M/I Financial Corp. Mortgage Lending & HMDA Data, 2006
In 2006, M/I Financial Corp. of Columbus, OH reported 4,167 mortgage applications totaling $817.0 million, down 5% from 2005. The average application was for $196,072, and applicants reported an average income of $92,888. 56% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Columbus, OH (1,639), Tampa-St. Petersburg-Clearwater, FL (839) and Charlotte-Gastonia-Concord, NC-SC (484) (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 | 4,167 |
| Total Mortgage Loan Application Amount | $817,036,000 |
| Average Mortgage Loan Application Amount | $196,072 |
| Highest Mortgage Loan Application Amount | $793,000 |
| Average Applicant Income | $92,888 |
| Highest Applicant Income | $2,242,000 |
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 filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2006
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 | 4,162 | $815,637,000 | $195,000 | $793,000 | $93,000 | $2,242,000 |
| Refinancing | 5 | $1,399,000 | $279,000 | $620,000 | $0 | $0 |
| 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 | 2,704 | $514,254,000 | $190,000 | $744,000 | $96,000 | $2,242,000 |
| Black or African American | 437 | $80,930,000 | $185,000 | $519,000 | $71,000 | $312,000 |
| Asian | 363 | $82,190,000 | $226,000 | $534,000 | $98,000 | $610,000 |
| Hispanic | 326 | $65,610,000 | $201,000 | $481,000 | $81,000 | $559,000 |
| Not Provided | 309 | $67,658,000 | $218,000 | $793,000 | $104,000 | $1,560,000 |
| Native Hawaiian or Other Pacific Islander | 17 | $4,181,000 | $245,000 | $517,000 | $108,000 | $265,000 |
| American Indian or Alaskan Native | 11 | $2,213,000 | $201,000 | $355,000 | $89,000 | $139,000 |
| 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) | 3,689 | $728,248,000 | $197,000 | $793,000 | $96,000 | $2,242,000 |
| FHA-insured (Federal Housing Administration) | 375 | $65,561,000 | $174,000 | $241,000 | $63,000 | $435,000 |
| VA-guaranteed (Veterans Administration) | 103 | $23,227,000 | $225,000 | $417,000 | $74,000 | $212,000 |
| 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 | 2,344 | $465,075,000 | $198,000 | $685,000 | $96,000 | $675,000 |
| Application Approved But Not Accepted | 1,001 | $208,304,000 | $208,000 | $750,000 | $86,000 | $908,000 |
| Application Withdrawn By Applicant | 765 | $133,698,000 | $174,000 | $793,000 | $96,000 | $2,242,000 |
| Application Denied By Financial Institution | 48 | $8,861,000 | $184,000 | $464,000 | $54,000 | $214,000 |
| File Closed For Incompleteness | 9 | $1,098,000 | $122,000 | $311,000 | $53,000 | $94,000 |
| 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 | 31 | $5,604,000 | $180,000 | $464,000 | $51,000 | $99,000 |
| Debt-To-Income Ratio | 13 | $2,409,000 | $185,000 | $359,000 | $48,000 | $94,000 |
| Other | 1 | $123,000 | $123,000 | $123,000 | $214,000 | $214,000 |
| Unverifiable Information | 1 | $163,000 | $163,000 | $163,000 | $60,000 | $60,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into M/I Financial Corp.'s 2006 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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