Union Federal Savings & Loan Mortgage Lending & HMDA Data, 2004
In 2004, Union Federal Savings & Loan of Kewanee, IL reported 166 mortgage applications totaling $24.5 million, up 6% from 2003. The average application was for $147,680, and applicants reported an average income of $93,933. 91% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Madison, WI (43), Peoria, IL (5) and Davenport-Moline-Rock Island, IA-IL (4) (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 | 166 |
| Total Mortgage Loan Application Amount | $24,515,000 |
| Average Mortgage Loan Application Amount | $147,680 |
| Highest Mortgage Loan Application Amount | $1,475,000 |
| Average Applicant Income | $93,933 |
| Highest Applicant Income | $2,562,000 |
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records Union Federal Savings & Loan filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Union Federal Savings & Loan 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 75 | $11,489,000 | $145,250 | $1,475,000 | $72,000 | $720,000 |
| Refinancing | 57 | $9,354,000 | $159,333 | $1,456,000 | $157,000 | $2,562,000 |
| Home Improvement | 34 | $3,672,000 | $244,000 | $912,000 | $34,500 | $257,000 |
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 | 124 | $11,466,000 | $116,500 | $1,475,000 | $129,500 | $2,562,000 |
| Not applicable | 24 | $9,910,000 | $228,500 | $1,456,000 | $1,000 | $190,000 |
| Not Provided | 11 | $2,720,000 | $128,333 | $1,176,000 | $234,333 | $720,000 |
| Hispanic | 4 | $95,000 | $23,000 | $40,000 | $26,000 | $56,000 |
| American Indian or Alaskan Native | 1 | $120,000 | $120,000 | $120,000 | $71,000 | $71,000 |
| Asian | 1 | $200,000 | $200,000 | $200,000 | $0 | $0 |
| Black or African American | 1 | $4,000 | $4,000 | $4,000 | $45,000 | $45,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 166 | $24,515,000 | $138,250 | $1,475,000 | $94,000 | $2,562,000 |
| 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 | 151 | $23,687,000 | $166,666 | $1,475,000 | $118,333 | $2,562,000 |
| Application Denied By Financial Institution | 7 | $227,000 | $33,500 | $60,000 | $20,500 | $59,000 |
| Application Withdrawn By Applicant | 6 | $480,000 | $80,000 | $123,000 | $46,000 | $96,000 |
| File Closed For Incompleteness | 1 | $26,000 | $26,000 | $26,000 | $21,000 | $21,000 |
| Application Approved But Not Accepted | 1 | $95,000 | $95,000 | $95,000 | $81,000 | $81,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 5 | $131,000 | $29,500 | $40,000 | $21,500 | $59,000 |
| Debt-To-Income Ratio | 1 | $60,000 | $60,000 | $60,000 | $11,000 | $11,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $36,000 | $36,000 | $36,000 | $25,000 | $25,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 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 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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