Security Credit Union Mortgage Lending & HMDA Data, 2022
In 2022, Security Credit Union of Holly, MI reported 453 mortgage applications totaling $34.5 million, down 25% from 2021. The average application was for $76,125, and applicants reported an average income of $66,757. 65% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (181), Flint, MI (145) and Saginaw, MI (32) (applications in parentheses).
| Mortgage Company & Address | Security Credit Union 5255 Security Park Blvd Holly, MI 48442 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 |
| Total Number of Mortgage Applications | 453 |
| Total Mortgage Loan Application Amount | $34,485,000 |
| Average Mortgage Loan Application Amount | $76,125 |
| Highest Mortgage Loan Application Amount | $545,000 |
| Average Applicant Income | $66,757 |
| Highest Applicant Income | $349,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Security Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Security 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 | 196 | $10,260,000 | $52,000 | $305,000 | $63,000 | $199,000 |
| Home Improvement | 102 | $4,710,000 | $46,000 | $265,000 | $74,000 | $250,000 |
| Home Purchase | 72 | $9,490,000 | $131,000 | $335,000 | $66,000 | $150,000 |
| Cash-out Refinancing | 60 | $7,390,000 | $123,000 | $295,000 | $66,000 | $240,000 |
| Refinancing | 23 | $2,635,000 | $114,000 | $545,000 | $71,000 | $349,000 |
| 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 | 362 | $29,070,000 | $80,000 | $335,000 | $68,000 | $250,000 |
| Black or African American | 55 | $3,105,000 | $56,000 | $545,000 | $66,000 | $349,000 |
| Not Provided | 23 | $1,125,000 | $48,000 | $195,000 | $55,000 | $200,000 |
| Hispanic | 9 | $805,000 | $89,000 | $165,000 | $51,000 | $84,000 |
| Asian | 2 | $220,000 | $110,000 | $115,000 | $83,000 | $125,000 |
| Not applicable | 2 | $160,000 | $80,000 | $95,000 | $57,000 | $62,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 451 | $34,195,000 | $75,000 | $545,000 | $67,000 | $349,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $290,000 | $145,000 | $165,000 | $58,000 | $82,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 293 | $22,845,000 | $77,000 | $335,000 | $67,000 | $250,000 |
| Application Approved But Not Accepted | 70 | $5,210,000 | $74,000 | $545,000 | $76,000 | $349,000 |
| Application Denied By Financial Institution | 67 | $4,375,000 | $65,000 | $175,000 | $58,000 | $200,000 |
| Application Withdrawn By Applicant | 15 | $1,475,000 | $98,000 | $285,000 | $67,000 | $146,000 |
| File Closed For Incompleteness | 8 | $580,000 | $72,000 | $135,000 | $53,000 | $96,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 310 | $15,880,000 | $51,000 | $305,000 | $66,000 | $250,000 |
| Not applicable | 136 | $17,740,000 | $130,000 | $545,000 | $67,000 | $349,000 |
| Credit History | 5 | $615,000 | $123,000 | $175,000 | $72,000 | $121,000 |
| Other | 2 | $250,000 | $125,000 | $145,000 | $76,000 | $116,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 Security 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 Security 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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with aggregated HMDA statistics today.
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