First Security Credit Union Mortgage Lending & HMDA Data, 2003
In 2003, First Security Credit Union of Green Bay, WI reported 400 mortgage applications totaling $18.8 million. The average application was for $47,025, and applicants reported an average income of $56,592. 85% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Green Bay, WI (310), Appleton-Oshkosh-Neenah, WI (10) and Chicago, IL (1) (applications in parentheses).
| Mortgage Company & Address | First Security Credit Union P O Box 8327 Green Bay, WI 54308 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 400 |
| Total Mortgage Loan Application Amount | $18,810,000 |
| Average Mortgage Loan Application Amount | $47,025 |
| Highest Mortgage Loan Application Amount | $270,000 |
| Average Applicant Income | $56,592 |
| Highest Applicant Income | $320,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Security Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Security Credit Union in 2003
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 Improvement (one-to-four family) | 178 | $2,746,000 | $11,666 | $270,000 | $57,000 | $182,000 |
| Refinancing (home purchase or home improvement, one-to-four family) | 167 | $11,646,000 | $69,000 | $260,000 | $58,000 | $254,000 |
| Home Purchase (one-to-four family) | 55 | $4,418,000 | $80,000 | $218,000 | $51,000 | $320,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 |
|---|---|---|---|---|---|---|
| White | 391 | $18,376,000 | $22,333 | $270,000 | $57,000 | $320,000 |
| Hispanic | 4 | $283,000 | $70,000 | $138,000 | $43,000 | $87,000 |
| American Indian or Alaskan Native | 3 | $14,000 | $4,000 | $11,000 | $31,000 | $32,000 |
| Asian or Pacific Islander | 1 | $72,000 | $72,000 | $72,000 | $51,000 | $51,000 |
| Other | 1 | $65,000 | $65,000 | $65,000 | $88,000 | $88,000 |
| Black | 0 | $0 | $0 | $0 | $0 | $0 |
| Information not provided by applicant in mail or telephone application | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 396 | $18,692,000 | $22,333 | $270,000 | $56,000 | $320,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 4 | $118,000 | $29,000 | $75,000 | $94,000 | $170,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 340 | $14,888,000 | $26,500 | $218,000 | $67,000 | $320,000 |
| Application Denied By Financial Institution | 35 | $2,100,000 | $35,500 | $260,000 | $42,000 | $94,000 |
| Application Withdrawn By Applicant | 22 | $1,695,000 | $77,000 | $270,000 | $53,000 | $120,000 |
| Application Approved But Not Accepted | 3 | $127,000 | $42,000 | $74,000 | $59,000 | $80,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 | 13 | $1,003,000 | $77,000 | $260,000 | $45,000 | $82,000 |
| Debt-To-Income Ratio | 9 | $421,000 | $46,000 | $126,000 | $23,000 | $52,000 |
| Collateral | 9 | $316,000 | $24,000 | $70,000 | $46,000 | $94,000 |
| Other | 2 | $200,000 | $100,000 | $100,000 | $33,000 | $35,000 |
| Employment History | 1 | $30,000 | $30,000 | $30,000 | $27,000 | $27,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $130,000 | $130,000 | $130,000 | $66,000 | $66,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Security Credit Union's 2003 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 Security 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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