M/I Financial Corp. Mortgage Lending & HMDA Data, 2005
In 2005, M/I Financial Corp. of Columbus, OH reported 4,388 mortgage applications totaling $764.1 million, down 15% from 2004. The average application was for $174,144, and applicants reported an average income of $74,479. 68% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Columbus, OH (2,463), Tampa-St. Petersburg-Clearwater, FL (425) and Orlando, FL (361) (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 | 4,388 |
| Total Mortgage Loan Application Amount | $764,148,000 |
| Average Mortgage Loan Application Amount | $174,144 |
| Highest Mortgage Loan Application Amount | $617,000 |
| Average Applicant Income | $74,479 |
| Highest Applicant Income | $880,000 |
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 filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2005
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 | 4,387 | $763,789,000 | $196,800 | $617,000 | $123,400 | $850,000 |
| Refinancing | 1 | $359,000 | $359,000 | $359,000 | $880,000 | $880,000 |
| 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 | 3,072 | $524,806,000 | $188,800 | $617,000 | $76,000 | $703,000 |
| Black or African American | 504 | $84,702,000 | $203,800 | $462,000 | $74,000 | $850,000 |
| Asian | 345 | $68,098,000 | $210,600 | $455,000 | $218,600 | $810,000 |
| Not Provided | 235 | $44,657,000 | $196,400 | $507,000 | $239,400 | $880,000 |
| Hispanic | 204 | $37,019,000 | $161,500 | $428,000 | $66,750 | $240,000 |
| Native Hawaiian or Other Pacific Islander | 23 | $3,639,000 | $133,666 | $353,000 | $62,666 | $164,000 |
| American Indian or Alaskan Native | 5 | $1,227,000 | $260,500 | $360,000 | $113,500 | $184,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 3,806 | $659,358,000 | $197,000 | $617,000 | $154,600 | $880,000 |
| FHA-insured (Federal Housing Administration) | 478 | $82,539,000 | $162,250 | $241,000 | $62,250 | $432,000 |
| VA-guaranteed (Veterans Administration) | 104 | $22,251,000 | $218,250 | $361,000 | $70,750 | $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 | 2,983 | $516,088,000 | $168,750 | $582,000 | $77,500 | $673,000 |
| Application Approved But Not Accepted | 762 | $136,562,000 | $175,750 | $617,000 | $71,000 | $619,000 |
| Application Withdrawn By Applicant | 525 | $90,492,000 | $161,000 | $560,000 | $78,250 | $850,000 |
| Application Denied By Financial Institution | 90 | $15,713,000 | $173,750 | $359,000 | $52,500 | $180,000 |
| File Closed For Incompleteness | 23 | $3,684,000 | $155,000 | $393,000 | $59,750 | $165,000 |
| Loan Purchased By The Institution | 5 | $1,609,000 | $321,000 | $359,000 | $463,000 | $880,000 |
| 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 | 64 | $10,614,000 | $166,000 | $359,000 | $54,000 | $180,000 |
| Debt-To-Income Ratio | 18 | $3,503,000 | $196,000 | $359,000 | $52,333 | $94,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $536,000 | $178,000 | $210,000 | $71,000 | $119,000 |
| Other | 2 | $474,000 | $237,000 | $289,000 | $50,000 | $100,000 |
| Employment History | 2 | $310,000 | $155,000 | $160,000 | $0 | $0 |
| Unverifiable Information | 1 | $276,000 | $276,000 | $276,000 | $74,000 | $74,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into M/I Financial Corp.'s 2005 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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