Gas & Electric Credit Union Mortgage Lending & HMDA Data, 2012
In 2012, Gas & Electric Credit Union of Rock Island, IL reported 72 mortgage applications totaling $8.6 million, up 200% from 2011. The average application was for $118,944, and applicants reported an average income of $98,875. 92% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Davenport-Moline-Rock Island, IA-IL (62), Des Moines-West Des Moines, IA (3) and Cedar Rapids, IA (1) (applications in parentheses).
| Mortgage Company & Address | Gas & Electric Credit Union 2300 4th Ave Rock Island, IL 61201 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 |
| Total Number of Mortgage Applications | 72 |
| Total Mortgage Loan Application Amount | $8,564,000 |
| Average Mortgage Loan Application Amount | $118,944 |
| Highest Mortgage Loan Application Amount | $320,000 |
| Average Applicant Income | $98,875 |
| Highest Applicant Income | $226,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Gas & Electric Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Davenport-Moline-Rock Island, IA-IL | 62 | $ 7,252,000 | $ 116,967 | $ 97,000 |
| Des Moines-West Des Moines, IA | 3 | $ 466,000 | $ 155,333 | $ 125,000 |
| Cedar Rapids, IA | 1 | $ 125,000 | $ 125,000 | $ 85,000 |
| Lake County-Kenosha County, IL-WI | 1 | $ 280,000 | $ 280,000 | $ 196,000 |
| Rockford, IL | 1 | $ 31,000 | $ 31,000 | $ 76,000 |
Mortgage Loan Application Detail Totals for Gas & Electric Credit Union in 2012
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 | 53 | $6,629,000 | $125,000 | $314,000 | $103,000 | $226,000 |
| Home Purchase | 17 | $1,804,000 | $106,000 | $320,000 | $92,000 | $196,000 |
| Home Improvement | 2 | $131,000 | $65,000 | $75,000 | $48,000 | $55,000 |
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 | 66 | $7,899,000 | $119,000 | $320,000 | $99,000 | $226,000 |
| Black or African American | 2 | $313,000 | $156,000 | $225,000 | $125,000 | $183,000 |
| Hispanic | 1 | $100,000 | $100,000 | $100,000 | $174,000 | $174,000 |
| Not Provided | 1 | $42,000 | $42,000 | $42,000 | $43,000 | $43,000 |
| American Indian or Alaskan Native | 1 | $60,000 | $60,000 | $60,000 | $62,000 | $62,000 |
| Asian | 1 | $150,000 | $150,000 | $150,000 | $80,000 | $80,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 72 | $8,564,000 | $118,000 | $320,000 | $99,000 | $226,000 |
| 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 | 66 | $7,822,000 | $118,000 | $320,000 | $98,000 | $226,000 |
| Application Withdrawn By Applicant | 3 | $345,000 | $115,000 | $224,000 | $88,000 | $140,000 |
| Application Denied By Financial Institution | 2 | $267,000 | $133,000 | $167,000 | $161,000 | $209,000 |
| Preapproval Denied by Financial Institution | 1 | $130,000 | $130,000 | $130,000 | $92,000 | $92,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 1 | $100,000 | $100,000 | $100,000 | $209,000 | $209,000 |
| Debt-To-Income Ratio | 1 | $167,000 | $167,000 | $167,000 | $113,000 | $113,000 |
| Collateral | 1 | $130,000 | $130,000 | $130,000 | $92,000 | $92,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Gas & Electric Credit Union's 2012 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 Gas & Electric 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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