Think Federal Credit Union Mortgage Lending & HMDA Data, 2004

In 2004, Think Federal Credit Union of Rochester, MN reported 2,629 mortgage applications totaling $283.9 million, down 2% from 2003. The average application was for $107,977, and applicants reported an average income of $77,060. 93% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Rochester, MN (1,274), Minneapolis-St. Paul-Bloomington, MN-WI (415) and Chicago-Naperville-Joliet, IL (253) (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 2,629
Total Mortgage Loan Application Amount $283,874,000
Average Mortgage Loan Application Amount $107,977
Highest Mortgage Loan Application Amount $730,000
Average Applicant Income $77,060
Highest Applicant Income $1,113,000

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records Think Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.

Mortgage Loan Application Totals for Think Federal Credit Union by County in 2004

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loans Applications Average Mortgage Loan Application Amount Average Applicant Income
Olmsted, Minnesota 1,102 $ 111,445,000 $ 101,129 $ 60,000
Hennepin, Minnesota 166 $ 21,492,000 $ 129,469 $ 72,000
Cook, Illinois 155 $ 21,327,000 $ 137,593 $ 82,000
Dodge, Minnesota 120 $ 10,154,000 $ 84,616 $ 61,000
Dakota, Minnesota 85 $ 10,032,000 $ 118,023 $ 90,000
Goodhue, Minnesota 84 $ 7,524,000 $ 89,571 $ 67,000
Wabasha, Minnesota 52 $ 4,669,000 $ 89,788 $ 72,000
Ramsey, Minnesota 51 $ 7,064,000 $ 138,509 $ 89,000
DuPage, Illinois 42 $ 4,885,000 $ 116,309 $ 76,000
Jackson, Missouri 39 $ 3,578,000 $ 91,743 $ 64,000
Mower, Minnesota 36 $ 3,130,000 $ 86,944 $ 55,000
St. Louis, Missouri 33 $ 4,356,000 $ 132,000 $ 103,000
Winona, Minnesota 29 $ 3,075,000 $ 106,034 $ 54,000
Johnson, Kansas 26 $ 3,024,000 $ 116,307 $ 88,000
Scott, Minnesota 26 $ 3,287,000 $ 126,423 $ 92,000
Washington, Minnesota 26 $ 4,563,000 $ 175,500 $ 112,000
Anoka, Minnesota 25 $ 3,385,000 $ 135,400 $ 95,000
Milwaukee, Wisconsin 24 $ 2,002,000 $ 83,416 $ 77,000
Will, Illinois 23 $ 3,470,000 $ 150,869 $ 109,000
Fillmore, Minnesota 23 $ 2,039,000 $ 88,652 $ 49,000
St. Charles, Missouri 21 $ 2,060,000 $ 98,095 $ 89,000
McHenry, Illinois 17 $ 1,478,000 $ 86,941 $ 192,000
Carver, Minnesota 17 $ 2,928,000 $ 172,235 $ 97,000
Maricopa, Arizona 14 $ 1,640,000 $ 117,142 $ 64,000
Lake, Illinois 13 $ 1,389,000 $ 106,846 $ 123,000
Kane, Illinois 12 $ 2,123,000 $ 176,916 $ 100,000
Clay, Missouri 10 $ 484,000 $ 48,400 $ 86,000
Douglas, Nebraska 10 $ 846,000 $ 84,600 $ 88,000
Polk, Iowa 8 $ 733,000 $ 91,625 $ 157,000
Rice, Minnesota 8 $ 716,000 $ 89,500 $ 78,000
St. Louis, Minnesota 8 $ 856,000 $ 107,000 $ 65,000
Wright, Minnesota 8 $ 1,115,000 $ 139,375 $ 96,000
Crow Wing, Minnesota 7 $ 699,000 $ 99,857 $ 55,000
Dane, Wisconsin 7 $ 1,173,000 $ 167,571 $ 103,000
Waukesha, Wisconsin 7 $ 725,000 $ 103,571 $ 122,000
Blue Earth, Minnesota 6 $ 756,000 $ 126,000 $ 76,000
Chisago, Minnesota 6 $ 799,000 $ 133,166 $ 86,000
Cass, North Dakota 6 $ 351,000 $ 58,500 $ 63,000
Orange, Florida 5 $ 801,000 $ 160,200 $ 77,000
Porter, Indiana 5 $ 473,000 $ 94,600 $ 55,000
Scott, Iowa 5 $ 469,000 $ 93,800 $ 65,000
Jefferson, Missouri 5 $ 347,000 $ 69,400 $ 70,000
Platte, Missouri 5 $ 339,000 $ 67,800 $ 80,000
St. Croix, Wisconsin 5 $ 727,000 $ 145,400 $ 80,000
Pima, Arizona 4 $ 275,000 $ 68,750 $ 115,000
Kendall, Illinois 4 $ 581,000 $ 145,250 $ 87,000
Madison, Illinois 4 $ 189,000 $ 47,250 $ 94,000
McLean, Illinois 4 $ 205,000 $ 51,250 $ 124,000
Carlton, Minnesota 4 $ 415,000 $ 103,750 $ 64,000
Cass, Minnesota 4 $ 357,000 $ 89,250 $ 57,000
Itasca, Minnesota 4 $ 429,000 $ 107,250 $ 93,000
Sherburne, Minnesota 4 $ 664,000 $ 166,000 $ 71,000
Greene, Missouri 4 $ 449,000 $ 112,250 $ 50,000
St. Louis City, Missouri 4 $ 408,000 $ 102,000 $ 63,000
Minnehaha, South Dakota 4 $ 603,000 $ 150,750 $ 87,000
La Crosse, Wisconsin 4 $ 460,000 $ 115,000 $ 100,000
Sauk, Wisconsin 4 $ 541,000 $ 135,250 $ 120,000
Washington, Wisconsin 4 $ 416,000 $ 104,000 $ 106,000
Brevard, Florida 3 $ 489,000 $ 163,000 $ 111,000
Lee, Florida 3 $ 412,000 $ 137,333 $ 79,000
Kankakee, Illinois 3 $ 243,000 $ 81,000 $ 137,000
Williamson, Illinois 3 $ 204,000 $ 68,000 $ 68,000
Winnebago, Illinois 3 $ 260,000 $ 86,666 $ 104,000
Linn, Iowa 3 $ 101,000 $ 33,666 $ 87,000
Sedgwick, Kansas 3 $ 257,000 $ 85,666 $ 110,000
Freeborn, Minnesota 3 $ 147,000 $ 49,000 $ 66,000
Otter Tail, Minnesota 3 $ 344,000 $ 114,666 $ 92,000
Stearns, Minnesota 3 $ 411,000 $ 137,000 $ 118,000
Steele, Minnesota 3 $ 215,000 $ 71,666 $ 38,000
Cass, Missouri 3 $ 489,000 $ 163,000 $ 58,000
Ray, Missouri 3 $ 413,000 $ 137,666 $ 57,000
Kenosha, Wisconsin 3 $ 335,000 $ 111,666 $ 100,000
Marathon, Wisconsin 3 $ 222,000 $ 74,000 $ 75,000
Racine, Wisconsin 3 $ 133,000 $ 44,333 $ 89,000
El Paso, Colorado 2 $ 200,000 $ 100,000 $ 80,000
Broward, Florida 2 $ 282,000 $ 141,000 $ 57,000
Champaign, Illinois 2 $ 214,000 $ 107,000 $ 94,000
Douglas, Illinois 2 $ 333,000 $ 166,500 $ 63,000
LaSalle, Illinois 2 $ 239,000 $ 119,500 $ 63,000
Ogle, Illinois 2 $ 199,000 $ 99,500 $ 110,000
Lake, Indiana 2 $ 348,000 $ 174,000 $ 74,000
Dallas, Iowa 2 $ 280,000 $ 140,000 $ 49,000
Howard, Iowa 2 $ 105,000 $ 52,500 $ 78,000
Johnson, Iowa 2 $ 295,000 $ 147,500 $ 88,000
Douglas, Kansas 2 $ 252,000 $ 126,000 $ 97,000
Ford, Kansas 2 $ 218,000 $ 109,000 $ 163,000
Shawnee, Kansas 2 $ 168,000 $ 84,000 $ 97,000
Aitkin, Minnesota 2 $ 225,000 $ 112,500 $ 46,000
Douglas, Minnesota 2 $ 208,000 $ 104,000 $ 107,000
Houston, Minnesota 2 $ 311,000 $ 155,500 $ 66,000
Hubbard, Minnesota 2 $ 312,000 $ 156,000 $ 109,000
Le Sueur, Minnesota 2 $ 257,000 $ 128,500 $ 74,000
Sibley, Minnesota 2 $ 269,000 $ 134,500 $ 65,000
Waseca, Minnesota 2 $ 95,000 $ 47,500 $ 49,000
Boone, Missouri 2 $ 117,000 $ 58,500 $ 106,000
Jasper, Missouri 2 $ 200,000 $ 100,000 $ 182,000
Lincoln, Missouri 2 $ 230,000 $ 115,000 $ 84,000
Stone, Missouri 2 $ 231,000 $ 115,500 $ 69,000
Warren, Missouri 2 $ 268,000 $ 134,000 $ 82,000
Lancaster, Nebraska 2 $ 153,000 $ 76,500 $ 54,000
Sarpy, Nebraska 2 $ 60,000 $ 30,000 $ 63,000
Bayfield, Wisconsin 2 $ 390,000 $ 195,000 $ 169,000
Brown, Wisconsin 2 $ 159,000 $ 79,500 $ 61,000
Dodge, Wisconsin 2 $ 174,000 $ 87,000 $ 81,000
Door, Wisconsin 2 $ 202,000 $ 101,000 $ 104,000
Eau Claire, Wisconsin 2 $ 192,000 $ 96,000 $ 78,000
Oneida, Wisconsin 2 $ 197,000 $ 98,500 $ 77,000
Cochise, Arizona 1 $ 315,000 $ 315,000 $ 130,000
La Paz, Arizona 1 $ 31,000 $ 31,000 $ 96,000
Mohave, Arizona 1 $ 153,000 $ 153,000 $ 49,000
Pinal, Arizona 1 $ 34,000 $ 34,000 $ 27,000
Yuma, Arizona 1 $ 139,000 $ 139,000 $ 74,000
Alachua, Florida 1 $ 164,000 $ 164,000 $ 107,000
Charlotte, Florida 1 $ 55,000 $ 55,000 $ 34,000
Gulf, Florida 1 $ 250,000 $ 250,000 $ 116,000
Indian River, Florida 1 $ 30,000 $ 30,000 $ 105,000
Lake, Florida 1 $ 35,000 $ 35,000 $ 52,000
Leon, Florida 1 $ 95,000 $ 95,000 $ 54,000
Miami-Dade, Florida 1 $ 126,000 $ 126,000 $ 63,000
Pasco, Florida 1 $ 150,000 $ 150,000 $ 83,000
Pinellas, Florida 1 $ 28,000 $ 28,000 $ 92,000
Sarasota, Florida 1 $ 198,000 $ 198,000 $ 59,000
Sumter, Florida 1 $ 122,000 $ 122,000 $ 24,000
Volusia, Florida 1 $ 179,000 $ 179,000 $ 64,000
Walton, Florida 1 $ 56,000 $ 56,000 $ 69,000
Calhoun, Illinois 1 $ 216,000 $ 216,000 $ 293,000
Christian, Illinois 1 $ 90,000 $ 90,000 $ 91,000
Menard, Illinois 1 $ 75,000 $ 75,000 $ 91,000
Rock Island, Illinois 1 $ 90,000 $ 90,000 $ 39,000
Sangamon, Illinois 1 $ 82,000 $ 82,000 $ 124,000
Tazewell, Illinois 1 $ 20,000 $ 20,000 $ 75,000
Hamilton, Indiana 1 $ 18,000 $ 18,000 $ 88,000
Black Hawk, Iowa 1 $ 155,000 $ 155,000 $ 45,000
Boone, Iowa 1 $ 154,000 $ 154,000 $ 69,000
Cedar, Iowa 1 $ 59,000 $ 59,000 $ 54,000
Guthrie, Iowa 1 $ 118,000 $ 118,000 $ 52,000
Jasper, Iowa 1 $ 88,000 $ 88,000 $ 92,000
Lee, Iowa 1 $ 45,000 $ 45,000 $ 81,000
Mahaska, Iowa 1 $ 85,000 $ 85,000 $ 62,000
Marshall, Iowa 1 $ 57,000 $ 57,000 $ 112,000
Warren, Iowa 1 $ 67,000 $ 67,000 $ 89,000
Winneshiek, Iowa 1 $ 25,000 $ 25,000 $ 74,000
Finney, Kansas 1 $ 31,000 $ 31,000 $ 27,000
Leavenworth, Kansas 1 $ 20,000 $ 20,000 $ 96,000
Miami, Kansas 1 $ 90,000 $ 90,000 $ 78,000
Becker, Minnesota 1 $ 50,000 $ 50,000 $ 38,000
Clay, Minnesota 1 $ 18,000 $ 18,000 $ 78,000
Clearwater, Minnesota 1 $ 54,000 $ 54,000 $ 66,000
Faribault, Minnesota 1 $ 38,000 $ 38,000 $ 34,000
Isanti, Minnesota 1 $ 180,000 $ 180,000 $ 74,000
Jackson, Minnesota 1 $ 80,000 $ 80,000 $ 77,000
Martin, Minnesota 1 $ 15,000 $ 15,000 $ 81,000
McLeod, Minnesota 1 $ 190,000 $ 190,000 $ 51,000
Meeker, Minnesota 1 $ 31,000 $ 31,000 $ 59,000
Mille Lacs, Minnesota 1 $ 140,000 $ 140,000 $ 78,000
Morrison, Minnesota 1 $ 60,000 $ 60,000 $ 76,000
Nobles, Minnesota 1 $ 13,000 $ 13,000 $ 71,000
Pine, Minnesota 1 $ 85,000 $ 85,000 $ 49,000
Renville, Minnesota 1 $ 44,000 $ 44,000 $ 55,000
Todd, Minnesota 1 $ 10,000 $ 10,000 $ 35,000
Watonwan, Minnesota 1 $ 98,000 $ 98,000 $ 49,000
Buchanan, Missouri 1 $ 269,000 $ 269,000 $ 134,000
Johnson, Missouri 1 $ 54,000 $ 54,000 $ 91,000
Morgan, Missouri 1 $ 75,000 $ 75,000 $ 42,000
Taney, Missouri 1 $ 57,000 $ 57,000 $ 64,000
Wright, Missouri 1 $ 71,000 $ 71,000 $ 54,000
Washington, Nebraska 1 $ 175,000 $ 175,000 $ 127,000
Morton, North Dakota 1 $ 20,000 $ 20,000 $ 33,000
Brookings, South Dakota 1 $ 114,000 $ 114,000 $ 24,000
Adams, Wisconsin 1 $ 85,000 $ 85,000 $ 53,000
Buffalo, Wisconsin 1 $ 77,000 $ 77,000 $ 52,000
Chippewa, Wisconsin 1 $ 25,000 $ 25,000 $ 143,000
Columbia, Wisconsin 1 $ 130,000 $ 130,000 $ 36,000
Dunn, Wisconsin 1 $ 248,000 $ 248,000 $ 119,000
Iowa, Wisconsin 1 $ 174,000 $ 174,000 $ 110,000
Jackson, Wisconsin 1 $ 16,000 $ 16,000 $ 28,000
Jefferson, Wisconsin 1 $ 138,000 $ 138,000 $ 53,000
Ozaukee, Wisconsin 1 $ 201,000 $ 201,000 $ 78,000
Pepin, Wisconsin 1 $ 170,000 $ 170,000 $ 88,000
Pierce, Wisconsin 1 $ 88,000 $ 88,000 $ 120,000
Portage, Wisconsin 1 $ 98,000 $ 98,000 $ 50,000
Sawyer, Wisconsin 1 $ 38,000 $ 38,000 $ 87,000
Shawano, Wisconsin 1 $ 22,000 $ 22,000 $ 110,000
Washburn, Wisconsin 1 $ 100,000 $ 100,000 $ 87,000

Mortgage Loan Application Detail Totals for Think Federal Credit Union in 2004

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 1,545 $171,273,000 $111,153 $730,000 $82,615 $1,113,000
Home Purchase 702 $101,668,000 $128,833 $652,000 $76,250 $705,000
Home Improvement 382 $10,933,000 $32,000 $290,000 $81,250 $636,000

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 2,038 $222,980,000 $103,750 $730,000 $79,833 $705,000
Not Provided 443 $45,353,000 $109,090 $500,000 $79,636 $373,000
Asian 58 $6,463,000 $116,500 $223,000 $56,000 $186,000
Black or African American 44 $3,825,000 $104,000 $222,000 $81,333 $193,000
Hispanic 37 $4,348,000 $92,000 $329,000 $73,000 $211,000
American Indian or Alaskan Native 4 $210,000 $46,666 $120,000 $443,000 $1,113,000
Native Hawaiian or Other Pacific Islander 3 $329,000 $121,000 $155,000 $53,500 $95,000
Not applicable 2 $366,000 $183,000 $185,000 $85,000 $114,000

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) 2,629 $283,874,000 $104,692 $730,000 $79,461 $1,113,000
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 2,452 $265,823,000 $106,583 $730,000 $81,916 $1,113,000
Application Denied By Financial Institution 108 $10,095,000 $90,500 $355,000 $57,000 $143,000
Application Withdrawn By Applicant 65 $7,573,000 $99,142 $500,000 $95,000 $295,000
Application Approved But Not Accepted 4 $383,000 $95,000 $180,000 $67,000 $105,000
File Closed For Incompleteness 0 $0 $0 $0 $0 $0
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
Credit History 52 $5,467,000 $96,600 $355,000 $61,200 $143,000
Debt-To-Income Ratio 43 $3,386,000 $88,571 $350,000 $55,000 $108,000
Other 6 $372,000 $69,000 $195,000 $51,333 $77,000
Collateral 4 $643,000 $160,000 $280,000 $85,000 $116,000
Insufficient Cash (Downpayment, Closing Cost) 2 $207,000 $103,000 $104,000 $68,000 $137,000
Unverifiable Information 1 $20,000 $20,000 $20,000 $45,000 $45,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Employment History 0 $0 $0 $0 $0 $0

Our comprehensive HMDA mortgage statistics provide invaluable insights into Think Federal Credit Union's 2004 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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