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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 INDEPENDENCE BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
FIRST INDEPENDENCE BANK |
| Address | 44 MICHIGAN AVENUE
DETROIT, MI 48226 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 61 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $4,089,000 |
| Average Mortgage Loan Amount Applied For | $87,800 |
| Highest Mortgage Loan Amount Applied For | $387,000 |
| Average Applicant Income | $72,600 |
| Highest Applicant Income | $1,932,000 |
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| Home Improvement |
30 | $906,000 |
$30,000 | $160,000 |
$43,000 | $159,000 |
| Home Purchase |
13 | $1,284,000 |
$98,000 | $180,000 |
$196,000 | $1,932,000 |
| Refinancing |
18 | $1,899,000 |
$105,000 | $387,000 |
$70,000 | $468,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
51 | $3,293,000 |
$64,000 | $387,000 |
$92,000 | $1,932,000 |
| Hispanic |
3 | $165,000 |
$55,000 | $125,000 |
$17,000 | $17,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
4 | $430,000 |
$107,000 | $130,000 |
$0 | $0 |
| Not Provided |
1 | $10,000 |
$10,000 | $10,000 |
$36,000 | $36,000 |
| White |
2 | $191,000 |
$95,000 | $110,000 |
$153,000 | $169,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
61 | $4,089,000 |
$67,000 | $387,000 |
$83,000 | $1,932,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
26 | $1,135,000 |
$43,000 | $160,000 |
$33,000 | $67,000 |
| Application Withdrawn By Applicant |
10 | $1,140,000 |
$114,000 | $180,000 |
$53,000 | $124,000 |
| File Closed For Incompleteness |
1 | $10,000 |
$10,000 | $10,000 |
$7,000 | $7,000 |
| Loan Originated |
24 | $1,804,000 |
$75,000 | $387,000 |
$153,000 | $1,932,000 |
| 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 |
1 | $69,000 |
$69,000 | $69,000 |
$31,000 | $31,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
11 | $298,000 |
$27,000 | $87,000 |
$31,000 | $60,000 |
| Debt-To-Income Ratio |
13 | $743,000 |
$57,000 | $160,000 |
$34,000 | $67,000 |
| 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 | $25,000 |
$25,000 | $25,000 |
$51,000 | $51,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for FIRST INDEPENDENCE BANK by:
Metropolitan Area And
County
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