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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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COVENANT BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
COVENANT BANK |
| Address | P.O. BOX 550
CLARKSDALE, MS 38614 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 225 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $10,241,000 |
| Average Mortgage Loan Amount Applied For | $79,583 |
| Highest Mortgage Loan Amount Applied For | $800,000 |
| Average Applicant Income | $69,666 |
| Highest Applicant Income | $375,000 |
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| Home Improvement |
113 | $1,768,000 |
$15,000 | $199,000 |
$51,000 | $240,000 |
| Home Purchase |
57 | $4,241,000 |
$74,000 | $800,000 |
$66,000 | $375,000 |
| Refinancing |
55 | $4,232,000 |
$76,000 | $461,000 |
$77,000 | $260,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
106 | $2,622,000 |
$24,000 | $300,000 |
$49,000 | $240,000 |
| Hispanic |
1 | $30,000 |
$30,000 | $30,000 |
$30,000 | $30,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
19 | $2,502,000 |
$131,000 | $800,000 |
$4,000 | $77,000 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
99 | $5,087,000 |
$51,000 | $325,000 |
$87,000 | $375,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
225 | $10,241,000 |
$45,000 | $800,000 |
$61,000 | $375,000 |
| 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 |
20 | $827,000 |
$41,000 | $300,000 |
$31,000 | $96,000 |
| Application Withdrawn By Applicant |
1 | $7,000 |
$7,000 | $7,000 |
$16,000 | $16,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
204 | $9,407,000 |
$46,000 | $800,000 |
$65,000 | $375,000 |
| 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 | $15,000 |
$15,000 | $15,000 |
$30,000 | $30,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
14 | $510,000 |
$36,000 | $300,000 |
$28,000 | $72,000 |
| Debt-To-Income Ratio |
5 | $302,000 |
$60,000 | $262,000 |
$41,000 | $96,000 |
| 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 COVENANT BANK by:
Metropolitan Area And
County
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