Midland Federal Savings & Loan Mortgage Lending & HMDA Data, 2007
In 2007, Midland Federal Savings & Loan of Bridgeview, IL reported 96 mortgage applications totaling $16.6 million, up 20% from 2006. The average application was for $172,822, and applicants reported an average income of $72,500. 90% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (90), Champaign-Urbana, IL (1) and Lake County-Kenosha County, IL-WI (1) (applications in parentheses).
| 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 | 96 |
| Total Mortgage Loan Application Amount | $16,591,000 |
| Average Mortgage Loan Application Amount | $172,822 |
| Highest Mortgage Loan Application Amount | $520,000 |
| Average Applicant Income | $72,500 |
| Highest Applicant Income | $600,000 |
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records Midland Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 69 | $ 11,465,000 | $ 166,159 | $ 69,000 |
| Will, Illinois | 14 | $ 2,437,000 | $ 174,071 | $ 61,000 |
| DuPage, Illinois | 4 | $ 760,000 | $ 190,000 | $ 141,000 |
| Grundy, Illinois | 2 | $ 211,000 | $ 105,500 | $ 58,000 |
| Indian River, Florida | 1 | $ 188,000 | $ 188,000 | $ 47,000 |
| Ford, Illinois | 1 | $ 75,000 | $ 75,000 | $ 35,000 |
| Kane, Illinois | 1 | $ 273,000 | $ 273,000 | $ 120,000 |
| Lake, Illinois | 1 | $ 520,000 | $ 520,000 | $ 171,000 |
| Tazewell, Illinois | 1 | $ 80,000 | $ 80,000 | $ 50,000 |
| Rockingham, New Hampshire | 1 | $ 367,000 | $ 367,000 | $ 125,000 |
| Horry, South Carolina | 1 | $ 215,000 | $ 215,000 | $ 120,000 |
Mortgage Loan Application Detail Totals for Midland Federal Savings & Loan in 2007
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 56 | $9,407,000 | $167,000 | $364,000 | $60,000 | $149,000 |
| Refinancing | 40 | $7,184,000 | $179,000 | $520,000 | $90,000 | $600,000 |
| 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 | 82 | $14,468,000 | $176,000 | $520,000 | $75,000 | $600,000 |
| Hispanic | 8 | $1,199,000 | $149,000 | $209,000 | $61,000 | $80,000 |
| Black or African American | 5 | $809,000 | $161,000 | $225,000 | $51,000 | $71,000 |
| Asian | 1 | $115,000 | $115,000 | $115,000 | $49,000 | $49,000 |
| 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) | 96 | $16,591,000 | $172,000 | $520,000 | $73,000 | $600,000 |
| 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 | 86 | $14,549,000 | $169,000 | $520,000 | $71,000 | $600,000 |
| Application Withdrawn By Applicant | 5 | $1,160,000 | $232,000 | $417,000 | $115,000 | $246,000 |
| Application Denied By Financial Institution | 3 | $614,000 | $204,000 | $240,000 | $63,000 | $81,000 |
| File Closed For Incompleteness | 2 | $268,000 | $134,000 | $160,000 | $57,000 | $59,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 2 | $456,000 | $228,000 | $240,000 | $74,000 | $81,000 |
| Unverifiable Information | 1 | $158,000 | $158,000 | $158,000 | $43,000 | $43,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Midland Federal Savings & Loan's 2007 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.
For a list of all lenders in Illinois, download the full spreadsheet
with aggregated HMDA statistics today.
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