Irwin Union Savings Bank Mortgage Lending & HMDA Data, 2007
In 2007, Irwin Union Savings Bank of Columbus, IN reported 63 mortgage applications totaling $41.5 million, down 18% from 2006. The average application was for $658,857, and applicants reported an average income of $169,984. 65% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (27), Louisville-Jefferson County, KY-IN (10) and Albuquerque, NM (6) (applications in parentheses).
| Mortgage Company & Address | Irwin Union Savings Bank 500 Washington St Columbus, IN 47201 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 63 |
| Total Mortgage Loan Application Amount | $41,508,000 |
| Average Mortgage Loan Application Amount | $658,857 |
| Highest Mortgage Loan Application Amount | $6,000,000 |
| Average Applicant Income | $169,984 |
| Highest Applicant Income | $1,242,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Irwin Union Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Phoenix-Mesa-Scottsdale, AZ | 27 | $ 29,234,000 | $ 1,082,740 | $ 180,000 |
| Louisville-Jefferson County, KY-IN | 10 | $ 1,364,000 | $ 136,400 | $ 100,000 |
| Albuquerque, NM | 6 | $ 3,064,000 | $ 510,666 | $ 67,000 |
| St. Louis, MO-IL | 5 | $ 897,000 | $ 179,400 | $ 138,000 |
| Tucson, AZ | 4 | $ 2,384,000 | $ 596,000 | $ 13,000 |
| Milwaukee-Waukesha-West Allis, WI | 2 | $ 314,000 | $ 157,000 | $ 63,000 |
| Ann Arbor, MI | 1 | $ 209,000 | $ 209,000 | $ 120,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 210,000 | $ 210,000 | $ 331,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 334,000 | $ 334,000 | $ 291,000 |
| Reno-Sparks, NV | 1 | $ 45,000 | $ 45,000 | $ 32,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 1 | $ 1,000,000 | $ 1,000,000 | $ 0 |
| San Diego-Carlsbad-San Marcos, CA | 1 | $ 850,000 | $ 850,000 | $ 758,000 |
| San Francisco-San Mateo-Redwood City, CA | 1 | $ 975,000 | $ 975,000 | $ 750,000 |
Mortgage Loan Application Detail Totals for Irwin Union Savings Bank in 2007
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 | 39 | $18,227,000 | $467,000 | $2,700,000 | $111,000 | $540,000 |
| Home Purchase | 23 | $23,236,000 | $1,010,000 | $6,000,000 | $276,000 | $1,242,000 |
| Home Improvement | 1 | $45,000 | $45,000 | $45,000 | $32,000 | $32,000 |
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 | 28 | $10,902,000 | $389,000 | $1,738,000 | $284,000 | $1,242,000 |
| Not applicable | 13 | $24,696,000 | $1,899,000 | $6,000,000 | $0 | $0 |
| Not Provided | 10 | $4,102,000 | $410,000 | $1,050,000 | $163,000 | $873,000 |
| Black or African American | 7 | $812,000 | $116,000 | $265,000 | $105,000 | $185,000 |
| Hispanic | 3 | $599,000 | $199,000 | $417,000 | $95,000 | $126,000 |
| American Indian or Alaskan Native | 1 | $205,000 | $205,000 | $205,000 | $38,000 | $38,000 |
| Asian | 1 | $192,000 | $192,000 | $192,000 | $80,000 | $80,000 |
| 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) | 63 | $41,508,000 | $658,000 | $6,000,000 | $170,000 | $1,242,000 |
| 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 | 41 | $33,484,000 | $816,000 | $6,000,000 | $159,000 | $1,213,000 |
| Application Approved But Not Accepted | 9 | $3,155,000 | $350,000 | $975,000 | $174,000 | $750,000 |
| Application Denied By Financial Institution | 8 | $3,716,000 | $464,000 | $1,738,000 | $121,000 | $540,000 |
| Application Withdrawn By Applicant | 3 | $525,000 | $175,000 | $265,000 | $117,000 | $185,000 |
| Preapproval Denied by Financial Institution | 2 | $628,000 | $314,000 | $428,000 | $641,000 | $1,242,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 7 | $2,276,000 | $325,000 | $1,050,000 | $234,000 | $1,242,000 |
| Credit Application Incomplete | 1 | $200,000 | $200,000 | $200,000 | $40,000 | $40,000 |
| Employment History | 1 | $130,000 | $130,000 | $130,000 | $38,000 | $38,000 |
| Other | 1 | $1,738,000 | $1,738,000 | $1,738,000 | $540,000 | $540,000 |
| Unverifiable Information | 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Irwin Union Savings Bank's 2007 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 Union Savings Bank'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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