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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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AMERICAN BANK OF NEW JERSEY
Mortgage Loans and Application Details
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| Mortgage Company Name |
AMERICAN BANK OF NEW JERSEY |
| Address | 365 BROAD STREET
BLOOMFIELD, NJ 07003 |
| Agency | Office of Thrift Supervision (OTS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 236 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $78,730,000 |
| Average Mortgage Loan Amount Applied For | $425,764 |
| Highest Mortgage Loan Amount Applied For | $2,560,000 |
| Average Applicant Income | $170,411 |
| Highest Applicant Income | $1,824,000 |
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| Home Improvement |
41 | $2,914,000 |
$71,000 | $206,000 |
$96,000 | $285,000 |
| Home Purchase |
116 | $46,874,000 |
$404,000 | $2,560,000 |
$180,000 | $1,824,000 |
| Refinancing |
79 | $28,942,000 |
$366,000 | $1,600,000 |
$149,000 | $1,256,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
22 | $6,993,000 |
$317,000 | $640,000 |
$145,000 | $311,000 |
| Black or African American |
4 | $1,129,000 |
$282,000 | $420,000 |
$74,000 | $115,000 |
| Hispanic |
11 | $3,585,000 |
$325,000 | $554,000 |
$109,000 | $184,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $150,000 |
$150,000 | $150,000 |
$212,000 | $212,000 |
| Not applicable |
20 | $11,500,000 |
$575,000 | $1,571,000 |
$0 | $0 |
| Not Provided |
3 | $340,000 |
$113,000 | $240,000 |
$126,000 | $174,000 |
| White |
175 | $55,033,000 |
$314,000 | $2,560,000 |
$179,000 | $1,824,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
236 | $78,730,000 |
$333,000 | $2,560,000 |
$155,000 | $1,824,000 |
| 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 |
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| Application Approved But Not Accepted |
17 | $5,125,000 |
$301,000 | $585,000 |
$115,000 | $212,000 |
| Application Denied By Financial Institution |
21 | $6,027,000 |
$287,000 | $650,000 |
$102,000 | $288,000 |
| Application Withdrawn By Applicant |
9 | $2,020,000 |
$224,000 | $640,000 |
$87,000 | $278,000 |
| File Closed For Incompleteness |
2 | $510,000 |
$255,000 | $360,000 |
$262,000 | $420,000 |
| Loan Originated |
187 | $65,048,000 |
$347,000 | $2,560,000 |
$167,000 | $1,824,000 |
| 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 |
4 | $1,210,000 |
$302,000 | $460,000 |
$137,000 | $272,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
1 | $336,000 |
$336,000 | $336,000 |
$82,000 | $82,000 |
| Debt-To-Income Ratio |
10 | $2,152,000 |
$215,000 | $400,000 |
$49,000 | $65,000 |
| Employment History |
1 | $135,000 |
$135,000 | $135,000 |
$45,000 | $45,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
2 | $834,000 |
$417,000 | $577,000 |
$192,000 | $288,000 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
3 | $1,360,000 |
$453,000 | $650,000 |
$202,000 | $288,000 |
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Mortgage Loan App Totals for AMERICAN BANK OF NEW JERSEY by:
Metropolitan Area And
County
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