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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 NAT'L BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
FIRST INDEPENDENCE NAT'L BANK |
| Address | 44 MICHIGAN AVENUE
DETROIT, MI 48226 |
| Agency | Office of the Comptroller of the Currency (OCC) |
| Year | 2004 |
| All Data Years | 2003 2004 |
| Total Number of Mortgage Loan Applications Processed | 421 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $56,405,000 |
| Average Mortgage Loan Amount Applied For | $172,580 |
| Highest Mortgage Loan Amount Applied For | $1,750,000 |
| Average Applicant Income | $35,064 |
| Highest Applicant Income | $1,200,000 |
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| Home Improvement |
26 | $1,026,000 |
$39,000 | $336,000 |
$35,000 | $121,000 |
| Home Purchase |
350 | $45,867,000 |
$129,714 | $1,750,000 |
$37,857 | $743,000 |
| Refinancing |
61 | $11,481,000 |
$189,000 | $1,200,000 |
$24,500 | $1,200,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
4 | $439,000 |
$107,666 | $124,000 |
$38,666 | $54,000 |
| Black or African American |
124 | $12,714,000 |
$114,000 | $260,000 |
$50,250 | $1,200,000 |
| Hispanic |
11 | $1,159,000 |
$86,750 | $159,000 |
$42,000 | $73,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
91 | $18,210,000 |
$176,500 | $1,750,000 |
$0 | $65,000 |
| Not Provided |
34 | $4,210,000 |
$127,200 | $161,000 |
$40,200 | $113,000 |
| White |
173 | $21,642,000 |
$132,285 | $1,200,000 |
$45,285 | $223,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
142 | $22,444,000 |
$131,666 | $1,750,000 |
$22,333 | $1,200,000 |
| FHA-insured (Federal Housing Administration) |
295 | $35,930,000 |
$124,000 | $232,000 |
$41,571 | $743,000 |
| 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 |
1 | $99,000 |
$99,000 | $99,000 |
$65,000 | $65,000 |
| Application Denied By Financial Institution |
37 | $3,791,000 |
$125,000 | $1,200,000 |
$38,200 | $223,000 |
| Application Withdrawn By Applicant |
38 | $6,206,000 |
$155,400 | $1,750,000 |
$40,600 | $145,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
269 | $33,926,000 |
$134,000 | $775,000 |
$44,000 | $1,200,000 |
| Loan Purchased By The Institution |
81 | $13,113,000 |
$156,000 | $546,000 |
$0 | $0 |
| Preapproval Approved but not Accepted |
11 | $1,239,000 |
$112,000 | $151,000 |
$42,000 | $131,000 |
| Preapproval Denied by Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
1 | $8,000 |
$8,000 | $8,000 |
$44,000 | $44,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
18 | $2,290,000 |
$127,000 | $1,200,000 |
$44,666 | $223,000 |
| Debt-To-Income Ratio |
12 | $846,000 |
$108,500 | $228,000 |
$41,250 | $121,000 |
| Employment History |
1 | $10,000 |
$10,000 | $10,000 |
$14,000 | $14,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $379,000 |
$189,500 | $260,000 |
$64,500 | $100,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
2 | $99,000 |
$49,000 | $95,000 |
$47,000 | $48,000 |
| Unverifiable Information |
1 | $159,000 |
$159,000 | $159,000 |
$36,000 | $36,000 |
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Mortgage Loan App Totals for FIRST INDEPENDENCE NAT'L BANK by:
Metropolitan Area And
County
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