Mill City Credit Union Mortgage Lending & HMDA Data, 2018
In 2018, Mill City Credit Union of Minnetonka, MN reported 249 mortgage applications totaling $23.3 million, down 33% from 2017. The average application was for $93,755, and applicants reported an average income of $117,662. 43% of its applications resulted in an originated loan and 23% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (117), Cedar Rapids, IA (11) and Nashville-Davidson--Murfreesboro--Franklin, TN (6) (applications in parentheses).
| Mortgage Company & Address | Mill City Credit Union 10653 Wayzata Blvd Minnetonka, MN 55305 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2018 2017 2016 2015 |
| Total Number of Mortgage Applications | 249 |
| Total Mortgage Loan Application Amount | $23,345,000 |
| Average Mortgage Loan Application Amount | $93,755 |
| Highest Mortgage Loan Application Amount | $355,000 |
| Average Applicant Income | $117,662 |
| Highest Applicant Income | $443,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mill City Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Hennepin, Minnesota | 82 | $ 7,630,000 | $ 93,048 | $ 130,000 |
| Linn, Iowa | 9 | $ 545,000 | $ 60,555 | $ 122,000 |
| Scott, Minnesota | 6 | $ 370,000 | $ 61,666 | $ 134,000 |
| Wright, Minnesota | 6 | $ 520,000 | $ 86,666 | $ 153,000 |
| Marion, Missouri | 6 | $ 340,000 | $ 56,666 | $ 61,000 |
| Miami-Dade, Florida | 5 | $ 945,000 | $ 189,000 | $ 297,000 |
| Sherburne, Minnesota | 5 | $ 475,000 | $ 95,000 | $ 87,000 |
| Ralls, Missouri | 5 | $ 265,000 | $ 53,000 | $ 102,000 |
| Rutherford, Tennessee | 5 | $ 545,000 | $ 109,000 | $ 96,000 |
| Washington, Minnesota | 4 | $ 540,000 | $ 135,000 | $ 113,000 |
| Los Angeles, California | 3 | $ 305,000 | $ 101,666 | $ 133,000 |
| Lake, Michigan | 3 | $ 285,000 | $ 95,000 | $ 109,000 |
| Anoka, Minnesota | 3 | $ 115,000 | $ 38,333 | $ 75,000 |
| Carver, Minnesota | 3 | $ 245,000 | $ 81,666 | $ 204,000 |
| Dakota, Minnesota | 3 | $ 275,000 | $ 91,666 | $ 144,000 |
| Morgan, Georgia | 2 | $ 90,000 | $ 45,000 | $ 50,000 |
| Winnebago, Illinois | 2 | $ 100,000 | $ 50,000 | $ 96,000 |
| Iowa, Iowa | 2 | $ 110,000 | $ 55,000 | $ 82,000 |
| Oakland, Michigan | 2 | $ 310,000 | $ 155,000 | $ 70,000 |
| Crow Wing, Minnesota | 2 | $ 260,000 | $ 130,000 | $ 169,000 |
| Ramsey, Minnesota | 2 | $ 40,000 | $ 20,000 | $ 100,000 |
| Clay, Missouri | 2 | $ 100,000 | $ 50,000 | $ 103,000 |
| Douglas, Nebraska | 2 | $ 60,000 | $ 30,000 | $ 64,000 |
| Bernalillo, New Mexico | 2 | $ 50,000 | $ 25,000 | $ 95,000 |
| Sandoval, New Mexico | 2 | $ 80,000 | $ 40,000 | $ 73,000 |
| Guilford, North Carolina | 2 | $ 250,000 | $ 125,000 | $ 60,000 |
| Chesterfield, Virginia | 2 | $ 70,000 | $ 35,000 | $ 233,000 |
| Lee, Alabama | 1 | $ 115,000 | $ 115,000 | $ 273,000 |
| Maricopa, Arizona | 1 | $ 15,000 | $ 15,000 | $ 33,000 |
| Pima, Arizona | 1 | $ 25,000 | $ 25,000 | $ 139,000 |
| Orange, California | 1 | $ 25,000 | $ 25,000 | $ 180,000 |
| Lake, Florida | 1 | $ 55,000 | $ 55,000 | $ 110,000 |
| Cobb, Georgia | 1 | $ 55,000 | $ 55,000 | $ 159,000 |
| Fulton, Georgia | 1 | $ 25,000 | $ 25,000 | $ 53,000 |
| Newton, Georgia | 1 | $ 125,000 | $ 125,000 | $ 77,000 |
| Adams, Illinois | 1 | $ 25,000 | $ 25,000 | $ 349,000 |
| Boone, Illinois | 1 | $ 25,000 | $ 25,000 | $ 121,000 |
| Cook, Illinois | 1 | $ 15,000 | $ 15,000 | $ 123,000 |
| Parke, Indiana | 1 | $ 75,000 | $ 75,000 | $ 132,000 |
| Benton, Iowa | 1 | $ 35,000 | $ 35,000 | $ 93,000 |
| Buchanan, Iowa | 1 | $ 105,000 | $ 105,000 | $ 126,000 |
| Johnson, Iowa | 1 | $ 35,000 | $ 35,000 | $ 128,000 |
| Jones, Iowa | 1 | $ 65,000 | $ 65,000 | $ 58,000 |
| Tama, Iowa | 1 | $ 25,000 | $ 25,000 | $ 99,000 |
| Warren, Iowa | 1 | $ 25,000 | $ 25,000 | $ 66,000 |
| Mecosta, Michigan | 1 | $ 25,000 | $ 25,000 | $ 136,000 |
| Cass, Minnesota | 1 | $ 55,000 | $ 55,000 | $ 130,000 |
| Chisago, Minnesota | 1 | $ 75,000 | $ 75,000 | $ 129,000 |
| Isanti, Minnesota | 1 | $ 315,000 | $ 315,000 | $ 175,000 |
| Kandiyohi, Minnesota | 1 | $ 15,000 | $ 15,000 | $ 169,000 |
| Mille Lacs, Minnesota | 1 | $ 95,000 | $ 95,000 | $ 73,000 |
| Jackson, Missouri | 1 | $ 5,000 | $ 5,000 | $ 92,000 |
| Jasper, Missouri | 1 | $ 5,000 | $ 5,000 | $ 48,000 |
| Monroe, Missouri | 1 | $ 15,000 | $ 15,000 | $ 71,000 |
| Newton, Missouri | 1 | $ 55,000 | $ 55,000 | $ 159,000 |
| Roosevelt, Montana | 1 | $ 75,000 | $ 75,000 | $ 93,000 |
| Gage, Nebraska | 1 | $ 75,000 | $ 75,000 | $ 68,000 |
| Nuckolls, Nebraska | 1 | $ 45,000 | $ 45,000 | $ 106,000 |
| Saratoga, New York | 1 | $ 45,000 | $ 45,000 | $ 164,000 |
| Henderson, North Carolina | 1 | $ 25,000 | $ 25,000 | $ 35,000 |
| Butler, Ohio | 1 | $ 85,000 | $ 85,000 | $ 158,000 |
| Crawford, Ohio | 1 | $ 35,000 | $ 35,000 | $ 119,000 |
| Jackson, Ohio | 1 | $ 65,000 | $ 65,000 | $ 113,000 |
| Hughes, South Dakota | 1 | $ 25,000 | $ 25,000 | $ 148,000 |
| Bedford, Tennessee | 1 | $ 215,000 | $ 215,000 | $ 47,000 |
| Cannon, Tennessee | 1 | $ 75,000 | $ 75,000 | $ 74,000 |
| Coffee, Tennessee | 1 | $ 35,000 | $ 35,000 | $ 105,000 |
| DeKalb, Tennessee | 1 | $ 115,000 | $ 115,000 | $ 100,000 |
| Skagit, Washington | 1 | $ 5,000 | $ 5,000 | $ 151,000 |
| Crawford, Wisconsin | 1 | $ 115,000 | $ 115,000 | $ 81,000 |
| Douglas, Wisconsin | 1 | $ 75,000 | $ 75,000 | $ 46,000 |
Mortgage Loan Application Detail Totals for Mill City Credit Union in 2018
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 |
|---|---|---|---|---|---|---|
| Other Purpose | 145 | $11,245,000 | $77,000 | $335,000 | $126,000 | $443,000 |
| Home Purchase | 45 | $7,285,000 | $161,000 | $355,000 | $81,000 | $401,000 |
| Home Improvement | 29 | $1,635,000 | $56,000 | $305,000 | $154,000 | $400,000 |
| Refinancing | 19 | $2,035,000 | $107,000 | $345,000 | $102,000 | $199,000 |
| Cash-out Refinancing | 11 | $1,145,000 | $104,000 | $255,000 | $89,000 | $234,000 |
| Not Applicable | 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 | 156 | $14,000,000 | $89,000 | $345,000 | $119,000 | $401,000 |
| Not Provided | 63 | $6,635,000 | $105,000 | $355,000 | $124,000 | $443,000 |
| Black or African American | 16 | $1,150,000 | $71,000 | $165,000 | $70,000 | $123,000 |
| Hispanic | 7 | $785,000 | $112,000 | $285,000 | $146,000 | $400,000 |
| Asian | 5 | $545,000 | $109,000 | $165,000 | $122,000 | $300,000 |
| Not applicable | 2 | $230,000 | $115,000 | $115,000 | $43,000 | $43,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 249 | $23,345,000 | $93,000 | $355,000 | $118,000 | $443,000 |
| 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 | 106 | $8,230,000 | $77,000 | $335,000 | $137,000 | $443,000 |
| Application Denied By Financial Institution | 57 | $4,525,000 | $79,000 | $305,000 | $90,000 | $305,000 |
| Application Withdrawn By Applicant | 51 | $4,695,000 | $92,000 | $345,000 | $138,000 | $401,000 |
| Loan Purchased By The Institution | 35 | $5,895,000 | $168,000 | $355,000 | $75,000 | $155,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Not applicable | 192 | $18,820,000 | $98,000 | $355,000 | $126,000 | $443,000 |
| Credit History | 19 | $1,575,000 | $82,000 | $205,000 | $87,000 | $234,000 |
| Collateral | 15 | $665,000 | $44,000 | $215,000 | $123,000 | $305,000 |
| Other | 12 | $1,370,000 | $114,000 | $305,000 | $70,000 | $164,000 |
| Debt-To-Income Ratio | 8 | $560,000 | $70,000 | $245,000 | $66,000 | $169,000 |
| Unverifiable Information | 2 | $140,000 | $70,000 | $85,000 | $72,000 | $98,000 |
| Credit Application Incomplete | 1 | $215,000 | $215,000 | $215,000 | $145,000 | $145,000 |
| 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 Mill City Credit Union's 2018 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 Mill City Credit Union'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 Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.
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