Midland Federal Savings & Loan Mortgage Lending & HMDA Data, 2003
In 2003, Midland Federal Savings & Loan of Bridgeview, IL reported 437 mortgage applications totaling $54.5 million. The average application was for $124,693, and applicants reported an average income of $75,288. 93% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Chicago, IL (436) and Kankakee, IL (1).
| 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 | 437 |
| Total Mortgage Loan Application Amount | $54,491,000 |
| Average Mortgage Loan Application Amount | $124,693 |
| Highest Mortgage Loan Application Amount | $377,000 |
| Average Applicant Income | $75,288 |
| Highest Applicant Income | $276,000 |
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records Midland Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Midland Federal Savings & Loan in 2003
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 (home purchase or home improvement, one-to-four family) | 358 | $43,808,000 | $122,000 | $377,000 | $78,000 | $241,000 |
| Home Purchase (one-to-four family) | 79 | $10,683,000 | $135,000 | $322,000 | $63,000 | $276,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement (one-to-four family) | 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 | 382 | $47,227,000 | $123,000 | $377,000 | $71,000 | $276,000 |
| Hispanic | 34 | $4,285,000 | $126,000 | $221,000 | $69,000 | $128,000 |
| Black | 13 | $1,873,000 | $144,000 | $220,000 | $85,000 | $143,000 |
| Asian or Pacific Islander | 7 | $997,000 | $142,000 | $322,000 | $86,000 | $149,000 |
| American Indian or Alaskan Native | 1 | $109,000 | $109,000 | $109,000 | $34,000 | $34,000 |
| Information not provided by applicant in mail or telephone application | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 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) | 437 | $54,491,000 | $124,000 | $377,000 | $73,000 | $276,000 |
| 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 | 407 | $50,046,000 | $122,000 | $377,000 | $70,000 | $276,000 |
| Application Withdrawn By Applicant | 12 | $1,699,000 | $141,000 | $231,000 | $74,000 | $120,000 |
| Application Denied By Financial Institution | 11 | $1,742,000 | $158,000 | $300,000 | $78,000 | $141,000 |
| Application Approved But Not Accepted | 5 | $746,000 | $149,000 | $243,000 | $74,000 | $126,000 |
| File Closed For Incompleteness | 2 | $258,000 | $129,000 | $158,000 | $84,000 | $138,000 |
| Loan Purchased By The 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 | 6 | $760,000 | $126,000 | $160,000 | $59,000 | $79,000 |
| Debt-To-Income Ratio | 4 | $792,000 | $198,000 | $300,000 | $82,000 | $141,000 |
| Other | 1 | $190,000 | $190,000 | $190,000 | $125,000 | $125,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Midland Federal Savings & Loan's 2003 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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