Dakota Plains Federal Credit Union Mortgage Lending & HMDA Data, 2016
In 2016, Dakota Plains Federal Credit Union of Lemmon, SD reported 21 mortgage applications totaling $1.3 million. The average application was for $61,761, and applicants reported an average income of $65,333. 81% of its applications resulted in an originated loan and 0% were denied. Its largest market was Rapid City, SD (2).
| Mortgage Company & Address | Dakota Plains Federal Credit Union 519 Main Ave Lemmon, SD 57638 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 |
| Total Number of Mortgage Applications | 21 |
| Total Mortgage Loan Application Amount | $1,297,000 |
| Average Mortgage Loan Application Amount | $61,761 |
| Highest Mortgage Loan Application Amount | $168,000 |
| Average Applicant Income | $65,333 |
| Highest Applicant Income | $161,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Dakota Plains Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Perkins, South Dakota | 7 | $ 414,000 | $ 59,142 | $ 67,000 |
| Corson, South Dakota | 3 | $ 273,000 | $ 91,000 | $ 72,000 |
| Pennington, South Dakota | 2 | $ 38,000 | $ 19,000 | $ 39,000 |
| Ziebach, South Dakota | 2 | $ 85,000 | $ 42,500 | $ 75,000 |
| Adams, North Dakota | 1 | $ 60,000 | $ 60,000 | $ 130,000 |
| Dewey, South Dakota | 1 | $ 24,000 | $ 24,000 | $ 30,000 |
| Haakon, South Dakota | 1 | $ 95,000 | $ 95,000 | $ 30,000 |
| Hughes, South Dakota | 1 | $ 23,000 | $ 23,000 | $ 21,000 |
| Mellette, South Dakota | 1 | $ 67,000 | $ 67,000 | $ 50,000 |
| Stanley, South Dakota | 1 | $ 68,000 | $ 68,000 | $ 39,000 |
| Sully, South Dakota | 1 | $ 150,000 | $ 150,000 | $ 161,000 |
Mortgage Loan Application Detail Totals for Dakota Plains Federal Credit Union in 2016
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 | 15 | $919,000 | $61,000 | $168,000 | $64,000 | $130,000 |
| Refinancing | 5 | $298,000 | $59,000 | $150,000 | $67,000 | $161,000 |
| Home Improvement | 1 | $80,000 | $80,000 | $80,000 | $77,000 | $77,000 |
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 | 16 | $1,059,000 | $66,000 | $168,000 | $69,000 | $161,000 |
| American Indian or Alaskan Native | 5 | $238,000 | $47,000 | $95,000 | $54,000 | $100,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiin or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 21 | $1,297,000 | $61,000 | $168,000 | $65,000 | $161,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 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 | 17 | $1,062,000 | $62,000 | $168,000 | $63,000 | $130,000 |
| Application Withdrawn By Applicant | 3 | $210,000 | $70,000 | $150,000 | $84,000 | $161,000 |
| Application Approved But Not Accepted | 1 | $25,000 | $25,000 | $25,000 | $48,000 | $48,000 |
| Application Denied By Financial Institution | 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Dakota Plains Federal Credit Union's 2016 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 Dakota Plains Federal Credit Union'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.
For a list of all lenders in South Dakota, download the full spreadsheet
with aggregated HMDA statistics today.
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