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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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FARMERS AND MECHANICS BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
FARMERS AND MECHANICS BANK |
| Address | 110 THOMAS JOHNSON DR
FREDERICK, MD 21702-4377 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 340 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $27,670,000 |
| Average Mortgage Loan Amount Applied For | $134,818 |
| Highest Mortgage Loan Amount Applied For | $1,500,000 |
| Average Applicant Income | $183,181 |
| Highest Applicant Income | $1,575,000 |
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| Home Improvement |
189 | $6,902,000 |
$36,000 | $1,000,000 |
$60,000 | $220,000 |
| Home Purchase |
41 | $11,664,000 |
$284,000 | $1,500,000 |
$162,000 | $1,575,000 |
| Refinancing |
110 | $9,104,000 |
$82,000 | $502,000 |
$68,000 | $525,000 |
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| American Indian or Alaskan Native |
1 | $40,000 |
$40,000 | $40,000 |
$79,000 | $79,000 |
| Asian |
6 | $368,000 |
$61,000 | $150,000 |
$96,000 | $177,000 |
| Black or African American |
12 | $1,458,000 |
$121,000 | $998,000 |
$66,000 | $218,000 |
| Hispanic |
2 | $190,000 |
$95,000 | $165,000 |
$49,000 | $51,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
14 | $3,108,000 |
$222,000 | $502,000 |
$0 | $0 |
| Not Provided |
27 | $1,342,000 |
$49,000 | $218,000 |
$117,000 | $1,575,000 |
| White |
278 | $21,164,000 |
$76,000 | $1,500,000 |
$75,000 | $690,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
339 | $27,538,000 |
$81,000 | $1,500,000 |
$75,000 | $1,575,000 |
| FHA-insured (Federal Housing Administration) |
1 | $132,000 |
$132,000 | $132,000 |
$60,000 | $60,000 |
| 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 |
13 | $1,570,000 |
$120,000 | $1,000,000 |
$120,000 | $690,000 |
| Application Denied By Financial Institution |
62 | $2,317,000 |
$37,000 | $167,000 |
$53,000 | $148,000 |
| Application Withdrawn By Applicant |
6 | $683,000 |
$113,000 | $400,000 |
$55,000 | $128,000 |
| File Closed For Incompleteness |
7 | $204,000 |
$29,000 | $70,000 |
$59,000 | $115,000 |
| Loan Originated |
244 | $20,587,000 |
$84,000 | $1,500,000 |
$79,000 | $1,575,000 |
| Loan Purchased By The Institution |
8 | $2,309,000 |
$288,000 | $700,000 |
$86,000 | $219,000 |
| 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 | $196,000 |
$65,000 | $131,000 |
$57,000 | $84,000 |
| Credit Application Incomplete |
1 | $85,000 |
$85,000 | $85,000 |
$125,000 | $125,000 |
| Credit History |
37 | $1,300,000 |
$35,000 | $150,000 |
$53,000 | $148,000 |
| Debt-To-Income Ratio |
18 | $686,000 |
$38,000 | $167,000 |
$49,000 | $95,000 |
| Employment History |
1 | $10,000 |
$10,000 | $10,000 |
$30,000 | $30,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $5,000 |
$5,000 | $5,000 |
$85,000 | $85,000 |
| Unverifiable Information |
1 | $35,000 |
$35,000 | $35,000 |
$10,000 | $10,000 |
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Mortgage Loan App Totals for FARMERS AND MECHANICS BANK by:
Metropolitan Area And
County
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