Motor City Co-Op Credit Union Mortgage Lending & HMDA Data, 2003
In 2003, Motor City Co-Op Credit Union of Clinton Twp, MI reported 256 mortgage applications totaling $2.7 million. The average application was for $10,613, and applicants reported an average income of $49,960. 68% of its applications resulted in an originated loan and 28% were denied. Its largest markets were Detroit, MI (246), Flint, MI (8) and Ann Arbor, MI (2) (applications in parentheses).
| Mortgage Company & Address | Motor City Co-Op Credit Union 37321 Garfield Road Clinton Twp, MI 48036 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 256 |
| Total Mortgage Loan Application Amount | $2,717,000 |
| Average Mortgage Loan Application Amount | $10,613 |
| Highest Mortgage Loan Application Amount | $99,000 |
| Average Applicant Income | $49,960 |
| Highest Applicant Income | $140,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Motor City Co-Op Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Motor City Co-Op Credit Union 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 |
|---|---|---|---|---|---|---|
| Home Improvement (one-to-four family) | 174 | $1,210,000 | $6,000 | $65,000 | $49,000 | $140,000 |
| Refinancing (home purchase or home improvement, one-to-four family) | 82 | $1,507,000 | $18,000 | $99,000 | $52,000 | $137,000 |
| Home Purchase (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 164 | $2,065,000 | $12,000 | $99,000 | $55,000 | $140,000 |
| Black | 84 | $581,000 | $6,000 | $57,000 | $44,000 | $121,000 |
| Hispanic | 3 | $8,000 | $2,000 | $4,000 | $29,000 | $62,000 |
| Information not provided by applicant in mail or telephone application | 2 | $8,000 | $4,000 | $4,000 | $36,000 | $45,000 |
| Asian or Pacific Islander | 2 | $50,000 | $25,000 | $30,000 | $114,000 | $133,000 |
| Other | 1 | $5,000 | $5,000 | $5,000 | $31,000 | $31,000 |
| American Indian or Alaskan Native | 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) | 256 | $2,717,000 | $10,000 | $99,000 | $50,000 | $140,000 |
| 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 | 175 | $1,675,000 | $9,000 | $77,000 | $58,000 | $137,000 |
| Application Denied By Financial Institution | 72 | $797,000 | $11,000 | $99,000 | $40,000 | $96,000 |
| Application Withdrawn By Applicant | 5 | $183,000 | $36,000 | $90,000 | $69,000 | $81,000 |
| Application Approved But Not Accepted | 4 | $62,000 | $15,000 | $30,000 | $51,000 | $140,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Credit History | 37 | $326,000 | $8,000 | $65,000 | $46,000 | $96,000 |
| Debt-To-Income Ratio | 24 | $370,000 | $15,000 | $99,000 | $27,000 | $67,000 |
| Other | 7 | $54,000 | $7,000 | $30,000 | $38,000 | $61,000 |
| Collateral | 1 | $20,000 | $20,000 | $20,000 | $41,000 | $41,000 |
| Credit Application Incomplete | 1 | $5,000 | $5,000 | $5,000 | $46,000 | $46,000 |
| Unverifiable Information | 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 Motor City Co-Op Credit Union'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 Motor City Co-Op 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 Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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