Rock Valley Credit Union Mortgage Lending & HMDA Data, 2017
In 2017, Rock Valley Credit Union of Loves Park, IL reported 62 mortgage applications totaling $3.5 million. The average application was for $56,854, and applicants reported an average income of $55,709. 77% of its applications resulted in an originated loan and 15% were denied. Its largest market was Rockford, IL (56).
| Mortgage Company & Address | Rock Valley Credit Union 1201 Clifford Ave Loves Park, IL 61111 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 |
| Total Number of Mortgage Applications | 62 |
| Total Mortgage Loan Application Amount | $3,525,000 |
| Average Mortgage Loan Application Amount | $56,854 |
| Highest Mortgage Loan Application Amount | $189,000 |
| Average Applicant Income | $55,709 |
| Highest Applicant Income | $132,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Rock Valley Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Rock Valley 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 |
|---|---|---|---|---|---|---|
| Refinancing | 44 | $3,053,000 | $69,000 | $189,000 | $56,000 | $130,000 |
| Home Improvement | 18 | $472,000 | $26,000 | $117,000 | $55,000 | $132,000 |
| Home Purchase | 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 | 56 | $3,142,000 | $56,000 | $189,000 | $57,000 | $132,000 |
| Hispanic | 4 | $190,000 | $47,000 | $100,000 | $39,000 | $65,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $153,000 | $153,000 | $153,000 | $70,000 | $70,000 |
| Black or African American | 1 | $40,000 | $40,000 | $40,000 | $65,000 | $65,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 62 | $3,525,000 | $56,000 | $189,000 | $56,000 | $132,000 |
| 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 | 48 | $2,537,000 | $52,000 | $153,000 | $60,000 | $132,000 |
| Application Denied By Financial Institution | 9 | $579,000 | $64,000 | $189,000 | $40,000 | $64,000 |
| Application Withdrawn By Applicant | 4 | $292,000 | $73,000 | $155,000 | $42,000 | $49,000 |
| File Closed For Incompleteness | 1 | $117,000 | $117,000 | $117,000 | $70,000 | $70,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 7 | $425,000 | $60,000 | $189,000 | $46,000 | $64,000 |
| Debt-To-Income Ratio | 2 | $154,000 | $77,000 | $101,000 | $18,000 | $19,000 |
| 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 |
| 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 Rock Valley 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 Rock Valley 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.
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