CU Channels Mortgage Lending & HMDA Data, 2011
In 2011, CU Channels of West Lafayette, IN reported 314 mortgage applications totaling $31.6 million, down 16% from 2010. The average application was for $100,754, and applicants reported an average income of $59,426. 30% of its applications resulted in an originated loan and 36% were denied. Its largest markets were Michigan City-La Porte, IN (45), Louisville-Jefferson County, KY-IN (36) and St. Louis, MO-IL (13) (applications in parentheses).
| Mortgage Company & Address | CU Channels 1551 Win Hentschel Blvd., Po Box 2433 West Lafayette, IN 47906 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 |
| Total Number of Mortgage Applications | 314 |
| Total Mortgage Loan Application Amount | $31,637,000 |
| Average Mortgage Loan Application Amount | $100,754 |
| Highest Mortgage Loan Application Amount | $351,000 |
| Average Applicant Income | $59,426 |
| Highest Applicant Income | $289,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records CU Channels filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Channels in 2011
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 | 160 | $15,947,000 | $99,000 | $351,000 | $54,000 | $216,000 |
| Refinancing | 153 | $15,626,000 | $102,000 | $322,000 | $65,000 | $289,000 |
| Home Improvement | 1 | $64,000 | $64,000 | $64,000 | $75,000 | $75,000 |
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 | 270 | $27,187,000 | $100,000 | $351,000 | $61,000 | $289,000 |
| Not Provided | 18 | $1,660,000 | $92,000 | $185,000 | $54,000 | $135,000 |
| Black or African American | 13 | $1,318,000 | $101,000 | $180,000 | $43,000 | $88,000 |
| Hispanic | 12 | $1,249,000 | $104,000 | $210,000 | $50,000 | $126,000 |
| Asian | 1 | $223,000 | $223,000 | $223,000 | $72,000 | $72,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 220 | $23,020,000 | $104,000 | $351,000 | $65,000 | $289,000 |
| FHA-insured (Federal Housing Administration) | 76 | $6,875,000 | $90,000 | $290,000 | $46,000 | $145,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 12 | $876,000 | $73,000 | $125,000 | $32,000 | $56,000 |
| VA-guaranteed (Veterans Administration) | 6 | $866,000 | $144,000 | $215,000 | $70,000 | $124,000 |
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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 114 | $10,031,000 | $87,000 | $221,000 | $48,000 | $216,000 |
| Loan Originated | 95 | $10,458,000 | $110,000 | $322,000 | $74,000 | $289,000 |
| Application Withdrawn By Applicant | 86 | $9,231,000 | $107,000 | $351,000 | $58,000 | $145,000 |
| File Closed For Incompleteness | 19 | $1,917,000 | $100,000 | $203,000 | $59,000 | $175,000 |
| Application Approved But Not Accepted | 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 | 75 | $6,770,000 | $90,000 | $221,000 | $50,000 | $216,000 |
| Debt-To-Income Ratio | 21 | $1,910,000 | $90,000 | $181,000 | $41,000 | $96,000 |
| Collateral | 9 | $724,000 | $80,000 | $143,000 | $58,000 | $120,000 |
| Other | 5 | $321,000 | $64,000 | $144,000 | $42,000 | $70,000 |
| Credit Application Incomplete | 3 | $208,000 | $69,000 | $127,000 | $26,000 | $46,000 |
| Employment History | 1 | $98,000 | $98,000 | $98,000 | $27,000 | $27,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 Channels's 2011 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 Channels'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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