M&I Mortgage Corp Mortgage Lending & HMDA Data, 2006
In 2006, M&I Mortgage Corp of Cedarburg, WI reported 7,220 mortgage applications totaling $1.4 billion, down 26% from 2005. The average application was for $196,493, and applicants reported an average income of $102,193. 71% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Milwaukee-Waukesha-West Allis, WI (1,330), Madison, WI (1,075) and Phoenix-Mesa-Scottsdale, AZ (554) (applications in parentheses).
| Mortgage Company & Address | M&I Mortgage Corp W57n14280 Doerr Way Cedarburg, WI 53012 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 7,220 |
| Total Mortgage Loan Application Amount | $1,418,680,000 |
| Average Mortgage Loan Application Amount | $196,493 |
| Highest Mortgage Loan Application Amount | $1,568,000 |
| Average Applicant Income | $102,193 |
| Highest Applicant Income | $4,325,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records M&I Mortgage Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mortgage 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 | 3,726 | $701,849,000 | $188,000 | $1,500,000 | $104,000 | $4,325,000 |
| Refinancing | 3,445 | $704,276,000 | $204,000 | $1,163,000 | $100,000 | $2,500,000 |
| Home Improvement | 49 | $12,555,000 | $256,000 | $1,568,000 | $119,000 | $772,000 |
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 | 5,248 | $1,022,713,000 | $194,000 | $1,568,000 | $103,000 | $4,325,000 |
| Not Provided | 1,222 | $253,350,000 | $207,000 | $1,200,000 | $114,000 | $1,887,000 |
| Not applicable | 367 | $73,034,000 | $199,000 | $995,000 | $78,000 | $3,342,000 |
| Hispanic | 182 | $31,027,000 | $170,000 | $500,000 | $77,000 | $761,000 |
| Asian | 104 | $23,482,000 | $225,000 | $836,000 | $98,000 | $780,000 |
| Black or African American | 80 | $12,209,000 | $152,000 | $528,000 | $75,000 | $360,000 |
| American Indian or Alaskan Native | 11 | $1,736,000 | $157,000 | $312,000 | $88,000 | $212,000 |
| Native Hawaiian or Other Pacific Islander | 6 | $1,129,000 | $188,000 | $333,000 | $97,000 | $199,000 |
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) | 7,105 | $1,404,139,000 | $197,000 | $1,568,000 | $103,000 | $4,325,000 |
| VA-guaranteed (Veterans Administration) | 104 | $13,211,000 | $127,000 | $415,000 | $53,000 | $167,000 |
| FHA-insured (Federal Housing Administration) | 11 | $1,330,000 | $120,000 | $169,000 | $46,000 | $91,000 |
| 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 | 5,119 | $1,016,118,000 | $198,000 | $1,500,000 | $109,000 | $4,325,000 |
| Application Denied By Financial Institution | 817 | $159,345,000 | $195,000 | $1,163,000 | $95,000 | $2,500,000 |
| Application Approved But Not Accepted | 472 | $91,067,000 | $192,000 | $700,000 | $99,000 | $950,000 |
| Application Withdrawn By Applicant | 451 | $94,743,000 | $210,000 | $1,568,000 | $109,000 | $2,340,000 |
| Loan Purchased By The Institution | 226 | $39,752,000 | $175,000 | $403,000 | $0 | $0 |
| Preapproval Denied by Financial Institution | 77 | $3,581,000 | $46,000 | $428,000 | $38,000 | $94,000 |
| File Closed For Incompleteness | 58 | $14,074,000 | $242,000 | $588,000 | $109,000 | $1,356,000 |
| Preapproval Approved but not Accepted | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 357 | $67,354,000 | $188,000 | $1,000,000 | $56,000 | $303,000 |
| Credit History | 249 | $33,969,000 | $136,000 | $1,163,000 | $72,000 | $674,000 |
| Collateral | 196 | $42,321,000 | $215,000 | $1,050,000 | $155,000 | $2,500,000 |
| Other | 37 | $9,545,000 | $257,000 | $800,000 | $185,000 | $825,000 |
| Unverifiable Information | 26 | $5,824,000 | $224,000 | $718,000 | $112,000 | $790,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 19 | $2,521,000 | $132,000 | $289,000 | $84,000 | $291,000 |
| Employment History | 10 | $1,392,000 | $139,000 | $280,000 | $72,000 | $134,000 |
| Credit Application Incomplete | 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 Mortgage 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 Mortgage 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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