Laredo Federal Credit Union Mortgage Lending & HMDA Data, 2018
In 2018, Laredo Federal Credit Union of Laredo, TX reported 74 mortgage applications totaling $6.0 million, up 3% from 2017. The average application was for $80,675, and applicants reported an average income of $70,027. 35% of its applications resulted in an originated loan and 62% were denied. Its largest markets were Laredo, TX (72) and San Antonio-New Braunfels, TX (1).
| Mortgage Company & Address | Laredo Federal Credit Union 1119 Corpus Christi St. Laredo, TX 78040 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2003 |
| Total Number of Mortgage Applications | 74 |
| Total Mortgage Loan Application Amount | $5,970,000 |
| Average Mortgage Loan Application Amount | $80,675 |
| Highest Mortgage Loan Application Amount | $255,000 |
| Average Applicant Income | $70,027 |
| Highest Applicant Income | $192,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Laredo Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Webb, Texas | 72 | $ 5,820,000 | $ 80,833 | $ 72,000 |
| Bexar, Texas | 1 | $ 65,000 | $ 65,000 | $ 20,000 |
Mortgage Loan Application Detail Totals for Laredo Federal Credit Union in 2018
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 | 24 | $2,620,000 | $109,000 | $255,000 | $80,000 | $178,000 |
| Home Improvement | 21 | $1,205,000 | $57,000 | $165,000 | $73,000 | $192,000 |
| Cash-out Refinancing | 18 | $1,200,000 | $66,000 | $155,000 | $71,000 | $169,000 |
| Home Purchase | 10 | $900,000 | $90,000 | $155,000 | $36,000 | $64,000 |
| Not Applicable | 1 | $45,000 | $45,000 | $45,000 | $91,000 | $91,000 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 73 | $5,885,000 | $80,000 | $255,000 | $69,000 | $192,000 |
| White | 1 | $85,000 | $85,000 | $85,000 | $171,000 | $171,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 74 | $5,970,000 | $80,000 | $255,000 | $70,000 | $192,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 46 | $3,170,000 | $68,000 | $155,000 | $53,000 | $138,000 |
| Loan Originated | 26 | $2,640,000 | $101,000 | $255,000 | $104,000 | $192,000 |
| Preapproval Approved but not Accepted | 1 | $85,000 | $85,000 | $85,000 | $24,000 | $24,000 |
| Application Approved But Not Accepted | 1 | $75,000 | $75,000 | $75,000 | $23,000 | $23,000 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Withdrawn By Applicant | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 74 | $5,970,000 | $80,000 | $255,000 | $70,000 | $192,000 |
| 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 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Laredo Federal Credit Union's 2018 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 Laredo Federal Credit Union'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 Texas, download the full spreadsheet
with aggregated HMDA statistics today.
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