Insight Credit Union Mortgage Lending & HMDA Data, 2006
In 2006, Insight Credit Union of Winter Springs, FL reported 763 mortgage applications totaling $67.3 million, up 65% from 2005. The average application was for $88,266, and applicants reported an average income of $64,610. 59% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Orlando-Kissimmee, FL (570), Deltona-Daytona Beach-Ormond Beach, FL (32) and Palm Bay-Melbourne-Titusville, FL (27) (applications in parentheses).
| Mortgage Company & Address | Insight Credit Union 270 Winding Hollow Blvd Winter Springs, FL 32708 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 763 |
| Total Mortgage Loan Application Amount | $67,347,000 |
| Average Mortgage Loan Application Amount | $88,266 |
| Highest Mortgage Loan Application Amount | $500,000 |
| Average Applicant Income | $64,610 |
| Highest Applicant Income | $475,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Insight Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Insight Credit Union in 2006
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 |
|---|---|---|---|---|---|---|
| Home Improvement | 383 | $17,236,000 | $45,000 | $305,000 | $64,000 | $466,000 |
| Refinancing | 233 | $27,299,000 | $117,000 | $500,000 | $66,000 | $337,000 |
| Home Purchase | 147 | $22,812,000 | $155,000 | $412,000 | $64,000 | $475,000 |
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 | 643 | $55,036,000 | $85,000 | $500,000 | $66,000 | $475,000 |
| Black or African American | 61 | $6,593,000 | $108,000 | $440,000 | $58,000 | $173,000 |
| Hispanic | 51 | $4,933,000 | $96,000 | $300,000 | $58,000 | $142,000 |
| Asian | 5 | $530,000 | $106,000 | $190,000 | $63,000 | $105,000 |
| American Indian or Alaskan Native | 1 | $75,000 | $75,000 | $75,000 | $52,000 | $52,000 |
| Not Provided | 1 | $105,000 | $105,000 | $105,000 | $61,000 | $61,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $75,000 | $75,000 | $75,000 | $78,000 | $78,000 |
| 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) | 762 | $67,317,000 | $88,000 | $500,000 | $65,000 | $475,000 |
| VA-guaranteed (Veterans Administration) | 1 | $30,000 | $30,000 | $30,000 | $48,000 | $48,000 |
| 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 |
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 | 451 | $34,009,000 | $75,000 | $412,000 | $69,000 | $475,000 |
| Application Denied By Financial Institution | 137 | $13,135,000 | $95,000 | $300,000 | $53,000 | $168,000 |
| Application Withdrawn By Applicant | 106 | $10,633,000 | $100,000 | $500,000 | $67,000 | $466,000 |
| Application Approved But Not Accepted | 56 | $7,585,000 | $135,000 | $260,000 | $52,000 | $112,000 |
| Preapproval Approved but not Accepted | 10 | $1,862,000 | $186,000 | $360,000 | $62,000 | $110,000 |
| File Closed For Incompleteness | 3 | $123,000 | $41,000 | $75,000 | $55,000 | $70,000 |
| Loan Purchased By The Institution | 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 |
|---|---|---|---|---|---|---|
| Credit History | 77 | $6,172,000 | $80,000 | $300,000 | $55,000 | $156,000 |
| Debt-To-Income Ratio | 54 | $6,176,000 | $114,000 | $279,000 | $48,000 | $140,000 |
| Employment History | 2 | $429,000 | $214,000 | $279,000 | $48,000 | $75,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $288,000 | $144,000 | $170,000 | $53,000 | $58,000 |
| Unverifiable Information | 2 | $70,000 | $35,000 | $40,000 | $121,000 | $168,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Insight Credit Union's 2006 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 Insight 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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