First Federal S & L of Lorain Mortgage Lending & HMDA Data, 2010
In 2010, First Federal S & L of Lorain of Lorain, OH reported 474 mortgage applications totaling $68.9 million, down 40% from 2009. The average application was for $145,440, and applicants reported an average income of $91,919. 61% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Cleveland-Elyria-Mentor, OH (311), Sandusky, OH (56) and Toledo, OH (37) (applications in parentheses).
| Mortgage Company & Address | First Federal S & L of Lorain 3721 Oberlin Ave Lorain, OH 44053 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 | 474 |
| Total Mortgage Loan Application Amount | $68,939,000 |
| Average Mortgage Loan Application Amount | $145,440 |
| Highest Mortgage Loan Application Amount | $978,000 |
| Average Applicant Income | $91,919 |
| Highest Applicant Income | $1,600,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Federal S & L of Lorain filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cleveland-Elyria-Mentor, OH | 311 | $ 44,613,000 | $ 143,450 | $ 83,000 |
| Sandusky, OH | 56 | $ 10,426,000 | $ 186,178 | $ 122,000 |
| Toledo, OH | 37 | $ 5,759,000 | $ 155,648 | $ 161,000 |
| Madison, WI | 2 | $ 296,000 | $ 148,000 | $ 72,000 |
| Columbus, OH | 1 | $ 114,000 | $ 114,000 | $ 107,000 |
Mortgage Loan Application Detail Totals for First Federal S & L of Lorain in 2010
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 | 320 | $46,248,000 | $144,000 | $978,000 | $90,000 | $1,600,000 |
| Refinancing | 131 | $19,868,000 | $151,000 | $775,000 | $98,000 | $635,000 |
| Home Improvement | 23 | $2,823,000 | $122,000 | $510,000 | $84,000 | $191,000 |
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 | 404 | $62,017,000 | $153,000 | $978,000 | $98,000 | $1,600,000 |
| Hispanic | 26 | $2,135,000 | $82,000 | $233,000 | $53,000 | $164,000 |
| Not applicable | 21 | $2,323,000 | $110,000 | $949,000 | $25,000 | $397,000 |
| Black or African American | 19 | $1,800,000 | $94,000 | $328,000 | $78,000 | $202,000 |
| Asian | 4 | $664,000 | $166,000 | $200,000 | $168,000 | $255,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 474 | $68,939,000 | $145,000 | $978,000 | $92,000 | $1,600,000 |
| 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 | 291 | $42,165,000 | $144,000 | $978,000 | $96,000 | $1,600,000 |
| Application Withdrawn By Applicant | 64 | $10,471,000 | $163,000 | $949,000 | $104,000 | $513,000 |
| Application Denied By Financial Institution | 51 | $7,184,000 | $140,000 | $370,000 | $70,000 | $188,000 |
| Preapproval Denied by Financial Institution | 49 | $5,602,000 | $114,000 | $380,000 | $70,000 | $354,000 |
| Application Approved But Not Accepted | 18 | $3,334,000 | $185,000 | $466,000 | $107,000 | $329,000 |
| File Closed For Incompleteness | 1 | $183,000 | $183,000 | $183,000 | $78,000 | $78,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 | 33 | $5,018,000 | $152,000 | $380,000 | $68,000 | $246,000 |
| Credit History | 28 | $3,495,000 | $124,000 | $361,000 | $84,000 | $354,000 |
| Other | 17 | $1,782,000 | $104,000 | $260,000 | $62,000 | $255,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 11 | $1,023,000 | $93,000 | $349,000 | $62,000 | $169,000 |
| Employment History | 7 | $949,000 | $135,000 | $370,000 | $53,000 | $156,000 |
| Collateral | 3 | $469,000 | $156,000 | $310,000 | $70,000 | $113,000 |
| Credit Application Incomplete | 1 | $50,000 | $50,000 | $50,000 | $28,000 | $28,000 |
| Mortgage Insurance Denied | 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 S & L of Lorain's 2010 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 S & L of Lorain'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 Ohio, download the full spreadsheet
with aggregated HMDA statistics today.
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