Polish-Am Federal Credit Union Mortgage Lending & HMDA Data, 2017
In 2017, Polish-Am Federal Credit Union of Troy, MI reported 132 mortgage applications totaling $14.9 million, up 50% from 2016. The average application was for $112,696, and applicants reported an average income of $75,424. 88% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (98) and Detroit-Dearborn-Livonia, MI (20).
| 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 | 132 |
| Total Mortgage Loan Application Amount | $14,876,000 |
| Average Mortgage Loan Application Amount | $112,696 |
| Highest Mortgage Loan Application Amount | $500,000 |
| Average Applicant Income | $75,424 |
| Highest Applicant Income | $780,000 |
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records Polish-Am Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Polish-Am Federal Credit Union in 2017
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 | 80 | $9,198,000 | $114,000 | $433,000 | $62,000 | $228,000 |
| Refinancing | 50 | $5,605,000 | $112,000 | $500,000 | $98,000 | $780,000 |
| Home Improvement | 2 | $73,000 | $36,000 | $50,000 | $48,000 | $49,000 |
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 | 129 | $14,758,000 | $114,000 | $500,000 | $76,000 | $780,000 |
| Black or African American | 1 | $20,000 | $20,000 | $20,000 | $42,000 | $42,000 |
| Hispanic | 1 | $41,000 | $41,000 | $41,000 | $26,000 | $26,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $57,000 | $57,000 | $57,000 | $24,000 | $24,000 |
| 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) | 132 | $14,876,000 | $112,000 | $500,000 | $75,000 | $780,000 |
| 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 | 116 | $13,306,000 | $114,000 | $500,000 | $77,000 | $780,000 |
| Application Denied By Financial Institution | 10 | $1,065,000 | $106,000 | $175,000 | $73,000 | $193,000 |
| Application Withdrawn By Applicant | 5 | $265,000 | $53,000 | $74,000 | $38,000 | $60,000 |
| File Closed For Incompleteness | 1 | $240,000 | $240,000 | $240,000 | $72,000 | $72,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 4 | $597,000 | $149,000 | $175,000 | $54,000 | $76,000 |
| Other | 3 | $174,000 | $58,000 | $95,000 | $84,000 | $133,000 |
| Unverifiable Information | 1 | $50,000 | $50,000 | $50,000 | $32,000 | $32,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $134,000 | $134,000 | $134,000 | $42,000 | $42,000 |
| Credit History | 1 | $110,000 | $110,000 | $110,000 | $193,000 | $193,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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 2017 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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