Iroquois Federal Savings & Loa Mortgage Lending & HMDA Data, 2008
In 2008, Iroquois Federal Savings & Loa of Watseka, IL reported 519 mortgage applications totaling $50.3 million, up 13% from 2007. The average application was for $96,963, and applicants reported an average income of $61,949. 68% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Danville, IL (220), Champaign-Urbana, IL (21) and Kankakee-Bradley, IL (20) (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 | 519 |
| Total Mortgage Loan Application Amount | $50,324,000 |
| Average Mortgage Loan Application Amount | $96,963 |
| Highest Mortgage Loan Application Amount | $2,800,000 |
| Average Applicant Income | $61,949 |
| Highest Applicant Income | $543,000 |
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records Iroquois Federal Savings & Loa filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 220 | $ 17,138,000 | $ 77,900 | $ 62,000 |
| Champaign-Urbana, IL | 21 | $ 6,502,000 | $ 309,619 | $ 24,000 |
| Kankakee-Bradley, IL | 20 | $ 2,682,000 | $ 134,100 | $ 76,000 |
| Terre Haute, IN | 5 | $ 325,000 | $ 65,000 | $ 51,000 |
| Chicago-Naperville-Joliet, IL | 3 | $ 636,000 | $ 212,000 | $ 104,000 |
| Bloomington-Normal, IL | 1 | $ 119,000 | $ 119,000 | $ 62,000 |
| Brunswick, GA | 1 | $ 300,000 | $ 300,000 | $ 91,000 |
| Gary, IN | 1 | $ 100,000 | $ 100,000 | $ 64,000 |
| Indianapolis-Carmel, IN | 1 | $ 240,000 | $ 240,000 | $ 58,000 |
| Lafayette, IN | 1 | $ 78,000 | $ 78,000 | $ 134,000 |
Mortgage Loan Application Detail Totals for Iroquois Federal Savings & Loa in 2008
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 | 270 | $23,826,000 | $88,000 | $1,537,000 | $56,000 | $356,000 |
| Refinancing | 137 | $20,037,000 | $146,000 | $2,800,000 | $72,000 | $543,000 |
| Home Improvement | 112 | $6,461,000 | $57,000 | $425,000 | $64,000 | $480,000 |
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 | 467 | $39,168,000 | $83,000 | $1,450,000 | $65,000 | $543,000 |
| Not applicable | 20 | $8,317,000 | $415,000 | $2,800,000 | $0 | $0 |
| Black or African American | 13 | $519,000 | $39,000 | $77,000 | $40,000 | $103,000 |
| Hispanic | 9 | $730,000 | $81,000 | $234,000 | $51,000 | $111,000 |
| Not Provided | 7 | $1,352,000 | $193,000 | $794,000 | $89,000 | $328,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $178,000 | $178,000 | $178,000 | $0 | $0 |
| American Indian or Alaskan Native | 1 | $10,000 | $10,000 | $10,000 | $17,000 | $17,000 |
| Asian | 1 | $50,000 | $50,000 | $50,000 | $129,000 | $129,000 |
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) | 519 | $50,324,000 | $96,000 | $2,800,000 | $62,000 | $543,000 |
| 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 | 354 | $38,702,000 | $109,000 | $2,800,000 | $66,000 | $543,000 |
| Preapproval Denied by Financial Institution | 75 | $4,514,000 | $60,000 | $169,000 | $38,000 | $92,000 |
| Application Denied By Financial Institution | 57 | $4,572,000 | $80,000 | $475,000 | $56,000 | $148,000 |
| Application Withdrawn By Applicant | 19 | $1,444,000 | $76,000 | $250,000 | $86,000 | $480,000 |
| Application Approved But Not Accepted | 11 | $845,000 | $76,000 | $417,000 | $77,000 | $288,000 |
| Preapproval Approved but not Accepted | 2 | $189,000 | $94,000 | $109,000 | $59,000 | $66,000 |
| File Closed For Incompleteness | 1 | $58,000 | $58,000 | $58,000 | $31,000 | $31,000 |
| Loan Purchased By The Institution | 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 | 72 | $4,245,000 | $58,000 | $213,000 | $48,000 | $148,000 |
| Debt-To-Income Ratio | 37 | $3,082,000 | $83,000 | $475,000 | $37,000 | $87,000 |
| Collateral | 7 | $844,000 | $120,000 | $202,000 | $78,000 | $126,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 7 | $422,000 | $60,000 | $97,000 | $39,000 | $56,000 |
| Employment History | 4 | $164,000 | $41,000 | $85,000 | $37,000 | $50,000 |
| Mortgage Insurance Denied | 3 | $212,000 | $70,000 | $82,000 | $44,000 | $92,000 |
| Other | 2 | $117,000 | $58,000 | $81,000 | $44,000 | $54,000 |
| 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 2008 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.
For a list of all lenders in Illinois, download the full spreadsheet
with aggregated HMDA statistics today.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About