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| $6,295,214,383,000 in Mortgage Loans Applied for in 2006 from 34,105,441 Applications |
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AMERA MORTGAGE CORPORATION
Mortgage Loans and Application Details
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| Mortgage Company Name |
AMERA MORTGAGE CORPORATION |
| Address | 1050 CORPORATE OFFICE DRIVE SUITE 200
MILFORD, MI 48381 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 2,746 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $539,545,000 |
| Average Mortgage Loan Amount Applied For | $206,344 |
| Highest Mortgage Loan Amount Applied For | $2,280,000 |
| Average Applicant Income | $149,168 |
| Highest Applicant Income | $3,142,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
1,369 | $237,780,000 |
$173,000 | $2,000,000 |
$105,000 | $3,142,000 |
| Refinancing |
1,424 | $308,617,000 |
$216,000 | $2,280,000 |
$105,000 | $1,890,000 |
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| American Indian or Alaskan Native |
16 | $1,923,000 |
$120,000 | $310,000 |
$58,000 | $106,000 |
| Asian |
36 | $8,447,000 |
$234,000 | $1,360,000 |
$109,000 | $527,000 |
| Black or African American |
163 | $19,890,000 |
$122,000 | $564,000 |
$65,000 | $300,000 |
| Hispanic |
127 | $25,026,000 |
$197,000 | $1,470,000 |
$86,000 | $643,000 |
| Native Hawaiin or Other Pacific Islander |
8 | $1,515,000 |
$189,000 | $295,000 |
$58,000 | $182,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
63 | $11,762,000 |
$186,000 | $650,000 |
$91,000 | $300,000 |
| White |
2,380 | $477,834,000 |
$200,000 | $2,280,000 |
$110,000 | $3,142,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
2,405 | $499,999,000 |
$207,000 | $2,280,000 |
$114,000 | $3,142,000 |
| FHA-insured (Federal Housing Administration) |
289 | $34,753,000 |
$120,000 | $271,000 |
$49,000 | $328,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
70 | $7,269,000 |
$103,000 | $209,000 |
$38,000 | $76,000 |
| VA-guaranteed (Veterans Administration) |
29 | $4,376,000 |
$150,000 | $295,000 |
$53,000 | $105,000 |
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| Application Approved But Not Accepted |
132 | $28,055,000 |
$212,000 | $1,479,000 |
$111,000 | $566,000 |
| Application Denied By Financial Institution |
69 | $15,032,000 |
$217,000 | $2,280,000 |
$102,000 | $639,000 |
| Application Withdrawn By Applicant |
25 | $2,931,000 |
$117,000 | $300,000 |
$65,000 | $192,000 |
| File Closed For Incompleteness |
110 | $18,636,000 |
$169,000 | $1,410,000 |
$101,000 | $540,000 |
| Loan Originated |
2,457 | $481,743,000 |
$196,000 | $2,000,000 |
$105,000 | $3,142,000 |
| 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 |
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| Collateral |
12 | $2,872,000 |
$239,000 | $1,000,000 |
$112,000 | $351,000 |
| Credit Application Incomplete |
1 | $53,000 |
$53,000 | $53,000 |
$20,000 | $20,000 |
| Credit History |
19 | $2,644,000 |
$139,000 | $500,000 |
$61,000 | $184,000 |
| Debt-To-Income Ratio |
7 | $724,000 |
$103,000 | $150,000 |
$28,000 | $45,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
3 | $1,448,000 |
$482,000 | $1,200,000 |
$141,000 | $348,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
7 | $3,451,000 |
$493,000 | $2,280,000 |
$183,000 | $639,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for AMERA MORTGAGE CORPORATION by:
Metropolitan Area And
County
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