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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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BANKNEWPORT
Mortgage Loans and Application Details
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| Mortgage Company Name |
BANKNEWPORT |
| Address | 10 WASHINGTON SQUARE
NEWPORT, RI 02840 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 826 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $143,394,000 |
| Average Mortgage Loan Amount Applied For | $255,727 |
| Highest Mortgage Loan Amount Applied For | $2,000,000 |
| Average Applicant Income | $93,181 |
| Highest Applicant Income | $1,259,000 |
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| Home Improvement |
314 | $30,334,000 |
$96,000 | $900,000 |
$97,000 | $1,175,000 |
| Home Purchase |
177 | $55,253,000 |
$312,000 | $1,320,000 |
$127,000 | $1,259,000 |
| Refinancing |
341 | $59,012,000 |
$173,000 | $2,000,000 |
$84,000 | $577,000 |
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| American Indian or Alaskan Native |
1 | $243,000 |
$243,000 | $243,000 |
$84,000 | $84,000 |
| Asian |
4 | $1,068,000 |
$267,000 | $475,000 |
$91,000 | $157,000 |
| Black or African American |
6 | $847,000 |
$141,000 | $309,000 |
$83,000 | $182,000 |
| Hispanic |
9 | $761,000 |
$84,000 | $458,000 |
$57,000 | $176,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $300,000 |
$300,000 | $300,000 |
$0 | $0 |
| Not applicable |
14 | $5,449,000 |
$389,000 | $1,725,000 |
$0 | $0 |
| Not Provided |
89 | $5,528,000 |
$62,000 | $550,000 |
$98,000 | $438,000 |
| White |
708 | $130,403,000 |
$184,000 | $2,000,000 |
$101,000 | $1,259,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
831 | $144,357,000 |
$173,000 | $2,000,000 |
$98,000 | $1,259,000 |
| 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) |
1 | $242,000 |
$242,000 | $242,000 |
$70,000 | $70,000 |
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| Application Approved But Not Accepted |
43 | $7,185,000 |
$167,000 | $500,000 |
$85,000 | $303,000 |
| Application Denied By Financial Institution |
77 | $11,513,000 |
$149,000 | $2,000,000 |
$68,000 | $290,000 |
| Application Withdrawn By Applicant |
23 | $2,685,000 |
$116,000 | $500,000 |
$92,000 | $438,000 |
| File Closed For Incompleteness |
11 | $1,482,000 |
$134,000 | $550,000 |
$203,000 | $1,175,000 |
| Loan Originated |
673 | $120,909,000 |
$179,000 | $1,725,000 |
$102,000 | $1,259,000 |
| 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 |
5 | $825,000 |
$165,000 | $250,000 |
$42,000 | $60,000 |
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| Collateral |
10 | $1,197,000 |
$119,000 | $373,000 |
$68,000 | $155,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
31 | $3,310,000 |
$106,000 | $340,000 |
$58,000 | $147,000 |
| Debt-To-Income Ratio |
26 | $6,357,000 |
$244,000 | $2,000,000 |
$77,000 | $290,000 |
| Employment History |
2 | $165,000 |
$82,000 | $150,000 |
$44,000 | $62,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
3 | $247,000 |
$82,000 | $160,000 |
$52,000 | $126,000 |
| Unverifiable Information |
1 | $250,000 |
$250,000 | $250,000 |
$60,000 | $60,000 |
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Mortgage Loan App Totals for BANKNEWPORT by:
Metropolitan Area And
County
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