Midwest Heritage Bank, FSB Mortgage Lending & HMDA Data, 2010
In 2010, Midwest Heritage Bank, FSB of Chariton, IA reported 627 mortgage applications totaling $80.4 million, down 12% from 2009. The average application was for $128,204, and applicants reported an average income of $104,229. 60% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Des Moines-West Des Moines, IA (291), Ames, IA (33) and Omaha-Council Bluffs, NE-IA (14) (applications in parentheses).
| Mortgage Company & Address | Midwest Heritage Bank, FSB 1025 Braden Avenue, P. O. Box 331 Chariton, IA 50049 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 | 627 |
| Total Mortgage Loan Application Amount | $80,384,000 |
| Average Mortgage Loan Application Amount | $128,204 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $104,229 |
| Highest Applicant Income | $999,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Midwest Heritage Bank, FSB filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Midwest Heritage Bank, FSB in 2010
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 | 401 | $58,364,000 | $145,000 | $417,000 | $114,000 | $815,000 |
| Home Purchase | 172 | $21,043,000 | $122,000 | $417,000 | $90,000 | $739,000 |
| Home Improvement | 54 | $977,000 | $18,000 | $133,000 | $77,000 | $999,000 |
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 | 605 | $77,501,000 | $128,000 | $417,000 | $105,000 | $999,000 |
| Not Provided | 9 | $1,014,000 | $112,000 | $404,000 | $79,000 | $269,000 |
| Asian | 7 | $872,000 | $124,000 | $220,000 | $79,000 | $144,000 |
| Black or African American | 2 | $348,000 | $174,000 | $174,000 | $63,000 | $79,000 |
| Hispanic | 2 | $571,000 | $285,000 | $336,000 | $246,000 | $325,000 |
| American Indian or Alaskan Native | 2 | $78,000 | $39,000 | $39,000 | $27,000 | $27,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 559 | $71,202,000 | $127,000 | $417,000 | $110,000 | $999,000 |
| FHA-insured (Federal Housing Administration) | 54 | $7,823,000 | $144,000 | $273,000 | $65,000 | $263,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 14 | $1,359,000 | $97,000 | $185,000 | $45,000 | $77,000 |
| 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 | 378 | $49,024,000 | $129,000 | $417,000 | $125,000 | $999,000 |
| Application Approved But Not Accepted | 117 | $16,230,000 | $138,000 | $417,000 | $82,000 | $310,000 |
| Application Denied By Financial Institution | 109 | $11,511,000 | $105,000 | $336,000 | $59,000 | $198,000 |
| Application Withdrawn By Applicant | 23 | $3,619,000 | $157,000 | $417,000 | $93,000 | $329,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Credit History | 70 | $6,573,000 | $93,000 | $336,000 | $58,000 | $198,000 |
| Debt-To-Income Ratio | 19 | $2,080,000 | $109,000 | $216,000 | $55,000 | $126,000 |
| Collateral | 13 | $1,959,000 | $150,000 | $267,000 | $62,000 | $153,000 |
| Other | 5 | $820,000 | $164,000 | $264,000 | $89,000 | $158,000 |
| Employment History | 1 | $30,000 | $30,000 | $30,000 | $42,000 | $42,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $49,000 | $49,000 | $49,000 | $48,000 | $48,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Midwest Heritage Bank, FSB's 2010 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 Midwest Heritage Bank, FSB'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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