T&C Federal Credit Union Mortgage Lending & HMDA Data, 2007
In 2007, T&C Federal Credit Union of Pontiac, MI reported 996 mortgage applications totaling $57.7 million, up 26% from 2006. The average application was for $57,937, and applicants reported an average income of $63,919. 59% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (850), Detroit-Livonia-Dearborn, MI (12) and Ann Arbor, MI (11) (applications in parentheses).
| Mortgage Company & Address | T&C Federal Credit Union 44400 Woodward Ave. Pontiac, MI 48341 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 996 |
| Total Mortgage Loan Application Amount | $57,706,000 |
| Average Mortgage Loan Application Amount | $57,937 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $63,919 |
| Highest Applicant Income | $248,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records T&C Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Oakland, Michigan | 771 | $ 43,483,000 | $ 56,398 | $ 65,000 |
| Lapeer, Michigan | 44 | $ 2,074,000 | $ 47,136 | $ 58,000 |
| Macomb, Michigan | 23 | $ 1,600,000 | $ 69,565 | $ 58,000 |
| Wayne, Michigan | 12 | $ 1,411,000 | $ 117,583 | $ 55,000 |
| Washtenaw, Michigan | 11 | $ 719,000 | $ 65,363 | $ 77,000 |
| Livingston, Michigan | 9 | $ 458,000 | $ 50,888 | $ 98,000 |
| Genesee, Michigan | 4 | $ 373,000 | $ 93,250 | $ 47,000 |
| St. Clair, Michigan | 3 | $ 239,000 | $ 79,666 | $ 52,000 |
| Calhoun, Michigan | 1 | $ 59,000 | $ 59,000 | $ 55,000 |
| Clare, Michigan | 1 | $ 112,000 | $ 112,000 | $ 64,000 |
| Lenawee, Michigan | 1 | $ 80,000 | $ 80,000 | $ 64,000 |
Mortgage Loan Application Detail Totals for T&C Federal Credit Union 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 |
|---|---|---|---|---|---|---|
| Home Improvement | 721 | $23,276,000 | $32,000 | $215,000 | $67,000 | $240,000 |
| Refinancing | 151 | $18,369,000 | $121,000 | $358,000 | $59,000 | $248,000 |
| Home Purchase | 124 | $16,061,000 | $129,000 | $417,000 | $52,000 | $145,000 |
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 | 739 | $43,295,000 | $58,000 | $417,000 | $67,000 | $248,000 |
| Black or African American | 146 | $8,700,000 | $59,000 | $352,000 | $53,000 | $131,000 |
| Hispanic | 92 | $3,985,000 | $43,000 | $220,000 | $63,000 | $182,000 |
| Not Provided | 12 | $1,510,000 | $125,000 | $200,000 | $58,000 | $145,000 |
| American Indian or Alaskan Native | 5 | $199,000 | $39,000 | $68,000 | $50,000 | $100,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $17,000 | $8,000 | $12,000 | $43,000 | $58,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 995 | $57,579,000 | $57,000 | $417,000 | $64,000 | $248,000 |
| FHA-insured (Federal Housing Administration) | 1 | $127,000 | $127,000 | $127,000 | $65,000 | $65,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Originated | 588 | $37,902,000 | $64,000 | $417,000 | $67,000 | $248,000 |
| Application Withdrawn By Applicant | 216 | $7,981,000 | $36,000 | $167,000 | $68,000 | $240,000 |
| Application Denied By Financial Institution | 154 | $7,049,000 | $45,000 | $295,000 | $52,000 | $155,000 |
| Application Approved But Not Accepted | 15 | $1,951,000 | $130,000 | $190,000 | $50,000 | $152,000 |
| Preapproval Approved but not Accepted | 11 | $1,563,000 | $142,000 | $300,000 | $69,000 | $145,000 |
| Preapproval Denied by Financial Institution | 11 | $1,089,000 | $99,000 | $175,000 | $47,000 | $72,000 |
| File Closed For Incompleteness | 1 | $171,000 | $171,000 | $171,000 | $60,000 | $60,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 73 | $3,453,000 | $47,000 | $295,000 | $54,000 | $155,000 |
| Credit History | 71 | $3,363,000 | $47,000 | $226,000 | $48,000 | $132,000 |
| Collateral | 8 | $420,000 | $52,000 | $150,000 | $70,000 | $113,000 |
| Other | 3 | $40,000 | $13,000 | $20,000 | $51,000 | $69,000 |
| Employment History | 2 | $27,000 | $13,000 | $20,000 | $73,000 | $87,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $100,000 | $100,000 | $100,000 | $29,000 | $29,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into T&C Federal Credit Union'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 T&C Federal 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.
For a list of all lenders in Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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