First Imperial Credit Union Mortgage Lending & HMDA Data, 2020
In 2020, First Imperial Credit Union of El Centro, CA reported 57 mortgage applications totaling $11.0 million, up 1325% from 2019. The average application was for $193,070, and applicants reported an average income of $91,736. 16% of its applications resulted in an originated loan and 37% were denied. Its largest market was El Centro, CA (57).
| Mortgage Company & Address | First Imperial Credit Union 1602 W Main St El Centro, CA 92243 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 57 |
| Total Mortgage Loan Application Amount | $11,005,000 |
| Average Mortgage Loan Application Amount | $193,070 |
| Highest Mortgage Loan Application Amount | $365,000 |
| Average Applicant Income | $91,736 |
| Highest Applicant Income | $285,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Imperial Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Imperial Credit Union in 2020
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 | 30 | $6,230,000 | $207,000 | $345,000 | $93,000 | $261,000 |
| Cash-out Refinancing | 20 | $3,830,000 | $191,000 | $365,000 | $102,000 | $285,000 |
| Other Purpose | 4 | $450,000 | $112,000 | $185,000 | $66,000 | $126,000 |
| Home Purchase | 3 | $495,000 | $165,000 | $215,000 | $45,000 | $69,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 37 | $7,305,000 | $197,000 | $345,000 | $93,000 | $285,000 |
| Not Provided | 12 | $2,290,000 | $190,000 | $295,000 | $85,000 | $140,000 |
| White | 8 | $1,410,000 | $176,000 | $365,000 | $96,000 | $126,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 52 | $9,990,000 | $192,000 | $365,000 | $95,000 | $285,000 |
| FHA-insured (Federal Housing Administration) | 3 | $715,000 | $238,000 | $265,000 | $57,000 | $83,000 |
| VA-guaranteed (Veterans Administration) | 2 | $300,000 | $150,000 | $255,000 | $61,000 | $69,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 21 | $4,395,000 | $209,000 | $325,000 | $88,000 | $224,000 |
| Application Withdrawn By Applicant | 13 | $2,785,000 | $214,000 | $365,000 | $114,000 | $261,000 |
| File Closed For Incompleteness | 13 | $1,965,000 | $151,000 | $265,000 | $70,000 | $114,000 |
| Loan Originated | 9 | $1,755,000 | $195,000 | $295,000 | $105,000 | $285,000 |
| Application Approved But Not Accepted | 1 | $105,000 | $105,000 | $105,000 | $57,000 | $57,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 36 | $6,610,000 | $183,000 | $365,000 | $94,000 | $285,000 |
| Credit History | 8 | $1,760,000 | $220,000 | $285,000 | $92,000 | $224,000 |
| Debt-To-Income Ratio | 6 | $1,540,000 | $256,000 | $325,000 | $75,000 | $140,000 |
| Other | 4 | $720,000 | $180,000 | $255,000 | $94,000 | $128,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $260,000 | $130,000 | $145,000 | $118,000 | $122,000 |
| Employment History | 1 | $115,000 | $115,000 | $115,000 | $40,000 | $40,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 Imperial Credit Union's 2020 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 Imperial Credit Union'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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with aggregated HMDA statistics today.
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