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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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EDGEWATER BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
EDGEWATER BANK |
| Address | 321 MAIN STREET
ST. JOSEPH, MI 49085 |
| Agency | Office of Thrift Supervision (OTS) |
| Year | 2006 |
| All Data Years | 2003 2004 2006 |
| Total Number of Mortgage Loan Applications Processed | 215 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $23,463,000 |
| Average Mortgage Loan Amount Applied For | $232,375 |
| Highest Mortgage Loan Amount Applied For | $935,000 |
| Average Applicant Income | $154,375 |
| Highest Applicant Income | $1,532,000 |
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| Home Improvement |
21 | $1,717,000 |
$81,000 | $417,000 |
$70,000 | $135,000 |
| Home Purchase |
105 | $15,611,000 |
$148,000 | $935,000 |
$74,000 | $717,000 |
| Refinancing |
123 | $11,470,000 |
$93,000 | $693,000 |
$85,000 | $1,532,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
1 | $70,000 |
$70,000 | $70,000 |
$66,000 | $66,000 |
| Black or African American |
2 | $110,000 |
$55,000 | $62,000 |
$32,000 | $50,000 |
| Hispanic |
4 | $633,000 |
$158,000 | $287,000 |
$77,000 | $175,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
3 | $549,000 |
$183,000 | $225,000 |
$277,000 | $738,000 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
239 | $27,436,000 |
$114,000 | $935,000 |
$77,000 | $1,532,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
249 | $28,798,000 |
$115,000 | $935,000 |
$79,000 | $1,532,000 |
| 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 |
8 | $1,177,000 |
$147,000 | $273,000 |
$68,000 | $124,000 |
| Application Denied By Financial Institution |
24 | $2,388,000 |
$99,000 | $325,000 |
$44,000 | $99,000 |
| Application Withdrawn By Applicant |
18 | $2,095,000 |
$116,000 | $303,000 |
$48,000 | $238,000 |
| File Closed For Incompleteness |
10 | $1,856,000 |
$185,000 | $380,000 |
$62,000 | $176,000 |
| Loan Originated |
180 | $19,814,000 |
$110,000 | $935,000 |
$88,000 | $1,532,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
5 | $962,000 |
$192,000 | $458,000 |
$121,000 | $369,000 |
| Preapproval Denied by Financial Institution |
4 | $506,000 |
$126,000 | $181,000 |
$54,000 | $72,000 |
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| Collateral |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
7 | $736,000 |
$105,000 | $325,000 |
$37,000 | $78,000 |
| Debt-To-Income Ratio |
15 | $1,710,000 |
$114,000 | $200,000 |
$50,000 | $99,000 |
| Employment History |
4 | $350,000 |
$87,000 | $140,000 |
$51,000 | $83,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $35,000 |
$35,000 | $35,000 |
$13,000 | $13,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $63,000 |
$63,000 | $63,000 |
$43,000 | $43,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for EDGEWATER BANK by:
Metropolitan Area And
County
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