Iroquois Federal Savings & Loa Mortgage Lending & HMDA Data, 2005
In 2005, Iroquois Federal Savings & Loa of Watseka, IL reported 548 mortgage applications totaling $41.0 million, down 15% from 2004. The average application was for $74,815, and applicants reported an average income of $59,697. 74% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Danville, IL (323), Kankakee-Bradley, IL (26) and Champaign-Urbana, IL (10) (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 | 548 |
| Total Mortgage Loan Application Amount | $40,999,000 |
| Average Mortgage Loan Application Amount | $74,815 |
| Highest Mortgage Loan Application Amount | $1,180,000 |
| Average Applicant Income | $59,697 |
| Highest Applicant Income | $430,000 |
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records Iroquois Federal Savings & Loa filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 323 | $ 22,854,000 | $ 70,755 | $ 48,000 |
| Kankakee-Bradley, IL | 26 | $ 2,915,000 | $ 112,115 | $ 76,000 |
| Champaign-Urbana, IL | 10 | $ 1,097,000 | $ 109,700 | $ 98,000 |
| Gary, IN | 9 | $ 1,726,000 | $ 191,777 | $ 96,000 |
| Lafayette, IN | 2 | $ 231,000 | $ 115,500 | $ 88,000 |
| Terre Haute, IN | 2 | $ 65,000 | $ 32,500 | $ 36,000 |
| Bloomington-Normal, IL | 1 | $ 86,000 | $ 86,000 | $ 51,000 |
| Chicago-Naperville-Joliet, IL | 1 | $ 180,000 | $ 180,000 | $ 58,000 |
| Punta Gorda, FL | 1 | $ 25,000 | $ 25,000 | $ 49,000 |
Mortgage Loan Application Detail Totals for Iroquois Federal Savings & Loa in 2005
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 | 252 | $21,760,000 | $87,000 | $720,000 | $62,500 | $430,000 |
| Home Improvement | 162 | $8,227,000 | $75,666 | $1,180,000 | $64,000 | $384,000 |
| Refinancing | 134 | $11,012,000 | $76,000 | $490,000 | $56,000 | $279,000 |
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 | 523 | $39,782,000 | $80,600 | $1,180,000 | $61,800 | $430,000 |
| Black or African American | 10 | $351,000 | $40,500 | $98,000 | $59,500 | $94,000 |
| Hispanic | 8 | $632,000 | $76,500 | $252,000 | $52,500 | $109,000 |
| Not applicable | 3 | $114,000 | $38,000 | $74,000 | $0 | $0 |
| Not Provided | 1 | $40,000 | $40,000 | $40,000 | $28,000 | $28,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $34,000 | $34,000 | $34,000 | $18,000 | $18,000 |
| American Indian or Alaskan Native | 1 | $28,000 | $28,000 | $28,000 | $46,000 | $46,000 |
| Asian | 1 | $18,000 | $18,000 | $18,000 | $30,000 | $30,000 |
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) | 548 | $40,999,000 | $79,600 | $1,180,000 | $60,400 | $430,000 |
| 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 | 404 | $29,873,000 | $78,500 | $720,000 | $63,250 | $430,000 |
| Application Denied By Financial Institution | 86 | $5,551,000 | $80,500 | $326,000 | $51,000 | $129,000 |
| Application Withdrawn By Applicant | 31 | $3,666,000 | $189,333 | $1,180,000 | $89,000 | $384,000 |
| File Closed For Incompleteness | 13 | $1,057,000 | $76,000 | $143,000 | $52,000 | $124,000 |
| Application Approved But Not Accepted | 7 | $598,000 | $85,000 | $200,000 | $51,000 | $116,000 |
| Preapproval Denied by Financial Institution | 7 | $254,000 | $39,500 | $68,000 | $45,000 | $69,000 |
| 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 | 43 | $2,170,000 | $42,500 | $123,000 | $43,500 | $114,000 |
| Debt-To-Income Ratio | 37 | $2,724,000 | $68,000 | $326,000 | $54,333 | $129,000 |
| Collateral | 6 | $603,000 | $91,500 | $240,000 | $57,000 | $126,000 |
| Employment History | 5 | $151,000 | $30,000 | $59,000 | $22,000 | $32,000 |
| Credit Application Incomplete | 1 | $107,000 | $107,000 | $107,000 | $69,000 | $69,000 |
| Unverifiable Information | 1 | $50,000 | $50,000 | $50,000 | $94,000 | $94,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 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 Iroquois Federal Savings & Loa's 2005 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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