Iroquois Federal Savings & Loa Mortgage Lending & HMDA Data, 2007
In 2007, Iroquois Federal Savings & Loa of Watseka, IL reported 459 mortgage applications totaling $40.7 million, down 2% from 2006. The average application was for $88,651, and applicants reported an average income of $61,034. 70% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Danville, IL (230), Kankakee-Bradley, IL (16) and Champaign-Urbana, IL (12) (applications in parentheses).
| Mortgage Company & Address | Iroquois Federal Savings & Loa 201 E Cherry Street Watseka, IL 60970 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 459 |
| Total Mortgage Loan Application Amount | $40,691,000 |
| Average Mortgage Loan Application Amount | $88,651 |
| Highest Mortgage Loan Application Amount | $2,550,000 |
| Average Applicant Income | $61,034 |
| Highest Applicant Income | $720,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Iroquois Federal Savings & Loa filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Vermilion, Illinois | 230 | $ 18,266,000 | $ 79,417 | $ 59,000 |
| Iroquois, Illinois | 122 | $ 9,114,000 | $ 74,704 | $ 63,000 |
| Kankakee, Illinois | 16 | $ 1,572,000 | $ 98,250 | $ 71,000 |
| Champaign, Illinois | 10 | $ 4,155,000 | $ 415,500 | $ 36,000 |
| Warren, Indiana | 10 | $ 843,000 | $ 84,300 | $ 95,000 |
| Camden, Missouri | 6 | $ 635,000 | $ 105,833 | $ 50,000 |
| Fountain, Indiana | 4 | $ 274,000 | $ 68,500 | $ 39,000 |
| Newton, Indiana | 3 | $ 228,000 | $ 76,000 | $ 50,000 |
| Vermillion, Indiana | 3 | $ 164,000 | $ 54,666 | $ 70,000 |
| Cook, Illinois | 2 | $ 590,000 | $ 295,000 | $ 292,000 |
| Edgar, Illinois | 2 | $ 407,000 | $ 203,500 | $ 101,000 |
| Ford, Illinois | 2 | $ 128,000 | $ 64,000 | $ 47,000 |
| Benton, Indiana | 2 | $ 109,000 | $ 54,500 | $ 94,000 |
| Lake, Indiana | 2 | $ 876,000 | $ 438,000 | $ 204,000 |
| Morgan, Illinois | 1 | $ 55,000 | $ 55,000 | $ 47,000 |
| Hamilton, Indiana | 1 | $ 122,000 | $ 122,000 | $ 123,000 |
| Tippecanoe, Indiana | 1 | $ 25,000 | $ 25,000 | $ 150,000 |
Mortgage Loan Application Detail Totals for Iroquois Federal Savings & Loa in 2007
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 | 245 | $22,249,000 | $90,000 | $472,000 | $58,000 | $584,000 |
| Home Improvement | 109 | $5,662,000 | $51,000 | $220,000 | $65,000 | $720,000 |
| Refinancing | 105 | $12,780,000 | $121,000 | $2,550,000 | $64,000 | $321,000 |
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 | 413 | $34,308,000 | $83,000 | $626,000 | $60,000 | $321,000 |
| Hispanic | 18 | $1,074,000 | $59,000 | $210,000 | $89,000 | $720,000 |
| Black or African American | 14 | $942,000 | $67,000 | $245,000 | $40,000 | $131,000 |
| Not applicable | 9 | $3,983,000 | $442,000 | $2,550,000 | $64,000 | $584,000 |
| Not Provided | 2 | $170,000 | $85,000 | $100,000 | $41,000 | $47,000 |
| Asian | 2 | $112,000 | $56,000 | $72,000 | $97,000 | $165,000 |
| American Indian or Alaskan Native | 1 | $102,000 | $102,000 | $102,000 | $64,000 | $64,000 |
| 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) | 459 | $40,691,000 | $88,000 | $2,550,000 | $61,000 | $720,000 |
| 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 | 320 | $30,881,000 | $96,000 | $2,550,000 | $65,000 | $584,000 |
| Application Denied By Financial Institution | 63 | $4,199,000 | $66,000 | $360,000 | $54,000 | $720,000 |
| Preapproval Denied by Financial Institution | 42 | $3,128,000 | $74,000 | $239,000 | $40,000 | $103,000 |
| Application Withdrawn By Applicant | 27 | $1,961,000 | $72,000 | $194,000 | $61,000 | $320,000 |
| File Closed For Incompleteness | 4 | $252,000 | $63,000 | $81,000 | $34,000 | $46,000 |
| Application Approved But Not Accepted | 3 | $270,000 | $90,000 | $104,000 | $75,000 | $120,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 52 | $2,756,000 | $53,000 | $164,000 | $57,000 | $720,000 |
| Debt-To-Income Ratio | 37 | $3,352,000 | $90,000 | $360,000 | $36,000 | $87,000 |
| Employment History | 9 | $558,000 | $62,000 | $100,000 | $35,000 | $84,000 |
| Collateral | 4 | $433,000 | $108,000 | $245,000 | $71,000 | $131,000 |
| Mortgage Insurance Denied | 2 | $168,000 | $84,000 | $92,000 | $52,000 | $72,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $60,000 | $60,000 | $60,000 | $53,000 | $53,000 |
| Other | 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 Iroquois Federal Savings & Loa's 2007 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 Iroquois Federal Savings & Loa'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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