Iroquois Federal Savings & Loa Mortgage Lending & HMDA Data, 2009
In 2009, Iroquois Federal Savings & Loa of Watseka, IL reported 790 mortgage applications totaling $76.7 million, up 52% from 2008. The average application was for $97,075, and applicants reported an average income of $70,103. 67% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Danville, IL (350), Kankakee-Bradley, IL (20) and Champaign-Urbana, IL (18) (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 | 790 |
| Total Mortgage Loan Application Amount | $76,690,000 |
| Average Mortgage Loan Application Amount | $97,075 |
| Highest Mortgage Loan Application Amount | $1,914,000 |
| Average Applicant Income | $70,103 |
| Highest Applicant Income | $1,239,000 |
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records Iroquois Federal Savings & Loa filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 350 | $ 28,910,000 | $ 82,600 | $ 63,000 |
| Iroquois, Illinois | 215 | $ 19,173,000 | $ 89,176 | $ 64,000 |
| Camden, Missouri | 23 | $ 6,348,000 | $ 276,000 | $ 201,000 |
| Kankakee, Illinois | 20 | $ 2,961,000 | $ 148,050 | $ 71,000 |
| Champaign, Illinois | 15 | $ 4,576,000 | $ 305,066 | $ 110,000 |
| Fountain, Indiana | 15 | $ 1,169,000 | $ 77,933 | $ 54,000 |
| Newton, Indiana | 10 | $ 973,000 | $ 97,300 | $ 66,000 |
| Vermillion, Indiana | 10 | $ 747,000 | $ 74,700 | $ 73,000 |
| Warren, Indiana | 7 | $ 545,000 | $ 77,857 | $ 65,000 |
| Douglas, Illinois | 4 | $ 309,000 | $ 77,250 | $ 40,000 |
| Ford, Illinois | 3 | $ 291,000 | $ 97,000 | $ 41,000 |
| McLean, Illinois | 3 | $ 267,000 | $ 89,000 | $ 89,000 |
| Cook, Illinois | 2 | $ 463,000 | $ 231,500 | $ 413,000 |
| Benton, Indiana | 2 | $ 140,000 | $ 70,000 | $ 34,000 |
| Hamilton, Indiana | 2 | $ 242,000 | $ 121,000 | $ 134,000 |
| Grand Traverse, Michigan | 2 | $ 115,000 | $ 57,500 | $ 337,000 |
| Miller, Missouri | 2 | $ 732,000 | $ 366,000 | $ 258,000 |
| Edgar, Illinois | 1 | $ 107,000 | $ 107,000 | $ 69,000 |
| Grundy, Illinois | 1 | $ 110,000 | $ 110,000 | $ 101,000 |
| Jo Daviess, Illinois | 1 | $ 193,000 | $ 193,000 | $ 153,000 |
| Lake, Illinois | 1 | $ 182,000 | $ 182,000 | $ 113,000 |
| LaSalle, Illinois | 1 | $ 136,000 | $ 136,000 | $ 68,000 |
| Will, Illinois | 1 | $ 155,000 | $ 155,000 | $ 135,000 |
| Tippecanoe, Indiana | 1 | $ 100,000 | $ 100,000 | $ 0 |
| Greene, Missouri | 1 | $ 312,000 | $ 312,000 | $ 61,000 |
| Macon, Missouri | 1 | $ 64,000 | $ 64,000 | $ 0 |
| Morgan, Missouri | 1 | $ 150,000 | $ 150,000 | $ 88,000 |
| St. Charles, Missouri | 1 | $ 308,000 | $ 308,000 | $ 128,000 |
| St. Louis, Missouri | 1 | $ 417,000 | $ 417,000 | $ 714,000 |
| St. Louis City, Missouri | 1 | $ 480,000 | $ 480,000 | $ 1,236,000 |
Mortgage Loan Application Detail Totals for Iroquois Federal Savings & Loa 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 | 374 | $40,659,000 | $108,000 | $955,000 | $79,000 | $1,239,000 |
| Home Purchase | 323 | $28,822,000 | $89,000 | $1,080,000 | $63,000 | $1,236,000 |
| Home Improvement | 93 | $7,209,000 | $77,000 | $1,914,000 | $59,000 | $337,000 |
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 | 712 | $67,624,000 | $94,000 | $1,080,000 | $72,000 | $1,239,000 |
| Hispanic | 25 | $2,417,000 | $96,000 | $373,000 | $66,000 | $234,000 |
| Black or African American | 23 | $1,270,000 | $55,000 | $148,000 | $45,000 | $122,000 |
| Not applicable | 11 | $3,397,000 | $308,000 | $1,914,000 | $0 | $0 |
| Not Provided | 11 | $1,086,000 | $98,000 | $250,000 | $74,000 | $153,000 |
| American Indian or Alaskan Native | 4 | $432,000 | $108,000 | $154,000 | $55,000 | $75,000 |
| Asian | 3 | $408,000 | $136,000 | $325,000 | $190,000 | $300,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $56,000 | $56,000 | $56,000 | $42,000 | $42,000 |
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) | 790 | $76,690,000 | $97,000 | $1,914,000 | $70,000 | $1,239,000 |
| 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 | 527 | $53,125,000 | $100,000 | $1,914,000 | $78,000 | $1,239,000 |
| Application Denied By Financial Institution | 94 | $9,266,000 | $98,000 | $596,000 | $56,000 | $291,000 |
| Preapproval Denied by Financial Institution | 92 | $6,015,000 | $65,000 | $185,000 | $40,000 | $250,000 |
| Application Withdrawn By Applicant | 43 | $4,721,000 | $109,000 | $308,000 | $73,000 | $180,000 |
| File Closed For Incompleteness | 25 | $2,475,000 | $99,000 | $260,000 | $64,000 | $153,000 |
| Application Approved But Not Accepted | 9 | $1,088,000 | $120,000 | $493,000 | $65,000 | $121,000 |
| 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 | 69 | $4,265,000 | $61,000 | $290,000 | $43,000 | $122,000 |
| Debt-To-Income Ratio | 66 | $5,568,000 | $84,000 | $596,000 | $42,000 | $291,000 |
| Collateral | 21 | $3,031,000 | $144,000 | $403,000 | $73,000 | $142,000 |
| Employment History | 13 | $876,000 | $67,000 | $200,000 | $31,000 | $78,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 12 | $1,172,000 | $97,000 | $347,000 | $80,000 | $250,000 |
| Other | 3 | $195,000 | $65,000 | $100,000 | $67,000 | $72,000 |
| Credit Application Incomplete | 1 | $31,000 | $31,000 | $31,000 | $52,000 | $52,000 |
| Mortgage Insurance Denied | 1 | $143,000 | $143,000 | $143,000 | $88,000 | $88,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Iroquois Federal Savings & Loa'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 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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