Union Federal Savings & Loan Mortgage Lending & HMDA Data, 2007
In 2007, Union Federal Savings & Loan of Kewanee, IL reported 184 mortgage applications totaling $22.6 million, down 5% from 2006. The average application was for $122,940, and applicants reported an average income of $57,836. 86% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Davenport-Moline-Rock Island, IA-IL (106), Madison, WI (60) and Peoria, IL (2) (applications in parentheses).
| Mortgage Company & Address | Union Federal Savings & Loan 104 N. Tremont St Kewanee, IL 61443 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 184 |
| Total Mortgage Loan Application Amount | $22,621,000 |
| Average Mortgage Loan Application Amount | $122,940 |
| Highest Mortgage Loan Application Amount | $920,000 |
| Average Applicant Income | $57,836 |
| Highest Applicant Income | $524,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Union Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Henry, Illinois | 97 | $ 4,072,000 | $ 41,979 | $ 51,000 |
| Dane, Wisconsin | 58 | $ 16,078,000 | $ 277,206 | $ 68,000 |
| Rock Island, Illinois | 7 | $ 328,000 | $ 46,857 | $ 64,000 |
| Bureau, Illinois | 5 | $ 201,000 | $ 40,200 | $ 50,000 |
| Stark, Illinois | 2 | $ 54,000 | $ 27,000 | $ 53,000 |
| Whiteside, Illinois | 2 | $ 259,000 | $ 129,500 | $ 100,000 |
| Scott, Iowa | 2 | $ 128,000 | $ 64,000 | $ 58,000 |
| Columbia, Wisconsin | 2 | $ 312,000 | $ 156,000 | $ 54,000 |
| Sauk, Wisconsin | 2 | $ 401,000 | $ 200,500 | $ 0 |
| LaSalle, Illinois | 1 | $ 58,000 | $ 58,000 | $ 36,000 |
| Green, Wisconsin | 1 | $ 169,000 | $ 169,000 | $ 96,000 |
| Jefferson, Wisconsin | 1 | $ 177,000 | $ 177,000 | $ 57,000 |
| Kenosha, Wisconsin | 1 | $ 136,000 | $ 136,000 | $ 216,000 |
| Richland, Wisconsin | 1 | $ 80,000 | $ 80,000 | $ 37,000 |
Mortgage Loan Application Detail Totals for Union Federal Savings & Loan 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 |
|---|---|---|---|---|---|---|
| Refinancing | 66 | $9,527,000 | $144,000 | $517,000 | $64,000 | $524,000 |
| Home Purchase | 65 | $9,461,000 | $145,000 | $920,000 | $49,000 | $290,000 |
| Home Improvement | 53 | $3,633,000 | $68,000 | $500,000 | $61,000 | $480,000 |
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 | 144 | $12,575,000 | $87,000 | $750,000 | $72,000 | $524,000 |
| Not applicable | 31 | $9,049,000 | $291,000 | $920,000 | $0 | $0 |
| Hispanic | 6 | $196,000 | $32,000 | $61,000 | $38,000 | $61,000 |
| Not Provided | 2 | $609,000 | $304,000 | $475,000 | $0 | $0 |
| Asian | 1 | $192,000 | $192,000 | $192,000 | $55,000 | $55,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 184 | $22,621,000 | $122,000 | $920,000 | $58,000 | $524,000 |
| 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 | 158 | $20,288,000 | $128,000 | $920,000 | $56,000 | $524,000 |
| Application Denied By Financial Institution | 14 | $979,000 | $69,000 | $203,000 | $41,000 | $78,000 |
| Application Approved But Not Accepted | 9 | $1,166,000 | $129,000 | $395,000 | $118,000 | $403,000 |
| Preapproval Approved but not Accepted | 1 | $160,000 | $160,000 | $160,000 | $23,000 | $23,000 |
| Preapproval Denied by Financial Institution | 1 | $8,000 | $8,000 | $8,000 | $19,000 | $19,000 |
| Application Withdrawn By Applicant | 1 | $20,000 | $20,000 | $20,000 | $28,000 | $28,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 4 | $127,000 | $31,000 | $65,000 | $26,000 | $47,000 |
| Debt-To-Income Ratio | 4 | $381,000 | $95,000 | $203,000 | $63,000 | $78,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 4 | $376,000 | $94,000 | $192,000 | $42,000 | $56,000 |
| Other | 3 | $103,000 | $34,000 | $61,000 | $21,000 | $46,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Union Federal Savings & Loan'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 Union Federal Savings & Loan'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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