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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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DETROIT EDISON CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
DETROIT EDISON CREDIT UNION |
| Address | 660 PLAZA DRIVE, SUITE 2155
DETROIT, MI 48226-1026 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 252 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $20,313,000 |
| Average Mortgage Loan Amount Applied For | $82,400 |
| Highest Mortgage Loan Amount Applied For | $300,000 |
| Average Applicant Income | $84,840 |
| Highest Applicant Income | $246,000 |
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| Home Improvement |
15 | $84,000 |
$5,000 | $10,000 |
$63,000 | $130,000 |
| Home Purchase |
37 | $4,369,000 |
$118,000 | $235,000 |
$79,000 | $225,000 |
| Refinancing |
201 | $16,006,000 |
$79,000 | $300,000 |
$88,000 | $246,000 |
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| American Indian or Alaskan Native |
1 | $185,000 |
$185,000 | $185,000 |
$59,000 | $59,000 |
| Asian |
9 | $1,215,000 |
$135,000 | $300,000 |
$99,000 | $167,000 |
| Black or African American |
34 | $2,830,000 |
$83,000 | $205,000 |
$74,000 | $198,000 |
| Hispanic |
1 | $21,000 |
$21,000 | $21,000 |
$127,000 | $127,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
14 | $333,000 |
$23,000 | $169,000 |
$65,000 | $130,000 |
| White |
194 | $15,875,000 |
$81,000 | $285,000 |
$87,000 | $246,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
253 | $20,459,000 |
$80,000 | $300,000 |
$85,000 | $246,000 |
| 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 |
15 | $1,467,000 |
$97,000 | $221,000 |
$68,000 | $198,000 |
| Application Withdrawn By Applicant |
0 | $0 |
$0 | $0 |
$0 | $0 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
237 | $18,846,000 |
$79,000 | $300,000 |
$86,000 | $246,000 |
| 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 | $146,000 |
$146,000 | $146,000 |
$68,000 | $68,000 |
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| Collateral |
1 | $15,000 |
$15,000 | $15,000 |
$107,000 | $107,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
13 | $1,272,000 |
$97,000 | $214,000 |
$66,000 | $198,000 |
| Debt-To-Income Ratio |
2 | $326,000 |
$163,000 | $221,000 |
$62,000 | $67,000 |
| 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 DETROIT EDISON CREDIT UNION by:
Metropolitan Area And
County
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