Principal Bank Mortgage Lending & HMDA Data, 2009
In 2009, Principal Bank of Des Moines, IA reported 182 mortgage applications totaling $6.2 million, down 91% from 2008. The average application was for $33,796, and applicants reported an average income of $92,763. 9% of its applications resulted in an originated loan and 74% were denied. Its largest markets were Des Moines-West Des Moines, IA (16), Minneapolis-St. Paul-Bloomington, MN-WI (6) and Atlanta-Sandy Springs-Marietta, GA (5) (applications in parentheses).
| Mortgage Company & Address | Principal Bank 711 High Street Des Moines, IA 50392 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 182 |
| Total Mortgage Loan Application Amount | $6,151,000 |
| Average Mortgage Loan Application Amount | $33,796 |
| Highest Mortgage Loan Application Amount | $200,000 |
| Average Applicant Income | $92,763 |
| Highest Applicant Income | $1,000,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Principal Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Des Moines-West Des Moines, IA | 16 | $ 447,000 | $ 27,937 | $ 102,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 6 | $ 246,000 | $ 41,000 | $ 63,000 |
| Atlanta-Sandy Springs-Marietta, GA | 5 | $ 195,000 | $ 39,000 | $ 152,000 |
| Boston-Quincy, MA | 5 | $ 204,000 | $ 40,800 | $ 166,000 |
| Cincinnati-Middletown, OH-KY-IN | 4 | $ 114,000 | $ 28,500 | $ 79,750 |
| Kansas City, MO-KS | 4 | $ 129,000 | $ 32,250 | $ 121,000 |
| Tampa-St. Petersburg-Clearwater, FL | 4 | $ 95,000 | $ 23,750 | $ 45,000 |
| Chicago-Naperville-Joliet, IL | 3 | $ 56,000 | $ 18,666 | $ 44,000 |
| Columbia, SC | 3 | $ 41,000 | $ 13,666 | $ 52,000 |
| Gary, IN | 3 | $ 130,000 | $ 43,333 | $ 150,000 |
| Modesto, CA | 3 | $ 140,000 | $ 46,666 | $ 118,000 |
| Burlington-South Burlington, VT | 2 | $ 107,000 | $ 53,500 | $ 47,000 |
| Dallas-Plano-Irving, TX | 2 | $ 96,000 | $ 48,000 | $ 189,000 |
| Denver-Aurora-Broomfield, CO | 2 | $ 28,000 | $ 14,000 | $ 70,000 |
| Fayetteville, NC | 2 | $ 92,000 | $ 46,000 | $ 45,000 |
| Fayetteville-Springdale-Rogers, AR-MO | 2 | $ 43,000 | $ 21,500 | $ 62,000 |
| Lake County-Kenosha County, IL-WI | 2 | $ 44,000 | $ 22,000 | $ 108,000 |
| Los Angeles-Long Beach-Glendale, CA | 2 | $ 40,000 | $ 20,000 | $ 146,000 |
| New York-White Plains-Wayne, NY-NJ | 2 | $ 55,000 | $ 27,500 | $ 87,000 |
| Newark-Union, NJ-PA | 2 | $ 255,000 | $ 127,500 | $ 88,000 |
| Orlando-Kissimmee, FL | 2 | $ 127,000 | $ 63,500 | $ 60,000 |
| Philadelphia, PA | 2 | $ 35,000 | $ 17,500 | $ 51,000 |
| Phoenix-Mesa-Scottsdale, AZ | 2 | $ 40,000 | $ 20,000 | $ 59,000 |
| Riverside-San Bernardino-Ontario, CA | 2 | $ 176,000 | $ 88,000 | $ 63,000 |
| San Diego-Carlsbad-San Marcos, CA | 2 | $ 89,000 | $ 44,500 | $ 98,000 |
| Syracuse, NY | 2 | $ 27,000 | $ 13,500 | $ 87,000 |
| Toledo, OH | 2 | $ 25,000 | $ 12,500 | $ 29,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 2 | $ 20,000 | $ 10,000 | $ 88,000 |
| Akron, OH | 1 | $ 9,000 | $ 9,000 | $ 88,000 |
| Albany-Schenectady-Troy, NY | 1 | $ 22,000 | $ 22,000 | $ 60,000 |
| Anniston-Oxford, AL | 1 | $ 25,000 | $ 25,000 | $ 43,000 |
| Austin-Round Rock, TX | 1 | $ 22,000 | $ 22,000 | $ 108,000 |
| Bakersfield, CA | 1 | $ 10,000 | $ 10,000 | $ 80,000 |
| Baton Rouge, LA | 1 | $ 34,000 | $ 34,000 | $ 176,000 |
| Cedar Rapids, IA | 1 | $ 19,000 | $ 19,000 | $ 46,000 |
| Champaign-Urbana, IL | 1 | $ 33,000 | $ 33,000 | $ 780,000 |
| Cheyenne, WY | 1 | $ 75,000 | $ 75,000 | $ 90,000 |
| Clarksville, TN-KY | 1 | $ 40,000 | $ 40,000 | $ 46,000 |
| Cleveland-Elyria-Mentor, OH | 1 | $ 44,000 | $ 44,000 | $ 125,000 |
| Columbus, GA-AL | 1 | $ 85,000 | $ 85,000 | $ 108,000 |
| Duluth, MN-WI | 1 | $ 15,000 | $ 15,000 | $ 48,000 |
| Edison-New Brunswick, NJ | 1 | $ 31,000 | $ 31,000 | $ 48,000 |
| Florence, SC | 1 | $ 10,000 | $ 10,000 | $ 19,000 |
| Greeley, CO | 1 | $ 40,000 | $ 40,000 | $ 113,000 |
| Green Bay, WI | 1 | $ 10,000 | $ 10,000 | $ 84,000 |
| Greenville-Mauldin-Easley, SC | 1 | $ 30,000 | $ 30,000 | $ 167,000 |
| Hagerstown-Martinsburg, MD-WV | 1 | $ 48,000 | $ 48,000 | $ 74,000 |
| Hartford-West Hartford-East Hartford, CT | 1 | $ 36,000 | $ 36,000 | $ 269,000 |
| Houston-Sugar Land-Baytown, TX | 1 | $ 17,000 | $ 17,000 | $ 66,000 |
| Jacksonville, FL | 1 | $ 11,000 | $ 11,000 | $ 30,000 |
| Knoxville, TN | 1 | $ 60,000 | $ 60,000 | $ 40,000 |
| Lafayette, LA | 1 | $ 15,000 | $ 15,000 | $ 50,000 |
| Lake Havasu City-Kingman, AZ | 1 | $ 24,000 | $ 24,000 | $ 47,000 |
| Las Vegas-Paradise, NV | 1 | $ 35,000 | $ 35,000 | $ 65,000 |
| Lincoln, NE | 1 | $ 40,000 | $ 40,000 | $ 87,000 |
| Little Rock-North Little Rock-Conway, AR | 1 | $ 21,000 | $ 21,000 | $ 67,000 |
| Memphis, TN-MS-AR | 1 | $ 16,000 | $ 16,000 | $ 48,000 |
| Miami-Miami Beach-Kendall, FL | 1 | $ 150,000 | $ 150,000 | $ 1,000,000 |
| Oakland-Fremont-Hayward, CA | 1 | $ 10,000 | $ 10,000 | $ 41,000 |
| Oklahoma City, OK | 1 | $ 25,000 | $ 25,000 | $ 149,000 |
| Omaha-Council Bluffs, NE-IA | 1 | $ 23,000 | $ 23,000 | $ 36,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 10,000 | $ 10,000 | $ 90,000 |
| Pittsburgh, PA | 1 | $ 19,000 | $ 19,000 | $ 30,000 |
| Portland-South Portland-Biddeford, ME | 1 | $ 10,000 | $ 10,000 | $ 60,000 |
| Provo-Orem, UT | 1 | $ 117,000 | $ 117,000 | $ 198,000 |
| Punta Gorda, FL | 1 | $ 40,000 | $ 40,000 | $ 56,000 |
| Raleigh-Cary, NC | 1 | $ 24,000 | $ 24,000 | $ 187,000 |
| Reading, PA | 1 | $ 14,000 | $ 14,000 | $ 104,000 |
| Richmond, VA | 1 | $ 150,000 | $ 150,000 | $ 25,000 |
| Rockingham County-Strafford County, NH | 1 | $ 26,000 | $ 26,000 | $ 98,000 |
| Rocky Mount, NC | 1 | $ 10,000 | $ 10,000 | $ 29,000 |
| San Antonio, TX | 1 | $ 20,000 | $ 20,000 | $ 94,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 1 | $ 159,000 | $ 159,000 | $ 85,000 |
| Santa Barbara-Santa Maria-Goleta, CA | 1 | $ 27,000 | $ 27,000 | $ 54,000 |
| Seattle-Bellevue-Everett, WA | 1 | $ 18,000 | $ 18,000 | $ 84,000 |
| Sioux City, IA-NE-SD | 1 | $ 47,000 | $ 47,000 | $ 77,000 |
| Sioux Falls, SD | 1 | $ 10,000 | $ 10,000 | $ 40,000 |
| Springfield, MA | 1 | $ 22,000 | $ 22,000 | $ 145,000 |
| St. Louis, MO-IL | 1 | $ 150,000 | $ 150,000 | $ 102,000 |
| Texarkana, Tx-Texarkana, AR | 1 | $ 25,000 | $ 25,000 | $ 83,000 |
| Tulsa, OK | 1 | $ 10,000 | $ 10,000 | $ 29,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 1 | $ 75,000 | $ 75,000 | $ 103,000 |
| Wilmington, DE-MD-NJ | 1 | $ 30,000 | $ 30,000 | $ 198,000 |
| Worcester, MA | 1 | $ 111,000 | $ 111,000 | $ 191,000 |
Mortgage Loan Application Detail Totals for Principal Bank 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 | 101 | $3,398,000 | $33,000 | $166,000 | $98,000 | $780,000 |
| Home Improvement | 68 | $1,963,000 | $28,000 | $200,000 | $75,000 | $433,000 |
| Home Purchase | 13 | $790,000 | $60,000 | $150,000 | $145,000 | $1,000,000 |
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 | 104 | $3,297,000 | $31,000 | $200,000 | $92,000 | $780,000 |
| Not Provided | 45 | $1,715,000 | $38,000 | $159,000 | $97,000 | $1,000,000 |
| Black or African American | 12 | $249,000 | $20,000 | $30,000 | $72,000 | $223,000 |
| Hispanic | 7 | $362,000 | $51,000 | $166,000 | $100,000 | $187,000 |
| Not applicable | 5 | $155,000 | $31,000 | $52,000 | $129,000 | $275,000 |
| American Indian or Alaskan Native | 4 | $134,000 | $33,000 | $63,000 | $102,000 | $165,000 |
| Asian | 4 | $228,000 | $57,000 | $150,000 | $58,000 | $102,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $11,000 | $11,000 | $11,000 | $30,000 | $30,000 |
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) | 182 | $6,151,000 | $33,000 | $200,000 | $93,000 | $1,000,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 134 | $4,622,000 | $34,000 | $200,000 | $89,000 | $1,000,000 |
| Application Approved But Not Accepted | 26 | $915,000 | $35,000 | $166,000 | $83,000 | $269,000 |
| Loan Originated | 16 | $309,000 | $19,000 | $55,000 | $105,000 | $198,000 |
| Loan Purchased By The Institution | 5 | $155,000 | $31,000 | $52,000 | $129,000 | $275,000 |
| Application Withdrawn By Applicant | 1 | $150,000 | $150,000 | $150,000 | $433,000 | $433,000 |
| File Closed For Incompleteness | 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 | 67 | $2,504,000 | $37,000 | $200,000 | $77,000 | $204,000 |
| Credit History | 52 | $1,546,000 | $29,000 | $150,000 | $105,000 | $1,000,000 |
| Collateral | 15 | $572,000 | $38,000 | $109,000 | $86,000 | $134,000 |
| 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 Principal Bank'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 Principal Bank'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.
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