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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
Mortgage Loans and Application Details
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| Mortgage Company Name |
APPROVED FUNDING |
| Address | 41 GRAND AVENUE
RIVER EDGE, NJ 07661 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2005 |
| All Data Years | 2003 2004 2005 |
| Total Number of Mortgage Loan Applications Processed | 1,086 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $295,512,000 |
| Average Mortgage Loan Amount Applied For | $185,583 |
| Highest Mortgage Loan Amount Applied For | $2,700,000 |
| Average Applicant Income | $83,833 |
| Highest Applicant Income | $2,235,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
632 | $172,079,000 |
$281,428 | $2,700,000 |
$90,857 | $2,235,000 |
| Refinancing |
455 | $124,017,000 |
$246,800 | $1,495,000 |
$92,800 | $1,184,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
7 | $2,136,000 |
$314,750 | $569,000 |
$129,000 | $317,000 |
| Black or African American |
29 | $6,710,000 |
$260,200 | $700,000 |
$112,400 | $264,000 |
| Hispanic |
28 | $6,491,000 |
$244,000 | $990,000 |
$111,666 | $276,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
275 | $65,925,000 |
$194,142 | $2,000,000 |
$62,714 | $1,184,000 |
| White |
748 | $214,834,000 |
$228,285 | $2,700,000 |
$93,428 | $2,235,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,087 | $296,096,000 |
$260,250 | $2,700,000 |
$91,125 | $2,235,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
1 | $312,000 |
$312,000 | $312,000 |
$89,000 | $89,000 |
| Application Withdrawn By Applicant |
3 | $1,215,000 |
$405,000 | $569,000 |
$166,000 | $317,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Purchased By The Institution |
1,082 | $293,985,000 |
$213,857 | $2,700,000 |
$81,285 | $2,235,000 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
1 | $584,000 |
$584,000 | $584,000 |
$156,000 | $156,000 |
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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 |
1 | $312,000 |
$312,000 | $312,000 |
$89,000 | $89,000 |
| Employment History |
1 | $584,000 |
$584,000 | $584,000 |
$156,000 | $156,000 |
| 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 by:
Metropolitan Area And
County
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