Great Midwest Bank SSB Mortgage Lending & HMDA Data, 2005

In 2005, Great Midwest Bank SSB of Brookfield, WI reported 1,070 mortgage applications totaling $182.2 million, down 14% from 2004. The average application was for $170,326, and applicants reported an average income of $123,172. 90% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Milwaukee-Waukesha-West Allis, WI (598), Madison, WI (177) and Appleton, WI (134) (applications in parentheses).

Mortgage Company & Address Great Midwest Bank SSB
15900 W Bluemound Rd
Brookfield, WI 53005
Tel #: available with data download
Federal Regulator * available with data download
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Total Number of Mortgage Applications 1,070
Total Mortgage Loan Application Amount $182,249,000
Average Mortgage Loan Application Amount $170,326
Highest Mortgage Loan Application Amount $3,200,000
Average Applicant Income $123,172
Highest Applicant Income $9,000,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Great Midwest Bank SSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Totals for Great Midwest Bank SSB by Metropolitan Area in 2005

Metro Area Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Milwaukee-Waukesha-West Allis, WI 598 $ 88,082,000 $ 147,294 $ 73,000
Madison, WI 177 $ 32,643,000 $ 184,423 $ 175,000
Appleton, WI 134 $ 12,864,000 $ 96,000 $ 62,000
Racine, WI 15 $ 2,308,000 $ 153,866 $ 69,000
Oshkosh-Neenah, WI 11 $ 1,327,000 $ 120,636 $ 61,000
Sheboygan, WI 6 $ 976,000 $ 162,666 $ 104,000
Denver-Aurora, CO 4 $ 1,087,000 $ 271,750 $ 349,000
Fond Du Lac, WI 2 $ 340,000 $ 170,000 $ 63,000
Green Bay, WI 2 $ 83,000 $ 41,500 $ 65,000
Santa Fe, NM 1 $ 450,000 $ 450,000 $ 7,523,000
Wausau, WI 1 $ 136,000 $ 136,000 $ 72,000

Mortgage Loan Application Detail Totals for Great Midwest Bank SSB in 2005

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 530 $84,731,000 $475,500 $2,280,000 $382,000 $1,433,000
Home Purchase 433 $93,762,000 $329,250 $3,200,000 $2,116,500 $9,000,000
Home Improvement 107 $3,756,000 $35,000 $338,000 $81,000 $276,000

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 978 $163,355,000 $331,750 $3,200,000 $2,116,000 $9,000,000
Hispanic 48 $11,460,000 $446,000 $2,100,000 $352,500 $1,433,000
Asian 18 $1,973,000 $109,000 $353,000 $58,000 $188,000
Black or African American 16 $1,614,000 $104,500 $195,000 $73,000 $156,000
Not applicable 5 $3,206,000 $641,000 $2,280,000 $415,000 $1,309,000
American Indian or Alaskan Native 3 $490,000 $163,000 $200,000 $77,000 $115,000
Not Provided 2 $151,000 $75,000 $76,000 $13,000 $15,000
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) 1,070 $182,249,000 $337,750 $3,200,000 $2,104,750 $9,000,000
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 958 $160,201,000 $401,666 $3,200,000 $2,721,000 $7,523,000
Application Withdrawn By Applicant 38 $6,181,000 $162,000 $476,000 $72,000 $287,000
Application Approved But Not Accepted 33 $11,341,000 $596,500 $2,200,000 $707,500 $9,000,000
Application Denied By Financial Institution 24 $1,951,000 $81,000 $294,000 $52,000 $107,000
Preapproval Denied by Financial Institution 13 $1,284,000 $98,000 $144,000 $44,000 $96,000
File Closed For Incompleteness 4 $1,291,000 $322,000 $650,000 $161,000 $356,000
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
Mortgage Insurance Denied 4 $497,000 $130,500 $173,000 $44,500 $62,000
Credit History 2 $191,000 $95,000 $106,000 $57,000 $67,000
Debt-To-Income Ratio 1 $90,000 $90,000 $90,000 $73,000 $73,000
Collateral 1 $136,000 $136,000 $136,000 $60,000 $60,000
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Other 0 $0 $0 $0 $0 $0
Unverifiable Information 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

Our comprehensive HMDA mortgage statistics provide invaluable insights into Great Midwest Bank SSB's 2005 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 Great Midwest Bank SSB'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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