First Federal Savings & Loan Mortgage Lending & HMDA Data, 2007
In 2007, First Federal Savings & Loan of Kewanee, IL reported 176 mortgage applications totaling $13.7 million, down 2% from 2006. The average application was for $77,801, and applicants reported an average income of $49,363. 82% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Davenport-Moline-Rock Island, IA-IL (140), Phoenix-Mesa-Scottsdale, AZ (16) and Peoria, IL (5) (applications in parentheses).
| Mortgage Company & Address | First Federal Savings & Loan 101 West Central Blvd Kewanee, IL 61443 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 | 176 |
| Total Mortgage Loan Application Amount | $13,693,000 |
| Average Mortgage Loan Application Amount | $77,801 |
| Highest Mortgage Loan Application Amount | $600,000 |
| Average Applicant Income | $49,363 |
| Highest Applicant Income | $215,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 & Loan in 2007
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 | 83 | $6,377,000 | $76,000 | $600,000 | $51,000 | $144,000 |
| Home Improvement | 57 | $2,992,000 | $52,000 | $483,000 | $51,000 | $209,000 |
| Refinancing | 36 | $4,324,000 | $120,000 | $600,000 | $43,000 | $215,000 |
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 | 152 | $7,375,000 | $48,000 | $300,000 | $56,000 | $215,000 |
| Not applicable | 19 | $6,201,000 | $326,000 | $600,000 | $0 | $0 |
| Hispanic | 4 | $69,000 | $17,000 | $39,000 | $33,000 | $52,000 |
| Black or African American | 1 | $48,000 | $48,000 | $48,000 | $39,000 | $39,000 |
| Not Provided | 0 | $0 | $0 | $0 | $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 |
| Asian | 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) | 176 | $13,693,000 | $77,000 | $600,000 | $49,000 | $215,000 |
| 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 | 144 | $7,047,000 | $48,000 | $300,000 | $56,000 | $215,000 |
| Loan Purchased By The Institution | 17 | $6,033,000 | $354,000 | $600,000 | $0 | $0 |
| Application Denied By Financial Institution | 11 | $482,000 | $43,000 | $83,000 | $35,000 | $78,000 |
| Application Approved But Not Accepted | 3 | $107,000 | $35,000 | $45,000 | $73,000 | $125,000 |
| Application Withdrawn By Applicant | 1 | $24,000 | $24,000 | $24,000 | $53,000 | $53,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 5 | $289,000 | $57,000 | $80,000 | $40,000 | $78,000 |
| Credit History | 4 | $155,000 | $38,000 | $83,000 | $30,000 | $56,000 |
| Other | 1 | $31,000 | $31,000 | $31,000 | $40,000 | $40,000 |
| Unverifiable Information | 1 | $7,000 | $7,000 | $7,000 | $22,000 | $22,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Federal Savings & Loan's 2007 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 & Loan'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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