Think Federal Credit Union Mortgage Lending & HMDA Data, 2006
In 2006, Think Federal Credit Union of Rochester, MN reported 2,165 mortgage applications totaling $189.6 million, down 10% from 2005. The average application was for $87,577, and applicants reported an average income of $90,230. 77% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Rochester, MN (949), Minneapolis-St. Paul-Bloomington, MN-WI (418) and Chicago-Naperville-Joliet, IL (158) (applications in parentheses).
| Mortgage Company & Address | Think Federal Credit Union 5200 Members Parkway Nw Rochester, MN 55901 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 2,165 |
| Total Mortgage Loan Application Amount | $189,605,000 |
| Average Mortgage Loan Application Amount | $87,577 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $90,230 |
| Highest Applicant Income | $1,993,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Think Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Olmsted, Minnesota | 821 | $ 67,047,000 | $ 81,665 | $ 81,000 |
| Hennepin, Minnesota | 161 | $ 14,815,000 | $ 92,018 | $ 114,000 |
| Cook, Illinois | 84 | $ 8,531,000 | $ 101,559 | $ 104,000 |
| Dodge, Minnesota | 84 | $ 6,542,000 | $ 77,880 | $ 86,000 |
| Dakota, Minnesota | 78 | $ 6,704,000 | $ 85,948 | $ 94,000 |
| Ramsey, Minnesota | 62 | $ 6,120,000 | $ 98,709 | $ 96,000 |
| Goodhue, Minnesota | 47 | $ 4,047,000 | $ 86,106 | $ 83,000 |
| Wabasha, Minnesota | 44 | $ 3,996,000 | $ 90,818 | $ 75,000 |
| Fillmore, Minnesota | 37 | $ 2,241,000 | $ 60,567 | $ 68,000 |
| Washington, Minnesota | 32 | $ 2,862,000 | $ 89,437 | $ 128,000 |
| DuPage, Illinois | 30 | $ 2,999,000 | $ 99,966 | $ 109,000 |
| Winona, Minnesota | 30 | $ 1,973,000 | $ 65,766 | $ 63,000 |
| Mower, Minnesota | 29 | $ 2,466,000 | $ 85,034 | $ 91,000 |
| Scott, Minnesota | 26 | $ 2,677,000 | $ 102,961 | $ 97,000 |
| St. Louis, Missouri | 26 | $ 1,516,000 | $ 58,307 | $ 108,000 |
| Johnson, Kansas | 25 | $ 1,965,000 | $ 78,600 | $ 121,000 |
| Will, Illinois | 24 | $ 2,830,000 | $ 117,916 | $ 113,000 |
| Milwaukee, Wisconsin | 20 | $ 1,745,000 | $ 87,250 | $ 91,000 |
| Anoka, Minnesota | 19 | $ 1,119,000 | $ 58,894 | $ 75,000 |
| Jackson, Missouri | 19 | $ 1,488,000 | $ 78,315 | $ 86,000 |
| Douglas, Nebraska | 16 | $ 1,468,000 | $ 91,750 | $ 117,000 |
| Lake, Illinois | 14 | $ 1,375,000 | $ 98,214 | $ 93,000 |
| St. Charles, Missouri | 14 | $ 709,000 | $ 50,642 | $ 108,000 |
| Carver, Minnesota | 13 | $ 621,000 | $ 47,769 | $ 114,000 |
| Waukesha, Wisconsin | 13 | $ 861,000 | $ 66,230 | $ 100,000 |
| Maricopa, Arizona | 12 | $ 1,330,000 | $ 110,833 | $ 76,000 |
| Rice, Minnesota | 11 | $ 1,089,000 | $ 99,000 | $ 123,000 |
| Kane, Illinois | 10 | $ 645,000 | $ 64,500 | $ 112,000 |
| Polk, Iowa | 10 | $ 843,000 | $ 84,300 | $ 110,000 |
| McHenry, Illinois | 8 | $ 383,000 | $ 47,875 | $ 90,000 |
| St. Louis, Minnesota | 8 | $ 632,000 | $ 79,000 | $ 68,000 |
| Wright, Minnesota | 8 | $ 1,128,000 | $ 141,000 | $ 111,000 |
| La Crosse, Wisconsin | 8 | $ 339,000 | $ 42,375 | $ 77,000 |
| Sedgwick, Kansas | 7 | $ 662,000 | $ 94,571 | $ 94,000 |
| Stearns, Minnesota | 7 | $ 480,000 | $ 68,571 | $ 77,000 |
| Clay, Missouri | 7 | $ 456,000 | $ 65,142 | $ 87,000 |
| Sarpy, Nebraska | 7 | $ 403,000 | $ 57,571 | $ 69,000 |
| St. Croix, Wisconsin | 7 | $ 474,000 | $ 67,714 | $ 133,000 |
| Steele, Minnesota | 6 | $ 379,000 | $ 63,166 | $ 112,000 |
| Dane, Wisconsin | 6 | $ 397,000 | $ 66,166 | $ 102,000 |
| Pima, Arizona | 5 | $ 607,000 | $ 121,400 | $ 60,000 |
| Sherburne, Minnesota | 5 | $ 268,000 | $ 53,600 | $ 78,000 |
| Pierce, Wisconsin | 5 | $ 766,000 | $ 153,200 | $ 112,000 |
| Broward, Florida | 4 | $ 493,000 | $ 123,250 | $ 100,000 |
| Linn, Iowa | 4 | $ 409,000 | $ 102,250 | $ 236,000 |
| Boone, Missouri | 4 | $ 435,000 | $ 108,750 | $ 65,000 |
| Chippewa, Wisconsin | 4 | $ 183,000 | $ 45,750 | $ 50,000 |
| Polk, Wisconsin | 4 | $ 360,000 | $ 90,000 | $ 95,000 |
| Racine, Wisconsin | 4 | $ 187,000 | $ 46,750 | $ 129,000 |
| Sawyer, Wisconsin | 4 | $ 277,000 | $ 69,250 | $ 112,000 |
| Washington, Wisconsin | 4 | $ 541,000 | $ 135,250 | $ 63,000 |
| Mohave, Arizona | 3 | $ 207,000 | $ 69,000 | $ 56,000 |
| Pinal, Arizona | 3 | $ 331,000 | $ 110,333 | $ 91,000 |
| Suwannee, Florida | 3 | $ 286,000 | $ 95,333 | $ 78,000 |
| Lake, Indiana | 3 | $ 201,000 | $ 67,000 | $ 263,000 |
| LaPorte, Indiana | 3 | $ 277,000 | $ 92,333 | $ 64,000 |
| Shawnee, Kansas | 3 | $ 395,000 | $ 131,666 | $ 140,000 |
| Douglas, Minnesota | 3 | $ 789,000 | $ 263,000 | $ 172,000 |
| Le Sueur, Minnesota | 3 | $ 451,000 | $ 150,333 | $ 127,000 |
| Pine, Minnesota | 3 | $ 122,000 | $ 40,666 | $ 71,000 |
| Benton, Missouri | 3 | $ 308,000 | $ 102,666 | $ 133,000 |
| Cass, Missouri | 3 | $ 93,000 | $ 31,000 | $ 96,000 |
| St. Louis City, Missouri | 3 | $ 116,000 | $ 38,666 | $ 42,000 |
| Minnehaha, South Dakota | 3 | $ 188,000 | $ 62,666 | $ 78,000 |
| Hillsborough, Florida | 2 | $ 656,000 | $ 328,000 | $ 250,000 |
| Lake, Florida | 2 | $ 188,000 | $ 94,000 | $ 40,000 |
| Lee, Florida | 2 | $ 317,000 | $ 158,500 | $ 81,000 |
| Pinellas, Florida | 2 | $ 277,000 | $ 138,500 | $ 186,000 |
| Volusia, Florida | 2 | $ 286,000 | $ 143,000 | $ 72,000 |
| Champaign, Illinois | 2 | $ 87,000 | $ 43,500 | $ 65,000 |
| Kendall, Illinois | 2 | $ 73,000 | $ 36,500 | $ 67,000 |
| Madison, Illinois | 2 | $ 214,000 | $ 107,000 | $ 101,000 |
| Howard, Indiana | 2 | $ 112,000 | $ 56,000 | $ 64,000 |
| Cerro Gordo, Iowa | 2 | $ 40,000 | $ 20,000 | $ 26,000 |
| Ida, Iowa | 2 | $ 109,000 | $ 54,500 | $ 51,000 |
| Wyandotte, Kansas | 2 | $ 140,000 | $ 70,000 | $ 109,000 |
| Chisago, Minnesota | 2 | $ 177,000 | $ 88,500 | $ 180,000 |
| Cook, Minnesota | 2 | $ 189,000 | $ 94,500 | $ 73,000 |
| Crow Wing, Minnesota | 2 | $ 300,000 | $ 150,000 | $ 308,000 |
| Freeborn, Minnesota | 2 | $ 142,000 | $ 71,000 | $ 72,000 |
| Koochiching, Minnesota | 2 | $ 156,000 | $ 78,000 | $ 56,000 |
| Otter Tail, Minnesota | 2 | $ 84,000 | $ 42,000 | $ 50,000 |
| Johnson, Missouri | 2 | $ 228,000 | $ 114,000 | $ 90,000 |
| Stone, Missouri | 2 | $ 274,000 | $ 137,000 | $ 104,000 |
| Cass, North Dakota | 2 | $ 181,000 | $ 90,500 | $ 103,000 |
| Brown, South Dakota | 2 | $ 324,000 | $ 162,000 | $ 110,000 |
| Pennington, South Dakota | 2 | $ 602,000 | $ 301,000 | $ 84,000 |
| Bayfield, Wisconsin | 2 | $ 75,000 | $ 37,500 | $ 92,000 |
| Jefferson, Wisconsin | 2 | $ 119,000 | $ 59,500 | $ 94,000 |
| Kenosha, Wisconsin | 2 | $ 77,000 | $ 38,500 | $ 80,000 |
| Winnebago, Wisconsin | 2 | $ 320,000 | $ 160,000 | $ 204,000 |
| Bay, Florida | 1 | $ 165,000 | $ 165,000 | $ 43,000 |
| Clay, Florida | 1 | $ 75,000 | $ 75,000 | $ 16,000 |
| Indian River, Florida | 1 | $ 45,000 | $ 45,000 | $ 76,000 |
| Manatee, Florida | 1 | $ 50,000 | $ 50,000 | $ 107,000 |
| Marion, Florida | 1 | $ 33,000 | $ 33,000 | $ 29,000 |
| Palm Beach, Florida | 1 | $ 174,000 | $ 174,000 | $ 93,000 |
| Santa Rosa, Florida | 1 | $ 195,000 | $ 195,000 | $ 34,000 |
| Sarasota, Florida | 1 | $ 195,000 | $ 195,000 | $ 228,000 |
| Seminole, Florida | 1 | $ 25,000 | $ 25,000 | $ 79,000 |
| Sumter, Florida | 1 | $ 40,000 | $ 40,000 | $ 72,000 |
| LaSalle, Illinois | 1 | $ 83,000 | $ 83,000 | $ 59,000 |
| McLean, Illinois | 1 | $ 224,000 | $ 224,000 | $ 132,000 |
| Monroe, Illinois | 1 | $ 15,000 | $ 15,000 | $ 102,000 |
| Peoria, Illinois | 1 | $ 30,000 | $ 30,000 | $ 15,000 |
| St. Clair, Illinois | 1 | $ 25,000 | $ 25,000 | $ 14,000 |
| Stephenson, Illinois | 1 | $ 6,000 | $ 6,000 | $ 51,000 |
| Tazewell, Illinois | 1 | $ 20,000 | $ 20,000 | $ 16,000 |
| Union, Illinois | 1 | $ 55,000 | $ 55,000 | $ 50,000 |
| Vermilion, Illinois | 1 | $ 270,000 | $ 270,000 | $ 77,000 |
| Winnebago, Illinois | 1 | $ 20,000 | $ 20,000 | $ 77,000 |
| Boone, Indiana | 1 | $ 224,000 | $ 224,000 | $ 179,000 |
| Porter, Indiana | 1 | $ 50,000 | $ 50,000 | $ 70,000 |
| Tippecanoe, Indiana | 1 | $ 50,000 | $ 50,000 | $ 170,000 |
| Benton, Iowa | 1 | $ 103,000 | $ 103,000 | $ 72,000 |
| Marion, Iowa | 1 | $ 139,000 | $ 139,000 | $ 65,000 |
| Mitchell, Iowa | 1 | $ 76,000 | $ 76,000 | $ 43,000 |
| Scott, Iowa | 1 | $ 28,000 | $ 28,000 | $ 60,000 |
| Story, Iowa | 1 | $ 160,000 | $ 160,000 | $ 132,000 |
| Winneshiek, Iowa | 1 | $ 18,000 | $ 18,000 | $ 60,000 |
| Douglas, Kansas | 1 | $ 15,000 | $ 15,000 | $ 168,000 |
| Miami, Kansas | 1 | $ 34,000 | $ 34,000 | $ 76,000 |
| Penobscot, Maine | 1 | $ 28,000 | $ 28,000 | $ 28,000 |
| Blue Earth, Minnesota | 1 | $ 27,000 | $ 27,000 | $ 64,000 |
| Brown, Minnesota | 1 | $ 34,000 | $ 34,000 | $ 59,000 |
| Cass, Minnesota | 1 | $ 220,000 | $ 220,000 | $ 40,000 |
| Faribault, Minnesota | 1 | $ 29,000 | $ 29,000 | $ 12,000 |
| Houston, Minnesota | 1 | $ 42,000 | $ 42,000 | $ 71,000 |
| Lac qui Parle, Minnesota | 1 | $ 110,000 | $ 110,000 | $ 66,000 |
| Lake of the Woods, Minnesota | 1 | $ 30,000 | $ 30,000 | $ 71,000 |
| McLeod, Minnesota | 1 | $ 52,000 | $ 52,000 | $ 122,000 |
| Mille Lacs, Minnesota | 1 | $ 74,000 | $ 74,000 | $ 82,000 |
| Nicollet, Minnesota | 1 | $ 13,000 | $ 13,000 | $ 45,000 |
| Pope, Minnesota | 1 | $ 91,000 | $ 91,000 | $ 110,000 |
| Renville, Minnesota | 1 | $ 35,000 | $ 35,000 | $ 42,000 |
| Roseau, Minnesota | 1 | $ 56,000 | $ 56,000 | $ 55,000 |
| Waseca, Minnesota | 1 | $ 248,000 | $ 248,000 | $ 145,000 |
| Bollinger, Missouri | 1 | $ 15,000 | $ 15,000 | $ 26,000 |
| Cole, Missouri | 1 | $ 95,000 | $ 95,000 | $ 222,000 |
| Franklin, Missouri | 1 | $ 30,000 | $ 30,000 | $ 126,000 |
| Jasper, Missouri | 1 | $ 47,000 | $ 47,000 | $ 51,000 |
| Jefferson, Missouri | 1 | $ 65,000 | $ 65,000 | $ 83,000 |
| Platte, Missouri | 1 | $ 25,000 | $ 25,000 | $ 68,000 |
| Lancaster, Nebraska | 1 | $ 25,000 | $ 25,000 | $ 48,000 |
| Burleigh, North Dakota | 1 | $ 50,000 | $ 50,000 | $ 62,000 |
| Brown, Wisconsin | 1 | $ 130,000 | $ 130,000 | $ 108,000 |
| Burnett, Wisconsin | 1 | $ 55,000 | $ 55,000 | $ 322,000 |
| Dodge, Wisconsin | 1 | $ 115,000 | $ 115,000 | $ 144,000 |
| Door, Wisconsin | 1 | $ 134,000 | $ 134,000 | $ 111,000 |
| Douglas, Wisconsin | 1 | $ 25,000 | $ 25,000 | $ 110,000 |
| Dunn, Wisconsin | 1 | $ 66,000 | $ 66,000 | $ 88,000 |
| Jackson, Wisconsin | 1 | $ 85,000 | $ 85,000 | $ 32,000 |
| Ozaukee, Wisconsin | 1 | $ 63,000 | $ 63,000 | $ 91,000 |
| Price, Wisconsin | 1 | $ 183,000 | $ 183,000 | $ 173,000 |
| Rock, Wisconsin | 1 | $ 105,000 | $ 105,000 | $ 80,000 |
| Rusk, Wisconsin | 1 | $ 245,000 | $ 245,000 | $ 280,000 |
| Shawano, Wisconsin | 1 | $ 50,000 | $ 50,000 | $ 126,000 |
| Vilas, Wisconsin | 1 | $ 125,000 | $ 125,000 | $ 207,000 |
| Walworth, Wisconsin | 1 | $ 82,000 | $ 82,000 | $ 172,000 |
Mortgage Loan Application Detail Totals for Think Federal Credit Union in 2006
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 | 1,085 | $82,585,000 | $76,000 | $417,000 | $90,000 | $863,000 |
| Home Purchase | 733 | $96,021,000 | $130,000 | $1,000,000 | $85,000 | $1,993,000 |
| Home Improvement | 347 | $10,999,000 | $31,000 | $200,000 | $102,000 | $768,000 |
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 | 1,569 | $126,311,000 | $80,000 | $1,000,000 | $89,000 | $863,000 |
| Not Provided | 493 | $52,924,000 | $107,000 | $715,000 | $91,000 | $421,000 |
| Asian | 44 | $5,366,000 | $121,000 | $417,000 | $121,000 | $1,993,000 |
| Hispanic | 26 | $2,036,000 | $78,000 | $340,000 | $90,000 | $398,000 |
| Black or African American | 25 | $2,583,000 | $103,000 | $262,000 | $82,000 | $236,000 |
| Native Hawaiian or Other Pacific Islander | 4 | $203,000 | $50,000 | $98,000 | $91,000 | $172,000 |
| American Indian or Alaskan Native | 4 | $182,000 | $45,000 | $120,000 | $89,000 | $126,000 |
| 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) | 2,165 | $189,605,000 | $87,000 | $1,000,000 | $90,000 | $1,993,000 |
| 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 | 1,676 | $144,816,000 | $86,000 | $1,000,000 | $91,000 | $863,000 |
| Application Withdrawn By Applicant | 260 | $26,330,000 | $101,000 | $417,000 | $89,000 | $550,000 |
| Application Denied By Financial Institution | 204 | $17,034,000 | $83,000 | $600,000 | $86,000 | $1,993,000 |
| File Closed For Incompleteness | 16 | $817,000 | $51,000 | $139,000 | $84,000 | $153,000 |
| Application Approved But Not Accepted | 9 | $608,000 | $67,000 | $152,000 | $103,000 | $155,000 |
| 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 | 85 | $7,257,000 | $85,000 | $350,000 | $67,000 | $175,000 |
| Credit History | 82 | $6,632,000 | $80,000 | $340,000 | $95,000 | $1,993,000 |
| Collateral | 21 | $1,451,000 | $69,000 | $252,000 | $105,000 | $222,000 |
| Other | 8 | $599,000 | $74,000 | $175,000 | $142,000 | $532,000 |
| Unverifiable Information | 4 | $284,000 | $71,000 | $150,000 | $83,000 | $157,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $711,000 | $237,000 | $600,000 | $78,000 | $168,000 |
| Credit Application Incomplete | 1 | $100,000 | $100,000 | $100,000 | $29,000 | $29,000 |
| 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 Think Federal Credit Union's 2006 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 Think 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.
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with aggregated HMDA statistics today.
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