People Driven Credit Union Mortgage Lending & HMDA Data, 2022
In 2022, People Driven Credit Union of Southfield, MI reported 286 mortgage applications totaling $14.3 million. The average application was for $49,825, and applicants reported an average income of $83,800. 65% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (51), Detroit-Dearborn-Livonia, MI (42) and Ann Arbor, MI (13) (applications in parentheses).
| Mortgage Company & Address | People Driven Credit Union 24333 Lahser Rd Southfield, MI 48033 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2022 |
| Total Number of Mortgage Applications | 286 |
| Total Mortgage Loan Application Amount | $14,250,000 |
| Average Mortgage Loan Application Amount | $49,825 |
| Highest Mortgage Loan Application Amount | $265,000 |
| Average Applicant Income | $83,800 |
| Highest Applicant Income | $374,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records People Driven Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Warren-Troy-Farmington Hills, MI | 51 | $ 2,795,000 | $ 54,803 | $ 97,000 |
| Detroit-Dearborn-Livonia, MI | 42 | $ 1,880,000 | $ 44,761 | $ 78,000 |
| Ann Arbor, MI | 13 | $ 975,000 | $ 75,000 | $ 101,000 |
| Outside any metro area | 4 | $ 190,000 | $ 47,500 | $ 78,000 |
| Monroe, MI | 3 | $ 95,000 | $ 31,666 | $ 95,000 |
| Kalamazoo-Portage, MI | 1 | $ 105,000 | $ 105,000 | $ 80,000 |
| Muskegon, MI | 1 | $ 35,000 | $ 35,000 | $ 62,000 |
Mortgage Loan Application Detail Totals for People Driven 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 |
|---|---|---|---|---|---|---|
| Other Purpose | 143 | $6,915,000 | $48,000 | $265,000 | $85,000 | $374,000 |
| Home Improvement | 113 | $5,815,000 | $51,000 | $185,000 | $84,000 | $326,000 |
| Refinancing | 20 | $920,000 | $46,000 | $155,000 | $69,000 | $150,000 |
| Home Purchase | 10 | $600,000 | $60,000 | $125,000 | $94,000 | $194,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Cash-out Refinancing | 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 |
|---|---|---|---|---|---|---|
| Black or African American | 179 | $8,105,000 | $45,000 | $265,000 | $75,000 | $287,000 |
| White | 89 | $5,065,000 | $56,000 | $185,000 | $99,000 | $326,000 |
| Not Provided | 11 | $785,000 | $71,000 | $155,000 | $103,000 | $374,000 |
| Hispanic | 3 | $115,000 | $38,000 | $65,000 | $86,000 | $130,000 |
| Asian | 2 | $100,000 | $50,000 | $55,000 | $88,000 | $115,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $25,000 | $25,000 | $25,000 | $78,000 | $78,000 |
| Not applicable | 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) | 286 | $14,250,000 | $49,000 | $265,000 | $84,000 | $374,000 |
| 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 | 186 | $9,880,000 | $53,000 | $265,000 | $94,000 | $374,000 |
| Application Denied By Financial Institution | 61 | $2,345,000 | $38,000 | $135,000 | $61,000 | $194,000 |
| Application Withdrawn By Applicant | 39 | $2,025,000 | $51,000 | $175,000 | $70,000 | $234,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 225 | $11,905,000 | $52,000 | $265,000 | $90,000 | $374,000 |
| Credit History | 40 | $1,470,000 | $36,000 | $75,000 | $62,000 | $194,000 |
| Collateral | 8 | $260,000 | $32,000 | $75,000 | $62,000 | $144,000 |
| Other | 7 | $265,000 | $37,000 | $55,000 | $51,000 | $79,000 |
| Debt-To-Income Ratio | 4 | $250,000 | $62,000 | $135,000 | $74,000 | $110,000 |
| Unverifiable Information | 2 | $100,000 | $50,000 | $55,000 | $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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into People Driven 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 People Driven 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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