AllMortgageDetail - Mortgage Application Details

American Mortgage Specialists
Mortgage Loan Application
Totals and Details
for 2006

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Mortgage Company & Address American Mortgage Specialists
16100 N Greenway Hayden Loop Ste 108
Scottsdale, AZ 85260
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2009  2008  2007  2006  
Total Number of Mortgage Applications 4,344
Total Mortgage Loan Application Amount $909,290,000
Average Mortgage Loan Application Amount $168,025
Highest Mortgage Loan Application Amount $2,700,000
Average Applicant Income $71,010
Highest Applicant Income $4,615,000

Mortgage Loan Application Detail Totals for American Mortgage Specialists in 2006

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 2,912 $640,057,000 $219,000 $2,700,000 $86,000 $2,187,000
Home Purchase 1,240 $225,740,000 $182,000 $1,500,000 $105,000 $4,615,000
Home Improvement 192 $43,493,000 $226,000 $1,200,000 $104,000 $1,908,000

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 2,154 $460,346,000 $213,000 $2,079,000 $98,000 $2,187,000
Not Provided 965 $210,552,000 $218,000 $1,440,000 $81,000 $780,000
Hispanic 776 $140,499,000 $181,000 $2,700,000 $79,000 $1,080,000
Black or African American 236 $53,327,000 $225,000 $2,000,000 $111,000 $900,000
Asian 161 $33,552,000 $208,000 $735,000 $86,000 $293,000
Native Hawaiin or Other Pacific Islander 40 $8,863,000 $221,000 $654,000 $196,000 $4,615,000
American Indian or Alaskan Native 12 $2,151,000 $179,000 $262,000 $76,000 $170,000
Not applicable 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) 4,342 $909,082,000 $209,000 $2,700,000 $92,000 $4,615,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 2 $208,000 $104,000 $180,000 $53,000 $106,000
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 2,322 $475,017,000 $204,000 $1,000,000 $91,000 $4,615,000
Application Withdrawn By Applicant 820 $174,871,000 $213,000 $1,800,000 $100,000 $2,187,000
Application Approved But Not Accepted 681 $149,713,000 $219,000 $2,700,000 $89,000 $900,000
Application Denied By Financial Institution 500 $105,789,000 $211,000 $1,190,000 $88,000 $780,000
File Closed For Incompleteness 20 $3,450,000 $172,000 $604,000 $83,000 $216,000
Loan Purchased By The Institution 1 $450,000 $450,000 $450,000 $166,000 $166,000
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 11 $2,452,000 $222,000 $329,000 $79,000 $133,000
Other 9 $2,435,000 $270,000 $985,000 $175,000 $780,000
Debt-To-Income Ratio 5 $1,956,000 $391,000 $647,000 $96,000 $149,000
Employment History 3 $475,000 $158,000 $224,000 $73,000 $132,000
Insufficient Cash (Downpayment, Closing Cost) 3 $467,000 $155,000 $261,000 $128,000 $174,000
Collateral 3 $1,069,000 $356,000 $525,000 $161,000 $271,000
Mortgage Insurance Denied 1 $383,000 $383,000 $383,000 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Unverifiable Information 0 $0 $0 $0 $0 $0