Harris Bank Arlington-Meadows Mortgage Lending & HMDA Data, 2004
In 2004, Harris Bank Arlington-Meadows of Rolling Meadows, IL reported 57 mortgage applications totaling $10.9 million, down 49% from 2003. The average application was for $190,807, and applicants reported an average income of $45,192. 46% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (50), Lake County-Kenosha County, IL-WI (2) and Niles-Benton Harbor, MI (1) (applications in parentheses).
| Mortgage Company & Address | Harris Bank Arlington-Meadows 3225 Kirchoff Road Rolling Meadows, IL 60008 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 57 |
| Total Mortgage Loan Application Amount | $10,876,000 |
| Average Mortgage Loan Application Amount | $190,807 |
| Highest Mortgage Loan Application Amount | $750,000 |
| Average Applicant Income | $45,192 |
| Highest Applicant Income | $879,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Harris Bank Arlington-Meadows filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Harris Bank Arlington-Meadows in 2004
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 | 25 | $3,001,000 | $115,000 | $490,000 | $19,333 | $104,000 |
| Home Purchase | 23 | $5,475,000 | $238,000 | $590,000 | $27,000 | $322,000 |
| Home Improvement | 9 | $2,400,000 | $266,000 | $750,000 | $111,000 | $879,000 |
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 |
|---|---|---|---|---|---|---|
| Not applicable | 27 | $6,323,000 | $171,333 | $590,000 | $0 | $0 |
| White | 22 | $3,722,000 | $114,500 | $750,000 | $70,500 | $879,000 |
| Not Provided | 5 | $802,000 | $160,000 | $555,000 | $49,000 | $98,000 |
| Hispanic | 2 | $24,000 | $12,000 | $20,000 | $33,000 | $43,000 |
| Asian | 1 | $5,000 | $5,000 | $5,000 | $39,000 | $39,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 57 | $10,876,000 | $139,666 | $750,000 | $21,000 | $879,000 |
| 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 | 26 | $4,727,000 | $122,000 | $750,000 | $39,000 | $879,000 |
| Loan Purchased By The Institution | 23 | $5,338,000 | $192,500 | $590,000 | $0 | $0 |
| Application Denied By Financial Institution | 6 | $677,000 | $112,000 | $555,000 | $52,000 | $98,000 |
| Application Withdrawn By Applicant | 1 | $18,000 | $18,000 | $18,000 | $12,000 | $12,000 |
| Application Approved But Not Accepted | 1 | $116,000 | $116,000 | $116,000 | $76,000 | $76,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Collateral | 2 | $94,000 | $47,000 | $52,000 | $78,000 | $96,000 |
| Credit History | 2 | $17,000 | $8,000 | $13,000 | $61,000 | $98,000 |
| Employment History | 1 | $11,000 | $11,000 | $11,000 | $35,000 | $35,000 |
| Unverifiable Information | 1 | $555,000 | $555,000 | $555,000 | $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 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Harris Bank Arlington-Meadows's 2004 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 Harris Bank Arlington-Meadows'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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