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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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EASTERN FEDERAL BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
EASTERN FEDERAL BANK |
| Address | 257 MAIN STREET
NORWICH, CT 06360 |
| Agency | Office of Thrift Supervision (OTS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 260 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $31,189,000 |
| Average Mortgage Loan Amount Applied For | $212,333 |
| Highest Mortgage Loan Amount Applied For | $700,000 |
| Average Applicant Income | $139,333 |
| Highest Applicant Income | $540,000 |
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| Home Improvement |
78 | $5,439,000 |
$69,000 | $455,000 |
$81,000 | $235,000 |
| Home Purchase |
58 | $13,052,000 |
$225,000 | $700,000 |
$115,000 | $540,000 |
| Refinancing |
124 | $12,698,000 |
$102,000 | $330,000 |
$82,000 | $429,000 |
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| American Indian or Alaskan Native |
1 | $140,000 |
$140,000 | $140,000 |
$428,000 | $428,000 |
| Asian |
8 | $2,051,000 |
$256,000 | $700,000 |
$166,000 | $540,000 |
| Black or African American |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Hispanic |
2 | $273,000 |
$136,000 | $248,000 |
$85,000 | $95,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
9 | $1,618,000 |
$179,000 | $328,000 |
$9,000 | $45,000 |
| Not Provided |
7 | $653,000 |
$93,000 | $174,000 |
$57,000 | $104,000 |
| White |
233 | $26,454,000 |
$113,000 | $675,000 |
$89,000 | $533,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
260 | $31,189,000 |
$119,000 | $700,000 |
$89,000 | $540,000 |
| 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 |
5 | $701,000 |
$140,000 | $294,000 |
$75,000 | $115,000 |
| Application Denied By Financial Institution |
28 | $2,866,000 |
$102,000 | $280,000 |
$55,000 | $225,000 |
| Application Withdrawn By Applicant |
19 | $2,955,000 |
$155,000 | $384,000 |
$73,000 | $161,000 |
| File Closed For Incompleteness |
1 | $330,000 |
$330,000 | $330,000 |
$94,000 | $94,000 |
| Loan Originated |
207 | $24,337,000 |
$117,000 | $700,000 |
$95,000 | $540,000 |
| 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 |
3 | $154,000 |
$51,000 | $110,000 |
$128,000 | $225,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
7 | $707,000 |
$101,000 | $271,000 |
$71,000 | $102,000 |
| Debt-To-Income Ratio |
17 | $1,965,000 |
$115,000 | $280,000 |
$36,000 | $73,000 |
| 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 | $40,000 |
$40,000 | $40,000 |
$49,000 | $49,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for EASTERN FEDERAL BANK by:
Metropolitan Area And
County
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