M&I Mortgage Corp Mortgage Lending & HMDA Data, 2003
In 2003, M&I Mortgage Corp of Cedarburg, WI reported 26,507 mortgage applications totaling $4.3 billion. The average application was for $161,240, and applicants reported an average income of $73,258. 76% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Milwaukee-Waukesha, WI (4,403), Madison, WI (3,865) and Phoenix-Mesa, AZ (1,693) (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 | 26,507 |
| Total Mortgage Loan Application Amount | $4,273,993,000 |
| Average Mortgage Loan Application Amount | $161,240 |
| Highest Mortgage Loan Application Amount | $2,775,000 |
| Average Applicant Income | $73,258 |
| Highest Applicant Income | $6,716,000 |
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Act (HMDA) records M&I Mortgage Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 21,387 | $3,466,901,000 | $196,760 | $1,900,000 | $110,820 | $6,716,000 |
| Home Purchase (one-to-four family) | 5,119 | $807,042,000 | $174,272 | $2,775,000 | $91,613 | $4,492,000 |
| Home Improvement (one-to-four family) | 1 | $50,000 | $50,000 | $50,000 | $60,000 | $60,000 |
| 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 | 21,681 | $3,472,310,000 | $194,760 | $2,775,000 | $112,360 | $5,903,000 |
| Not applicable | 1,903 | $273,716,000 | $128,193 | $370,000 | $0 | $84,000 |
| Information not provided by applicant in mail or telephone application | 1,825 | $354,798,000 | $205,651 | $750,000 | $119,255 | $6,716,000 |
| Asian or Pacific Islander | 430 | $79,347,000 | $208,296 | $600,000 | $112,629 | $532,000 |
| Hispanic | 351 | $48,633,000 | $168,428 | $522,000 | $98,000 | $698,000 |
| Black | 197 | $25,882,000 | $186,647 | $332,000 | $114,352 | $448,000 |
| Other | 68 | $12,434,000 | $203,461 | $642,000 | $108,769 | $1,266,000 |
| American Indian or Alaskan Native | 52 | $6,873,000 | $148,090 | $279,000 | $77,454 | $377,000 |
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) | 26,225 | $4,247,473,000 | $194,120 | $2,775,000 | $107,640 | $6,716,000 |
| VA-guaranteed (Veterans Administration) | 198 | $20,457,000 | $35,000 | $299,000 | $4,615 | $177,000 |
| FHA-insured (Federal Housing Administration) | 84 | $6,063,000 | $46,000 | $173,000 | $7,000 | $118,000 |
| 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 | 20,113 | $3,270,729,000 | $201,673 | $2,775,000 | $119,408 | $6,716,000 |
| Application Denied By Financial Institution | 2,096 | $332,956,000 | $191,810 | $1,000,000 | $96,864 | $2,405,000 |
| Loan Purchased By The Institution | 1,902 | $273,550,000 | $128,193 | $370,000 | $0 | $0 |
| Application Approved But Not Accepted | 1,488 | $247,803,000 | $185,127 | $650,000 | $117,085 | $2,653,000 |
| Application Withdrawn By Applicant | 825 | $134,563,000 | $209,636 | $1,900,000 | $100,636 | $5,903,000 |
| File Closed For Incompleteness | 83 | $14,392,000 | $182,192 | $500,000 | $99,500 | $295,000 |
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 | 578 | $76,983,000 | $151,652 | $650,000 | $77,913 | $758,000 |
| Debt-To-Income Ratio | 497 | $80,061,000 | $175,125 | $700,000 | $53,875 | $590,000 |
| Collateral | 488 | $85,403,000 | $204,107 | $650,000 | $90,607 | $654,000 |
| Other | 261 | $45,155,000 | $226,586 | $650,000 | $122,482 | $942,000 |
| Unverifiable Information | 167 | $27,545,000 | $182,500 | $600,000 | $123,500 | $2,405,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 51 | $8,277,000 | $286,375 | $1,000,000 | $128,875 | $438,000 |
| Employment History | 40 | $7,686,000 | $281,555 | $624,000 | $106,888 | $247,000 |
| Credit Application Incomplete | 12 | $1,531,000 | $147,750 | $290,000 | $69,000 | $154,000 |
| Mortgage Insurance Denied | 2 | $315,000 | $157,000 | $171,000 | $73,000 | $87,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into M&I Mortgage 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 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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