First Federal Savings Bank C-U Mortgage Lending & HMDA Data, 2004
In 2004, First Federal Savings Bank C-U of Champaign, IL reported 344 mortgage applications totaling $34.8 million, down 29% from 2003. The average application was for $101,061, and applicants reported an average income of $56,840. 94% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Champaign-Urbana, IL (331) and Bloomington-Normal, IL (1).
| Mortgage Company & Address | First Federal Savings Bank C-U 1311 South Neil St. Champaign, IL 61820 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 344 |
| Total Mortgage Loan Application Amount | $34,765,000 |
| Average Mortgage Loan Application Amount | $101,061 |
| Highest Mortgage Loan Application Amount | $623,000 |
| Average Applicant Income | $56,840 |
| Highest Applicant Income | $900,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Federal Savings Bank C-U filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Champaign, Illinois | 323 | $ 32,917,000 | $ 101,910 | $ 49,000 |
| Douglas, Illinois | 11 | $ 492,000 | $ 44,727 | $ 48,000 |
| Piatt, Illinois | 6 | $ 867,000 | $ 144,500 | $ 75,000 |
| Ford, Illinois | 2 | $ 141,000 | $ 70,500 | $ 54,000 |
| Iroquois, Illinois | 1 | $ 220,000 | $ 220,000 | $ 246,000 |
| McLean, Illinois | 1 | $ 128,000 | $ 128,000 | $ 64,000 |
Mortgage Loan Application Detail Totals for First Federal Savings Bank C-U in 2004
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 | 159 | $16,746,000 | $105,000 | $623,000 | $59,000 | $320,000 |
| Home Purchase | 138 | $14,908,000 | $108,000 | $542,000 | $56,000 | $900,000 |
| Home Improvement | 47 | $3,111,000 | $66,000 | $235,000 | $52,000 | $194,000 |
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 | 282 | $29,117,000 | $103,000 | $542,000 | $72,000 | $900,000 |
| Black or African American | 39 | $2,905,000 | $74,000 | $300,000 | $35,000 | $197,000 |
| Not applicable | 14 | $1,650,000 | $117,000 | $623,000 | $22,000 | $50,000 |
| Asian | 7 | $1,075,000 | $153,000 | $290,000 | $61,000 | $156,000 |
| Hispanic | 2 | $18,000 | $9,000 | $9,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 344 | $34,765,000 | $101,000 | $623,000 | $56,000 | $900,000 |
| 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 | 322 | $33,215,000 | $103,000 | $623,000 | $59,000 | $900,000 |
| Application Denied By Financial Institution | 14 | $744,000 | $53,000 | $138,000 | $48,000 | $122,000 |
| Application Withdrawn By Applicant | 8 | $806,000 | $100,000 | $138,000 | $58,000 | $180,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 6 | $312,000 | $52,000 | $138,000 | $57,000 | $114,000 |
| Debt-To-Income Ratio | 6 | $328,000 | $54,000 | $121,000 | $48,000 | $122,000 |
| Collateral | 2 | $104,000 | $52,000 | $59,000 | $38,000 | $42,000 |
| Credit Application Incomplete | 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 First Federal Savings Bank C-U's 2004 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 Federal Savings Bank C-U'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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