First Federal Savings Bank C-U Mortgage Lending & HMDA Data, 2008
In 2008, First Federal Savings Bank C-U of Champaign, IL reported 226 mortgage applications totaling $26.2 million, down 1% from 2007. The average application was for $115,774, and applicants reported an average income of $69,296. 96% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Champaign-Urbana, IL (211), Danville, IL (1) and Springfield, IL (1) (applications in parentheses).
| 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 | 226 |
| Total Mortgage Loan Application Amount | $26,165,000 |
| Average Mortgage Loan Application Amount | $115,774 |
| Highest Mortgage Loan Application Amount | $900,000 |
| Average Applicant Income | $69,296 |
| Highest Applicant Income | $504,000 |
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records First Federal Savings Bank C-U filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for First Federal Savings Bank C-U 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 | 137 | $15,762,000 | $115,000 | $570,000 | $73,000 | $491,000 |
| Home Purchase | 73 | $9,610,000 | $131,000 | $900,000 | $60,000 | $504,000 |
| Home Improvement | 16 | $793,000 | $49,000 | $174,000 | $80,000 | $242,000 |
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 | 165 | $18,634,000 | $112,000 | $570,000 | $86,000 | $504,000 |
| Not applicable | 41 | $5,324,000 | $129,000 | $900,000 | $0 | $0 |
| Black or African American | 15 | $1,712,000 | $114,000 | $328,000 | $73,000 | $194,000 |
| Asian | 4 | $401,000 | $100,000 | $157,000 | $87,000 | $117,000 |
| Not Provided | 1 | $94,000 | $94,000 | $94,000 | $118,000 | $118,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 226 | $26,165,000 | $115,000 | $900,000 | $70,000 | $504,000 |
| 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 | 217 | $25,132,000 | $115,000 | $900,000 | $70,000 | $504,000 |
| Application Withdrawn By Applicant | 5 | $578,000 | $115,000 | $269,000 | $63,000 | $130,000 |
| Application Denied By Financial Institution | 4 | $455,000 | $113,000 | $177,000 | $66,000 | $93,000 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Credit History | 2 | $252,000 | $126,000 | $177,000 | $63,000 | $69,000 |
| Collateral | 1 | $157,000 | $157,000 | $157,000 | $93,000 | $93,000 |
| Other | 1 | $46,000 | $46,000 | $46,000 | $48,000 | $48,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Federal Savings Bank C-U'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 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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