Home Federal Savings Bank Mortgage Lending & HMDA Data, 2009
In 2009, Home Federal Savings Bank of Rochester, MN reported 1,676 mortgage applications totaling $236.2 million, up 32% from 2008. The average application was for $140,942, and applicants reported an average income of $86,459. 62% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Rochester, MN (698), Minneapolis-St. Paul-Bloomington, MN-WI (113) and La Crosse, WI-MN (88) (applications in parentheses).
| Mortgage Company & Address | Home Federal Savings Bank 1016 Civic Center Dr Nw Rochester, MN 55901 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,676 |
| Total Mortgage Loan Application Amount | $236,220,000 |
| Average Mortgage Loan Application Amount | $140,942 |
| Highest Mortgage Loan Application Amount | $1,144,000 |
| Average Applicant Income | $86,459 |
| Highest Applicant Income | $1,235,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Home Federal Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Rochester, MN | 698 | $ 118,747,000 | $ 170,124 | $ 110,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 113 | $ 21,231,000 | $ 187,884 | $ 111,159 |
| La Crosse, WI-MN | 88 | $ 10,956,000 | $ 124,500 | $ 59,261 |
| Des Moines-West Des Moines, IA | 3 | $ 334,000 | $ 111,333 | $ 116,000 |
| Ames, IA | 2 | $ 228,000 | $ 114,000 | $ 69,000 |
| Cedar Rapids, IA | 2 | $ 179,000 | $ 89,500 | $ 40,000 |
| Duluth, MN-WI | 2 | $ 270,000 | $ 135,000 | $ 109,500 |
| Eau Claire, WI | 2 | $ 347,000 | $ 173,500 | $ 246,000 |
| Milwaukee-Waukesha-West Allis, WI | 2 | $ 229,000 | $ 114,500 | $ 154,000 |
| Naples-Marco Island, FL | 2 | $ 627,000 | $ 313,500 | $ 140,000 |
| Waterloo-Cedar Falls, IA | 2 | $ 190,000 | $ 95,000 | $ 98,000 |
| Atlanta-Sandy Springs-Marietta, GA | 1 | $ 208,000 | $ 208,000 | $ 225,000 |
| Bend, OR | 1 | $ 156,000 | $ 156,000 | $ 80,000 |
| Fargo, ND-MN | 1 | $ 153,000 | $ 153,000 | $ 20,000 |
| Grand Forks, ND-MN | 1 | $ 246,000 | $ 246,000 | $ 480,000 |
| Las Vegas-Paradise, NV | 1 | $ 101,000 | $ 101,000 | $ 56,000 |
| Mankato-North Mankato, MN | 1 | $ 147,000 | $ 147,000 | $ 34,000 |
| Omaha-Council Bluffs, NE-IA | 1 | $ 340,000 | $ 340,000 | $ 450,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 402,000 | $ 402,000 | $ 464,000 |
| Santa Ana-Anaheim-Irvine, CA | 1 | $ 478,000 | $ 478,000 | $ 225,000 |
| Sheboygan, WI | 1 | $ 112,000 | $ 112,000 | $ 242,000 |
| Tucson, AZ | 1 | $ 118,000 | $ 118,000 | $ 73,000 |
Mortgage Loan Application Detail Totals for Home Federal Savings Bank in 2009
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 | 1,050 | $161,043,000 | $153,000 | $1,000,000 | $89,000 | $956,000 |
| Home Purchase | 507 | $72,464,000 | $142,000 | $1,144,000 | $86,000 | $1,235,000 |
| Home Improvement | 119 | $2,713,000 | $22,000 | $260,000 | $66,000 | $648,000 |
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 | 1,443 | $206,156,000 | $142,000 | $1,144,000 | $88,000 | $1,235,000 |
| Not Provided | 107 | $12,831,000 | $119,000 | $800,000 | $117,000 | $586,000 |
| Not applicable | 63 | $8,173,000 | $129,000 | $760,000 | $0 | $0 |
| Asian | 26 | $4,505,000 | $173,000 | $417,000 | $108,000 | $714,000 |
| Hispanic | 19 | $2,493,000 | $131,000 | $271,000 | $73,000 | $616,000 |
| Black or African American | 10 | $1,173,000 | $117,000 | $327,000 | $151,000 | $648,000 |
| American Indian or Alaskan Native | 5 | $473,000 | $94,000 | $200,000 | $66,000 | $113,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $416,000 | $138,000 | $151,000 | $60,000 | $77,000 |
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) | 1,479 | $212,644,000 | $143,000 | $1,144,000 | $92,000 | $1,235,000 |
| FHA-insured (Federal Housing Administration) | 155 | $18,737,000 | $120,000 | $371,000 | $44,000 | $240,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 26 | $2,657,000 | $102,000 | $181,000 | $34,000 | $61,000 |
| VA-guaranteed (Veterans Administration) | 16 | $2,182,000 | $136,000 | $237,000 | $52,000 | $91,000 |
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 | 1,031 | $140,069,000 | $135,000 | $1,144,000 | $88,000 | $956,000 |
| Application Withdrawn By Applicant | 365 | $62,941,000 | $172,000 | $1,000,000 | $108,000 | $1,235,000 |
| Application Denied By Financial Institution | 150 | $15,756,000 | $105,000 | $700,000 | $52,000 | $226,000 |
| Preapproval Denied by Financial Institution | 65 | $6,862,000 | $105,000 | $417,000 | $25,000 | $100,000 |
| Application Approved But Not Accepted | 54 | $7,637,000 | $141,000 | $417,000 | $87,000 | $450,000 |
| File Closed For Incompleteness | 9 | $2,754,000 | $306,000 | $895,000 | $118,000 | $312,000 |
| Preapproval Approved but not Accepted | 2 | $201,000 | $100,000 | $123,000 | $122,000 | $221,000 |
| 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 | 102 | $9,678,000 | $94,000 | $360,000 | $39,000 | $135,000 |
| Debt-To-Income Ratio | 62 | $6,963,000 | $112,000 | $700,000 | $43,000 | $226,000 |
| Collateral | 29 | $3,151,000 | $108,000 | $352,000 | $54,000 | $121,000 |
| Other | 9 | $989,000 | $109,000 | $325,000 | $66,000 | $173,000 |
| Employment History | 6 | $882,000 | $147,000 | $417,000 | $38,000 | $77,000 |
| Unverifiable Information | 3 | $220,000 | $73,000 | $87,000 | $25,000 | $33,000 |
| Credit Application Incomplete | 2 | $344,000 | $172,000 | $304,000 | $66,000 | $87,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $248,000 | $248,000 | $248,000 | $129,000 | $129,000 |
| Mortgage Insurance Denied | 1 | $143,000 | $143,000 | $143,000 | $60,000 | $60,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Home Federal Savings Bank's 2009 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 Home Federal Savings Bank'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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