South Central Bank Mortgage Lending & HMDA Data, 2003
In 2003, South Central Bank of Chicago, IL reported 6,060 mortgage applications totaling $148.8 million. The average application was for $24,551, and applicants reported an average income of $57,001. 37% of its applications resulted in an originated loan and 41% were denied. Its largest markets were Chicago, IL (2,099), Cleveland-Lorain-Elyria, OH (545) and Milwaukee-Waukesha, WI (225) (applications in parentheses).
| Mortgage Company & Address | South Central Bank 525 W Roosevelt Rd Chicago, IL 60607 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 6,060 |
| Total Mortgage Loan Application Amount | $148,785,000 |
| Average Mortgage Loan Application Amount | $24,551 |
| Highest Mortgage Loan Application Amount | $920,000 |
| Average Applicant Income | $57,001 |
| Highest Applicant Income | $900,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records South Central Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Chicago, IL | 2,099 | $ 105,473,000 | $ 50,249 | $ 67,000 |
| Cleveland-Lorain-Elyria, OH | 545 | $ 5,594,000 | $ 10,264 | $ 62,000 |
| Milwaukee-Waukesha, WI | 225 | $ 2,644,000 | $ 11,751 | $ 58,000 |
| Columbus, OH | 203 | $ 1,750,000 | $ 8,620 | $ 58,000 |
| Akron, OH | 194 | $ 1,824,000 | $ 9,402 | $ 51,000 |
| Detroit, MI | 191 | $ 1,882,000 | $ 9,853 | $ 56,000 |
| Toledo, OH | 172 | $ 1,562,000 | $ 9,081 | $ 63,000 |
| Youngstown-Warren, OH | 151 | $ 1,400,000 | $ 9,271 | $ 53,000 |
| Cincinnati, OH-KY-IN | 142 | $ 1,444,000 | $ 10,169 | $ 52,000 |
| Indianapolis, IN | 121 | $ 1,597,000 | $ 13,198 | $ 63,000 |
| St. Louis, MO-IL | 113 | $ 1,095,000 | $ 9,690 | $ 56,000 |
| Gary, IN | 104 | $ 1,176,000 | $ 11,307 | $ 59,000 |
| Canton-Massillon, OH | 100 | $ 1,048,000 | $ 10,480 | $ 50,000 |
| Fort Wayne, IN | 94 | $ 956,000 | $ 10,170 | $ 41,000 |
| Grand Rapids-Muskegon-Holland, MI | 93 | $ 814,000 | $ 8,752 | $ 50,000 |
| Lansing-East Lansing, MI | 50 | $ 501,000 | $ 10,020 | $ 48,000 |
| Pittsburgh, PA | 46 | $ 778,000 | $ 16,913 | $ 49,000 |
| Mansfield, OH | 45 | $ 427,000 | $ 9,488 | $ 43,000 |
| Dayton-Springfield, OH | 40 | $ 440,000 | $ 11,000 | $ 56,000 |
| Saginaw-Bay City-Midland, MI | 38 | $ 364,000 | $ 9,578 | $ 48,000 |
| Benton Harbor, MI | 35 | $ 525,000 | $ 15,000 | $ 49,000 |
| Racine, WI | 35 | $ 537,000 | $ 15,342 | $ 52,000 |
| Ann Arbor, MI | 33 | $ 338,000 | $ 10,242 | $ 58,000 |
| Harrisburg-Lebanon-Carlisle, PA | 33 | $ 407,000 | $ 12,333 | $ 43,000 |
| Allentown-Bethlehem-Easton, PA | 32 | $ 406,000 | $ 12,687 | $ 47,000 |
| York, PA | 31 | $ 477,000 | $ 15,387 | $ 59,000 |
| Champaign-Urbana, IL | 29 | $ 311,000 | $ 10,724 | $ 49,000 |
| Lima, OH | 28 | $ 296,000 | $ 10,571 | $ 51,000 |
| Kalamazoo-Battle Creek, MI | 27 | $ 259,000 | $ 9,592 | $ 45,000 |
| Kenosha, WI | 26 | $ 420,000 | $ 16,153 | $ 68,000 |
| Philadelphia, PA-NJ | 24 | $ 382,000 | $ 15,916 | $ 74,000 |
| Baltimore, MD | 23 | $ 410,000 | $ 17,826 | $ 66,000 |
| South Bend, IN | 19 | $ 187,000 | $ 9,842 | $ 53,000 |
| Sheboygan, WI | 18 | $ 221,000 | $ 12,277 | $ 48,000 |
| Hamilton-Middletown, OH | 17 | $ 174,000 | $ 10,235 | $ 61,000 |
| Lancaster, PA | 17 | $ 220,000 | $ 12,941 | $ 53,000 |
| Reading, PA | 15 | $ 239,000 | $ 15,933 | $ 46,000 |
| Elkhart-Goshen, IN | 11 | $ 118,000 | $ 10,727 | $ 57,000 |
| Jackson, MI | 11 | $ 102,000 | $ 9,272 | $ 57,000 |
| Flint, MI | 10 | $ 84,000 | $ 8,400 | $ 56,000 |
| Appleton-Oshkosh-Neenah, WI | 9 | $ 103,000 | $ 11,444 | $ 55,000 |
| Decatur, IL | 9 | $ 96,000 | $ 10,666 | $ 64,000 |
| Scranton--Wilkes-Barre--Hazleton, PA | 9 | $ 135,000 | $ 15,000 | $ 34,000 |
| Johnstown, PA | 7 | $ 106,000 | $ 15,142 | $ 34,000 |
| Kokomo, IN | 7 | $ 77,000 | $ 11,000 | $ 46,000 |
| Madison, WI | 7 | $ 60,000 | $ 8,571 | $ 58,000 |
| Muncie, IN | 7 | $ 60,000 | $ 8,571 | $ 45,000 |
| Peoria-Pekin, IL | 7 | $ 58,000 | $ 8,285 | $ 49,000 |
| Terre Haute, IN | 6 | $ 68,000 | $ 11,333 | $ 77,000 |
| Janesville-Beloit, WI | 4 | $ 60,000 | $ 15,000 | $ 57,000 |
| Eau Claire, WI | 3 | $ 53,000 | $ 17,666 | $ 30,000 |
| Erie, PA | 3 | $ 45,000 | $ 15,000 | $ 50,000 |
| Kankakee, IL | 3 | $ 21,000 | $ 7,000 | $ 70,000 |
| Sharon, PA | 3 | $ 19,000 | $ 6,333 | $ 77,000 |
| State College, PA | 3 | $ 41,000 | $ 13,666 | $ 53,000 |
| Lafayette, IN | 2 | $ 20,000 | $ 10,000 | $ 90,000 |
| Steubenville-Weirton, OH-WV | 2 | $ 32,000 | $ 16,000 | $ 49,000 |
| Bloomington, IN | 1 | $ 6,000 | $ 6,000 | $ 51,000 |
| Bloomington-Normal, IL | 1 | $ 4,000 | $ 4,000 | $ 70,000 |
| Cumberland, MD-WV | 1 | $ 10,000 | $ 10,000 | $ 24,000 |
| Des Moines, IA | 1 | $ 200,000 | $ 200,000 | $ 228,000 |
| Fort Collins-Loveland, CO | 1 | $ 153,000 | $ 153,000 | $ 228,000 |
| Fort Lauderdale, FL | 1 | $ 127,000 | $ 127,000 | $ 84,000 |
| Hagerstown, MD | 1 | $ 19,000 | $ 19,000 | $ 32,000 |
| Kansas City, MO-KS | 1 | $ 4,000 | $ 4,000 | $ 10,000 |
| New Orleans, LA | 1 | $ 127,000 | $ 127,000 | $ 125,000 |
| Phoenix-Mesa, AZ | 1 | $ 68,000 | $ 68,000 | $ 24,000 |
| Rockford, IL | 1 | $ 24,000 | $ 24,000 | $ 150,000 |
| Springfield, IL | 1 | $ 3,000 | $ 3,000 | $ 53,000 |
Mortgage Loan Application Detail Totals for South Central Bank in 2003
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 |
|---|---|---|---|---|---|---|
| Home Improvement (one-to-four family) | 5,394 | $55,148,000 | $12,454 | $192,000 | $53,727 | $463,000 |
| Refinancing (home purchase or home improvement, one-to-four family) | 578 | $75,163,000 | $112,000 | $620,000 | $126,076 | $780,000 |
| Home Purchase (one-to-four family) | 88 | $18,474,000 | $209,000 | $920,000 | $93,000 | $900,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 3,527 | $96,731,000 | $72,142 | $920,000 | $98,285 | $900,000 |
| Information not provided by applicant in mail or telephone application | 1,195 | $17,694,000 | $12,363 | $385,000 | $57,363 | $720,000 |
| Black | 804 | $14,159,000 | $13,750 | $375,000 | $51,625 | $780,000 |
| Hispanic | 419 | $10,168,000 | $24,777 | $300,000 | $58,333 | $260,000 |
| Asian or Pacific Islander | 76 | $9,173,000 | $27,714 | $550,000 | $69,571 | $317,000 |
| Other | 28 | $528,000 | $13,750 | $148,000 | $55,500 | $121,000 |
| American Indian or Alaskan Native | 11 | $332,000 | $26,800 | $228,000 | $52,600 | $104,000 |
| Not applicable | 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 |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 3,061 | $39,116,000 | $13,454 | $375,000 | $53,090 | $463,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 2,999 | $109,669,000 | $71,866 | $920,000 | $98,000 | $900,000 |
| 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 | 2,473 | $31,963,000 | $12,300 | $400,000 | $53,100 | $780,000 |
| Loan Originated | 2,213 | $84,016,000 | $75,666 | $620,000 | $100,466 | $900,000 |
| Application Approved But Not Accepted | 933 | $9,662,000 | $11,000 | $300,000 | $53,111 | $180,000 |
| Application Withdrawn By Applicant | 441 | $23,144,000 | $23,100 | $920,000 | $55,800 | $720,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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 | 1,165 | $13,127,000 | $12,111 | $168,000 | $53,000 | $780,000 |
| Debt-To-Income Ratio | 829 | $9,217,000 | $10,888 | $192,000 | $44,333 | $318,000 |
| Collateral | 139 | $4,687,000 | $23,000 | $400,000 | $61,625 | $178,000 |
| Unverifiable Information | 101 | $1,054,000 | $11,000 | $100,000 | $62,222 | $463,000 |
| Other | 95 | $1,635,000 | $11,750 | $226,000 | $65,500 | $242,000 |
| Employment History | 26 | $401,000 | $18,714 | $100,000 | $44,571 | $90,000 |
| Mortgage Insurance Denied | 20 | $616,000 | $21,200 | $214,000 | $78,400 | $154,000 |
| Credit Application Incomplete | 19 | $403,000 | $17,166 | $223,000 | $69,833 | $191,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $7,000 | $7,000 | $7,000 | $38,000 | $38,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into South Central Bank's 2003 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 South Central 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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