Polish-Am Federal Credit Union Mortgage Lending & HMDA Data, 2009
In 2009, Polish-Am Federal Credit Union of Troy, MI reported 143 mortgage applications totaling $11.2 million, up 40% from 2008. The average application was for $77,986, and applicants reported an average income of $55,251. 92% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (89), Detroit-Livonia-Dearborn, MI (37) and Ann Arbor, MI (1) (applications in parentheses).
| Mortgage Company & Address | Polish-Am Federal Credit Union 11905 Joseph Campau Troy, MI 48083 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 143 |
| Total Mortgage Loan Application Amount | $11,152,000 |
| Average Mortgage Loan Application Amount | $77,986 |
| Highest Mortgage Loan Application Amount | $455,000 |
| Average Applicant Income | $55,251 |
| Highest Applicant Income | $600,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Polish-Am Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Macomb, Michigan | 63 | $ 4,822,000 | $ 76,539 | $ 53,000 |
| Wayne, Michigan | 37 | $ 1,473,000 | $ 39,810 | $ 40,000 |
| Oakland, Michigan | 25 | $ 3,068,000 | $ 122,720 | $ 89,000 |
| Alcona, Michigan | 1 | $ 31,000 | $ 31,000 | $ 66,000 |
| Arenac, Michigan | 1 | $ 75,000 | $ 75,000 | $ 101,000 |
| Ingham, Michigan | 1 | $ 146,000 | $ 146,000 | $ 48,000 |
| Lapeer, Michigan | 1 | $ 92,000 | $ 92,000 | $ 40,000 |
| Monroe, Michigan | 1 | $ 36,000 | $ 36,000 | $ 35,000 |
| Washtenaw, Michigan | 1 | $ 52,000 | $ 52,000 | $ 46,000 |
Mortgage Loan Application Detail Totals for Polish-Am Federal Credit Union in 2009
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 | 76 | $6,622,000 | $87,000 | $455,000 | $59,000 | $600,000 |
| Home Purchase | 67 | $4,530,000 | $67,000 | $250,000 | $51,000 | $191,000 |
| Home Improvement | 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 | 143 | $11,152,000 | $77,000 | $455,000 | $55,000 | $600,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 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) | 143 | $11,152,000 | $77,000 | $455,000 | $55,000 | $600,000 |
| 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 | 131 | $9,795,000 | $74,000 | $300,000 | $56,000 | $600,000 |
| Preapproval Denied by Financial Institution | 3 | $265,000 | $88,000 | $160,000 | $35,000 | $48,000 |
| Application Approved But Not Accepted | 3 | $250,000 | $83,000 | $130,000 | $50,000 | $64,000 |
| Application Withdrawn By Applicant | 3 | $245,000 | $81,000 | $125,000 | $46,000 | $72,000 |
| Application Denied By Financial Institution | 2 | $577,000 | $288,000 | $455,000 | $70,000 | $81,000 |
| Preapproval Approved but not Accepted | 1 | $20,000 | $20,000 | $20,000 | $33,000 | $33,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 3 | $265,000 | $88,000 | $160,000 | $35,000 | $48,000 |
| Collateral | 1 | $455,000 | $455,000 | $455,000 | $81,000 | $81,000 |
| Credit History | 1 | $122,000 | $122,000 | $122,000 | $60,000 | $60,000 |
| 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 Polish-Am Federal Credit Union's 2009 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 Polish-Am Federal 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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