Mill City Credit Union Mortgage Lending & HMDA Data, 2012
In 2012, Mill City Credit Union of Minnetonka, MN reported 879 mortgage applications totaling $144.2 million, up 25% from 2011. The average application was for $164,009, and applicants reported an average income of $105,890. 21% of its applications resulted in an originated loan and 29% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (490), Cedar Rapids, IA (32) and Atlanta-Sandy Springs-Marietta, GA (18) (applications in parentheses).
| Mortgage Company & Address | Mill City Credit Union 9999 Wayzata Boulevard Minnetonka, MN 55305 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 879 |
| Total Mortgage Loan Application Amount | $144,164,000 |
| Average Mortgage Loan Application Amount | $164,009 |
| Highest Mortgage Loan Application Amount | $980,000 |
| Average Applicant Income | $105,890 |
| Highest Applicant Income | $1,522,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mill City Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | 490 | $ 90,946,000 | $ 185,604 | $ 119,938 |
| Cedar Rapids, IA | 32 | $ 3,427,000 | $ 107,093 | $ 88,000 |
| Atlanta-Sandy Springs-Marietta, GA | 18 | $ 2,662,000 | $ 147,888 | $ 91,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 15 | $ 2,169,000 | $ 144,600 | $ 86,000 |
| Rockford, IL | 12 | $ 1,196,000 | $ 99,666 | $ 88,000 |
| Albuquerque, NM | 10 | $ 977,000 | $ 97,700 | $ 69,000 |
| Miami-Miami Beach-Kendall, FL | 9 | $ 1,395,000 | $ 155,000 | $ 94,000 |
| Cincinnati-Middletown, OH-KY-IN | 7 | $ 1,163,000 | $ 166,142 | $ 75,000 |
| Joplin, MO | 6 | $ 559,000 | $ 93,166 | $ 59,000 |
| Kansas City, MO-KS | 6 | $ 660,000 | $ 110,000 | $ 77,666 |
| Chicago-Joliet-Naperville, IL | 5 | $ 906,000 | $ 181,200 | $ 118,000 |
| Fayetteville-Springdale-Rogers, AR-MO | 5 | $ 874,000 | $ 174,800 | $ 92,000 |
| Iowa City, IA | 4 | $ 470,000 | $ 117,500 | $ 82,000 |
| Lake County-Kenosha County, IL-WI | 4 | $ 822,000 | $ 205,500 | $ 147,000 |
| Newark-Union, NJ-PA | 4 | $ 1,762,000 | $ 440,500 | $ 233,000 |
| Philadelphia, PA | 4 | $ 776,000 | $ 194,000 | $ 475,000 |
| Baltimore-Towson, MD | 3 | $ 1,215,000 | $ 405,000 | $ 115,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 3 | $ 749,000 | $ 249,666 | $ 158,000 |
| Great Falls, MT | 3 | $ 319,000 | $ 106,333 | $ 73,000 |
| Kalamazoo-Portage, MI | 3 | $ 522,000 | $ 174,000 | $ 109,000 |
| St. Cloud, MN | 3 | $ 335,000 | $ 111,666 | $ 81,000 |
| Stockton, CA | 3 | $ 892,000 | $ 297,333 | $ 103,000 |
| Dallas-Plano-Irving, TX | 2 | $ 312,000 | $ 156,000 | $ 119,000 |
| Los Angeles-Long Beach-Glendale, CA | 2 | $ 517,000 | $ 258,500 | $ 107,000 |
| Mankato-North Mankato, MN | 2 | $ 86,000 | $ 43,000 | $ 73,000 |
| Omaha-Council Bluffs, NE-IA | 2 | $ 440,000 | $ 220,000 | $ 145,000 |
| Peabody, MA | 2 | $ 356,000 | $ 178,000 | $ 89,000 |
| Birmingham-Hoover, AL | 1 | $ 203,000 | $ 203,000 | $ 63,000 |
| Bismarck, ND | 1 | $ 150,000 | $ 150,000 | $ 66,000 |
| Boise City-Nampa, ID | 1 | $ 78,000 | $ 78,000 | $ 133,000 |
| Boston-Quincy, MA | 1 | $ 240,000 | $ 240,000 | $ 134,000 |
| Buffalo-Niagara Falls, NY | 1 | $ 81,000 | $ 81,000 | $ 50,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 100,000 | $ 100,000 | $ 158,000 |
| Charleston-North Charleston-Summerville, SC | 1 | $ 228,000 | $ 228,000 | $ 176,000 |
| Charlotte-Gastonia-Rock Hill, NC-SC | 1 | $ 134,000 | $ 134,000 | $ 64,000 |
| Columbus, OH | 1 | $ 70,000 | $ 70,000 | $ 79,000 |
| Danville, IL | 1 | $ 25,000 | $ 25,000 | $ 71,000 |
| Decatur, AL | 1 | $ 120,000 | $ 120,000 | $ 52,000 |
| Des Moines-West Des Moines, IA | 1 | $ 190,000 | $ 190,000 | $ 163,000 |
| Edison-New Brunswick, NJ | 1 | $ 300,000 | $ 300,000 | $ 400,000 |
| El Paso, TX | 1 | $ 135,000 | $ 135,000 | $ 138,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 91,000 | $ 91,000 | $ 126,000 |
| Honolulu, HI | 1 | $ 375,000 | $ 375,000 | $ 120,000 |
| Milwaukee-Waukesha-West Allis, WI | 1 | $ 120,000 | $ 120,000 | $ 47,000 |
| New Orleans-Metairie-Kenner, LA | 1 | $ 75,000 | $ 75,000 | $ 99,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 157,000 | $ 157,000 | $ 97,000 |
| Phoenix-Mesa-Glendale, AZ | 1 | $ 137,000 | $ 137,000 | $ 116,000 |
| Pittsburgh, PA | 1 | $ 40,000 | $ 40,000 | $ 170,000 |
| Poughkeepsie-Newburgh-Middletown, NY | 1 | $ 20,000 | $ 20,000 | $ 112,000 |
| Prescott, AZ | 1 | $ 25,000 | $ 25,000 | $ 52,000 |
| Racine, WI | 1 | $ 168,000 | $ 168,000 | $ 99,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 280,000 | $ 280,000 | $ 119,000 |
| Rochester, MN | 1 | $ 96,000 | $ 96,000 | $ 38,000 |
| Rockingham County-Strafford County, NH | 1 | $ 270,000 | $ 270,000 | $ 201,000 |
| Rocky Mount, NC | 1 | $ 60,000 | $ 60,000 | $ 110,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 1 | $ 50,000 | $ 50,000 | $ 152,000 |
| San Antonio-New Braunfels, TX | 1 | $ 38,000 | $ 38,000 | $ 22,000 |
| Santa Ana-Anaheim-Irvine, CA | 1 | $ 192,000 | $ 192,000 | $ 187,000 |
| Sheboygan, WI | 1 | $ 163,000 | $ 163,000 | $ 110,000 |
| Warren-Troy-Farmington Hills, MI | 1 | $ 187,000 | $ 187,000 | $ 60,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 1 | $ 393,000 | $ 393,000 | $ 119,000 |
Mortgage Loan Application Detail Totals for Mill City 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 | 653 | $106,425,000 | $162,000 | $731,000 | $111,000 | $1,522,000 |
| Home Purchase | 197 | $35,928,000 | $182,000 | $980,000 | $91,000 | $423,000 |
| Home Improvement | 29 | $1,811,000 | $62,000 | $175,000 | $92,000 | $361,000 |
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 | 659 | $104,320,000 | $158,000 | $731,000 | $104,000 | $426,000 |
| Not Provided | 109 | $19,878,000 | $182,000 | $614,000 | $125,000 | $1,522,000 |
| Hispanic | 44 | $6,838,000 | $155,000 | $409,000 | $86,000 | $273,000 |
| Black or African American | 29 | $6,070,000 | $209,000 | $980,000 | $102,000 | $301,000 |
| Asian | 28 | $5,613,000 | $200,000 | $417,000 | $107,000 | $413,000 |
| American Indian or Alaskan Native | 6 | $1,156,000 | $192,000 | $410,000 | $82,000 | $170,000 |
| Not applicable | 4 | $289,000 | $72,000 | $167,000 | $92,000 | $198,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 877 | $143,750,000 | $163,000 | $980,000 | $106,000 | $1,522,000 |
| FHA-insured (Federal Housing Administration) | 2 | $414,000 | $207,000 | $214,000 | $73,000 | $89,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 259 | $39,565,000 | $152,000 | $980,000 | $88,000 | $289,000 |
| File Closed For Incompleteness | 199 | $39,814,000 | $200,000 | $731,000 | $111,000 | $423,000 |
| Loan Originated | 188 | $30,062,000 | $159,000 | $920,000 | $135,000 | $1,522,000 |
| Application Withdrawn By Applicant | 80 | $9,869,000 | $123,000 | $417,000 | $106,000 | $261,000 |
| Application Approved But Not Accepted | 79 | $14,203,000 | $179,000 | $468,000 | $119,000 | $426,000 |
| Preapproval Denied by Financial Institution | 66 | $8,614,000 | $130,000 | $360,000 | $62,000 | $296,000 |
| Preapproval Approved but not Accepted | 8 | $2,037,000 | $254,000 | $384,000 | $102,000 | $200,000 |
| 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 | 111 | $14,461,000 | $130,000 | $468,000 | $70,000 | $227,000 |
| Other | 74 | $14,642,000 | $197,000 | $384,000 | $109,000 | $250,000 |
| Collateral | 49 | $5,933,000 | $121,000 | $488,000 | $89,000 | $237,000 |
| Debt-To-Income Ratio | 21 | $2,484,000 | $118,000 | $250,000 | $65,000 | $296,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $449,000 | $112,000 | $143,000 | $71,000 | $160,000 |
| Employment History | 2 | $343,000 | $171,000 | $178,000 | $45,000 | $58,000 |
| Credit Application Incomplete | 1 | $86,000 | $86,000 | $86,000 | $44,000 | $44,000 |
| 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 Mill City 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 Mill City 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.
For a list of all lenders in Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.
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