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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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CORNERSTONE HOME MORTGAGE
Mortgage Loans and Application Details
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| Mortgage Company Name |
CORNERSTONE HOME MORTGAGE |
| Address | 6905 N.WICKHAM ROAD, SUITE 405
MELBOURNE, FL 32940 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 3,026 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $598,964,000 |
| Average Mortgage Loan Amount Applied For | $191,285 |
| Highest Mortgage Loan Amount Applied For | $1,000,000 |
| Average Applicant Income | $96,309 |
| Highest Applicant Income | $1,793,000 |
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| Home Improvement |
1 | $100,000 |
$100,000 | $100,000 |
$29,000 | $29,000 |
| Home Purchase |
2,987 | $588,774,000 |
$197,000 | $1,000,000 |
$88,000 | $1,793,000 |
| Refinancing |
57 | $13,661,000 |
$239,000 | $1,000,000 |
$100,000 | $389,000 |
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| American Indian or Alaskan Native |
8 | $1,070,000 |
$133,000 | $290,000 |
$108,000 | $446,000 |
| Asian |
220 | $47,495,000 |
$215,000 | $495,000 |
$96,000 | $1,793,000 |
| Black or African American |
442 | $77,163,000 |
$174,000 | $627,000 |
$73,000 | $1,134,000 |
| Hispanic |
473 | $92,871,000 |
$196,000 | $616,000 |
$73,000 | $351,000 |
| Native Hawaiin or Other Pacific Islander |
19 | $3,495,000 |
$183,000 | $458,000 |
$100,000 | $244,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
272 | $51,905,000 |
$190,000 | $650,000 |
$89,000 | $1,778,000 |
| White |
1,611 | $328,536,000 |
$203,000 | $1,000,000 |
$96,000 | $720,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
2,894 | $573,410,000 |
$198,000 | $1,000,000 |
$90,000 | $1,793,000 |
| FHA-insured (Federal Housing Administration) |
62 | $9,598,000 |
$154,000 | $269,000 |
$56,000 | $107,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
2 | $429,000 |
$214,000 | $288,000 |
$62,000 | $71,000 |
| VA-guaranteed (Veterans Administration) |
87 | $19,098,000 |
$219,000 | $395,000 |
$69,000 | $170,000 |
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| Application Approved But Not Accepted |
124 | $27,898,000 |
$224,000 | $665,000 |
$88,000 | $408,000 |
| Application Denied By Financial Institution |
75 | $15,702,000 |
$209,000 | $650,000 |
$84,000 | $334,000 |
| Application Withdrawn By Applicant |
654 | $133,500,000 |
$204,000 | $613,000 |
$84,000 | $1,778,000 |
| File Closed For Incompleteness |
8 | $1,696,000 |
$212,000 | $521,000 |
$60,000 | $147,000 |
| Loan Originated |
2,184 | $423,739,000 |
$194,000 | $1,000,000 |
$90,000 | $1,793,000 |
| 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 |
4 | $601,000 |
$150,000 | $217,000 |
$119,000 | $174,000 |
| Credit Application Incomplete |
21 | $4,616,000 |
$219,000 | $650,000 |
$112,000 | $334,000 |
| Credit History |
11 | $2,640,000 |
$240,000 | $475,000 |
$79,000 | $195,000 |
| Debt-To-Income Ratio |
7 | $1,592,000 |
$227,000 | $400,000 |
$53,000 | $98,000 |
| Employment History |
8 | $1,298,000 |
$162,000 | $410,000 |
$71,000 | $155,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
8 | $1,735,000 |
$216,000 | $371,000 |
$72,000 | $96,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
15 | $3,198,000 |
$213,000 | $315,000 |
$66,000 | $180,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for CORNERSTONE HOME MORTGAGE by:
Metropolitan Area And
County
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