 |
| 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) | 268 | $50,741,000 | $189,000 | $572,000 | $70,000 | $440,000 |
| FHA-insured (Federal Housing Administration) | 56 | $8,998,000 | $160,000 | $309,000 | $63,000 | $126,000 |
| VA-guaranteed (Veterans Administration) | 2 | $458,000 | $229,000 | $279,000 | $84,000 | $117,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 127 | $23,392,000 | $184,000 | $572,000 | $81,000 | $237,000 |
| Application Approved But Not Accepted | 109 | $19,513,000 | $179,000 | $506,000 | $63,000 | $215,000 |
| Application Denied By Financial Institution | 90 | $17,292,000 | $192,000 | $553,000 | $61,000 | $440,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 31 | $5,977,000 | $192,000 | $553,000 | $76,000 | $440,000 |
| Credit History | 17 | $3,768,000 | $221,000 | $505,000 | $58,000 | $136,000 |
| Debt-To-Income Ratio | 12 | $2,178,000 | $181,000 | $320,000 | $47,000 | $118,000 |
| Collateral | 4 | $597,000 | $149,000 | $335,000 | $74,000 | $99,000 |
| Credit Application Incomplete | 2 | $356,000 | $178,000 | $250,000 | $17,000 | $34,000 |
| Employment History | 1 | $20,000 | $20,000 | $20,000 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $145,000 | $145,000 | $145,000 | $35,000 | $35,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cu/America Financial Services's 2006 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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