Iroquois Federal Savings & Loa Mortgage Lending & HMDA Data, 2006
In 2006, Iroquois Federal Savings & Loa of Watseka, IL reported 470 mortgage applications totaling $42.8 million, down 14% from 2005. The average application was for $91,165, and applicants reported an average income of $59,838. 73% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Danville, IL (254), Champaign-Urbana, IL (17) and Kankakee-Bradley, IL (16) (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 | 470 |
| Total Mortgage Loan Application Amount | $42,848,000 |
| Average Mortgage Loan Application Amount | $91,165 |
| Highest Mortgage Loan Application Amount | $2,760,000 |
| Average Applicant Income | $59,838 |
| Highest Applicant Income | $1,071,000 |
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records Iroquois Federal Savings & Loa filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 254 | $ 18,647,000 | $ 73,413 | $ 61,000 |
| Champaign-Urbana, IL | 17 | $ 6,403,000 | $ 376,647 | $ 54,000 |
| Kankakee-Bradley, IL | 16 | $ 1,723,000 | $ 107,687 | $ 63,000 |
| Gary, IN | 6 | $ 1,262,000 | $ 210,333 | $ 253,000 |
| Terre Haute, IN | 4 | $ 421,000 | $ 105,250 | $ 58,000 |
| Lafayette, IN | 3 | $ 252,000 | $ 84,000 | $ 62,000 |
| Naples-Marco Island, FL | 2 | $ 1,828,000 | $ 914,000 | $ 60,000 |
| Chicago-Naperville-Joliet, IL | 1 | $ 150,000 | $ 150,000 | $ 52,000 |
Mortgage Loan Application Detail Totals for Iroquois Federal Savings & Loa in 2006
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 | 246 | $27,046,000 | $109,000 | $2,760,000 | $57,000 | $324,000 |
| Home Improvement | 117 | $6,097,000 | $52,000 | $300,000 | $62,000 | $390,000 |
| Refinancing | 107 | $9,705,000 | $90,000 | $846,000 | $64,000 | $1,071,000 |
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 | 435 | $35,457,000 | $81,000 | $1,000,000 | $61,000 | $1,071,000 |
| Not applicable | 11 | $5,524,000 | $502,000 | $2,760,000 | $13,000 | $144,000 |
| Black or African American | 10 | $609,000 | $60,000 | $213,000 | $48,000 | $72,000 |
| Hispanic | 8 | $477,000 | $59,000 | $150,000 | $45,000 | $99,000 |
| Asian | 3 | $245,000 | $81,000 | $160,000 | $50,000 | $77,000 |
| Not Provided | 3 | $536,000 | $178,000 | $380,000 | $78,000 | $134,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 470 | $42,848,000 | $91,000 | $2,760,000 | $60,000 | $1,071,000 |
| 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 | 344 | $30,634,000 | $89,000 | $1,800,000 | $65,000 | $1,071,000 |
| Application Denied By Financial Institution | 72 | $6,178,000 | $85,000 | $450,000 | $49,000 | $140,000 |
| Application Withdrawn By Applicant | 23 | $1,315,000 | $57,000 | $250,000 | $47,000 | $125,000 |
| Preapproval Denied by Financial Institution | 19 | $1,043,000 | $54,000 | $112,000 | $26,000 | $49,000 |
| Application Approved But Not Accepted | 6 | $3,053,000 | $508,000 | $2,760,000 | $39,000 | $73,000 |
| File Closed For Incompleteness | 6 | $625,000 | $104,000 | $275,000 | $46,000 | $108,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 47 | $5,007,000 | $106,000 | $450,000 | $45,000 | $118,000 |
| Credit History | 36 | $1,754,000 | $48,000 | $152,000 | $43,000 | $140,000 |
| Employment History | 5 | $179,000 | $35,000 | $56,000 | $37,000 | $60,000 |
| Collateral | 2 | $220,000 | $110,000 | $112,000 | $58,000 | $74,000 |
| Unverifiable Information | 1 | $61,000 | $61,000 | $61,000 | $30,000 | $30,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 2006 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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