Midland Federal Savings & Loan Mortgage Lending & HMDA Data, 2013
In 2013, Midland Federal Savings & Loan of Bridgeview, IL reported 71 mortgage applications totaling $9.0 million, down 18% from 2012. The average application was for $126,352, and applicants reported an average income of $72,816. 68% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Chicago-Joliet-Naperville, IL (65) 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 | 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 71 |
| Total Mortgage Loan Application Amount | $8,971,000 |
| Average Mortgage Loan Application Amount | $126,352 |
| Highest Mortgage Loan Application Amount | $566,000 |
| Average Applicant Income | $72,816 |
| Highest Applicant Income | $300,000 |
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records Midland Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Chicago-Joliet-Naperville, IL | 65 | $ 8,260,000 | $ 127,076 | $ 75,000 |
| Kankakee-Bradley, IL | 2 | $ 200,000 | $ 100,000 | $ 38,000 |
Mortgage Loan Application Detail Totals for Midland Federal Savings & Loan in 2013
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 | 53 | $6,977,000 | $131,000 | $566,000 | $71,000 | $235,000 |
| Home Purchase | 17 | $1,889,000 | $111,000 | $395,000 | $75,000 | $300,000 |
| Home Improvement | 1 | $105,000 | $105,000 | $105,000 | $132,000 | $132,000 |
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 | 59 | $7,406,000 | $125,000 | $566,000 | $73,000 | $300,000 |
| Hispanic | 11 | $1,420,000 | $129,000 | $247,000 | $72,000 | $143,000 |
| Asian | 1 | $145,000 | $145,000 | $145,000 | $68,000 | $68,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 71 | $8,971,000 | $126,000 | $566,000 | $73,000 | $300,000 |
| 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 | 48 | $6,286,000 | $130,000 | $566,000 | $80,000 | $300,000 |
| Application Withdrawn By Applicant | 9 | $1,051,000 | $116,000 | $228,000 | $57,000 | $79,000 |
| Application Denied By Financial Institution | 7 | $953,000 | $136,000 | $234,000 | $61,000 | $98,000 |
| Preapproval Approved but not Accepted | 3 | $385,000 | $128,000 | $160,000 | $58,000 | $67,000 |
| Application Approved But Not Accepted | 2 | $120,000 | $60,000 | $60,000 | $55,000 | $72,000 |
| File Closed For Incompleteness | 2 | $176,000 | $88,000 | $126,000 | $59,000 | $64,000 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 4 | $632,000 | $158,000 | $234,000 | $73,000 | $98,000 |
| Debt-To-Income Ratio | 2 | $181,000 | $90,000 | $115,000 | $19,000 | $27,000 |
| Credit History | 1 | $140,000 | $140,000 | $140,000 | $96,000 | $96,000 |
| 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 |
| 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 2013 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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