Polish-Am Federal Credit Union Mortgage Lending & HMDA Data, 2022
In 2022, Polish-Am Federal Credit Union of Troy, MI reported 167 mortgage applications totaling $23.2 million, up 65% from 2021. The average application was for $138,952, and applicants reported an average income of $83,419. 83% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (124), Detroit-Dearborn-Livonia, MI (11) and Jackson, MI (2) (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 | 167 |
| Total Mortgage Loan Application Amount | $23,205,000 |
| Average Mortgage Loan Application Amount | $138,952 |
| Highest Mortgage Loan Application Amount | $565,000 |
| Average Applicant Income | $83,419 |
| Highest Applicant Income | $397,000 |
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records Polish-Am Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2022
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 | 93 | $15,375,000 | $165,000 | $535,000 | $84,000 | $389,000 |
| Cash-out Refinancing | 40 | $5,180,000 | $129,000 | $565,000 | $88,000 | $397,000 |
| Refinancing | 21 | $2,055,000 | $97,000 | $355,000 | $60,000 | $134,000 |
| Other Purpose | 13 | $595,000 | $45,000 | $85,000 | $103,000 | $194,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 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 | $22,910,000 | $139,000 | $565,000 | $84,000 | $397,000 |
| Asian | 2 | $260,000 | $130,000 | $165,000 | $53,000 | $63,000 |
| Black or African American | 1 | $35,000 | $35,000 | $35,000 | $67,000 | $67,000 |
| 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 |
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) | 167 | $23,205,000 | $138,000 | $565,000 | $83,000 | $397,000 |
| 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 | 138 | $17,660,000 | $127,000 | $565,000 | $84,000 | $397,000 |
| Application Withdrawn By Applicant | 21 | $3,865,000 | $184,000 | $325,000 | $81,000 | $262,000 |
| Application Approved But Not Accepted | 5 | $1,095,000 | $219,000 | $275,000 | $93,000 | $186,000 |
| Application Denied By Financial Institution | 2 | $540,000 | $270,000 | $355,000 | $49,000 | $57,000 |
| Preapproval Denied by Financial Institution | 1 | $45,000 | $45,000 | $45,000 | $8,000 | $8,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 |
|---|---|---|---|---|---|---|
| Not applicable | 164 | $22,620,000 | $137,000 | $565,000 | $84,000 | $397,000 |
| Other | 1 | $45,000 | $45,000 | $45,000 | $8,000 | $8,000 |
| Credit History | 1 | $185,000 | $185,000 | $185,000 | $57,000 | $57,000 |
| Debt-To-Income Ratio | 1 | $355,000 | $355,000 | $355,000 | $41,000 | $41,000 |
| 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 |
| 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 2022 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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