M/I Financial Corp. Mortgage Lending & HMDA Data, 2003
In 2003, M/I Financial Corp. of Columbus, OH reported 4,718 mortgage applications totaling $855.2 million. The average application was for $181,268, and applicants reported an average income of $64,803. 74% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Columbus, OH (2,227), Tampa-St. Petersburg-Clearwater, FL (469) and Indianapolis, IN (389) (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 | 4,718 |
| Total Mortgage Loan Application Amount | $855,227,000 |
| Average Mortgage Loan Application Amount | $181,268 |
| Highest Mortgage Loan Application Amount | $650,000 |
| Average Applicant Income | $64,803 |
| Highest Applicant Income | $612,000 |
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 filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2003
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 (one-to-four family) | 4,712 | $853,931,000 | $242,857 | $650,000 | $44,571 | $612,000 |
| Refinancing (home purchase or home improvement, one-to-four family) | 6 | $1,296,000 | $189,000 | $481,000 | $81,000 | $205,000 |
| Home Improvement (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 3,363 | $612,076,000 | $247,714 | $561,000 | $51,000 | $612,000 |
| Black | 576 | $101,241,000 | $171,600 | $427,000 | $61,800 | $550,000 |
| Information not provided by applicant in mail or telephone application | 243 | $45,346,000 | $248,000 | $640,000 | $46,333 | $495,000 |
| Asian or Pacific Islander | 237 | $42,986,000 | $225,500 | $425,000 | $42,500 | $290,000 |
| Hispanic | 214 | $36,327,000 | $164,250 | $347,000 | $52,500 | $196,000 |
| Other | 63 | $11,617,000 | $206,600 | $410,000 | $49,200 | $189,000 |
| American Indian or Alaskan Native | 21 | $5,340,000 | $249,166 | $650,000 | $38,333 | $110,000 |
| Not applicable | 1 | $294,000 | $294,000 | $294,000 | $70,000 | $70,000 |
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) | 3,108 | $581,245,000 | $245,285 | $650,000 | $50,571 | $612,000 |
| FHA-insured (Federal Housing Administration) | 1,416 | $238,216,000 | $149,750 | $266,000 | $49,500 | $202,000 |
| VA-guaranteed (Veterans Administration) | 194 | $35,766,000 | $176,750 | $306,000 | $59,250 | $141,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 3,470 | $629,126,000 | $236,400 | $649,000 | $56,600 | $550,000 |
| Application Withdrawn By Applicant | 553 | $97,799,000 | $260,333 | $640,000 | $46,833 | $360,000 |
| Application Approved But Not Accepted | 329 | $61,364,000 | $147,250 | $443,000 | $99,750 | $612,000 |
| Application Denied By Financial Institution | 316 | $54,832,000 | $176,000 | $380,000 | $55,400 | $220,000 |
| File Closed For Incompleteness | 35 | $6,561,000 | $208,750 | $400,000 | $80,000 | $374,000 |
| Loan Purchased By The Institution | 15 | $5,545,000 | $360,000 | $650,000 | $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 | 196 | $34,213,000 | $178,500 | $362,000 | $56,750 | $220,000 |
| Debt-To-Income Ratio | 107 | $18,062,000 | $165,000 | $380,000 | $55,600 | $136,000 |
| Other | 7 | $1,293,000 | $194,000 | $323,000 | $50,000 | $103,000 |
| Employment History | 5 | $1,057,000 | $225,000 | $328,000 | $37,333 | $92,000 |
| Unverifiable Information | 1 | $207,000 | $207,000 | $207,000 | $69,000 | $69,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into M/I Financial Corp.'s 2003 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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