Midland Federal Savings & Loan Mortgage Lending & HMDA Data, 2004
In 2004, Midland Federal Savings & Loan of Bridgeview, IL reported 179 mortgage applications totaling $25.2 million, down 59% from 2003. The average application was for $140,726, and applicants reported an average income of $63,586. 93% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (177) and Kankakee-Bradley, IL (2).
| Mortgage Company & Address | Midland Federal Savings & Loan 8929 S. Harlem Ave. Bridgeview, IL 60455 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 179 |
| Total Mortgage Loan Application Amount | $25,190,000 |
| Average Mortgage Loan Application Amount | $140,726 |
| Highest Mortgage Loan Application Amount | $369,000 |
| Average Applicant Income | $63,586 |
| Highest Applicant Income | $326,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Midland Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cook, Illinois | 136 | $ 18,256,000 | $ 134,235 | $ 50,000 |
| Will, Illinois | 38 | $ 5,918,000 | $ 155,736 | $ 72,000 |
| DuPage, Illinois | 2 | $ 522,000 | $ 261,000 | $ 161,000 |
| Kankakee, Illinois | 2 | $ 338,000 | $ 169,000 | $ 82,000 |
| Kane, Illinois | 1 | $ 156,000 | $ 156,000 | $ 49,000 |
Mortgage Loan Application Detail Totals for Midland Federal Savings & Loan 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 | 113 | $14,581,000 | $129,000 | $369,000 | $54,000 | $168,000 |
| Home Purchase | 66 | $10,609,000 | $160,000 | $352,000 | $80,000 | $326,000 |
| Home Improvement | 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 | 146 | $19,990,000 | $136,000 | $352,000 | $71,000 | $326,000 |
| Hispanic | 25 | $4,025,000 | $161,000 | $369,000 | $63,000 | $110,000 |
| Asian | 5 | $686,000 | $137,000 | $239,000 | $40,000 | $68,000 |
| Black or African American | 3 | $489,000 | $163,000 | $250,000 | $82,000 | $96,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 179 | $25,190,000 | $140,000 | $369,000 | $66,000 | $326,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 166 | $22,907,000 | $137,000 | $369,000 | $72,000 | $326,000 |
| Application Approved But Not Accepted | 4 | $877,000 | $219,000 | $334,000 | $58,000 | $100,000 |
| File Closed For Incompleteness | 4 | $516,000 | $129,000 | $180,000 | $51,000 | $66,000 |
| Application Withdrawn By Applicant | 3 | $437,000 | $145,000 | $152,000 | $41,000 | $44,000 |
| Application Denied By Financial Institution | 2 | $453,000 | $226,000 | $257,000 | $66,000 | $70,000 |
| Loan Purchased By The Institution | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 1 | $257,000 | $257,000 | $257,000 | $70,000 | $70,000 |
| Collateral | 1 | $196,000 | $196,000 | $196,000 | $62,000 | $62,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 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 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Midland Federal Savings & Loan'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 Midland Federal Savings & Loan'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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