Mainsource Bank of Illinois Mortgage Lending & HMDA Data, 2009
In 2009, Mainsource Bank of Illinois of Kankakee, IL reported 280 mortgage applications totaling $28.6 million, up 92% from 2008. The average application was for $102,060, and applicants reported an average income of $65,028. 66% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Kankakee-Bradley, IL (103), Danville, IL (66) and Gary, IN (24) (applications in parentheses).
| Mortgage Company & Address | Mainsource Bank of Illinois 2000 W Court Street Kankakee, IL 60901 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 280 |
| Total Mortgage Loan Application Amount | $28,577,000 |
| Average Mortgage Loan Application Amount | $102,060 |
| Highest Mortgage Loan Application Amount | $800,000 |
| Average Applicant Income | $65,028 |
| Highest Applicant Income | $492,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mainsource Bank of Illinois filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Mainsource Bank of Illinois in 2009
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 | 202 | $22,350,000 | $110,000 | $410,000 | $66,000 | $302,000 |
| Home Purchase | 68 | $6,060,000 | $89,000 | $800,000 | $62,000 | $492,000 |
| Home Improvement | 10 | $167,000 | $16,000 | $36,000 | $66,000 | $167,000 |
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 | 274 | $27,735,000 | $101,000 | $800,000 | $65,000 | $492,000 |
| Black or African American | 2 | $166,000 | $83,000 | $143,000 | $30,000 | $32,000 |
| Hispanic | 2 | $353,000 | $176,000 | $259,000 | $84,000 | $110,000 |
| Not applicable | 1 | $204,000 | $204,000 | $204,000 | $0 | $0 |
| Not Provided | 1 | $119,000 | $119,000 | $119,000 | $27,000 | $27,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 266 | $27,334,000 | $102,000 | $800,000 | $66,000 | $492,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 13 | $1,108,000 | $85,000 | $142,000 | $37,000 | $55,000 |
| FHA-insured (Federal Housing Administration) | 1 | $135,000 | $135,000 | $135,000 | $59,000 | $59,000 |
| VA-guaranteed (Veterans Administration) | 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 | 186 | $19,258,000 | $103,000 | $800,000 | $69,000 | $492,000 |
| Application Denied By Financial Institution | 41 | $3,959,000 | $96,000 | $335,000 | $49,000 | $144,000 |
| Application Approved But Not Accepted | 31 | $3,925,000 | $126,000 | $410,000 | $73,000 | $226,000 |
| Loan Purchased By The Institution | 12 | $312,000 | $26,000 | $52,000 | $45,000 | $85,000 |
| Application Withdrawn By Applicant | 10 | $1,123,000 | $112,000 | $265,000 | $45,000 | $84,000 |
| File Closed For Incompleteness | 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 | 19 | $1,539,000 | $81,000 | $143,000 | $47,000 | $126,000 |
| Debt-To-Income Ratio | 11 | $941,000 | $85,000 | $148,000 | $38,000 | $79,000 |
| Collateral | 6 | $896,000 | $149,000 | $335,000 | $69,000 | $144,000 |
| Mortgage Insurance Denied | 3 | $418,000 | $139,000 | $191,000 | $87,000 | $113,000 |
| Other | 1 | $55,000 | $55,000 | $55,000 | $30,000 | $30,000 |
| Credit Application Incomplete | 1 | $110,000 | $110,000 | $110,000 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mainsource Bank of Illinois's 2009 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 Mainsource Bank of Illinois'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.
For a list of all lenders in Illinois, download the full spreadsheet
with aggregated HMDA statistics today.
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