Iroquois Federal Savings & Loa Mortgage Lending & HMDA Data, 2010
In 2010, Iroquois Federal Savings & Loa of Watseka, IL reported 620 mortgage applications totaling $71.1 million, down 22% from 2009. The average application was for $114,740, and applicants reported an average income of $81,983. 71% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Danville, IL (341), Champaign-Urbana, IL (24) and Kankakee-Bradley, IL (22) (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 | 620 |
| Total Mortgage Loan Application Amount | $71,139,000 |
| Average Mortgage Loan Application Amount | $114,740 |
| Highest Mortgage Loan Application Amount | $5,800,000 |
| Average Applicant Income | $81,983 |
| Highest Applicant Income | $2,149,000 |
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records Iroquois Federal Savings & Loa filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Danville, IL | 341 | $ 30,267,000 | $ 88,759 | $ 72,000 |
| Champaign-Urbana, IL | 24 | $ 10,178,000 | $ 424,083 | $ 36,000 |
| Kankakee-Bradley, IL | 22 | $ 2,897,000 | $ 131,681 | $ 90,000 |
| Gary, IN | 8 | $ 730,000 | $ 91,250 | $ 80,000 |
| Lafayette, IN | 6 | $ 330,000 | $ 55,000 | $ 50,000 |
| Chicago-Joliet-Naperville, IL | 5 | $ 574,000 | $ 114,800 | $ 300,000 |
| Terre Haute, IN | 4 | $ 277,000 | $ 69,250 | $ 54,000 |
| Columbia, MO | 2 | $ 301,000 | $ 150,500 | $ 55,000 |
| Fort Worth-Arlington, TX | 1 | $ 144,000 | $ 144,000 | $ 55,000 |
| Indianapolis-Carmel, IN | 1 | $ 75,000 | $ 75,000 | $ 154,000 |
| Jefferson City, MO | 1 | $ 417,000 | $ 417,000 | $ 315,000 |
| Peoria, IL | 1 | $ 94,000 | $ 94,000 | $ 553,000 |
| St. Louis, MO-IL | 1 | $ 260,000 | $ 260,000 | $ 132,000 |
Mortgage Loan Application Detail Totals for Iroquois Federal Savings & Loa in 2010
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 | 302 | $39,003,000 | $129,000 | $5,800,000 | $87,000 | $2,149,000 |
| Home Purchase | 241 | $26,192,000 | $108,000 | $1,050,000 | $84,000 | $1,044,000 |
| Home Improvement | 77 | $5,944,000 | $77,000 | $550,000 | $56,000 | $171,000 |
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 | 572 | $64,086,000 | $112,000 | $5,800,000 | $85,000 | $2,149,000 |
| Not applicable | 17 | $4,131,000 | $243,000 | $610,000 | $0 | $0 |
| Black or African American | 11 | $493,000 | $44,000 | $107,000 | $43,000 | $103,000 |
| Not Provided | 10 | $1,359,000 | $135,000 | $275,000 | $129,000 | $300,000 |
| Hispanic | 6 | $701,000 | $116,000 | $322,000 | $59,000 | $90,000 |
| American Indian or Alaskan Native | 3 | $327,000 | $109,000 | $167,000 | $51,000 | $72,000 |
| Asian | 1 | $42,000 | $42,000 | $42,000 | $32,000 | $32,000 |
| 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) | 620 | $71,139,000 | $114,000 | $5,800,000 | $82,000 | $2,149,000 |
| 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 | 438 | $52,736,000 | $120,000 | $5,800,000 | $87,000 | $2,149,000 |
| Application Denied By Financial Institution | 104 | $9,150,000 | $87,000 | $417,000 | $57,000 | $315,000 |
| Application Withdrawn By Applicant | 43 | $5,380,000 | $125,000 | $1,050,000 | $101,000 | $1,044,000 |
| File Closed For Incompleteness | 14 | $1,512,000 | $108,000 | $200,000 | $80,000 | $170,000 |
| Preapproval Denied by Financial Institution | 13 | $807,000 | $62,000 | $121,000 | $36,000 | $61,000 |
| Application Approved But Not Accepted | 8 | $1,554,000 | $194,000 | $925,000 | $109,000 | $415,000 |
| 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 | 46 | $2,821,000 | $61,000 | $175,000 | $49,000 | $123,000 |
| Debt-To-Income Ratio | 38 | $3,620,000 | $95,000 | $417,000 | $49,000 | $315,000 |
| Collateral | 23 | $2,356,000 | $102,000 | $322,000 | $74,000 | $135,000 |
| Other | 6 | $857,000 | $142,000 | $244,000 | $76,000 | $130,000 |
| Employment History | 2 | $106,000 | $53,000 | $84,000 | $8,000 | $17,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $197,000 | $98,000 | $121,000 | $61,000 | $64,000 |
| 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 Iroquois Federal Savings & Loa's 2010 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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