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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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CHEMUNG CANAL TRUST COMPANY
Mortgage Loans and Application Details
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| Mortgage Company Name |
CHEMUNG CANAL TRUST COMPANY |
| Address | ONE CHEMUNG CANAL PLAZA
ELMIRA, NY 14901 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 1,211 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $81,287,000 |
| Average Mortgage Loan Amount Applied For | $74,588 |
| Highest Mortgage Loan Amount Applied For | $1,000,000 |
| Average Applicant Income | $72,882 |
| Highest Applicant Income | $998,000 |
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| Home Improvement |
459 | $10,786,000 |
$23,000 | $374,000 |
$55,000 | $750,000 |
| Home Purchase |
549 | $55,609,000 |
$101,000 | $888,000 |
$70,000 | $750,000 |
| Refinancing |
321 | $24,061,000 |
$74,000 | $1,000,000 |
$67,000 | $998,000 |
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| American Indian or Alaskan Native |
3 | $384,000 |
$128,000 | $202,000 |
$179,000 | $380,000 |
| Asian |
21 | $3,330,000 |
$158,000 | $563,000 |
$103,000 | $337,000 |
| Black or African American |
27 | $1,657,000 |
$61,000 | $230,000 |
$55,000 | $191,000 |
| Hispanic |
14 | $1,200,000 |
$85,000 | $218,000 |
$61,000 | $185,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $95,000 |
$95,000 | $95,000 |
$46,000 | $46,000 |
| Not applicable |
3 | $137,000 |
$45,000 | $61,000 |
$186,000 | $281,000 |
| Not Provided |
43 | $3,297,000 |
$76,000 | $500,000 |
$58,000 | $205,000 |
| White |
1,217 | $80,356,000 |
$66,000 | $1,000,000 |
$63,000 | $998,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,329 | $90,456,000 |
$68,000 | $1,000,000 |
$64,000 | $998,000 |
| 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 |
64 | $6,427,000 |
$100,000 | $888,000 |
$71,000 | $500,000 |
| Application Denied By Financial Institution |
163 | $6,567,000 |
$40,000 | $244,000 |
$40,000 | $160,000 |
| Application Withdrawn By Applicant |
34 | $1,824,000 |
$53,000 | $180,000 |
$61,000 | $132,000 |
| File Closed For Incompleteness |
2 | $223,000 |
$111,000 | $125,000 |
$101,000 | $117,000 |
| Loan Originated |
949 | $66,295,000 |
$69,000 | $1,000,000 |
$71,000 | $998,000 |
| 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 |
117 | $9,120,000 |
$77,000 | $380,000 |
$40,000 | $120,000 |
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| Collateral |
29 | $1,387,000 |
$47,000 | $210,000 |
$41,000 | $111,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
105 | $5,251,000 |
$50,000 | $221,000 |
$44,000 | $117,000 |
| Debt-To-Income Ratio |
119 | $8,035,000 |
$67,000 | $380,000 |
$35,000 | $160,000 |
| Employment History |
8 | $452,000 |
$56,000 | $100,000 |
$43,000 | $79,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $86,000 |
$86,000 | $86,000 |
$58,000 | $58,000 |
| Mortgage Insurance Denied |
2 | $89,000 |
$44,000 | $61,000 |
$21,000 | $25,000 |
| Other |
15 | $368,000 |
$24,000 | $72,000 |
$51,000 | $118,000 |
| Unverifiable Information |
1 | $19,000 |
$19,000 | $19,000 |
$19,000 | $19,000 |
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Mortgage Loan App Totals for CHEMUNG CANAL TRUST COMPANY by:
Metropolitan Area And
County
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