Cu/America Financial Services Mortgage Lending & HMDA Data, 2009
In 2009, Cu/America Financial Services of Lombard, IL reported 754 mortgage applications totaling $135.3 million, up 346% from 2008. The average application was for $179,444, and applicants reported an average income of $84,907. 62% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (618), Lake County-Kenosha County, IL-WI (31) and St. Louis, MO-IL (16) (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 | 754 |
| Total Mortgage Loan Application Amount | $135,301,000 |
| Average Mortgage Loan Application Amount | $179,444 |
| Highest Mortgage Loan Application Amount | $999,000 |
| Average Applicant Income | $84,907 |
| Highest Applicant Income | $1,149,000 |
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records Cu/America Financial Services filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 618 | $ 114,669,000 | $ 185,548 | $ 85,000 |
| Lake County-Kenosha County, IL-WI | 31 | $ 5,721,000 | $ 184,548 | $ 87,774 |
| St. Louis, MO-IL | 16 | $ 1,696,000 | $ 106,000 | $ 71,250 |
| Gary, IN | 13 | $ 1,903,000 | $ 146,384 | $ 71,000 |
| Rockford, IL | 11 | $ 1,383,000 | $ 125,727 | $ 68,000 |
| Springfield, IL | 8 | $ 1,275,000 | $ 159,375 | $ 94,000 |
| Indianapolis-Carmel, IN | 7 | $ 686,000 | $ 98,000 | $ 66,000 |
| Champaign-Urbana, IL | 5 | $ 571,000 | $ 114,200 | $ 114,000 |
| Kankakee-Bradley, IL | 3 | $ 486,000 | $ 162,000 | $ 67,000 |
| Asheville, NC | 1 | $ 403,000 | $ 403,000 | $ 228,000 |
| Bradenton-Sarasota-Venice, FL | 1 | $ 145,000 | $ 145,000 | $ 239,000 |
| Danville, IL | 1 | $ 125,000 | $ 125,000 | $ 67,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 1 | $ 315,000 | $ 315,000 | $ 67,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 1 | $ 103,000 | $ 103,000 | $ 46,000 |
| Holland-Grand Haven, MI | 1 | $ 219,000 | $ 219,000 | $ 83,000 |
| Kalamazoo-Portage, MI | 1 | $ 158,000 | $ 158,000 | $ 65,000 |
| Las Vegas-Paradise, NV | 1 | $ 169,000 | $ 169,000 | $ 62,000 |
| Michigan City-La Porte, IN | 1 | $ 148,000 | $ 148,000 | $ 60,000 |
| Milwaukee-Waukesha-West Allis, WI | 1 | $ 142,000 | $ 142,000 | $ 42,000 |
| Niles-Benton Harbor, MI | 1 | $ 100,000 | $ 100,000 | $ 119,000 |
| Peoria, IL | 1 | $ 268,000 | $ 268,000 | $ 140,000 |
| Philadelphia, PA | 1 | $ 61,000 | $ 61,000 | $ 18,000 |
| South Bend-Mishawaka, IN-MI | 1 | $ 104,000 | $ 104,000 | $ 31,000 |
Mortgage Loan Application Detail Totals for Cu/America Financial Services in 2009
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 | 498 | $92,412,000 | $185,000 | $999,000 | $90,000 | $1,149,000 |
| Home Purchase | 256 | $42,889,000 | $167,000 | $630,000 | $75,000 | $763,000 |
| 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 | 512 | $94,478,000 | $184,000 | $999,000 | $90,000 | $1,149,000 |
| Hispanic | 92 | $16,400,000 | $178,000 | $710,000 | $59,000 | $249,000 |
| Black or African American | 64 | $10,023,000 | $156,000 | $399,000 | $71,000 | $149,000 |
| Not Provided | 62 | $9,601,000 | $154,000 | $800,000 | $90,000 | $209,000 |
| Asian | 23 | $4,712,000 | $204,000 | $417,000 | $97,000 | $310,000 |
| American Indian or Alaskan Native | 1 | $87,000 | $87,000 | $87,000 | $63,000 | $63,000 |
| 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) | 567 | $104,268,000 | $183,000 | $999,000 | $92,000 | $1,149,000 |
| FHA-insured (Federal Housing Administration) | 181 | $30,118,000 | $166,000 | $414,000 | $61,000 | $150,000 |
| VA-guaranteed (Veterans Administration) | 6 | $915,000 | $152,000 | $191,000 | $70,000 | $95,000 |
| 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 | 464 | $83,754,000 | $180,000 | $710,000 | $89,000 | $763,000 |
| Application Denied By Financial Institution | 143 | $26,126,000 | $182,000 | $999,000 | $75,000 | $275,000 |
| Application Withdrawn By Applicant | 137 | $23,396,000 | $170,000 | $800,000 | $82,000 | $1,149,000 |
| Application Approved But Not Accepted | 6 | $1,197,000 | $199,000 | $417,000 | $75,000 | $148,000 |
| File Closed For Incompleteness | 4 | $828,000 | $207,000 | $260,000 | $55,000 | $70,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 58 | $12,220,000 | $210,000 | $999,000 | $87,000 | $275,000 |
| Credit History | 20 | $2,887,000 | $144,000 | $311,000 | $72,000 | $168,000 |
| Collateral | 16 | $2,431,000 | $151,000 | $295,000 | $62,000 | $131,000 |
| Debt-To-Income Ratio | 8 | $1,404,000 | $175,000 | $370,000 | $60,000 | $102,000 |
| Employment History | 2 | $344,000 | $172,000 | $180,000 | $61,000 | $80,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $214,000 | $107,000 | $138,000 | $72,000 | $83,000 |
| Unverifiable Information | 2 | $270,000 | $135,000 | $150,000 | $53,000 | $77,000 |
| Mortgage Insurance Denied | 1 | $30,000 | $30,000 | $30,000 | $183,000 | $183,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Cu/America Financial Services's 2009 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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