Inspired Financial Services, LLC Mortgage Lending & HMDA Data, 2015
In 2015, Inspired Financial Services, LLC of Cedar Falls, IA reported 151 mortgage applications totaling $18.7 million, down 16% from 2014. The average application was for $123,933, and applicants reported an average income of $57,562. 79% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Waterloo-Cedar Falls, IA (12), Cedar Rapids, IA (9) and Des Moines-West Des Moines, IA (7) (applications in parentheses).
| Mortgage Company & Address | Inspired Financial Services, LLC 2708 Bicentennial Dr, Ste A Cedar Falls, IA 50613 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2017 2016 2015 2014 2013 |
| Total Number of Mortgage Applications | 151 |
| Total Mortgage Loan Application Amount | $18,714,000 |
| Average Mortgage Loan Application Amount | $123,933 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $57,562 |
| Highest Applicant Income | $196,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Inspired Financial Services, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Page, Iowa | 9 | $ 1,080,000 | $ 120,000 | $ 64,000 |
| Rock, Minnesota | 9 | $ 1,218,000 | $ 135,333 | $ 76,000 |
| Cherokee, Iowa | 7 | $ 645,000 | $ 92,142 | $ 61,000 |
| Hardin, Iowa | 7 | $ 576,000 | $ 82,285 | $ 39,000 |
| Worth, Iowa | 7 | $ 740,000 | $ 105,714 | $ 45,000 |
| Cerro Gordo, Iowa | 6 | $ 512,000 | $ 85,333 | $ 43,000 |
| Grundy, Iowa | 5 | $ 428,000 | $ 85,600 | $ 42,000 |
| Story, Iowa | 5 | $ 962,000 | $ 192,400 | $ 85,000 |
| Benton, Iowa | 4 | $ 660,000 | $ 165,000 | $ 80,000 |
| Bremer, Iowa | 4 | $ 496,000 | $ 124,000 | $ 54,000 |
| Butler, Iowa | 4 | $ 534,000 | $ 133,500 | $ 66,000 |
| Cass, Iowa | 4 | $ 261,000 | $ 65,250 | $ 38,000 |
| Dickinson, Iowa | 4 | $ 394,000 | $ 98,500 | $ 60,000 |
| Emmet, Iowa | 4 | $ 346,000 | $ 86,500 | $ 35,000 |
| Linn, Iowa | 4 | $ 911,000 | $ 227,750 | $ 80,000 |
| Tama, Iowa | 4 | $ 304,000 | $ 76,000 | $ 31,000 |
| Black Hawk, Iowa | 3 | $ 373,000 | $ 124,333 | $ 76,000 |
| Dallas, Iowa | 3 | $ 666,000 | $ 222,000 | $ 68,000 |
| Fayette, Iowa | 3 | $ 202,000 | $ 67,333 | $ 27,000 |
| O'Brien, Iowa | 3 | $ 321,000 | $ 107,000 | $ 46,000 |
| Goodhue, Minnesota | 3 | $ 362,000 | $ 120,666 | $ 39,000 |
| Rice, Minnesota | 3 | $ 364,000 | $ 121,333 | $ 41,000 |
| Adams, Iowa | 2 | $ 448,000 | $ 224,000 | $ 66,000 |
| Clayton, Iowa | 2 | $ 152,000 | $ 76,000 | $ 24,000 |
| Kossuth, Iowa | 2 | $ 669,000 | $ 334,500 | $ 93,000 |
| Lyon, Iowa | 2 | $ 190,000 | $ 95,000 | $ 52,000 |
| Madison, Iowa | 2 | $ 230,000 | $ 115,000 | $ 47,000 |
| Marion, Iowa | 2 | $ 204,000 | $ 102,000 | $ 94,000 |
| Marshall, Iowa | 2 | $ 300,000 | $ 150,000 | $ 69,000 |
| Polk, Iowa | 2 | $ 487,000 | $ 243,500 | $ 124,000 |
| Ringgold, Iowa | 2 | $ 146,000 | $ 73,000 | $ 46,000 |
| Scott, Iowa | 2 | $ 364,000 | $ 182,000 | $ 44,000 |
| Winnebago, Iowa | 2 | $ 290,000 | $ 145,000 | $ 80,000 |
| Dodge, Minnesota | 2 | $ 203,000 | $ 101,500 | $ 34,000 |
| Cook, Illinois | 1 | $ 231,000 | $ 231,000 | $ 105,000 |
| Mercer, Illinois | 1 | $ 90,000 | $ 90,000 | $ 103,000 |
| Audubon, Iowa | 1 | $ 86,000 | $ 86,000 | $ 84,000 |
| Buchanan, Iowa | 1 | $ 139,000 | $ 139,000 | $ 52,000 |
| Cedar, Iowa | 1 | $ 65,000 | $ 65,000 | $ 50,000 |
| Floyd, Iowa | 1 | $ 133,000 | $ 133,000 | $ 36,000 |
| Hancock, Iowa | 1 | $ 126,000 | $ 126,000 | $ 60,000 |
| Henry, Iowa | 1 | $ 69,000 | $ 69,000 | $ 25,000 |
| Jones, Iowa | 1 | $ 116,000 | $ 116,000 | $ 58,000 |
| Mitchell, Iowa | 1 | $ 82,000 | $ 82,000 | $ 69,000 |
| Osceola, Iowa | 1 | $ 75,000 | $ 75,000 | $ 26,000 |
| Plymouth, Iowa | 1 | $ 80,000 | $ 80,000 | $ 74,000 |
| Poweshiek, Iowa | 1 | $ 271,000 | $ 271,000 | $ 66,000 |
| Sioux, Iowa | 1 | $ 150,000 | $ 150,000 | $ 66,000 |
| Taylor, Iowa | 1 | $ 92,000 | $ 92,000 | $ 57,000 |
| Union, Iowa | 1 | $ 55,000 | $ 55,000 | $ 29,000 |
| Wapello, Iowa | 1 | $ 74,000 | $ 74,000 | $ 48,000 |
| Olmsted, Minnesota | 1 | $ 160,000 | $ 160,000 | $ 62,000 |
| Wabasha, Minnesota | 1 | $ 133,000 | $ 133,000 | $ 60,000 |
| Minnehaha, South Dakota | 1 | $ 216,000 | $ 216,000 | $ 85,000 |
| Dane, Wisconsin | 1 | $ 152,000 | $ 152,000 | $ 63,000 |
| Vernon, Wisconsin | 1 | $ 81,000 | $ 81,000 | $ 51,000 |
Mortgage Loan Application Detail Totals for Inspired Financial Services, LLC in 2015
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 Purchase | 108 | $12,250,000 | $113,000 | $417,000 | $55,000 | $196,000 |
| Refinancing | 43 | $6,464,000 | $150,000 | $349,000 | $64,000 | $138,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 150 | $18,655,000 | $124,000 | $417,000 | $58,000 | $196,000 |
| Hispanic | 1 | $59,000 | $59,000 | $59,000 | $22,000 | $22,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 83 | $12,166,000 | $146,000 | $417,000 | $69,000 | $196,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 68 | $6,548,000 | $96,000 | $252,000 | $43,000 | $87,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 119 | $15,091,000 | $126,000 | $417,000 | $58,000 | $196,000 |
| Application Denied By Financial Institution | 32 | $3,623,000 | $113,000 | $300,000 | $54,000 | $136,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 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 |
|---|---|---|---|---|---|---|
| Credit History | 14 | $1,481,000 | $105,000 | $233,000 | $54,000 | $120,000 |
| Debt-To-Income Ratio | 12 | $1,325,000 | $110,000 | $255,000 | $52,000 | $103,000 |
| Collateral | 4 | $620,000 | $155,000 | $300,000 | $66,000 | $136,000 |
| Other | 1 | $160,000 | $160,000 | $160,000 | $62,000 | $62,000 |
| Employment History | 1 | $37,000 | $37,000 | $37,000 | $33,000 | $33,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Inspired Financial Services, LLC's 2015 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 Inspired Financial Services, LLC'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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