Usu Charter Federal CU Mortgage Lending & HMDA Data, 2013
In 2013, Usu Charter Federal CU of Logan, UT reported 80 mortgage applications totaling $12.8 million. The average application was for $159,475, and applicants reported an average income of $84,637. 62% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Logan, UT-ID (62), Salt Lake City, UT (4) and Ogden-Clearfield, UT (1) (applications in parentheses).
| Mortgage Company & Address | Usu Charter Federal CU P.O. Box 446 Logan, UT 84323 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2013 |
| Total Number of Mortgage Applications | 80 |
| Total Mortgage Loan Application Amount | $12,758,000 |
| Average Mortgage Loan Application Amount | $159,475 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $84,637 |
| Highest Applicant Income | $859,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Usu Charter Federal CU filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Usu Charter Federal CU in 2013
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 | 51 | $8,143,000 | $159,000 | $417,000 | $85,000 | $859,000 |
| Home Purchase | 29 | $4,615,000 | $159,000 | $417,000 | $84,000 | $859,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 63 | $10,270,000 | $163,000 | $417,000 | $93,000 | $859,000 |
| Hispanic | 11 | $1,424,000 | $129,000 | $255,000 | $47,000 | $76,000 |
| Asian | 5 | $919,000 | $183,000 | $248,000 | $64,000 | $90,000 |
| Black or African American | 1 | $145,000 | $145,000 | $145,000 | $48,000 | $48,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 75 | $11,945,000 | $159,000 | $417,000 | $87,000 | $859,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $813,000 | $162,000 | $184,000 | $46,000 | $60,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 50 | $7,529,000 | $150,000 | $417,000 | $98,000 | $859,000 |
| Application Denied By Financial Institution | 15 | $2,465,000 | $164,000 | $354,000 | $56,000 | $101,000 |
| Application Withdrawn By Applicant | 15 | $2,764,000 | $184,000 | $417,000 | $68,000 | $121,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 5 | $937,000 | $187,000 | $354,000 | $69,000 | $101,000 |
| Other | 4 | $643,000 | $160,000 | $300,000 | $43,000 | $85,000 |
| Debt-To-Income Ratio | 3 | $457,000 | $152,000 | $212,000 | $58,000 | $88,000 |
| Credit Application Incomplete | 2 | $287,000 | $143,000 | $192,000 | $52,000 | $62,000 |
| Collateral | 1 | $141,000 | $141,000 | $141,000 | $55,000 | $55,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Usu Charter Federal CU's 2013 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 Usu Charter Federal CU'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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