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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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FIRST CHOICE FUNDING, INC
Mortgage Loans and Application Details
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| Mortgage Company Name |
FIRST CHOICE FUNDING, INC |
| Address | 2100 RIVERCHASE CENTER, SUITE 100
BIRMINGHAM, AL 35244 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 398 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $39,630,000 |
| Average Mortgage Loan Amount Applied For | $103,972 |
| Highest Mortgage Loan Amount Applied For | $975,000 |
| Average Applicant Income | $63,481 |
| Highest Applicant Income | $583,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
349 | $31,760,000 |
$91,000 | $595,000 |
$40,000 | $583,000 |
| Refinancing |
111 | $13,781,000 |
$124,000 | $975,000 |
$71,000 | $507,000 |
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| American Indian or Alaskan Native |
1 | $197,000 |
$197,000 | $197,000 |
$72,000 | $72,000 |
| Asian |
1 | $110,000 |
$110,000 | $110,000 |
$0 | $0 |
| Black or African American |
190 | $15,037,000 |
$79,000 | $314,000 |
$40,000 | $226,000 |
| Hispanic |
20 | $2,208,000 |
$110,000 | $220,000 |
$78,000 | $583,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $167,000 |
$167,000 | $167,000 |
$111,000 | $111,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
87 | $9,255,000 |
$106,000 | $975,000 |
$19,000 | $264,000 |
| White |
160 | $18,567,000 |
$116,000 | $595,000 |
$68,000 | $507,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
450 | $44,512,000 |
$98,000 | $975,000 |
$48,000 | $583,000 |
| FHA-insured (Federal Housing Administration) |
7 | $760,000 |
$108,000 | $155,000 |
$35,000 | $71,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
3 | $269,000 |
$89,000 | $115,000 |
$29,000 | $32,000 |
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| Application Approved But Not Accepted |
40 | $3,777,000 |
$94,000 | $285,000 |
$42,000 | $174,000 |
| Application Denied By Financial Institution |
86 | $8,752,000 |
$101,000 | $975,000 |
$35,000 | $264,000 |
| Application Withdrawn By Applicant |
88 | $8,609,000 |
$97,000 | $244,000 |
$31,000 | $155,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
246 | $24,403,000 |
$99,000 | $595,000 |
$59,000 | $583,000 |
| 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 |
1 | $75,000 |
$75,000 | $75,000 |
$0 | $0 |
| Credit History |
9 | $891,000 |
$99,000 | $215,000 |
$30,000 | $65,000 |
| Debt-To-Income Ratio |
1 | $53,000 |
$53,000 | $53,000 |
$46,000 | $46,000 |
| Employment History |
3 | $206,000 |
$68,000 | $75,000 |
$37,000 | $55,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
11 | $815,000 |
$74,000 | $125,000 |
$37,000 | $74,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for FIRST CHOICE FUNDING, INC by:
Metropolitan Area And
County
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