Central Federal Savings And Loan Association Mortgage Rates, Fees & Info

Cicero, IL

LEI: 21380054U5NKZKBQ4128

Tax ID: 36-0882755

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Central Federal Savings And Loan Association is a smaller mortgage company specializing in Cash Out Refi, Home Purchase, and Refi loans. Central Federal Savings And Loan Association has a high proportion of conventional loans. Their top (well, only) market is Chicago.

    Central Federal Savings And Loan Association has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    87

    Origination Dollar Volume (All Markets)

    $15,315,000

    Employee count

    50

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 87 $15,315,000 $176,034 $0 0.00%
    Central Federal Savings And Loan Association's top markets include and Chicago among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 87 $15,315,000 $176,034 $0 0.00%

    For 2019, Central Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 87 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 37 $5,895,000 $159,324 $0 0.00%
    Home Purchase 30 $5,390,000 $179,667 $0 0.00%
    Refi 18 $3,370,000 $187,222 $0 0.00%
    Home Improvement 1 $135,000 $135,000 $0 0.00%
    Other 1 $525,000 $525,000 $0 0.00%

    For 2019, Central Federal Savings And Loan Association's most frequently cited loan purpose was Cash Out Refi, with 37 originations. The 2nd most popular reason was Home Purchase, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 87 $15,315,000 $176,034 $0 0.00%

    For 2019, Central Federal Savings And Loan Association's most frequently cited loan duration was Other, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 56 $8,570,000 $153,036 $0 0.00%
    $200k-400k 15 $4,055,000 $270,333 $0 0.00%
    $100,000 or less 13 $985,000 $75,769 $0 0.00%
    $400k-600k 2 $930,000 $465,000 $0 0.00%
    $600k-1MM 1 $775,000 $775,000 $0 0.00%

    2019 saw Central Federal Savings And Loan Association place emphasis on $100k-200k loans with 56 originations, totaling $8,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 32 $4,940,000 $154,375 $0 0.00%
    $75k-100k 18 $3,010,000 $167,222 $0 0.00%
    $100k-150k 17 $3,075,000 $180,882 $0 0.00%
    $50k or less 13 $1,715,000 $131,923 $0 0.00%
    $150k-250k 6 $2,230,000 $371,667 $0 0.00%

    Central Federal Savings And Loan Association lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $75k-100k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 87 $15,315,000 $176,034 $0 0.00%

    Central Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 67 $11,445,000 $170,821 $0 0.00%
    Not provided 17 $3,495,000 $205,588 $0 0.00%
    Asian 1 $195,000 $195,000 $0 0.00%
    Black 2 $180,000 $90,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.51%

    Central Federal Savings And Loan Association has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.66%

    Central Federal Savings And Loan Association has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 87 $15,315,000 $176,034

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $1,195,000 $239,000
    Single Family (1-4 Units):Site-Built 82 $14,120,000 $172,195

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CENTERSTATE BANK CORPORATION Conventional home mortgage Trouble during payment process 1 50.0%
    CENTERSTATE BANK CORPORATION VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Central Federal Savings and Loan Association 1921 E 31st St. La Grange Park, IL 60526 Full Service B&M $30,516
    Central Federal Savings and Loan Association 5953 W Cermak Road Cicero, IL 60804 Full Service B&M $64,903
    Central Federal Savings and Loan Association 6940 West Ogden Avenue Berwyn, IL 60402 Full Service B&M $54,578

    For 2019, Central Federal Savings And Loan Association had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,532
    Net interest income $4,729
    Total noninterest income $222
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $66
    Trading account gains and fees $0
    Additional Noninterest Income $156
    Pre-tax net operating income $176
    Securities gains (or losses, -) $1
    Income before extraordinary items $137
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $137
    Minority interest net income $0
    Net income $137
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $136

    Central Federal Savings And Loan Association's gross interest income from loans was $6,532,000.
    Central Federal Savings And Loan Association's net interest income from loans was $4,729,000.
    Central Federal Savings And Loan Association's fee based income from loans was $66,000.
    Central Federal Savings And Loan Association's net income from loans was $137,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,803
    Provision for credit losses $0
    Total noninterest expense $4,775
    Salaries and employee benefits $2,867
    Premises and equipment expense $689
    Additional noninterest expense $1,219
    Applicable income taxes $40
    Net charge-offs $-40
    Cash dividends $0

    Central Federal Savings And Loan Association's interest expense for loans was $1,803,000.
    Central Federal Savings And Loan Association's payroll and benefits expense were $2,867,000.
    Central Federal Savings And Loan Association's property, plant and equipment expenses $689,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 6.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $149,965
    Deposits held in domestic offices $149,965
    Deposits by Individuals, partnerships, and corporations $149,965
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $16,621
    Demand deposits $9,768
    Nontransaction accounts $133,344
    Money market deposit accounts (MMDAs) $13,154
    Other savings deposits (excluding MMDAs) $41,123
    Total time deposits $79,067
    Total time and savings deposits $140,197
    Noninterest-bearing deposits $9,768
    Interest-bearing deposits $140,197
    Retail deposits $144,996
    IRAs and Keogh plan accounts $13,249
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $188,835
    Cash & Balances due from depository institutions $36,110
    Interest-bearing balances $34,712
    Total securities $19,612
    Federal funds sold & reverse repurchase $0
    Net loans and leases $124,738
    Loan and leases loss allowance $1,120
    Trading account assets $0
    Bank premises and fixed assets $5,075
    Other real estate owned $221
    Goodwill and other intangibles $13
    All other assets $3,066

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $188,835
    Total Liabilities $169,580
    Total deposits $149,965
    Interest-bearing deposits $140,197
    Deposits held in domestic offices $149,965
    % insured (estimated) $97
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $19,000
    Subordinated debt $0
    All other liabilities $615

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $124,738
    Loan and leases loss allowance $1,120
    Total loans and leases (domestic) $125,858
    All real estate loans $125,763
    Real estate loans in domestic offices $125,763
    Construction and development loans $224
    Residential 1-4 family construction $224
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $2,352
    Nonfarm nonresidential secured by owner-occupied properties $1,089
    Commercial real estate & other non-farm, non-residential $1,263
    Multifamily residential real estate $9,506
    1-4 family residential loans $113,681
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $62
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $62
    All other loans & leases $33
    Loans to foreign governments and official institutions $0
    Other loans $33
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,857
    Non 1-4 family restructured loans & leases $1,644
    Total loans and leases (foreign) $0

    Central Federal Savings and Loan Association had $124,738,000 of loans outstanding in 2019. $125,763,000 of loans were in real estate loans. $224,000 of loans were in development loans. $9,506,000 of loans were in multifamily mortgage loans. $113,681,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 17 $2,352 $138,353
    Nonfarm, nonresidential loans - <$100k 2 $106 $53,000
    Nonfarm, nonresidential loans - $100-250k 9 $1,297 $144,111
    Nonfarm, nonresidential loans - $250k-1MM 6 $949 $158,167