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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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DRAKE MORTGAGE CORPORATION
Mortgage Loans and Application Details
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| Mortgage Company Name |
DRAKE MORTGAGE CORPORATION |
| Address | 320-108TH AVE NE, SUITE 110
BELLEVUE, WA 98004 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2004 |
| All Data Years | 2003 2004 |
| Total Number of Mortgage Loan Applications Processed | 595 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $144,038,000 |
| Average Mortgage Loan Amount Applied For | $211,388 |
| Highest Mortgage Loan Amount Applied For | $1,820,000 |
| Average Applicant Income | $112,888 |
| Highest Applicant Income | $2,200,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
378 | $85,771,000 |
$175,750 | $1,425,000 |
$63,000 | $667,000 |
| Refinancing |
218 | $58,457,000 |
$173,000 | $1,820,000 |
$85,500 | $2,200,000 |
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| American Indian or Alaskan Native |
3 | $714,000 |
$238,000 | $364,000 |
$110,000 | $114,000 |
| Asian |
37 | $8,666,000 |
$234,000 | $650,000 |
$74,000 | $300,000 |
| Black or African American |
16 | $3,529,000 |
$220,000 | $856,000 |
$68,000 | $324,000 |
| Hispanic |
9 | $2,001,000 |
$222,000 | $332,000 |
$87,000 | $132,000 |
| Native Hawaiin or Other Pacific Islander |
11 | $1,988,000 |
$180,000 | $320,000 |
$83,000 | $105,000 |
| Not applicable |
2 | $332,000 |
$166,000 | $288,000 |
$45,000 | $90,000 |
| Not Provided |
39 | $6,894,000 |
$176,000 | $650,000 |
$59,000 | $190,000 |
| White |
479 | $120,104,000 |
$161,000 | $1,820,000 |
$70,200 | $2,200,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
573 | $140,109,000 |
$159,600 | $1,820,000 |
$69,200 | $2,200,000 |
| FHA-insured (Federal Housing Administration) |
20 | $3,587,000 |
$179,000 | $255,000 |
$57,000 | $120,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
3 | $532,000 |
$177,000 | $231,000 |
$20,000 | $62,000 |
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| Application Approved But Not Accepted |
6 | $1,711,000 |
$285,000 | $430,000 |
$96,000 | $156,000 |
| Application Denied By Financial Institution |
5 | $501,000 |
$100,000 | $160,000 |
$47,000 | $117,000 |
| Application Withdrawn By Applicant |
63 | $18,453,000 |
$188,000 | $1,350,000 |
$54,000 | $540,000 |
| File Closed For Incompleteness |
1 | $223,000 |
$223,000 | $223,000 |
$0 | $0 |
| Loan Originated |
521 | $123,340,000 |
$157,000 | $1,820,000 |
$68,400 | $2,200,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
3 | $364,000 |
$121,000 | $160,000 |
$58,000 | $117,000 |
| Debt-To-Income Ratio |
1 | $22,000 |
$22,000 | $22,000 |
$36,000 | $36,000 |
| 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 |
1 | $115,000 |
$115,000 | $115,000 |
$25,000 | $25,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for DRAKE MORTGAGE CORPORATION by:
Metropolitan Area And
County
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