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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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CHELSEA STATE BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
CHELSEA STATE BANK |
| Address | 1010 S MAIN ST
CHELSEA, MI 48118 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 57 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $5,980,000 |
| Average Mortgage Loan Amount Applied For | $113,000 |
| Highest Mortgage Loan Amount Applied For | $505,000 |
| Average Applicant Income | $77,666 |
| Highest Applicant Income | $268,000 |
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| Home Improvement |
21 | $941,000 |
$44,000 | $396,000 |
$61,000 | $237,000 |
| Home Purchase |
16 | $3,274,000 |
$204,000 | $505,000 |
$90,000 | $268,000 |
| Refinancing |
20 | $1,765,000 |
$88,000 | $246,000 |
$49,000 | $171,000 |
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| American Indian or Alaskan Native |
1 | $90,000 |
$90,000 | $90,000 |
$78,000 | $78,000 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
1 | $35,000 |
$35,000 | $35,000 |
$148,000 | $148,000 |
| Hispanic |
1 | $45,000 |
$45,000 | $45,000 |
$49,000 | $49,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
6 | $568,000 |
$94,000 | $207,000 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
48 | $5,242,000 |
$109,000 | $505,000 |
$72,000 | $268,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
57 | $5,980,000 |
$104,000 | $505,000 |
$65,000 | $268,000 |
| 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 |
6 | $299,000 |
$49,000 | $180,000 |
$25,000 | $46,000 |
| Application Withdrawn By Applicant |
2 | $231,000 |
$115,000 | $152,000 |
$69,000 | $92,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
49 | $5,450,000 |
$111,000 | $505,000 |
$70,000 | $268,000 |
| 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 |
1 | $10,000 |
$10,000 | $10,000 |
$14,000 | $14,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
3 | $30,000 |
$10,000 | $20,000 |
$29,000 | $36,000 |
| Debt-To-Income Ratio |
2 | $259,000 |
$129,000 | $180,000 |
$24,000 | $46,000 |
| 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 CHELSEA STATE BANK by:
Metropolitan Area And
County
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