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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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APPROVED FUNDING CORP.
Mortgage Loans and Application Details
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| Mortgage Company Name |
APPROVED FUNDING CORP. |
| Address | 41 GRAND AVENUE
RIVER EDGE, NJ 07661 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2006 |
| Total Number of Mortgage Loan Applications Processed | 1,059 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $305,006,000 |
| Average Mortgage Loan Amount Applied For | $214,986 |
| Highest Mortgage Loan Amount Applied For | $3,600,000 |
| Average Applicant Income | $118,833 |
| Highest Applicant Income | $1,400,000 |
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| Home Improvement |
2 | $482,000 |
$241,000 | $417,000 |
$197,000 | $199,000 |
| Home Purchase |
628 | $167,792,000 |
$267,000 | $1,680,000 |
$141,000 | $1,400,000 |
| Refinancing |
546 | $167,259,000 |
$306,000 | $3,600,000 |
$136,000 | $1,066,000 |
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| American Indian or Alaskan Native |
10 | $1,572,000 |
$157,000 | $408,000 |
$85,000 | $156,000 |
| Asian |
19 | $5,277,000 |
$277,000 | $580,000 |
$127,000 | $317,000 |
| Black or African American |
46 | $10,231,000 |
$222,000 | $800,000 |
$90,000 | $195,000 |
| Hispanic |
141 | $31,777,000 |
$225,000 | $900,000 |
$115,000 | $420,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
1 | $384,000 |
$384,000 | $384,000 |
$141,000 | $141,000 |
| Not Provided |
496 | $143,583,000 |
$289,000 | $1,680,000 |
$141,000 | $792,000 |
| White |
463 | $142,709,000 |
$308,000 | $3,600,000 |
$149,000 | $1,400,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,173 | $335,149,000 |
$285,000 | $3,600,000 |
$138,000 | $1,400,000 |
| FHA-insured (Federal Housing Administration) |
1 | $14,000 |
$14,000 | $14,000 |
$420,000 | $420,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
2 | $370,000 |
$185,000 | $315,000 |
$66,000 | $132,000 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Withdrawn By Applicant |
0 | $0 |
$0 | $0 |
$0 | $0 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Purchased By The Institution |
1,176 | $335,533,000 |
$285,000 | $3,600,000 |
$139,000 | $1,400,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Debt-To-Income Ratio |
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 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for APPROVED FUNDING CORP. by:
Metropolitan Area And
County
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