M/I Financial Corp. Mortgage Lending & HMDA Data, 2010
In 2010, M/I Financial Corp. of Columbus, OH reported 2,433 mortgage applications totaling $526.5 million, down 4% from 2009. The average application was for $216,407, and applicants reported an average income of $88,152. 76% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Columbus, OH (671), Indianapolis-Carmel, IN (261) and Cincinnati-Middletown, OH-KY-IN (247) (applications in parentheses).
| Mortgage Company & Address | M/I Financial Corp. 3 Easton Oval, Suite 540 Columbus, OH 43219 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 2,433 |
| Total Mortgage Loan Application Amount | $526,520,000 |
| Average Mortgage Loan Application Amount | $216,407 |
| Highest Mortgage Loan Application Amount | $615,000 |
| Average Applicant Income | $88,152 |
| Highest Applicant Income | $1,409,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records M/I Financial Corp. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 M/I Financial Corp. in 2010
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 | 2,371 | $510,784,000 | $215,000 | $578,000 | $88,000 | $1,409,000 |
| Refinancing | 62 | $15,736,000 | $253,000 | $615,000 | $94,000 | $325,000 |
| Home Improvement | 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 |
|---|---|---|---|---|---|---|
| White | 1,628 | $345,024,000 | $211,000 | $615,000 | $89,000 | $477,000 |
| Asian | 283 | $67,228,000 | $237,000 | $478,000 | $94,000 | $323,000 |
| Black or African American | 280 | $59,305,000 | $211,000 | $565,000 | $79,000 | $736,000 |
| Hispanic | 139 | $29,150,000 | $209,000 | $453,000 | $86,000 | $1,409,000 |
| Not Provided | 95 | $24,185,000 | $254,000 | $452,000 | $93,000 | $286,000 |
| American Indian or Alaskan Native | 6 | $1,212,000 | $202,000 | $261,000 | $78,000 | $181,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $416,000 | $208,000 | $258,000 | $86,000 | $92,000 |
| Not applicable | 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 1,132 | $235,780,000 | $208,000 | $565,000 | $78,000 | $1,409,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,003 | $216,299,000 | $215,000 | $615,000 | $99,000 | $477,000 |
| VA-guaranteed (Veterans Administration) | 278 | $70,827,000 | $254,000 | $578,000 | $92,000 | $389,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 20 | $3,614,000 | $180,000 | $247,000 | $56,000 | $77,000 |
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 | 1,843 | $398,349,000 | $216,000 | $615,000 | $89,000 | $1,409,000 |
| Application Denied By Financial Institution | 224 | $45,924,000 | $205,000 | $565,000 | $67,000 | $256,000 |
| Application Approved But Not Accepted | 218 | $49,415,000 | $226,000 | $546,000 | $101,000 | $461,000 |
| Application Withdrawn By Applicant | 148 | $32,832,000 | $221,000 | $452,000 | $83,000 | $736,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 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 |
|---|---|---|---|---|---|---|
| Credit History | 94 | $18,113,000 | $192,000 | $565,000 | $63,000 | $167,000 |
| Debt-To-Income Ratio | 62 | $12,326,000 | $198,000 | $545,000 | $57,000 | $150,000 |
| Other | 15 | $3,771,000 | $251,000 | $530,000 | $99,000 | $220,000 |
| Unverifiable Information | 9 | $1,940,000 | $215,000 | $311,000 | $69,000 | $129,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 6 | $1,042,000 | $173,000 | $394,000 | $80,000 | $231,000 |
| Employment History | 1 | $207,000 | $207,000 | $207,000 | $49,000 | $49,000 |
| Collateral | 1 | $258,000 | $258,000 | $258,000 | $256,000 | $256,000 |
| Credit Application Incomplete | 1 | $415,000 | $415,000 | $415,000 | $86,000 | $86,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into M/I Financial Corp.'s 2010 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 M/I Financial Corp.'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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