First Chicago Bank & Trust Mortgage Lending & HMDA Data, 2008
In 2008, First Chicago Bank & Trust of Itasca, IL reported 126 mortgage applications totaling $69.8 million, up 157% from 2007. The average application was for $554,301, and applicants reported an average income of $69,825. 59% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (115), Lake County-Kenosha County, IL-WI (3) and Cape Coral-Fort Myers, FL (1) (applications in parentheses).
| Mortgage Company & Address | First Chicago Bank & Trust 1145 N. Arlington Heights Rd Itasca, IL 60143 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 |
| Total Number of Mortgage Applications | 126 |
| Total Mortgage Loan Application Amount | $69,842,000 |
| Average Mortgage Loan Application Amount | $554,301 |
| Highest Mortgage Loan Application Amount | $9,000,000 |
| Average Applicant Income | $69,825 |
| Highest Applicant Income | $450,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Chicago Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 First Chicago Bank & Trust in 2008
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 | 71 | $32,331,000 | $455,000 | $4,500,000 | $67,000 | $319,000 |
| Home Purchase | 46 | $21,389,000 | $464,000 | $4,500,000 | $81,000 | $450,000 |
| Home Improvement | 9 | $16,122,000 | $1,791,000 | $9,000,000 | $35,000 | $153,000 |
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 | 47 | $18,830,000 | $400,000 | $4,500,000 | $105,000 | $450,000 |
| Not applicable | 36 | $35,784,000 | $994,000 | $9,000,000 | $0 | $0 |
| Not Provided | 25 | $7,394,000 | $295,000 | $500,000 | $106,000 | $319,000 |
| Hispanic | 10 | $3,414,000 | $341,000 | $755,000 | $72,000 | $207,000 |
| Asian | 6 | $3,960,000 | $660,000 | $2,900,000 | $63,000 | $128,000 |
| Black or African American | 1 | $180,000 | $180,000 | $180,000 | $55,000 | $55,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $280,000 | $280,000 | $280,000 | $116,000 | $116,000 |
| American Indian or Alaskan Native | 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) | 126 | $69,842,000 | $554,000 | $9,000,000 | $70,000 | $450,000 |
| 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 | 74 | $48,068,000 | $649,000 | $9,000,000 | $59,000 | $450,000 |
| Application Approved But Not Accepted | 29 | $11,466,000 | $395,000 | $3,750,000 | $92,000 | $394,000 |
| Application Denied By Financial Institution | 19 | $4,817,000 | $253,000 | $500,000 | $86,000 | $319,000 |
| Application Withdrawn By Applicant | 2 | $4,842,000 | $2,421,000 | $4,500,000 | $67,000 | $134,000 |
| Loan Purchased By The Institution | 2 | $649,000 | $324,000 | $352,000 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 10 | $2,850,000 | $285,000 | $500,000 | $64,000 | $136,000 |
| Collateral | 5 | $855,000 | $171,000 | $407,000 | $69,000 | $181,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $487,000 | $243,000 | $379,000 | $78,000 | $118,000 |
| Credit History | 1 | $417,000 | $417,000 | $417,000 | $319,000 | $319,000 |
| Unverifiable Information | 1 | $208,000 | $208,000 | $208,000 | $166,000 | $166,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Chicago Bank & Trust's 2008 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 First Chicago Bank & Trust'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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