T&C Federal Credit Union Mortgage Lending & HMDA Data, 2005
In 2005, T&C Federal Credit Union of Pontiac, MI reported 1,056 mortgage applications totaling $58.1 million, down 2% from 2004. The average application was for $55,022, and applicants reported an average income of $60,134. 62% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Warren-Farmington Hills-Troy, MI (819), Detroit-Livonia-Dearborn, MI (97) and Flint, MI (40) (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 | 1,056 |
| Total Mortgage Loan Application Amount | $58,104,000 |
| Average Mortgage Loan Application Amount | $55,022 |
| Highest Mortgage Loan Application Amount | $1,959,000 |
| Average Applicant Income | $60,134 |
| Highest Applicant Income | $984,000 |
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(HMDA) records T&C Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Warren-Farmington Hills-Troy, MI | 819 | $ 43,207,000 | $ 52,755 | $ 67,000 |
| Detroit-Livonia-Dearborn, MI | 97 | $ 4,084,000 | $ 42,103 | $ 59,000 |
| Flint, MI | 40 | $ 2,116,000 | $ 52,900 | $ 74,000 |
| Ann Arbor, MI | 26 | $ 1,721,000 | $ 66,192 | $ 58,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 80,000 | $ 80,000 | $ 35,000 |
| Monroe, MI | 1 | $ 45,000 | $ 45,000 | $ 42,000 |
| Pittsburgh, PA | 1 | $ 164,000 | $ 164,000 | $ 52,000 |
Mortgage Loan Application Detail Totals for T&C Federal Credit Union in 2005
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 | 802 | $23,961,000 | $96,500 | $251,000 | $54,500 | $420,000 |
| Refinancing | 183 | $24,588,000 | $134,000 | $1,959,000 | $71,000 | $984,000 |
| Home Purchase | 71 | $9,555,000 | $129,500 | $399,000 | $62,500 | $154,000 |
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 | 889 | $48,539,000 | $115,000 | $1,959,000 | $59,333 | $984,000 |
| Black or African American | 114 | $5,664,000 | $61,500 | $360,000 | $49,500 | $312,000 |
| Hispanic | 33 | $2,139,000 | $73,000 | $228,000 | $40,000 | $92,000 |
| Not Provided | 9 | $1,032,000 | $117,000 | $219,000 | $68,000 | $151,000 |
| Asian | 4 | $207,000 | $51,000 | $100,000 | $84,000 | $155,000 |
| Native Hawaiian or Other Pacific Islander | 4 | $265,000 | $66,000 | $132,000 | $72,000 | $106,000 |
| American Indian or Alaskan Native | 3 | $258,000 | $86,000 | $206,000 | $68,000 | $94,000 |
| 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 |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,056 | $58,104,000 | $111,000 | $1,959,000 | $55,000 | $984,000 |
| 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 | 656 | $40,290,000 | $61,000 | $1,959,000 | $68,000 | $984,000 |
| Application Withdrawn By Applicant | 248 | $7,391,000 | $29,000 | $165,000 | $66,000 | $253,000 |
| Application Denied By Financial Institution | 120 | $6,537,000 | $54,000 | $525,000 | $59,000 | $139,000 |
| Preapproval Denied by Financial Institution | 21 | $2,280,000 | $108,000 | $300,000 | $44,000 | $99,000 |
| Application Approved But Not Accepted | 9 | $1,217,000 | $147,500 | $251,000 | $59,000 | $92,000 |
| Preapproval Approved but not Accepted | 2 | $389,000 | $194,000 | $219,000 | $67,000 | $69,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 78 | $4,937,000 | $76,000 | $525,000 | $48,500 | $139,000 |
| Debt-To-Income Ratio | 50 | $1,971,000 | $69,500 | $232,000 | $57,000 | $120,000 |
| Collateral | 4 | $636,000 | $159,000 | $280,000 | $67,000 | $103,000 |
| Other | 4 | $620,000 | $149,000 | $296,000 | $60,000 | $135,000 |
| Unverifiable Information | 2 | $350,000 | $175,000 | $300,000 | $74,500 | $99,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $272,000 | $136,000 | $137,000 | $46,500 | $61,000 |
| Credit Application Incomplete | 1 | $31,000 | $31,000 | $31,000 | $10,000 | $10,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into T&C Federal Credit Union's 2005 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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