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records Cu/America Financial Services filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| 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 | 321 | $ 62,850,000 | $ 195,794 | $ 76,000 |
| Gary, IN | 10 | $ 1,517,000 | $ 151,700 | $ 56,000 |
| Rockford, IL | 10 | $ 1,157,000 | $ 115,700 | $ 57,000 |
| Lake County-Kenosha County, IL-WI | 7 | $ 1,794,000 | $ 256,285 | $ 50,000 |
| Champaign-Urbana, IL | 5 | $ 341,000 | $ 68,200 | $ 68,000 |
| Indianapolis-Carmel, IN | 4 | $ 314,000 | $ 78,500 | $ 33,000 |
| Springfield, IL | 3 | $ 347,000 | $ 115,666 | $ 50,000 |
| Colorado Springs, CO | 2 | $ 556,000 | $ 278,000 | $ 81,000 |
| Danville, IL | 2 | $ 175,000 | $ 87,500 | $ 56,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 2 | $ 411,000 | $ 205,500 | $ 81,000 |
| Phoenix-Mesa-Scottsdale, AZ | 2 | $ 224,000 | $ 112,000 | $ 72,000 |
| Albuquerque, NM | 1 | $ 222,000 | $ 222,000 | $ 0 |
| Bloomington-Normal, IL | 1 | $ 160,000 | $ 160,000 | $ 50,000 |
| Cincinnati-Middletown, OH-KY-IN | 1 | $ 196,000 | $ 196,000 | $ 219,000 |
| Davenport-Moline-Rock Island, IA-IL | 1 | $ 112,000 | $ 112,000 | $ 56,000 |
| Miami-Miami Beach-Kendall, FL | 1 | $ 218,000 | $ 218,000 | $ 221,000 |
| Milwaukee-Waukesha-West Allis, WI | 1 | $ 215,000 | $ 215,000 | $ 89,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 1 | $ 175,000 | $ 175,000 | $ 54,000 |
| Peoria, IL | 1 | $ 277,000 | $ 277,000 | $ 80,000 |
| Spokane, WA | 1 | $ 80,000 | $ 80,000 | $ 72,000 |
| St. Louis, MO-IL | 1 | $ 112,000 | $ 112,000 | $ 35,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 1 | $ 159,000 | $ 159,000 | $ 69,000 |
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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