Think Mutual Bank Mortgage Lending & HMDA Data, 2008

In 2008, Think Mutual Bank of Rochester, MN reported 2,232 mortgage applications totaling $294.9 million, up 10% from 2007. The average application was for $132,125, and applicants reported an average income of $93,853. 60% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Rochester, MN (1,112), Minneapolis-St. Paul-Bloomington, MN-WI (377) and Chicago-Naperville-Joliet, IL (179) (applications in parentheses).

Mortgage Company & Address Think Mutual Bank
5200 Members Parkway Nw
Rochester, MN 55901
Tel #: available with data download
Federal Regulator * available with data download
Years 2010  2009  2008  2007  
Total Number of Mortgage Applications 2,232
Total Mortgage Loan Application Amount $294,904,000
Average Mortgage Loan Application Amount $132,125
Highest Mortgage Loan Application Amount $1,200,000
Average Applicant Income $93,853
Highest Applicant Income $760,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Think Mutual Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.

Mortgage Loan Application Totals for Think Mutual Bank by County in 2008

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loans Applications Average Mortgage Loan Application Amount Average Applicant Income
Olmsted, Minnesota 963 $ 111,464,000 $ 115,746 $ 84,000
Hennepin, Minnesota 135 $ 23,008,000 $ 170,429 $ 113,000
Cook, Illinois 109 $ 20,602,000 $ 189,009 $ 121,000
Dodge, Minnesota 92 $ 10,503,000 $ 114,163 $ 77,000
Dakota, Minnesota 67 $ 8,381,000 $ 125,089 $ 116,000
Goodhue, Minnesota 61 $ 6,800,000 $ 111,475 $ 89,000
Wabasha, Minnesota 57 $ 6,913,000 $ 121,280 $ 83,000
Ramsey, Minnesota 56 $ 6,983,000 $ 124,696 $ 99,000
DuPage, Illinois 35 $ 6,005,000 $ 171,571 $ 132,000
Johnson, Kansas 33 $ 4,767,000 $ 144,454 $ 112,000
Anoka, Minnesota 31 $ 5,728,000 $ 184,774 $ 97,000
Fillmore, Minnesota 28 $ 2,830,000 $ 101,071 $ 70,000
St. Louis, Missouri 28 $ 3,266,000 $ 116,642 $ 79,000
Mower, Minnesota 26 $ 3,016,000 $ 116,000 $ 74,000
Washington, Minnesota 22 $ 4,240,000 $ 192,727 $ 139,000
Jackson, Missouri 20 $ 1,844,000 $ 92,200 $ 87,000
Winona, Minnesota 19 $ 2,005,000 $ 105,526 $ 69,000
Will, Illinois 16 $ 3,431,000 $ 214,437 $ 120,000
Maricopa, Arizona 15 $ 3,080,000 $ 205,333 $ 87,000
Scott, Minnesota 15 $ 2,464,000 $ 164,266 $ 113,000
St. Charles, Missouri 15 $ 2,557,000 $ 170,466 $ 99,000
Carver, Minnesota 14 $ 2,976,000 $ 212,571 $ 169,000
Milwaukee, Wisconsin 13 $ 2,151,000 $ 165,461 $ 131,000
Waukesha, Wisconsin 11 $ 2,105,000 $ 191,363 $ 113,000
Pierce, Wisconsin 10 $ 2,046,000 $ 204,600 $ 125,000
Rice, Minnesota 9 $ 1,368,000 $ 152,000 $ 103,000
Sherburne, Minnesota 9 $ 1,337,000 $ 148,555 $ 99,000
Kane, Illinois 8 $ 1,485,000 $ 185,625 $ 130,000
Lake, Illinois 8 $ 1,049,000 $ 131,125 $ 111,000
Polk, Iowa 8 $ 950,000 $ 118,750 $ 85,000
St. Croix, Wisconsin 8 $ 1,174,000 $ 146,750 $ 98,000
Wright, Minnesota 7 $ 959,000 $ 137,000 $ 102,000
Dane, Wisconsin 7 $ 945,000 $ 135,000 $ 86,000
Washington, Wisconsin 7 $ 1,216,000 $ 173,714 $ 112,000
McHenry, Illinois 6 $ 381,000 $ 63,500 $ 124,000
Steele, Minnesota 6 $ 611,000 $ 101,833 $ 72,000
Jefferson, Missouri 6 $ 767,000 $ 127,833 $ 149,000
Douglas, Nebraska 6 $ 953,000 $ 158,833 $ 135,000
La Crosse, Wisconsin 6 $ 562,000 $ 93,666 $ 44,000
Lake, Indiana 5 $ 638,000 $ 127,600 $ 100,000
Cass, Minnesota 5 $ 1,163,000 $ 232,600 $ 167,000
Crow Wing, Minnesota 5 $ 1,708,000 $ 341,600 $ 113,000
Freeborn, Minnesota 5 $ 631,000 $ 126,200 $ 104,000
Martin, Minnesota 5 $ 332,000 $ 66,400 $ 70,000
St. Louis, Minnesota 5 $ 559,000 $ 111,800 $ 91,000
Stearns, Minnesota 5 $ 923,000 $ 184,600 $ 104,000
Kendall, Illinois 4 $ 370,000 $ 92,500 $ 70,000
LaSalle, Illinois 4 $ 224,000 $ 56,000 $ 59,000
Pima, Arizona 3 $ 282,000 $ 94,000 $ 81,000
Lee, Florida 3 $ 394,000 $ 131,333 $ 86,000
Volusia, Florida 3 $ 331,000 $ 110,333 $ 71,000
Howard, Iowa 3 $ 69,000 $ 23,000 $ 50,000
Story, Iowa 3 $ 331,000 $ 110,333 $ 58,000
Blue Earth, Minnesota 3 $ 369,000 $ 123,000 $ 57,000
Douglas, Minnesota 3 $ 955,000 $ 318,333 $ 126,000
McLeod, Minnesota 3 $ 336,000 $ 112,000 $ 50,000
Cass, Missouri 3 $ 560,000 $ 186,666 $ 65,000
St. Louis City, Missouri 3 $ 369,000 $ 123,000 $ 72,000
Buffalo, Wisconsin 3 $ 222,000 $ 74,000 $ 83,000
Chippewa, Wisconsin 3 $ 207,000 $ 69,000 $ 48,000
Ozaukee, Wisconsin 3 $ 342,000 $ 114,000 $ 116,000
Pepin, Wisconsin 3 $ 788,000 $ 262,666 $ 212,000
Alachua, Florida 2 $ 250,000 $ 125,000 $ 122,000
Indian River, Florida 2 $ 164,000 $ 82,000 $ 72,000
Logan, Illinois 2 $ 162,000 $ 81,000 $ 89,000
Rock Island, Illinois 2 $ 50,000 $ 25,000 $ 97,000
Union, Illinois 2 $ 362,000 $ 181,000 $ 71,000
Hamilton, Indiana 2 $ 820,000 $ 410,000 $ 212,000
Sedgwick, Kansas 2 $ 172,000 $ 86,000 $ 137,000
Chisago, Minnesota 2 $ 515,000 $ 257,500 $ 100,000
Faribault, Minnesota 2 $ 75,000 $ 37,500 $ 38,000
Grant, Minnesota 2 $ 136,000 $ 68,000 $ 52,000
Houston, Minnesota 2 $ 94,000 $ 47,000 $ 146,000
Itasca, Minnesota 2 $ 401,000 $ 200,500 $ 146,000
Nicollet, Minnesota 2 $ 132,000 $ 66,000 $ 54,000
Otter Tail, Minnesota 2 $ 231,000 $ 115,500 $ 114,000
Sibley, Minnesota 2 $ 274,000 $ 137,000 $ 45,000
Camden, Missouri 2 $ 286,000 $ 143,000 $ 70,000
Clay, Missouri 2 $ 110,000 $ 55,000 $ 67,000
Platte, Missouri 2 $ 194,000 $ 97,000 $ 77,000
Ray, Missouri 2 $ 292,000 $ 146,000 $ 136,000
Hughes, South Dakota 2 $ 163,000 $ 81,500 $ 64,000
Burnett, Wisconsin 2 $ 336,000 $ 168,000 $ 180,000
Columbia, Wisconsin 2 $ 350,000 $ 175,000 $ 74,000
Dunn, Wisconsin 2 $ 422,000 $ 211,000 $ 103,000
Eau Claire, Wisconsin 2 $ 223,000 $ 111,500 $ 89,000
Green, Wisconsin 2 $ 459,000 $ 229,500 $ 108,000
Jefferson, Wisconsin 2 $ 391,000 $ 195,500 $ 152,000
Kenosha, Wisconsin 2 $ 297,000 $ 148,500 $ 105,000
Oneida, Wisconsin 2 $ 173,000 $ 86,500 $ 103,000
Washburn, Wisconsin 2 $ 231,000 $ 115,500 $ 61,000
Riverside, California 1 $ 449,000 $ 449,000 $ 310,000
Clay, Florida 1 $ 230,000 $ 230,000 $ 77,000
Collier, Florida 1 $ 101,000 $ 101,000 $ 104,000
Hillsborough, Florida 1 $ 160,000 $ 160,000 $ 154,000
Lake, Florida 1 $ 120,000 $ 120,000 $ 56,000
Orange, Florida 1 $ 260,000 $ 260,000 $ 76,000
Pasco, Florida 1 $ 35,000 $ 35,000 $ 78,000
Sumter, Florida 1 $ 92,000 $ 92,000 $ 55,000
Forsyth, Georgia 1 $ 417,000 $ 417,000 $ 84,000
Grundy, Illinois 1 $ 129,000 $ 129,000 $ 94,000
Jackson, Illinois 1 $ 130,000 $ 130,000 $ 101,000
Kankakee, Illinois 1 $ 85,000 $ 85,000 $ 32,000
Madison, Illinois 1 $ 100,000 $ 100,000 $ 65,000
Sangamon, Illinois 1 $ 125,000 $ 125,000 $ 35,000
Winnebago, Illinois 1 $ 75,000 $ 75,000 $ 135,000
LaPorte, Indiana 1 $ 85,000 $ 85,000 $ 30,000
Marion, Indiana 1 $ 208,000 $ 208,000 $ 97,000
Porter, Indiana 1 $ 122,000 $ 122,000 $ 56,000
St. Joseph, Indiana 1 $ 124,000 $ 124,000 $ 82,000
Black Hawk, Iowa 1 $ 65,000 $ 65,000 $ 60,000
Cerro Gordo, Iowa 1 $ 308,000 $ 308,000 $ 200,000
Clinton, Iowa 1 $ 96,000 $ 96,000 $ 56,000
Hardin, Iowa 1 $ 82,000 $ 82,000 $ 31,000
Johnson, Iowa 1 $ 55,000 $ 55,000 $ 59,000
Kossuth, Iowa 1 $ 35,000 $ 35,000 $ 49,000
Scott, Iowa 1 $ 147,000 $ 147,000 $ 137,000
Winneshiek, Iowa 1 $ 40,000 $ 40,000 $ 31,000
Jackson, Kansas 1 $ 80,000 $ 80,000 $ 110,000
Leavenworth, Kansas 1 $ 193,000 $ 193,000 $ 81,000
Pottawatomie, Kansas 1 $ 130,000 $ 130,000 $ 110,000
Shawnee, Kansas 1 $ 10,000 $ 10,000 $ 60,000
Wyandotte, Kansas 1 $ 180,000 $ 180,000 $ 52,000
Norfolk, Massachusetts 1 $ 25,000 $ 25,000 $ 658,000
Aitkin, Minnesota 1 $ 222,000 $ 222,000 $ 99,000
Becker, Minnesota 1 $ 162,000 $ 162,000 $ 26,000
Benton, Minnesota 1 $ 158,000 $ 158,000 $ 71,000
Cottonwood, Minnesota 1 $ 20,000 $ 20,000 $ 70,000
Isanti, Minnesota 1 $ 25,000 $ 25,000 $ 153,000
Kandiyohi, Minnesota 1 $ 83,000 $ 83,000 $ 177,000
Lac qui Parle, Minnesota 1 $ 140,000 $ 140,000 $ 77,000
Le Sueur, Minnesota 1 $ 50,000 $ 50,000 $ 134,000
Pine, Minnesota 1 $ 49,000 $ 49,000 $ 19,000
Todd, Minnesota 1 $ 153,000 $ 153,000 $ 170,000
Waseca, Minnesota 1 $ 49,000 $ 49,000 $ 91,000
Adair, Missouri 1 $ 35,000 $ 35,000 $ 84,000
Boone, Missouri 1 $ 158,000 $ 158,000 $ 110,000
Buchanan, Missouri 1 $ 23,000 $ 23,000 $ 154,000
Cooper, Missouri 1 $ 60,000 $ 60,000 $ 36,000
Franklin, Missouri 1 $ 106,000 $ 106,000 $ 60,000
Greene, Missouri 1 $ 124,000 $ 124,000 $ 68,000
Johnson, Missouri 1 $ 140,000 $ 140,000 $ 90,000
Lincoln, Missouri 1 $ 141,000 $ 141,000 $ 111,000
Morgan, Missouri 1 $ 76,000 $ 76,000 $ 92,000
Newton, Missouri 1 $ 106,000 $ 106,000 $ 91,000
Stone, Missouri 1 $ 30,000 $ 30,000 $ 103,000
Texas, Missouri 1 $ 142,000 $ 142,000 $ 120,000
Warren, Missouri 1 $ 280,000 $ 280,000 $ 116,000
Wright, Missouri 1 $ 87,000 $ 87,000 $ 162,000
Lancaster, Nebraska 1 $ 39,000 $ 39,000 $ 100,000
Sarpy, Nebraska 1 $ 150,000 $ 150,000 $ 218,000
Grand Forks, North Dakota 1 $ 20,000 $ 20,000 $ 25,000
Stark, North Dakota 1 $ 68,000 $ 68,000 $ 87,000
Delaware, Oklahoma 1 $ 417,000 $ 417,000 $ 325,000
Delaware, Pennsylvania 1 $ 25,000 $ 25,000 $ 72,000
Minnehaha, South Dakota 1 $ 20,000 $ 20,000 $ 115,000
Pennington, South Dakota 1 $ 172,000 $ 172,000 $ 96,000
Guadalupe, Texas 1 $ 104,000 $ 104,000 $ 165,000
Harris, Texas 1 $ 440,000 $ 440,000 $ 180,000
Duchesne, Utah 1 $ 170,000 $ 170,000 $ 114,000
Barron, Wisconsin 1 $ 84,000 $ 84,000 $ 145,000
Bayfield, Wisconsin 1 $ 175,000 $ 175,000 $ 74,000
Brown, Wisconsin 1 $ 132,000 $ 132,000 $ 58,000
Calumet, Wisconsin 1 $ 125,000 $ 125,000 $ 42,000
Door, Wisconsin 1 $ 71,000 $ 71,000 $ 111,000
Douglas, Wisconsin 1 $ 50,000 $ 50,000 $ 48,000
Jackson, Wisconsin 1 $ 100,000 $ 100,000 $ 47,000
Lafayette, Wisconsin 1 $ 35,000 $ 35,000 $ 106,000
Manitowoc, Wisconsin 1 $ 106,000 $ 106,000 $ 29,000
Oconto, Wisconsin 1 $ 41,000 $ 41,000 $ 30,000
Outagamie, Wisconsin 1 $ 280,000 $ 280,000 $ 154,000
Polk, Wisconsin 1 $ 48,000 $ 48,000 $ 124,000
Racine, Wisconsin 1 $ 189,000 $ 189,000 $ 78,000
Richland, Wisconsin 1 $ 100,000 $ 100,000 $ 66,000
Rock, Wisconsin 1 $ 75,000 $ 75,000 $ 34,000
Sawyer, Wisconsin 1 $ 100,000 $ 100,000 $ 40,000
Sheboygan, Wisconsin 1 $ 250,000 $ 250,000 $ 84,000

Mortgage Loan Application Detail Totals for Think Mutual Bank in 2008

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 1,237 $160,310,000 $129,000 $810,000 $98,000 $487,000
Home Purchase 835 $129,107,000 $154,000 $1,200,000 $85,000 $760,000
Home Improvement 160 $5,487,000 $34,000 $170,000 $108,000 $679,000

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 1,600 $196,106,000 $122,000 $800,000 $92,000 $760,000
Not Provided 529 $83,108,000 $157,000 $1,200,000 $101,000 $658,000
Asian 44 $7,000,000 $159,000 $1,012,000 $102,000 $492,000
Hispanic 29 $3,909,000 $134,000 $410,000 $106,000 $492,000
Black or African American 24 $3,937,000 $164,000 $478,000 $73,000 $211,000
American Indian or Alaskan Native 5 $812,000 $162,000 $335,000 $65,000 $81,000
Native Hawaiian or Other Pacific Islander 1 $32,000 $32,000 $32,000 $66,000 $66,000
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) 2,232 $294,904,000 $132,000 $1,200,000 $94,000 $760,000
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 1,337 $160,142,000 $119,000 $800,000 $98,000 $760,000
Application Withdrawn By Applicant 545 $86,104,000 $157,000 $810,000 $84,000 $407,000
Application Denied By Financial Institution 190 $22,979,000 $120,000 $1,012,000 $79,000 $658,000
Application Approved But Not Accepted 141 $23,384,000 $165,000 $1,200,000 $116,000 $679,000
File Closed For Incompleteness 11 $1,372,000 $124,000 $365,000 $114,000 $207,000
Preapproval Denied by Financial Institution 6 $661,000 $110,000 $165,000 $42,000 $56,000
Preapproval Approved but not Accepted 2 $262,000 $131,000 $132,000 $53,000 $72,000
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 65 $9,597,000 $147,000 $1,000,000 $60,000 $309,000
Credit History 64 $4,828,000 $75,000 $260,000 $65,000 $162,000
Collateral 45 $5,168,000 $114,000 $449,000 $114,000 $658,000
Other 9 $2,340,000 $260,000 $1,012,000 $115,000 $325,000
Insufficient Cash (Downpayment, Closing Cost) 6 $795,000 $132,000 $180,000 $132,000 $487,000
Mortgage Insurance Denied 3 $285,000 $95,000 $118,000 $41,000 $57,000
Unverifiable Information 2 $480,000 $240,000 $380,000 $67,000 $78,000
Credit Application Incomplete 1 $47,000 $47,000 $47,000 $28,000 $28,000
Employment History 1 $100,000 $100,000 $100,000 $22,000 $22,000

Our comprehensive HMDA mortgage statistics provide invaluable insights into Think Mutual Bank's 2008 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 Mutual 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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