Irwin Home Equity Corporation Mortgage Lending & HMDA Data, 2008
In 2008, Irwin Home Equity Corporation of Columbus, IN reported 855 mortgage applications totaling $158.4 million, down 91% from 2007. The average application was for $185,242, and applicants reported an average income of $100,783. 16% of its applications resulted in an originated loan and 75% were denied. Its largest markets were St. Louis, MO-IL (46), Los Angeles-Long Beach-Glendale, CA (38) and Denver-Aurora, CO (31) (applications in parentheses).
| Mortgage Company & Address | Irwin Home Equity Corporation 500 Washington St Columbus, IN 47201 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 |
| Total Number of Mortgage Applications | 855 |
| Total Mortgage Loan Application Amount | $158,382,000 |
| Average Mortgage Loan Application Amount | $185,242 |
| Highest Mortgage Loan Application Amount | $730,000 |
| Average Applicant Income | $100,783 |
| Highest Applicant Income | $663,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Irwin Home Equity Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Irwin Home Equity Corporation 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 |
|---|---|---|---|---|---|---|
| Refinancing | 776 | $145,501,000 | $187,000 | $730,000 | $101,000 | $663,000 |
| Home Improvement | 50 | $5,375,000 | $107,000 | $482,000 | $106,000 | $297,000 |
| Home Purchase | 29 | $7,506,000 | $258,000 | $570,000 | $86,000 | $233,000 |
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 | 528 | $87,753,000 | $166,000 | $670,000 | $98,000 | $663,000 |
| Not Provided | 136 | $26,985,000 | $198,000 | $730,000 | $106,000 | $551,000 |
| Black or African American | 68 | $14,833,000 | $218,000 | $648,000 | $94,000 | $181,000 |
| Hispanic | 64 | $15,227,000 | $237,000 | $620,000 | $114,000 | $299,000 |
| Asian | 33 | $8,000,000 | $242,000 | $570,000 | $98,000 | $185,000 |
| Not applicable | 19 | $3,642,000 | $191,000 | $565,000 | $120,000 | $268,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $1,942,000 | $277,000 | $468,000 | $95,000 | $173,000 |
| American Indian or Alaskan Native | 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) | 852 | $157,596,000 | $184,000 | $730,000 | $101,000 | $663,000 |
| FHA-insured (Federal Housing Administration) | 3 | $786,000 | $262,000 | $417,000 | $62,000 | $72,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 641 | $122,840,000 | $191,000 | $730,000 | $101,000 | $663,000 |
| Loan Originated | 136 | $22,177,000 | $163,000 | $670,000 | $104,000 | $241,000 |
| Application Withdrawn By Applicant | 55 | $9,146,000 | $166,000 | $525,000 | $90,000 | $239,000 |
| Loan Purchased By The Institution | 19 | $3,642,000 | $191,000 | $565,000 | $120,000 | $268,000 |
| Application Approved But Not Accepted | 4 | $577,000 | $144,000 | $305,000 | $51,000 | $95,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Irwin Home Equity Corporation'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 Irwin Home Equity Corporation'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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