M&I Mortgage Corp Mortgage Lending & HMDA Data, 2004
In 2004, M&I Mortgage Corp of Cedarburg, WI reported 9,742 mortgage applications totaling $1.6 billion, down 63% from 2003. The average application was for $165,605, and applicants reported an average income of $76,788. 74% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Milwaukee-Waukesha-West Allis, WI (1,602), Madison, WI (1,518) and Phoenix-Mesa-Scottsdale, AZ (716) (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 | 9,742 |
| Total Mortgage Loan Application Amount | $1,613,326,000 |
| Average Mortgage Loan Application Amount | $165,605 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $76,788 |
| Highest Applicant Income | $1,994,000 |
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Act (HMDA) records M&I Mortgage Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2004
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 | 5,549 | $942,874,000 | $206,594 | $820,000 | $102,540 | $1,994,000 |
| Home Purchase | 4,057 | $651,660,000 | $181,304 | $1,000,000 | $111,391 | $1,811,000 |
| Home Improvement | 136 | $18,792,000 | $203,545 | $583,000 | $117,000 | $445,000 |
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 | 7,680 | $1,258,580,000 | $202,656 | $1,000,000 | $116,031 | $1,994,000 |
| Not applicable | 782 | $136,884,000 | $125,416 | $638,000 | $0 | $41,000 |
| Not Provided | 750 | $139,911,000 | $197,500 | $650,000 | $99,166 | $1,418,000 |
| Hispanic | 232 | $31,543,000 | $189,750 | $577,000 | $68,125 | $276,000 |
| Asian | 147 | $25,428,000 | $205,000 | $413,000 | $102,200 | $1,159,000 |
| Black or African American | 127 | $17,397,000 | $130,285 | $500,000 | $66,428 | $854,000 |
| American Indian or Alaskan Native | 18 | $1,916,000 | $98,000 | $208,000 | $55,500 | $165,000 |
| Native Hawaiian or Other Pacific Islander | 6 | $1,667,000 | $277,666 | $334,000 | $53,666 | $99,000 |
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) | 9,568 | $1,597,396,000 | $197,923 | $1,000,000 | $105,230 | $1,994,000 |
| VA-guaranteed (Veterans Administration) | 133 | $13,297,000 | $76,375 | $237,000 | $28,750 | $276,000 |
| FHA-insured (Federal Housing Administration) | 41 | $2,633,000 | $58,142 | $157,000 | $20,714 | $117,000 |
| 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 | 7,164 | $1,202,820,000 | $213,241 | $820,000 | $118,172 | $1,994,000 |
| Application Denied By Financial Institution | 898 | $140,336,000 | $216,333 | $800,000 | $94,944 | $971,000 |
| Loan Purchased By The Institution | 647 | $108,658,000 | $107,909 | $334,000 | $0 | $0 |
| Application Approved But Not Accepted | 555 | $92,941,000 | $198,333 | $650,000 | $96,809 | $1,418,000 |
| Application Withdrawn By Applicant | 347 | $61,154,000 | $192,125 | $1,000,000 | $108,250 | $1,811,000 |
| Preapproval Denied by Financial Institution | 110 | $4,304,000 | $39,000 | $320,000 | $40,000 | $185,000 |
| File Closed For Incompleteness | 21 | $3,113,000 | $164,142 | $362,000 | $93,000 | $265,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 333 | $35,899,000 | $151,333 | $650,000 | $100,444 | $892,000 |
| Debt-To-Income Ratio | 243 | $41,189,000 | $208,700 | $800,000 | $50,400 | $362,000 |
| Collateral | 226 | $36,209,000 | $173,888 | $603,000 | $90,666 | $971,000 |
| Other | 92 | $14,110,000 | $235,636 | $604,000 | $138,818 | $459,000 |
| Unverifiable Information | 48 | $8,049,000 | $210,000 | $570,000 | $122,666 | $404,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 40 | $6,894,000 | $159,000 | $334,000 | $84,500 | $246,000 |
| Credit Application Incomplete | 14 | $904,000 | $73,800 | $160,000 | $40,800 | $86,000 |
| Employment History | 12 | $1,386,000 | $108,250 | $217,000 | $49,500 | $94,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into M&I Mortgage Corp's 2004 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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