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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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BAYER FEDERAL CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
BAYER FEDERAL CREDIT UNION |
| Address | 358 SOUTH ELKHART AVENUE
ELKHART, IN 46516 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 866 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $66,132,000 |
| Average Mortgage Loan Amount Applied For | $120,030 |
| Highest Mortgage Loan Amount Applied For | $700,000 |
| Average Applicant Income | $90,227 |
| Highest Applicant Income | $434,000 |
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| Home Improvement |
334 | $13,294,000 |
$39,000 | $250,000 |
$69,000 | $360,000 |
| Home Purchase |
233 | $29,710,000 |
$127,000 | $700,000 |
$60,000 | $396,000 |
| Refinancing |
299 | $23,128,000 |
$77,000 | $667,000 |
$65,000 | $434,000 |
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| American Indian or Alaskan Native |
3 | $141,000 |
$47,000 | $90,000 |
$54,000 | $73,000 |
| Asian |
22 | $3,583,000 |
$162,000 | $700,000 |
$128,000 | $360,000 |
| Black or African American |
55 | $3,690,000 |
$67,000 | $249,000 |
$53,000 | $158,000 |
| Hispanic |
25 | $1,585,000 |
$63,000 | $417,000 |
$66,000 | $396,000 |
| Native Hawaiin or Other Pacific Islander |
2 | $25,000 |
$12,000 | $15,000 |
$80,000 | $120,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
4 | $375,000 |
$93,000 | $144,000 |
$44,000 | $49,000 |
| White |
755 | $56,733,000 |
$75,000 | $667,000 |
$64,000 | $434,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
836 | $63,047,000 |
$75,000 | $700,000 |
$66,000 | $434,000 |
| FHA-insured (Federal Housing Administration) |
30 | $3,085,000 |
$102,000 | $175,000 |
$43,000 | $83,000 |
| 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 |
8 | $1,266,000 |
$158,000 | $340,000 |
$64,000 | $152,000 |
| Application Denied By Financial Institution |
96 | $7,390,000 |
$76,000 | $428,000 |
$61,000 | $434,000 |
| Application Withdrawn By Applicant |
132 | $15,222,000 |
$115,000 | $700,000 |
$63,000 | $311,000 |
| File Closed For Incompleteness |
1 | $25,000 |
$25,000 | $25,000 |
$93,000 | $93,000 |
| Loan Originated |
628 | $42,115,000 |
$67,000 | $667,000 |
$66,000 | $396,000 |
| 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 |
1 | $114,000 |
$114,000 | $114,000 |
$24,000 | $24,000 |
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| Collateral |
18 | $912,000 |
$50,000 | $188,000 |
$78,000 | $434,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
47 | $3,588,000 |
$76,000 | $200,000 |
$48,000 | $121,000 |
| Debt-To-Income Ratio |
14 | $1,199,000 |
$85,000 | $270,000 |
$43,000 | $105,000 |
| Employment History |
2 | $205,000 |
$102,000 | $125,000 |
$47,000 | $62,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $296,000 |
$148,000 | $202,000 |
$26,000 | $35,000 |
| Mortgage Insurance Denied |
2 | $133,000 |
$66,000 | $100,000 |
$199,000 | $360,000 |
| Other |
5 | $238,000 |
$47,000 | $100,000 |
$67,000 | $153,000 |
| Unverifiable Information |
1 | $30,000 |
$30,000 | $30,000 |
$136,000 | $136,000 |
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Mortgage Loan App Totals for BAYER FEDERAL CREDIT UNION by:
Metropolitan Area And
County
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