M&I Mortgage Corp Mortgage Lending & HMDA Data, 2005
In 2005, M&I Mortgage Corp of Cedarburg, WI reported 9,757 mortgage applications totaling $1.8 billion, about the same as 2004. The average application was for $184,320, and applicants reported an average income of $86,990. 78% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Milwaukee-Waukesha-West Allis, WI (1,704), Madison, WI (1,529) and Phoenix-Mesa-Scottsdale, AZ (957) (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 | 9,757 |
| Total Mortgage Loan Application Amount | $1,798,411,000 |
| Average Mortgage Loan Application Amount | $184,320 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $86,990 |
| Highest Applicant Income | $5,146,000 |
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Act (HMDA) records M&I Mortgage Corp filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2005
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 | 5,175 | $957,456,000 | $206,875 | $1,500,000 | $103,625 | $5,146,000 |
| Home Purchase | 4,405 | $806,183,000 | $174,100 | $1,312,000 | $125,800 | $4,608,000 |
| Home Improvement | 177 | $34,772,000 | $241,285 | $1,200,000 | $208,714 | $748,000 |
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 | 7,565 | $1,381,933,000 | $181,000 | $1,500,000 | $136,111 | $4,608,000 |
| Not Provided | 1,230 | $241,581,000 | $206,888 | $1,000,000 | $137,444 | $1,520,000 |
| Not applicable | 513 | $94,664,000 | $189,375 | $650,000 | $64,250 | $5,146,000 |
| Hispanic | 212 | $36,421,000 | $174,800 | $650,000 | $122,000 | $375,000 |
| Asian | 110 | $24,757,000 | $238,000 | $715,000 | $95,400 | $373,000 |
| Black or African American | 100 | $14,509,000 | $156,200 | $561,000 | $72,000 | $1,000,000 |
| American Indian or Alaskan Native | 20 | $3,259,000 | $178,333 | $350,000 | $121,333 | $273,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $1,287,000 | $222,666 | $295,000 | $94,666 | $142,000 |
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) | 9,634 | $1,782,199,000 | $174,300 | $1,500,000 | $114,700 | $5,146,000 |
| VA-guaranteed (Veterans Administration) | 105 | $14,097,000 | $92,750 | $274,000 | $33,250 | $119,000 |
| FHA-insured (Federal Housing Administration) | 18 | $2,115,000 | $89,000 | $232,000 | $46,333 | $104,000 |
| 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 | 7,635 | $1,421,246,000 | $207,625 | $1,500,000 | $131,375 | $5,146,000 |
| Application Denied By Financial Institution | 819 | $142,224,000 | $232,875 | $941,000 | $109,875 | $751,000 |
| Application Approved But Not Accepted | 455 | $82,203,000 | $209,125 | $822,000 | $279,000 | $3,782,000 |
| Loan Purchased By The Institution | 389 | $66,562,000 | $155,285 | $360,000 | $0 | $0 |
| Application Withdrawn By Applicant | 374 | $76,938,000 | $261,857 | $1,312,000 | $124,000 | $991,000 |
| Preapproval Denied by Financial Institution | 55 | $2,052,000 | $37,000 | $264,000 | $34,000 | $110,000 |
| File Closed For Incompleteness | 30 | $7,186,000 | $368,250 | $740,000 | $176,500 | $512,000 |
| 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 | 277 | $36,365,000 | $180,285 | $640,000 | $83,714 | $587,000 |
| Debt-To-Income Ratio | 265 | $49,911,000 | $217,142 | $650,000 | $89,428 | $393,000 |
| Collateral | 223 | $39,061,000 | $238,250 | $650,000 | $188,375 | $751,000 |
| Other | 52 | $10,520,000 | $348,000 | $941,000 | $54,400 | $285,000 |
| Unverifiable Information | 27 | $4,211,000 | $151,250 | $350,000 | $55,750 | $131,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 13 | $2,056,000 | $152,000 | $247,000 | $113,500 | $227,000 |
| Employment History | 12 | $1,476,000 | $122,333 | $240,000 | $30,666 | $112,000 |
| Credit Application Incomplete | 5 | $676,000 | $84,000 | $280,000 | $77,333 | $145,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into M&I Mortgage Corp's 2005 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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