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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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FOUNDERS MORTGAGE COMPANY LLC
Mortgage Loans and Application Details
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| Mortgage Company Name |
FOUNDERS MORTGAGE COMPANY LLC |
| Address | 5200 CASCADE ROAD SE
GRAND RAPIDS, MI 49546 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 451 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $90,564,000 |
| Average Mortgage Loan Amount Applied For | $219,965 |
| Highest Mortgage Loan Amount Applied For | $1,133,000 |
| Average Applicant Income | $174,724 |
| Highest Applicant Income | $965,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
354 | $72,866,000 |
$205,000 | $1,133,000 |
$125,000 | $965,000 |
| Refinancing |
113 | $20,038,000 |
$177,000 | $632,000 |
$100,000 | $895,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
6 | $908,000 |
$151,000 | $250,000 |
$141,000 | $460,000 |
| Black or African American |
4 | $952,000 |
$238,000 | $412,000 |
$91,000 | $200,000 |
| Hispanic |
5 | $404,000 |
$80,000 | $96,000 |
$47,000 | $92,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $71,000 |
$71,000 | $71,000 |
$26,000 | $26,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
22 | $3,140,000 |
$142,000 | $243,000 |
$52,000 | $135,000 |
| White |
429 | $87,429,000 |
$203,000 | $1,133,000 |
$123,000 | $965,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
467 | $92,904,000 |
$198,000 | $1,133,000 |
$119,000 | $965,000 |
| 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 |
10 | $2,316,000 |
$231,000 | $440,000 |
$119,000 | $293,000 |
| Application Denied By Financial Institution |
6 | $738,000 |
$123,000 | $152,000 |
$33,000 | $46,000 |
| Application Withdrawn By Applicant |
45 | $7,061,000 |
$156,000 | $384,000 |
$106,000 | $878,000 |
| File Closed For Incompleteness |
5 | $748,000 |
$149,000 | $212,000 |
$63,000 | $100,000 |
| Loan Originated |
385 | $79,701,000 |
$207,000 | $1,133,000 |
$126,000 | $965,000 |
| 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 |
16 | $2,340,000 |
$146,000 | $250,000 |
$44,000 | $99,000 |
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| Collateral |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
13 | $1,691,000 |
$130,000 | $230,000 |
$43,000 | $99,000 |
| Debt-To-Income Ratio |
8 | $1,187,000 |
$148,000 | $250,000 |
$42,000 | $67,000 |
| Employment History |
1 | $200,000 |
$200,000 | $200,000 |
$9,000 | $9,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for FOUNDERS MORTGAGE COMPANY LLC by:
Metropolitan Area And
County
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