Second Federal Savings & Loan Mortgage Lending & HMDA Data, 2007
In 2007, Second Federal Savings & Loan of Cicero, IL reported 450 mortgage applications totaling $85.2 million, up 65% from 2006. The average application was for $189,257, and applicants reported an average income of $64,926. 73% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Chicago-Naperville-Joliet, IL (435), Lake County-Kenosha County, IL-WI (11) and Rockford, IL (4) (applications in parentheses).
| Mortgage Company & Address | Second Federal Savings & Loan 4811 W. Cermak Rd. Cicero, IL 60804 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 | 450 |
| Total Mortgage Loan Application Amount | $85,166,000 |
| Average Mortgage Loan Application Amount | $189,257 |
| Highest Mortgage Loan Application Amount | $906,000 |
| Average Applicant Income | $64,926 |
| Highest Applicant Income | $564,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Second Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cook, Illinois | 362 | $ 68,677,000 | $ 189,715 | $ 66,000 |
| Will, Illinois | 34 | $ 5,094,000 | $ 149,823 | $ 49,000 |
| Kane, Illinois | 19 | $ 2,966,000 | $ 156,105 | $ 44,000 |
| DuPage, Illinois | 16 | $ 4,305,000 | $ 269,062 | $ 77,000 |
| Lake, Illinois | 11 | $ 2,967,000 | $ 269,727 | $ 96,000 |
| Boone, Illinois | 2 | $ 249,000 | $ 124,500 | $ 40,000 |
| McHenry, Illinois | 2 | $ 321,000 | $ 160,500 | $ 49,000 |
| Winnebago, Illinois | 2 | $ 249,000 | $ 124,500 | $ 48,000 |
| DeKalb, Illinois | 1 | $ 90,000 | $ 90,000 | $ 41,000 |
| Kendall, Illinois | 1 | $ 248,000 | $ 248,000 | $ 54,000 |
Mortgage Loan Application Detail Totals for Second Federal Savings & Loan in 2007
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 | 280 | $53,730,000 | $191,000 | $906,000 | $71,000 | $564,000 |
| Home Purchase | 169 | $31,211,000 | $184,000 | $496,000 | $55,000 | $300,000 |
| Home Improvement | 1 | $225,000 | $225,000 | $225,000 | $42,000 | $42,000 |
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 |
|---|---|---|---|---|---|---|
| Hispanic | 437 | $81,695,000 | $186,000 | $906,000 | $63,000 | $564,000 |
| White | 8 | $2,740,000 | $342,000 | $521,000 | $148,000 | $255,000 |
| Black or African American | 5 | $731,000 | $146,000 | $290,000 | $55,000 | $100,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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 |
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) | 450 | $85,166,000 | $189,000 | $906,000 | $65,000 | $564,000 |
| 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 | 329 | $60,008,000 | $182,000 | $496,000 | $63,000 | $564,000 |
| Application Denied By Financial Institution | 70 | $15,046,000 | $214,000 | $525,000 | $62,000 | $294,000 |
| Application Withdrawn By Applicant | 37 | $6,887,000 | $186,000 | $475,000 | $90,000 | $529,000 |
| Application Approved But Not Accepted | 11 | $2,737,000 | $248,000 | $906,000 | $51,000 | $78,000 |
| File Closed For Incompleteness | 3 | $488,000 | $162,000 | $189,000 | $56,000 | $59,000 |
| 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 | 20 | $4,806,000 | $240,000 | $502,000 | $75,000 | $230,000 |
| Collateral | 18 | $4,557,000 | $253,000 | $525,000 | $77,000 | $294,000 |
| Mortgage Insurance Denied | 10 | $1,638,000 | $163,000 | $332,000 | $44,000 | $84,000 |
| Debt-To-Income Ratio | 6 | $1,169,000 | $194,000 | $262,000 | $43,000 | $59,000 |
| Employment History | 6 | $786,000 | $131,000 | $177,000 | $27,000 | $47,000 |
| Other | 5 | $997,000 | $199,000 | $241,000 | $61,000 | $90,000 |
| Unverifiable Information | 3 | $599,000 | $199,000 | $240,000 | $49,000 | $55,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $494,000 | $247,000 | $256,000 | $78,000 | $86,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Second Federal Savings & Loan's 2007 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 Second Federal Savings & Loan'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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