My Community Credit Union Mortgage Lending & HMDA Data, 2018
In 2018, My Community Credit Union of Midland, TX reported 72 mortgage applications totaling $14.9 million, down 22% from 2017. The average application was for $206,250, and applicants reported an average income of $154,902. 56% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Midland, TX (44), Odessa, TX (5) and Houston-The Woodlands-Sugar Land, TX (3) (applications in parentheses).
| Mortgage Company & Address | My Community Credit Union 600 W Louisiana Ave Midland, TX 79701 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2020 2019 2018 2017 |
| Total Number of Mortgage Applications | 72 |
| Total Mortgage Loan Application Amount | $14,850,000 |
| Average Mortgage Loan Application Amount | $206,250 |
| Highest Mortgage Loan Application Amount | $605,000 |
| Average Applicant Income | $154,902 |
| Highest Applicant Income | $2,029,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records My Community Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 My Community 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 37 | $10,105,000 | $273,000 | $605,000 | $208,000 | $2,029,000 |
| Cash-out Refinancing | 20 | $2,720,000 | $136,000 | $255,000 | $101,000 | $207,000 |
| Home Improvement | 9 | $1,265,000 | $140,000 | $205,000 | $101,000 | $192,000 |
| Refinancing | 6 | $760,000 | $126,000 | $235,000 | $88,000 | $184,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | 37 | $7,835,000 | $211,000 | $605,000 | $125,000 | $288,000 |
| Hispanic | 30 | $5,850,000 | $195,000 | $455,000 | $199,000 | $2,029,000 |
| Not Provided | 3 | $605,000 | $201,000 | $245,000 | $127,000 | $192,000 |
| Black or African American | 2 | $560,000 | $280,000 | $365,000 | $72,000 | $91,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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 | $14,825,000 | $208,000 | $605,000 | $156,000 | $2,029,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $25,000 | $25,000 | $25,000 | $75,000 | $75,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 40 | $7,360,000 | $184,000 | $415,000 | $128,000 | $946,000 |
| Preapproval Approved but not Accepted | 15 | $4,755,000 | $317,000 | $605,000 | $142,000 | $288,000 |
| Application Withdrawn By Applicant | 9 | $1,465,000 | $162,000 | $605,000 | $331,000 | $2,029,000 |
| Application Denied By Financial Institution | 7 | $1,155,000 | $165,000 | $325,000 | $102,000 | $201,000 |
| File Closed For Incompleteness | 1 | $115,000 | $115,000 | $115,000 | $184,000 | $184,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 65 | $13,695,000 | $210,000 | $605,000 | $160,000 | $2,029,000 |
| Credit History | 4 | $910,000 | $227,000 | $325,000 | $128,000 | $201,000 |
| Debt-To-Income Ratio | 2 | $190,000 | $95,000 | $125,000 | $75,000 | $95,000 |
| Collateral | 1 | $55,000 | $55,000 | $55,000 | $51,000 | $51,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 My Community 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 My Community 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.
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