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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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FINANCE AMERICA
Mortgage Loans and Application Details
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| Mortgage Company Name |
FINANCE AMERICA |
| Address | 745 SEVENTH AVENUE, 24TH FLOOR
NEW YORK, NY 10019 |
| Agency | Office of Thrift Supervision (OTS) |
| Year | 2005 |
| All Data Years | 2005 |
| Total Number of Mortgage Loan Applications Processed | 120,601 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $20,376,500,000 |
| Average Mortgage Loan Amount Applied For | $110,928 |
| Highest Mortgage Loan Amount Applied For | $7,290,000 |
| Average Applicant Income | $62,452 |
| Highest Applicant Income | $9,037,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
69,912 | $10,268,407,000 |
$130,510 | $7,290,000 |
$73,285 | $3,900,000 |
| Refinancing |
50,689 | $10,108,093,000 |
$164,877 | $4,000,000 |
$74,632 | $9,037,000 |
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| American Indian or Alaskan Native |
484 | $87,891,000 |
$140,658 | $1,050,000 |
$85,585 | $1,400,000 |
| Asian |
4,189 | $1,156,529,000 |
$190,000 | $1,855,000 |
$91,697 | $1,846,000 |
| Black or African American |
26,778 | $3,607,903,000 |
$150,911 | $7,290,000 |
$69,177 | $3,900,000 |
| Hispanic |
23,510 | $4,204,786,000 |
$138,297 | $2,113,000 |
$69,191 | $2,214,000 |
| Native Hawaiin or Other Pacific Islander |
755 | $193,653,000 |
$207,529 | $2,000,000 |
$91,058 | $519,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
22,559 | $4,210,619,000 |
$150,163 | $4,000,000 |
$72,163 | $9,037,000 |
| White |
42,326 | $6,915,119,000 |
$152,306 | $4,000,000 |
$77,877 | $6,522,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
120,601 | $20,376,500,000 |
$145,408 | $7,290,000 |
$73,551 | $9,037,000 |
| 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 |
1,466 | $283,408,000 |
$169,272 | $910,000 |
$76,522 | $1,063,000 |
| Application Denied By Financial Institution |
66,345 | $11,144,743,000 |
$147,408 | $7,290,000 |
$73,979 | $9,037,000 |
| Application Withdrawn By Applicant |
1,433 | $262,301,000 |
$156,219 | $3,330,000 |
$77,878 | $1,344,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
51,357 | $8,686,048,000 |
$141,775 | $1,000,000 |
$72,795 | $6,522,000 |
| 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 |
6,549 | $976,108,000 |
$152,000 | $4,000,000 |
$78,020 | $3,691,000 |
| Credit Application Incomplete |
6,409 | $989,551,000 |
$150,500 | $1,064,000 |
$87,166 | $3,000,000 |
| Credit History |
5,015 | $732,796,000 |
$145,510 | $2,113,000 |
$70,063 | $1,633,000 |
| Debt-To-Income Ratio |
2,305 | $338,639,000 |
$150,521 | $2,310,000 |
$73,369 | $1,320,000 |
| Employment History |
1,287 | $212,081,000 |
$152,086 | $1,000,000 |
$76,652 | $1,200,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
648 | $98,961,000 |
$148,818 | $960,000 |
$63,022 | $841,000 |
| Mortgage Insurance Denied |
1 | $125,000 |
$125,000 | $125,000 |
$38,000 | $38,000 |
| Other |
41,823 | $7,361,663,000 |
$146,653 | $7,290,000 |
$75,693 | $9,037,000 |
| Unverifiable Information |
2,308 | $434,819,000 |
$169,595 | $980,000 |
$85,808 | $4,889,000 |
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Mortgage Loan App Totals for FINANCE AMERICA by:
Metropolitan Area And
County
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