Polish-Am Federal Credit Union Mortgage Lending & HMDA Data, 2013
In 2013, Polish-Am Federal Credit Union of Troy, MI reported 137 mortgage applications totaling $13.1 million, up 10% from 2012. The average application was for $95,948, and applicants reported an average income of $59,262. 94% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (96), Detroit-Livonia-Dearborn, MI (30) 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 | 137 |
| Total Mortgage Loan Application Amount | $13,145,000 |
| Average Mortgage Loan Application Amount | $95,948 |
| Highest Mortgage Loan Application Amount | $440,000 |
| Average Applicant Income | $59,262 |
| Highest Applicant Income | $424,000 |
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records Polish-Am Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 69 | $ 6,680,000 | $ 96,811 | $ 56,000 |
| Wayne, Michigan | 30 | $ 1,756,000 | $ 58,533 | $ 56,000 |
| Oakland, Michigan | 27 | $ 3,646,000 | $ 135,037 | $ 73,000 |
| Clare, Michigan | 1 | $ 64,000 | $ 64,000 | $ 48,000 |
| Hillsdale, Michigan | 1 | $ 198,000 | $ 198,000 | $ 134,000 |
| Newaygo, Michigan | 1 | $ 40,000 | $ 40,000 | $ 10,000 |
| Washtenaw, Michigan | 1 | $ 130,000 | $ 130,000 | $ 65,000 |
Mortgage Loan Application Detail Totals for Polish-Am Federal Credit Union in 2013
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 | 100 | $9,453,000 | $94,000 | $440,000 | $55,000 | $172,000 |
| Refinancing | 34 | $3,628,000 | $106,000 | $396,000 | $72,000 | $424,000 |
| Home Improvement | 3 | $64,000 | $21,000 | $30,000 | $57,000 | $74,000 |
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 | 136 | $13,067,000 | $96,000 | $440,000 | $59,000 | $424,000 |
| Black or African American | 1 | $78,000 | $78,000 | $78,000 | $24,000 | $24,000 |
| 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 |
| 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) | 137 | $13,145,000 | $95,000 | $440,000 | $59,000 | $424,000 |
| 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 | 129 | $12,389,000 | $96,000 | $440,000 | $60,000 | $424,000 |
| Application Denied By Financial Institution | 7 | $596,000 | $85,000 | $150,000 | $44,000 | $90,000 |
| Application Withdrawn By Applicant | 1 | $160,000 | $160,000 | $160,000 | $43,000 | $43,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 4 | $376,000 | $94,000 | $150,000 | $47,000 | $90,000 |
| Debt-To-Income Ratio | 1 | $125,000 | $125,000 | $125,000 | $34,000 | $34,000 |
| Employment History | 1 | $50,000 | $50,000 | $50,000 | $55,000 | $55,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $45,000 | $45,000 | $45,000 | $30,000 | $30,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Polish-Am Federal Credit Union's 2013 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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