M/I Financial Corp. Mortgage Lending & HMDA Data, 2008
In 2008, M/I Financial Corp. of Columbus, OH reported 2,314 mortgage applications totaling $536.6 million, down 39% from 2007. The average application was for $231,901, and applicants reported an average income of $91,996. 71% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Columbus, OH (761), Tampa-St. Petersburg-Clearwater, FL (306) and Charlotte-Gastonia-Concord, NC-SC (302) (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 | 2,314 |
| Total Mortgage Loan Application Amount | $536,620,000 |
| Average Mortgage Loan Application Amount | $231,901 |
| Highest Mortgage Loan Application Amount | $744,000 |
| Average Applicant Income | $91,996 |
| Highest Applicant Income | $753,000 |
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 filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2008
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 | 2,306 | $534,606,000 | $231,000 | $744,000 | $92,000 | $753,000 |
| Refinancing | 8 | $2,014,000 | $251,000 | $417,000 | $91,000 | $120,000 |
| 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 | 1,391 | $317,960,000 | $228,000 | $688,000 | $95,000 | $753,000 |
| Black or African American | 385 | $92,616,000 | $240,000 | $652,000 | $87,000 | $366,000 |
| Asian | 211 | $49,811,000 | $236,000 | $627,000 | $92,000 | $300,000 |
| Hispanic | 180 | $41,982,000 | $233,000 | $744,000 | $80,000 | $276,000 |
| Not Provided | 140 | $32,648,000 | $233,000 | $604,000 | $92,000 | $311,000 |
| American Indian or Alaskan Native | 5 | $1,195,000 | $239,000 | $277,000 | $76,000 | $89,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $408,000 | $204,000 | $217,000 | $61,000 | $79,000 |
| 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) | 1,335 | $314,294,000 | $235,000 | $744,000 | $100,000 | $753,000 |
| FHA-insured (Federal Housing Administration) | 837 | $183,281,000 | $218,000 | $652,000 | $79,000 | $311,000 |
| VA-guaranteed (Veterans Administration) | 142 | $39,045,000 | $274,000 | $637,000 | $91,000 | $366,000 |
| 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 | 1,636 | $378,692,000 | $231,000 | $688,000 | $93,000 | $753,000 |
| Application Approved But Not Accepted | 378 | $89,174,000 | $235,000 | $744,000 | $94,000 | $446,000 |
| Application Withdrawn By Applicant | 213 | $50,401,000 | $236,000 | $642,000 | $89,000 | $306,000 |
| Application Denied By Financial Institution | 87 | $18,353,000 | $210,000 | $417,000 | $62,000 | $161,000 |
| 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 | 33 | $7,303,000 | $221,000 | $417,000 | $69,000 | $157,000 |
| Debt-To-Income Ratio | 18 | $3,700,000 | $205,000 | $347,000 | $58,000 | $161,000 |
| Unverifiable Information | 3 | $664,000 | $221,000 | $306,000 | $64,000 | $78,000 |
| Other | 2 | $361,000 | $180,000 | $199,000 | $55,000 | $59,000 |
| Employment History | 1 | $300,000 | $300,000 | $300,000 | $10,000 | $10,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 2008 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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